Cyber Monday is a marketing term for e-commerce transactions on the Monday after Thanksgiving in the United States and was created by retailers to encourage people to shop online.
The term was originally coined by Ellen Davis of the National Retail Federation and Scott Silverman and appeared in a press release entitled “‘Cyber Monday’ Quickly Becoming One of the Biggest Online Shopping Days of the Year” on November 28, 2005.
Taking the world by storm
Since its inception, Cyber Monday has become an international marketing term used by online retailers across the world.
Due to its convenience and flexibility, it has also become more popular than Black Friday. This is mainly due to shoppers being able to shop when it is convenient for them from virtually anywhere on the day.
Increasing smartphone usage also contributed to its popularity as consumers used their phones to find deals and make their purchases. In fact, smartphones accounted for 41.1% of online shopping in 2020, up 7.4% from 2019. Social media has also become a popular alternative to shopping on a retailer’s website, enjoying a 17% increase in 2020.
Cyber Monday, which was previously a one-day event, has now become so popular that some retailers have extended the event for up to a week, dubbing it Cyber Week or Cyber Week II, which begins on Christmas Day (December 25) until the New Year.
What is it about?
Historically, Cyber Monday is best known for low prices on tech-related merchandise, like laptops, gaming consoles, smart speakers, VR devices, and TVs. However, this does not mean that other deals don’t get advertised!
In recent years, most retailers offering Black Friday deals have offered Cyber Monday deals across many product categories as well.
Cyber Monday Strategies
As the pandemic shifts preferences toward online shopping, Cyber Monday is set to be bigger than Black Friday this year.
Consequently, whether you sell exclusively online or have a brick-and-mortar store and website, adopting Cyber Monday strategies is more important today than ever before.
Here are our top three Cyber Monday strategies for improving your user’s shopping experience and making the most of the annual shopping event for your business:
1. Make a Great Offer for Cyber Monday
Offering a percentage discount or specific markdowns on specific items is the best promotional strategy. Also, prioritise making shopping easy for your customers. Be generous with your shipping and return policies.
2. Advertise Effectively
If you want your target audience to pay attention to your brand during Cyber Monday, there are a few important timing considerations to keep in mind.
Firstly, get started with developing your creative early and don’t change your ads last minute.
It is also a good idea to ramp up your ad spending a few days before your major sale or the period when you know your traffic and conversions will be high. (In other words, launching your Cyber Monday campaign on November 27th, rather than the 29th.)
Secondly, Cyber Monday is one of the busiest online advertising days of the year, so get the most out of your campaign by exploring different types of creative and digital marketing strategies.
A sequence of messages will also enhance the impact of your campaign and build anticipation for it. To do this, you must come up with creative that is applicable to all stages of the purchasing process: attraction, engagement, and conversion.
Last but not least, don’t stop advertising just because it’s November 30th, especially if you have leftover inventory. By launching post-Cyber Monday deals, you’ll capitalize on the momentum you’ve created from Cyber Monday and consumers’ desire to buy.
Using sales extensions is a great way to engage those who have missed your previous online offers.
3. Provide a Great Experience for Your Users
Be sure to update your website with the latest products, latest deals, and inventory so that you don’t miss a beat on the big day. You also need to ensure that your site is lightning fast.
70% of consumers say that page speed influences their decision to purchase from an online retailer. Streamlining your site, or building your store on a fast platform in the first place, will ensure your customers get the most out of your website.
Last but not least, more sales mean more shipping supplies. Make sure you have all of your supplies or fulfilment services ready for the sales rush. Plan early and be adaptive, because you’ll be competing with retailers around the world for carrier space.
Cyber Monday can be challenging if you want to stand out from the crowd. Your marketing strategies should be clear and you should make your offers irresistible to your target audience. The key components of a successful Cyber Monday are effective advertising, impressive deals, and a seamless shopping experience.
Tenacity Works works with you to create a seamless journey for your users. Ready to get started? Get in touch!
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