2020 marked 15 years since the very first Cyber Monday holiday, falling on November 27th.
But why has this day of shopping with thousands of online deals become the busiest shopping week of all times? It all started in the United States, where retailers realised that the first Monday immediately after Thanksgiving Day in 2004 had been marked as one of the biggest online shopping days historically. From here, the famous and significant history of what we now know as Cyber Monday or Cyber Week.
At a time like Cyber Weekend, you need every tool in your kit to be sharp and ready to maximise the conversion from an influx of online customers poised to grab a deal.
In the UK, it has been reported that 77% of Black Friday and Cyber Monday deals transactions occur online, meaning in-store crowds from the early years of Black Friday have significantly dropped and gradually disappearing. Pre-sale research is also mainly conducted by shoppers online, as a good 51% of UK shoppers are reported to research for deals before the sales even start.
Sales across the year don’t come close to the potential of Black Friday and Cyber Monday. This year, it was predicted that brits were set to spend £6bn on Black Friday and Cyber Monday.
So, Paid Marketers need to put a clear strategy in place if they want to make the most of this crucial shopping week. As PPC professionals who’ve worked our fair share of Black Fridays, we wanted to share what we’ve learned along the way, as well as some Google CSS Partner exclusive insight, to help you maximise conversions throughout the key shopping period.
Here, we gather 3 important tips on how to maximise your conversions for your google shopping ads on the busiest shopping week.
During Black Friday and Cyber Monday week, competition is extremely high. Be prepared to adjust your budget constantly.
Imagine this scenario: you earmark a £5000 paid ad spend across Cyber Weekend and are aiming for an 800% ROAS, but on day one of Black Friday and even before Cyber Monday is on, you realise you’ve maxed your budget. What do you do? What are you allowed to do?
This is when flexibility becomes key. When planning your campaigns and ads ahead of Cyber Week, make sure your budget us fully flexible, obviously within a certain limit. We recommend setting a 10-20% increase in your overall budget from the previous year. Just in case things turn out differently.
As a paid marketer, it’s essential that you gain knowledge around spending rules before you embark on any promotional period. Your necessary budget heavily depends on your objective: are you looking to improve ROI, simply make the most of the traffic or maximise return on ad spend (ROAS)?
We’d like to think that you have these targets already in place, but if you don’t have these objectives in place yet, make sure you get these right before you start planning your google shopping ads for Cyber Week.
So, back to our scenario, you need to increase budgets to ensure that you’re making the absolute most of the flurry of potential buyers. Remember, humans can be fickle, so if you’re not making the most of shoppers' attention to purchase, your competitors will be.
When it comes to Black Friday and Cyber Monday urgency becomes inevitably part of the game, because the promotions and deals you offer to shoppers only stretch for a certain period.
That’s why you need to implement a sense of urgency within your google shopping ads. You can do this with just a few simple modifications to your ads. You can create a sense of urgency with 4 simple steps:
Organise, organise, organise. Without organisation, you might miss out on the opportunity to boost conversions for your shopping ads on this busy shopping week. This means getting your promotions added and approved well in advance – at least a week– and making sure you keep a close eye on any disapproved products so that you can rectify these immediately before the big Cyber Week.,
It could also be beneficial to create an entirely new Shopping campaign for your most in-demand products and adopting a single product ad group structure to this. It doesn’t matter if you’re running a storewide promotion this Black Friday and Cyber Monday, you’ll have to know which products are to be prioritised in order to maximise your conversions. Separating these into other groups or campaigns will help you stay on top of the tips above more efficiently.
If you never thought of these tips as essential for your shopping campaigns on Black Friday and Cyber Week, then we don’t want you to miss out on next year's too. Sign up for a 14-day free trial of Shoptimised. Get in touch and give it a whirl – you’ll wonder how you ever worked without it.