What’s your Black Friday Strategy? Are you Embracing the Opportunities?
There is a misconception that Black Friday only truly pays off for retailers (over £800 million was spent on Black Friday in the UK last year), while in fact, content owners can be optimizing the opportunity of the biggest shopping day of the year.
So have you got your strategy in place for Black Friday? Are you embracing advertising or direct sales opportunities?
Increase Advertising Revenues
Even though ad-blocking is here, advertising is still playing a key role in publishing and content owner’s revenues. So in the build-up to Black Friday retailers will be your best friends.
You can increase the click through rate by pushing the best Black Friday deals both on the day and build-up to the retail bonanza. It is also worth using your audience insight to your advantage. If you know what interests your readers have you can show only the most relevant ads which you know they will click on. Taking these steps can have a beneficial impact on your advertising revenues.
For those working on Black Friday, how many do you think keep up to date on the antics occurring around the world?
By offering a live feed of the Black Friday activities, seeing if they are more outrageous than last year, you are increasing your site’s traffic. Making the most of this, for those not already registered to your services, you can request personal details in order to gather audience data or request a small one-time payment to access exclusive updates.
Targeted Marketing Promotions
Every content owner, from OTT services to fashion magazines, want to attract audiences to their services and potentially sign up for a subscription. So, by offering a limited offer, which could only be used during the hours of Black Friday, you can increase uptake & revenues and acquire more customer data which can then be used for future campaigns and business decisions. You can also reach out to your current consumer base with personalized promotions which can only be used during Black Friday.
Partnering with Retailers
While online shopping has become the norm, on Black Friday the majority of purchases will take place in store. With that in mind, you can still attract consumers to your services by offering a limited print or online edition which includes a host of vouchers or coupons to a range of retailers. There is also the possibility to charge slightly more for this special edition, which consumers will pay if they there are more savings in the long run.
There is also the opportunity to truly partner with retailers, where any customer who purchases something in the retailer’s store or online gets a discount voucher to an OTT or online subscription. This can also be flipped the other way where anyone who registers or signs up for a publisher’s service on Black Friday receives a discount to use either in-store or online.
Both these methods can help drive traffic to a content owner’s site, potentially drive subscription uptake and help increase revenues, all whilst providing more information about the market and their habits.
Driving Data and Revenues
One final consideration for your Black Friday strategy is ensuring your online platform can handle the increased uptake, whether this is the amount of traffic visiting your site or the increased number of transactions or data. So make sure you have a secured and powerful platform in place to support the biggest shopping day of the year.
Whichever strategy you adopt for Black Friday know that in some form it will have an advantageous impact on your business. Seize this opportunity to increase revenues and collect rich audience data which can be used to drive future business decisions, promotions and digital content growth.