Brkfst and partner Yardline Capital bring five valuable insights on optimizing your Black Friday and Cyber Monday strategy. brkfst General Manager, Maricor Resente, and Yardline Seller Success Manager, Anna Rose, spoke about the importance of planning ahead when it comes to the holiday season. The webinar focuses on Amazon PPC, optimizing your cost-per-click, and timing out your acquisition strategy for a target CPA.
Tip #1: Make sure your inventory is available.
When advertising on Amazon, it’s important to keep track of FBA deadlines. November 1st is Amazon’s FBA inventory cut-off deadline for Black Friday, Cyber Monday and Christmas. Also, it’s important to keep a healthy IPI score (above 450+) so you’re not limited by Amazon’s new storage restrictions. Finally, having a back-up plan in place is always a good idea, so fulfill orders yourself and have FBM listings prepared in case FBA inventory goes out of stock.
Tip #2: Determine your pricing strategy early.
It’s important that brands analyze unit economics far ahead of time to ensure they are profitable with changing pricing. You should not touch pricing within 30 days prior to the holiday season on Amazon, especially if you plan on running coupons or lightning deals.
“If you do need to change your Amazon pricing, you should do so by increasing late at night and in small increments (like $.50) at a time.”
Tip #3: Lead with a strong offer.
It’s been a tough couple of years, so it’s important to make it extremely easy for people to get offers this holiday season. Lower your thresholds to make it more easily attainable by auto-populating discount codes, avoiding multi-tier discounts, and using percentages as opposed to dollar amounts which historically perform better.
Tip #4: Build your funnel ahead of time.
There are two ways to increase revenue, either increase volume or increase conversion (or both). But timing is also important, and as Maricor says, “the early bird gets the word, or in this case, cheaper customers.” Activate your incremental prospecting campaigns before prices increase during the holidays, then retarget in a variety of acquisition channels for increased conversions.
Tip #5: Lean into the holiday spirit.
Honing in on the importance of differentiation, advertising during the holidays isn’t just about witty discount codes. Test different ideas, and make your products giftable for ease-of-purchase. On Amazon, enable gift wrapping options.
Whether you’re entering your first holiday season or you’re a Black Friday vet, this webinar has powerful insights to grow your business and have a successful end to the year.
Want to listen to the full 20 minute webinar? Check it out here.