Mind the Gap: Common Areas You May Be Overlooking in BFCM Prep

Black Friday / Cyber Monday (BFCM) is rapidly approaching, and retailers are putting the finishing touches on their BFCM plans. If you find yourself going down risk assessment rabbit holes, wondering what you could be overlooking - look no further! We’ve identified 5 areas retailers often miss in the busy shuffle of planning that could be the secret to making or breaking your BFCM success.

1. Testing 123

Slow-loading websites are a conversion liability. When was the last time you ran a report on your website’s speed and performance? Have you stress-tested your infrastructure for an increase in shoppers? BFCM testing should also include checking for broken links, optimizing mobile responsiveness, and verifying that there are no issues with your payment gateways.

2. Inventory Management: Selling Out Doesn’t Have to Disappoint

Running out of stock during BFCM is not just a missed opportunity; it can disappoint customers and hurt your brand. An often-neglected aspect of BFCM prep is having a robust inventory management plan in place. Monitor stock levels closely and have a restocking strategy in place. If an item runs out of available stock - consider offering alternative products. Platforms such as Rebuy employ smart merchandising to analyze customer behavior and trends to help your shoppers find the right products - even if what they originally wanted is sold out.

3. Customer Support: Satisfaction Builds a Loyal Base

It takes a village of coordinated efforts to get your customers over the finish line, but many retailers overlook how customer support can increase conversion and average order value (AOV). Response time is crucial - using an automated support tool like Gorgias’ Quick Response Flows will provide customers with quick answers to common questions and can deflect over 30% of support inquiries, freeing up time for your support agents to spend on higher-value conversations. You’ll want to invest time in educating your support team on ways to effectively showcase upsells and cross-sells, as well as promoting the benefits of loyalty and rewards programs. Remember, exceptional customer service during BFCM can turn first-time buyers into returning, loyal customers!

4. Competitor Analysis: Staying Ahead of the Curve

The competition is stiff during the biggest shopping event of the year, your competitors aren’t taking it lightly, and neither should you. Conduct thorough competitor analysis to understand their promotions, pricing strategies, and marketing tactics. This insight can help you bridge the gap in your own BFCM offers and ensure you remain competitive.

5. Post-BFCM Retention Strategy: Building Long-Term Success

The most overlooked strategy ahead of holiday season is how to immediately pivot from a strong acquisition playbook in Q4 to a strong retention playbook in Q1. Retention is time-sensitive, making it vital to prepare your playbook before BFCM and before you capture a rush of first-time customers.

Here’s the biggest problem: if you try solving this in Q1, you are too late. You likely intend to use email & SMS to bring your first-time customers back, but you’re missing a critical insight: more than 95% of your first-time customers will checkout as guest. No account. No rewards. No wishlist. No personal connection to your website.

Apps like Status help you capture 2x-8x more first-time customers inside your accounts. Creating an opportunity for you to reengage first-time customers with a personalized dashboard & drive more repeat purchases in Q1.

The Wrap Up

A strong post-BFCM strategy is vital for keeping customers engaged and returning long after BFCM ends. Gamma Waves offers Post-BFCM Audits to clients to assist them in unlocking these areas of opportunity.

By identifying what worked and what didn't during holiday sales, we'll translate these findings into data-driven recommendations for future campaigns, marketing strategies, and recommendations for enhanced customer engagement, streamlined operations, and ultimately, increased profitability.

To recap, you still have plenty of time to address these commonly overlooked areas of BFCM prep. Test rigorously, manage your inventory wisely, provide stellar customer support, stay vigilant with competitor analysis, and have a rock-solid post-BFCM strategy in place.

By covering these gaps, you'll be primed to achieve a profitable BFCM and ready to continue building upon its success! Still feel like you need some added BFCM support? Drop us a line!