As we approach what’s projected to be the most competitive holiday season yet, businesses need to be more prepared than ever for Black Friday and Cyber Monday (BFCM) 2024. With Shopify reporting a staggering $9.3 billion in sales through their merchants during the 2023 Black Friday weekend—a 24% increase from 2022—the stakes are higher than ever.
Planning Your Budget Strategy
In a video podcast, PPC Gals, Sarah Steman mentioned that inadequate budget planning is one of the biggest pitfalls businesses face. “The reality is, especially because my background is in e-commerce, you’re looking at a yearly media plan, and you really are backloading that to the holiday,” she explains.
Key budget considerations include:
- Reserve Funding: Always maintain a reserve specifically for BFCM. Consumer intent reaches its peak during this period, and you don’t want to miss out on potential sales due to budget constraints.
- Budget Allocation: with 17 years of PPC experience, Sarah Stemen suggests allocating 75-80% of your budget to conversion-focused campaigns during peak periods like Black Friday or Cyber Monday.
- Competition Adjustment: Remember that during BFCM, you’re competing not just with direct competitors but also for overall consumer wallet share. Your deals must be competitive enough to capture attention in a crowded marketplace.
Mobile Optimization: A Non-Negotiable Priority
Mobile optimization isn’t just important—it’s critical. As I mentioned in the same video podcast, “More people are on social media than ever before, which means that they’re likely on websites more than ever before, and we see that trend year after year where mobile phones outweigh desktops.”
Essential mobile optimization steps:
- Ensure your website is fully responsive
- Optimize the checkout process for mobile users
- Test navigation on multiple devices
- Monitor mobile site speed
- Verify all functions work smoothly on mobile devices
Ad Strategy and Timing
Andrew Lolk, founder of SavvyRevenue, recommends preparing your ad strategy well in advance. Here are key timing considerations:
- Start campaigns at least 2-3 weeks before BFCM
- Write and submit ads for approval at least one week in advance
- Update promotion extensions and ad copy
- Consider implementing countdown timers for urgency
Campaign Optimization Tips
- Performance Max Campaigns:
- Segment products based on performance, margins, and stock availability
- Use custom labels for sales velocity and profitability
- Monitor stock levels actively
- Remarketing Strategy:
- Create specific audience lists for BFCM
- Adjust bids for recent visitors
- Consider reducing remarketing efforts post-BFCM
- Keyword Strategy:
- Reactivate previously paused keywords for promotional products
- Consider pausing campaigns for non-promotional items
- Add “Black Friday” to relevant keywords
Technical Preparations
- Website Performance:
- Conduct thorough load testing
- Implement caching solutions
- Prepare backup servers if needed
- Inventory Management:
- Ensure accurate stock levels
- Set up inventory alerts
- Prepare backup promotions for sold-out items
Post-BFCM Analysis
As Mike Ryan, Head of Retail Insights at SMEC, notes: “Awareness campaigns prime the pump, but conversions keep it flowing.” After BFCM, conduct a thorough analysis:
- Review campaign performance metrics
- Analyze customer behaviour patterns
- Document lessons learned for next year
- Adjust strategies for the remainder of the holiday season
Key Takeaways
- Start preparations early—at least a month in advance
- Ensure mobile optimization is perfect
- Have adequate budget reserves
- Prepare backup promotions
- Monitor and adjust in real-time during BFCM
Remember, as Sarah Stemen points out, “Consumer behaviour isn’t 100% predictable.” Stay flexible and be prepared to adjust your strategy based on real-time performance during the BFCM period.
Ready to Maximize Your BFCM Success?
While this guide provides a strong foundation for your Black Friday/Cyber Monday strategy, implementing these tactics effectively requires expertise and experience. At Hop Skip Media, we specialize in creating and managing high-performing Google Ads and Meta campaigns that drive real results during the holiday season and beyond.
Want to ensure your business captures maximum value this BFCM season? Our team of certified PPC experts is ready to help. Contact us today to discuss your holiday season advertising strategy.