Black Friday 2020: Your Biggest Sales Day Yet

Transcript

1. Maximize ROI for Black Friday & Cyber Monday By Patrick Rauland @BFTrick - @Nexcess
2. 1 - Do you run your own store? 2 - Or build stores for others?
3. • Built custom PHP websites • Built WordPress, BigCommerce, & WooCommerce sites • Developer & Product Manager for WooCommerce • Product Marketing Manager at Nexcess • Run my own store Laidback.Games where I sell a game called Fry Thief About Me
4. Agenda 1. How important is Black Friday? 2. Maximizing Revenue 3. Keep Your Site Online
5. How Important is Black Friday?
6. $7.4 Billion Spent on online sales on Black Friday 2019 https://techcrunch.com/2019/11/30/black-friday-sees-record-7-4b-in-online-sales-2-9b-spent-using-smartphones/
7. $168 AOV (Average Order Value) https://techcrunch.com/2019/11/30/black-friday-sees-record-7-4b-in-online-sales-2-9b-spent-using-smartphones/
9. 189.6 million People visited (brick-and-mortar) stores over Black Friday weekend 2019 https://www.thebalance.com/what-is-black-friday-3305710
10. What’s Different in 2020? • - Decline in (brick-and-mortar) retail • ‍♂ - Gen-Z (<25) has more purchasing power • - COVID-19 • - US Presidential election • - Ads are (currently) cheap
11. How can eCommerce stores capture their fair share?
12. Why Talk About Black Friday Now?
13. Maximizing Revenue
14. Who Knows their Average Order Value (AOV)?
15. Upsell The Cart Magento Recommend a module
16. Promote Pricing / Shipping Breaks
17. Does anyone know what this indicator is for? 67.91%
18. 67.91% ^ The average cart abandonment rate https://99firms.com/blog/shopping-cart-abandonment-stats/
19. Do’s & Dont’s to Prevent Abandoned Carts DON’T • DON’T require users to create an account • DON’T have only one payment gateway • DON’T load longer than 3 seconds DO • DO use reputable payment gateways & show trust signals • DO have a clear & generous return / shipping policy
20. 34% of shoppers have abandoned online carts because they were required to create an account to complete the checkout DON’T require users to create an account
21. 10% of shoppers to abandon their carts due to lack of payment methods or a declined credit card DON’T have only one payment gateway
22. 57% of online consumers will abandon a website if they experience more than 3 seconds of load time DON’T load longer than 3 seconds
23. 17% of online shoppers have abandoned an order during checkout due to security concerns DO use reputable payment gateways & show trust signals
24. 27% of online shoppers have abandoned their carts due to slow delivery or poor returns policies DO have a clear & generous return / shipping policy
25. You can greatly increase your revenue just by optimizing your site
26. 28.3% Of all ecommerce revenue comes from successful abandoned cart emails. https://99firms.com/blog/shopping-cart-abandonment-stats/
27. 60% of lost sales can be recovered by sending an email within 24 hours https://www.digitalcommerce360.com/2014/12/02/personalized-shopping-cart-abandonment-e-mails-lead-sales/
28. https://jilt.com/
29. 5-25X “It costs anywhere from 5 to 25 times more to acquire a new customer than to retain an existing one.” https://blog.hubspot.com/service/customer-acquisition-study
30. Add a Loyalty Program
31. Keep Your Store Online
32. https://www.thestreet.com/technology/costco-thanksgiving-day-website-crash-cost-it-nearly-11million-15185344
33. 7% A 1 second slow down reduces conversions 7% https://www.crazyegg.com/blog/speed-up-your-website/
34. How Many of You Know Your Website Speed?
35. GTMetrix.com
36. My site back in February
37. Site after replatforming to NX & optimizing my site
38. On Black Friday Speed Isn’t About One Person. It’s About Throughput.
40. https://twitter.com/BFTrick/status/1271472713912078336
41. https://explore.nexcess.net/15-day-challenge/
42. Questions?? • Where are the slides? • What’s the best built-in feature in WooCommerce? • How did you make Fry Thief? • How are you so handsome?