Black Friday 2024: How the Winners Won Black Friday and Cyber Monday

Black Friday and Cyber Monday 2024 have come and gone, leaving a trail of online shopping carts and satisfied customers. As the dust settles, we spoke to one Sydney based agency to take a deep dive into the strategies that propelled certain ecommerce clients to out perform their competitors.

The Strategies of the Winners

Let's break down the key strategies employed by the top-performing retailers:

1. The Early Bird Catches the Worm (But Not Too Early)

Some retailers started their Black Friday promotions weeks or even months in advance. While this strategy can generate buzz and anticipation, it can also dilute the impact of the actual Black Friday deals.

Tran^, the head of client services for the agency we interviewed in Sydney said "The clients that have done the best have had an offer available to customers so they didn't lose out completely to competitors who started early, but they also reminded their loyal customers something special was coming on Black Friday. If the customer wanted the product now, and were willing to accept a smaller (but still generous) discount earlier they took it - some customers waited for the big discount and hoped stock would be available."

The winning strategy: A more measured approach. Retailers who didn't start too early but gradually ramped up their promotions leading up to Black Friday were able to build anticipation without sacrificing the specialness of the event.

2. The Art of the Black Friday Launch

Many retailers treated Black Friday as just another shopping day, extending their promotions into Cyber Monday and beyond. While this can help maintain momentum, it can also diminish the unique appeal of Black Friday.

Tran's^ answer to our question about whether Black Friday was a month or a day was clear and straight to the point "Our data shows the ecommerce retailers that did best were the ones that planned well, knew their customers and treated Black Friday as the day it is. Much like how the traditional retailers have all but removed Christmas decorations for Boxing Day sales because on December 26th Christmas is over, our best performing clients take a similar approach to Black Friday. It's here, it happens, and then it's gone".

The winning strategy: A focused Black Friday approach. By keeping the specialness of Black Friday confined to the actual day, retailers were able to create a sense of urgency and excitement. This strategy also allowed them to pivot to Christmas promotions more effectively.

3. The Power of Strategic Promotions

Offering substantial discounts throughout the year can reduce the effectiveness of Black Friday deals.

The winning strategy: A well-timed promotional boost. By offering a significant discount leading up to Black Friday and then adding an extra layer of savings on the actual day, retailers were able to maximise the impact of their promotions.

4. Understanding the Customer

The most successful retailers were those who truly understood their customers' desires and preferences. They tailored their offerings to specific demographics, leveraging data and insights to create highly targeted promotions.

We asked Tran how important knowing customers is when it comes to Black Friday or whether you can just put a big discount on something and know you'll be successful. On this point Tran was also clear "the clients we saw perform the best really know their customers. They aren't winging it they planned planned planned and then actioned actioned actioned. This was good, old fashioned, marketing and promotions. Really good marketing stands the test of time, Black Friday is just another promotion like Christmas or Valentine's day."   

The winning strategy: A customer-centric approach. By focusing on the needs and wants of their customers, these retailers were able to drive higher engagement and conversions.

The Big 3 Working together: Social Media, SEO and Email Marketing

Social media platforms offer a unique opportunity to engage with potential customers on a personal level. By sharing valuable content, running engaging contests, and offering exclusive promotions, businesses can attract a highly targeted audience.

• Lead Generation: Social media can be a powerful lead generation tool. By offering exclusive discounts or early access to Black Friday deals in exchange for email addresses, businesses can build their email lists.
• Brand Awareness: Consistent and engaging social media activity can help increase brand visibility and drive traffic to your website.
• Community Building: Fostering a strong online community can help build brand loyalty and generate word-of-mouth marketing.

Email Marketing: The Personalised Touch

Email marketing remains one of the most effective ways to reach and engage with customers. By segmenting your email list and tailoring your messages to specific customer interests, you can deliver highly personalised and relevant content.

• Targeted Promotions: Email marketing allows you to send targeted Black Friday promotions to specific segments of your audience, such as loyal customers, first-time buyers, or inactive subscribers.
• Customer Journey Nurturing: By sending a series of emails and social media communications leading up to Black Friday, you can build anticipation and excitement, increasing the likelihood of conversions.
• Post-Purchase Engagement: After Black Friday, continue to nurture customer relationships through personalised email campaigns, such as thank-you messages, product recommendations, and exclusive offers.

SEO: The Foundation for Organic Growth

Search engine optimisation (SEO) is the cornerstone of any successful digital marketing strategy. By optimising your website ¹ for relevant keywords, you can attract organic traffic from search engines like Google.

• Keyword Research: Identify relevant keywords related to Black Friday, Cyber Monday, and your product offerings to optimise your website content.
• On-Page Optimisation: Optimise your website's title tags, meta descriptions, and content to improve search engine rankings.
• Technical SEO: Ensure your website is technically sound and easy to crawl by search engine bots.

The Synergistic Effect

To maximise the effectiveness of these three channels, it's essential to integrate them into a cohesive marketing strategy. Here's how:

• Social Media to Email: Use social media to drive traffic to your website and capture email addresses.
• Email to SEO: Include links to your website in your email campaigns to improve your website's authority and domain rating.
• SEO to Social Media: Share your blog posts and other valuable content on social media to increase visibility.

By working together, social media, email marketing, and SEO can create a powerful synergy that drives customer acquisition, boosts sales, and builds long-lasting customer relationships.

Key Takeaways from Black Friday 2024

• Timing is Everything: A well-timed promotional strategy can make all the difference.
• The Power of Exclusivity: Creating a sense of urgency and exclusivity can drive sales.
• Treat Black Friday as a Day, not a month: Customers know Black Friday is coming up as much as your business does. Offer customers a deal leading up to Black Friday if they just can't wait, but offer those that are patient just a little something extra. 
• Customer-Centric Approach: Understand your customers and tailor your offerings accordingly.
• Data-Driven Decisions: Leverage data to inform your marketing and sales strategies.

As we look ahead to Black Friday 2025, it's clear that retailers must continue to innovate and adapt to evolving consumer behavior. By understanding the lessons learned from this year's event, businesses can position themselves for even greater success in the future.