Boost Your BFCM Sales: Exclusive Discount Strategy for Shopify Store Owners
The largest sales day of the year, Black Friday and Cyber Monday (BFCM), presents Shopify business owners with a fantastic chance to increase their earnings greatly.
Discounts & Sales can never go OUT OF TREND! And the idea of discounts and offers on special days/occasions/specific dates is a green flag for online store owners.
Making sure your BFCM Shopify store is ready to draw customers and stand out is crucial because there are a lot of retailers vying for customers' attention during BFCM.
As you must be aware, many eCommerce stores promote related products for the festivals or special days they target to grab customers' attention.
Discounts or sales are good ways to inform customers of the product range and market your products at an appropriate time.
More than just an occasion it is a golden opportunity for businesses to mint money.
What is BFCM?
Let's learn, what exactly is BFCM, then. The two biggest shopping occasions of the year, Black Friday and Cyber Monday, are referred to as BFCM.
Customers look forward to BFCM because of the significant deals, discounts, and exclusive offers in both physical and online retailers. Businesses can increase revenue, acquire new clients, and reduce inventory by utilizing BFCM.
But you must plan far ahead if you want to maximize sales. The competition is fierce since most companies provide enticing discounts and offers to both new and returning clients.
When is BFCM 2024?
Since 29th November is Black Friday, offering some great deals can be a perfect way to boost ecommerce sales.
Black Friday sales are trending all over the world, as it is one of the busiest shopping days.
Types of BFCM Discounts Strategy to Increase Sales
Scenario A pictures a shop where the discounts are mega discounts but the prices of products even after discounts are not at all compatible.
Scenario B talks about a shop where discounts are minimal, but the prices of products after discounts are affordable.
So, when we talk about discounts it revolves around the 'Pricing Policy'. Therefore it is very crucial to understand that running offers and discounts requires an in-depth knowledge of customer's preference, price sensitivity, and offer's impact. Sounds technical?
We understand, therefore we have already mentioned below a few discount strategies to increase sales on Black Friday!
Product Bundle Deals
Buy an influencer make-up kit - that has foundation, lipsticks and eyeliners. All are available at a flat discount of 20%.
Remember seeing such advertisements around New Year? Where in one advertisement multiple products are promoted and are considered in the bunch. Therefore the name of the scheme is 'Product Bundle Deals' - here we are promoting products in a bunch. This strategy is helpful to increase conversion rate.
Best Shopify Apps for product bundle:-
- Pumper bundles and discount
- Bundler - product bundles
- Unlimited bundles and discounts
Percentage(%) Based Discount
The most trendy format of discount is on the chart. Yes, while scrolling social media or hunting for a product online you must have come across the word 'Flat 15%' discount. So the percentage in the frame plays a crucial role.
It can be a flat rate or in the form of a bracket like 20-25% discount, where all the products are available for different percentages of discount. To improve brand awareness you should provide the best discounts on your products.
Free Shipping
That sparkle in the eyes as soon as the customer reads 'Free Shipping' is unmatchable! It is an old-school idea to attract customers but it always works!
You can provide free shipping for all the orders or can add a clause of minimum bill/cart value.
E.G. Free Shipping on orders above $100.
If you want to increase sales with Shopify apps discover the best Shopify apps to increase sales.
Free Gifts and Rewards
Get an earphone free on the purchase of a new phone!
Found it attractive? Yes, many customers will find this attractive!
Everyone likes gifts and rewards - like everyone, barely any exception!
The idea of providing a gift need not act as an add-on expense if you have planned it properly. Based on the margin of purchase item - you should select which item you'll give as a gift.
BOGO Offers
Buy One Get One; commonly known as BOGO. Here the point of attraction is to give customers more than they shop! Like giving one purse free with a purchase of a travel bag! Buy one and get one can be applied to products of the same category or you can promote it as Buy anything from our website and get the other item free!
While applying for this offer, a lot of Shopify store owners feel hesitant. Wondering Why?
Because they feel if they give one entire product for free, how will they cover the cost?
So the clue is to provide the higher-cost item as a chargeable item and the lesser-costing item as a freebie!
Cross-sell and upsell with exclusive discounts during BFCM - Is this a new term for you? Well, the term may be new but you must be very well aware of the concept.
Wait!
Remember: When you are surfing to buy a phone and after a while you see phone covers popping up on your mobile screen? That's the concept of cross-sell.
Now you must be wondering what is the difference between upselling and cross-selling. The answer is simple! Upselling is meant to add to the sale value by adding upgraded products, whereas cross-selling is meant to enhance sales by adding related products.
So, we hope all these tactics will help you grab the benefits of the Black Friday Sale!
But are you still looking for something more?
Something that helps you grow faster?
We heard you!
Bonus Tips: Maximise Your Shopify Store BFCM Sales
Turn the Shopify store into a Mobile App
Time spent on smartphones: 91.9% of time spent on smartphones is spent using apps, while only 8.1% is spent using web browsers!
Did this raise your sales?
Based on this data, having an app for your Shopify store will be more beneficial to grab the attention of customers.
How to turn Shopify store into mobile app in just a few minutes.
Building a mobile app for the Shopify store requires a qualified and tech-savvy person to do the job. Also, the person should be able to understand the company's vision and mission to develop the app as per the theme of the company!
Uff! Too many things to be taken care of for developing an app? Why don't you rely on professionals to do the same? They are the best at what they do!
LEO mobile app builder is the perfect solution for mobile apps. It has several features to create a fully functional app. Shopify mobile app builder
Easy and One-click Checkout
Keeping the checkout process easy and simple will boost quick checkout and will also make customers feel that the company follows transparency.
Provide Multiple Currency Options
Not just multiple currencies but also multiple gateway options will help you retain customers. A lot of customers still prefer COD, while others may be relying on credit cards.
Hence. Keeping multiple payment gateways open for customers will ensure increased sales!
Optimise User Experience
Yes! That matters the most! Website or App should be user friendly, it should focus on giving customers the best experience. It will act as a USP or add-on benefit. Improve user experience on the mobile app.
Conclusion
Planning and execution are the two main things you need to enjoy the fruits of Black Friday sales! This holiday season make your Shopify store a customer magnet by making an app & expect sales to rise!
Every retailer is fighting for customers' attention during Black Friday and Cyber Monday (BFCM), which is a period of fierce rivalry.
It can be difficult to stand out if you lack a sizable marketing budget or a devoted clientele.
Having a mobile app becomes essential in this situation.
You may increase your mobile conversion rates with a mobile app and spend less on advertising, which gives you a competitive advantage.
You may deliver targeted push alerts, personalize shopping experiences, and build stronger relationships with your customers by using a mobile app.
