Following the basic rule of supply and demand, the price of ads is much higher on those paid channels where there are more companies competing for attention.
That’s why during the holiday season, the ad spend of many ecommerce businesses soars through the roof.
So how do you get more eyes on your product for a lower price per click?
In this over-the-shoulder tutorial, we’ll cover how to handle the rising cost of paid advertising during Black Friday and Cyber Monday.
You’ll learn how to generate leads without evaporating your marketing budget on ad spend. Use these tips to get leads early and maximize this year’s Black Friday sales.
Black Friday is the single most important sale for any eCommerce brand. Check out our Black Friday checklist to make sure you have everything ready for the big day.
What to expect during holiday seasons for e-commerce. Hi, this is Andriy from Flowium Email Marketing Agency. And in today’s video, I’ll share with you five of my predictions, what to expect in this holiday season.
You can make up to 70% of your total revenue during the BFCM sales – that is if you do it right. We created a BFCM guide for eCommerce businesses to get ready for the busiest and most important days on every online store’s calendar.
2020 was crazy for a lot, a lot, a lot of people. However, for e-commerce world, it was kind of successful. Because a lot of brick-and-mortar stores were closed and people start shopping online and shopping online is the new normal today.
Even my mother spoke with me and said like, “Remember son, a few months ago, it was before COVID, you said e-commerce people will go online, start shopping online, opening more and more stores.”
And she said, like, “You were right, like, right now everybody’s shopping online.” I don’t think it was a surprise to anybody, but before COVID, everybody was thinking it will happen later than sooner, but COVID happened, and we have what we have.
So prediction number one is this will be the biggest Black Friday, Cyber Monday and holiday season at all in the history of humanity for e-commerce.
Why do I specify for e-commerce? Because blackfriday.com, I believe, did study and they predict that Black Friday and Cyber Monday sales will be down, including e-commerce and brick-and-mortar business.
However, for e-commerce site, it will be very, very, very successful.
Prediction number two, ads costs will go up, Big stores like Macy’s, Walmart, Best Buy will be closed during holidays, during Black Friday because of COVID and they will sell online only.
So just imagine those giants with big pockets, how much they will spend on Facebook, Google ads, Pinterest, Instagram, it will be more expensive for you to advertise. Because cost per click, cost per impression will be much, much higher.
I cannot predict how much, it’s not my industry to predict, but it will be much higher. And so you should be prepared for that.
Also, if you rely on ads only during holiday season, I would strongly recommend for you to rethink your marketing strategy and start focusing on getting those customers or subscribers or SMS subscriber, email subscriber, like, start improving your own marketing channels.
If you have a mobile app, create one. When you have your own marketing channels, you don’t have to rely heavily on ads during the holiday season and market to your customer with the channels you own.
Prediction number three, and it’s, like, very related to prediction number two, all giants retail, like Walmart, Amazon, but Amazon actually is online, but offline retailers, they will go all in, all in on advertising.
They will be buying media, everything. They will be all over. So it would be hard to compete if you are in the same niche, what they are selling, it would be hard to compete because they have almost unlimited pockets and you might have some limit.
Prediction number four, brands will start doing early discounts. Last year, some brands started as early as one week before Black Friday, Cyber Monday. And now I predict it will start as soon as first week of November. And it’s election week. So I believe it will start after November 3rd.
And prediction number five, since everything will go online and everybody will be shopping online, I’m not sure, and I’m not very confident in supply chains, as well as logistics that UPS, FedEx, USPS would be able to handle the load.
This is the first time in the history there will be so many orders. So there might be some shipment delays for fulfillments and so forth. So make sure you are prepared for that. That’s all.
Those are five predictions that I have for you today for this holiday season. Again, if you are a first time on my channel, please subscribe and click the bell, and you will be the first one to notified about the new video we are releasing every Thursday. Thank you. Bye.