Black Friday Cyber Monday remains the biggest sale event of the year. Studies report that 70% of all consumers plan to make multiple purchases on BFCM. Last year, Cyber Monday, recorded the highest single-day sales revenue of $9.2 billion across the U.S. Similarly, Black Friday recorded a high single-day revenue of $7.4 billion! The stats are high and so is the opportunity for online sellers this year. The biggest sale event for the holiday season 2020 is here, and we want you to make the most of it. Utilize the 6 points bfcm Etsy checklist, and let the show begin!
Every eCommerce store owner looks up to the BFCM weekend for a significantly large part of their annual revenue, making it a pretty serious event on a festive front. There are a lot of preparations that sellers make to meet the surge in demands and perform well during the highest-selling weekend. And that is no different for Etsy sellers who are in their busiest time since the beginning of the last quarter. Preparation is a constant process and needs continuous actions, and this Etsy checklist will make sure you are leaving no stone unturned this Black Friday Cyber Monday sales!
6-point Etsy checklist for your Black Friday Cyber Monday preparation
Enhance your visibility
As an Etsy seller, you must know how crucial this is to make sales. There are several ways you can ensure your product is visible to your audience. Make sure you are following the SEO right, to make your product and store more discoverable
- Invest some time in keyword research and find out the most searched terms related to your product category. Optimize your listings with festive terms that are searched most during the season. For example, Christmas gifts and Christmas decorations. Erank and Marmalead can help you with the research work.
- Now use a good combination of keywords in your listing title, descriptions, and tags, so that your listings are shown to the buyers searching for relevant queries.
- Assign categories and attributes to your product listing if not done yet! This will ensure that your product is easily fetchable and hence, will rank higher on the search results. Take part in Etsy’s site-wide sales. This will increase the chances for your product to be on pages promoted by Etsy itself.
Use Promoted Listings
Etsy’s advertisement program charges you for advertising your listings online. A part of the program promotes listings on Etsy itself increasing the visibility of the product and the chances of conversion. Sellers are allowed to set up their daily budget if they choose to promote listing through Etsy ads. Another part of the program is offsite adsthrough which the listings are given a larger exposure throughout the web, including search engines and social media platforms. You will not be required to pay any fee for offsite ads until you make a sale through one of the ads placed on the web.
Promoted listings will ensure your listings are given the exposure they deserve during this peak shopping season.
Note: Do not exhaust your budget in a single day. Rather, make sure you are promoting your listings for a longer period of time with a smaller budget
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Check your numbers- Price Optimisation
Aggressive advertising and putting products on sale can be heavy on your business if your prices are not planned likewise for the holiday season. Remember that your goal is not just to make sales, but also to make profits. Make sure you are not facing any losses while promoting your products. BFCM is all about sales and discount offers. Sales and discount offers can help you attract first time buyers and sell old inventories while significantly increasing the traffic to your store. Working on increasing your average order value (AOV) will make sure you are gaining enough profit. Here’s what you can do to increase your AOV
- Encourage your buyers to buy bundles or products placed in combos.
- Upsell. Put on discount a higher-end version of the product, encouraging the buyers to spend more.
- Give conditional discounts by offering a % discount to shoppers who reach a certain limit for cart value.
- Give discounts to selected groups of buyers. For example, you can attract more first time shoppers by giving them a specific discount.
While these promotional activities will bring customers to your store, you can choose to promote/highlight a better(higher priced item) on your store.
Take part in sales
Etsy generally introduces sales on various occasions that sellers can participate in. These sales are showcased to about 70 million active buyers on the marketplace. In its third quarterly report of 2020, Etsy has shared its commitment towards attracting more and more holiday shoppers. It has also launched a dedicated Christmas sales page on the platform. Right now the people are looking for various items on Etsy for their thanksgiving dinners, decorations, and gift items. The range of products on demand will increase during bfcm, giving a bigger opportunity for all sorts of sellers on the platform. Black Friday and Cyber Monday have been reported to be the highest sales days for many years on Etsy now. So look closely for Etsy’s announcement regarding the sales where you can promote your products to a greater audience.
Utilize the power of social media
The results you are expecting from advertising and promotions can be further enhanced with a strong social media presence. Apart from helping you build brand awareness and trust amongst your shoppers, social media campaigns will update your buyers about your store activities, new launches, and promotional offers. The traffic will be directly channelized to your store through your social media posts. Etsy sellers are prominently active on Pinterest, Instagram, and Facebook. Make sure that you are talking about the ongoing sales event through your social media pages. Also, optimize your store to reflect the information shared through your posts. It is extremely off-putting for buyers to not find the same offers on the store as shown in the promotional posts. Learn more about social media promotions for your Etsy store here.
Token of thanks
Last but not the least, this is an effective way to turn your first-time shoppers into repeat buyers. All you need to do is send a thank you message to your customers with a discount code or coupon for their next purchase. After that, start preparing for your next order!
Thanksgiving is almost here and there is no time left to prepare for the cyber week. We hope this last-minute Etsy checklist has refreshed your BFCM planning.
Etsy has seen record-breaking growth in 2020. The potential and reach of the marketplace are clearly seen with the growing number of its active buyers. If we are to trust the past year’s trends, the marketplace must be flooded with holiday shoppers right now, spending the most on the upcoming Black Friday and Cyber Monday.
So brush up your strategies once more and focus on the following key factors to make the most of the biggest sales event of the year.
- Enhance your visibility by working on listing optimization.
- Use promoted listings to get increased exposure.
- Optimize your prices so you do not face any losses.
- Take part in site-wide sales to attract more holiday shoppers.
- Set up social media campaign promotion for your offers and sales.
- Sent coupons with thank you messages to convert buyers into repeat customers.
We know Q4 is a very hectic time for you. While selling on Etsy may be something you want to start, but lack the required time to set up a new store from scratch. Not to mention the trouble that comes with managing two stores at the same time, especially during the busiest time of the year! We have the perfect solution to your problem. With which you can not only replicate your store on Etsy in seconds but also manage all shop processes from your existing store’s dashboard! The Etsy Integration App has many exciting features to organize, manage, and run your business seamlessly.
The post How to hit the jackpot this BFCM: 6 point Etsy checklist! appeared first on CedCommerce Blog.