Subscription Pie

The Subscription Pie Is Getting Bigger: How to Leverage It This Black Friday

Black Friday is one of the biggest events for eCommerce businesses. eCommerce retailers prepare for the festivity of this event the whole year. On this specific day, the demand and supply chains are all charged. The businesses make record sales and set new sales targets for the coming year.

The most hectic tasks are of sales teams. They need to be all active, especially on Black Friday. We are here to help you leverage this biggest shopping day of the year.

The first thing that you need to do is to see Black Friday beyond a day to make record sales.

So, what is it that you are probably missing while curating your Black Friday eCommerce Strategy? Let us tell you!

Also Read: eCommerce Subscriptions Are Here to Stay—Learn to Optimize Subscription eCommerce Billing & Management to Fuel Stability & Growth in Business

One-Day Branding

Black Friday can be an even bigger day for eCommerce subscription billing startups and small retailers. If small eCommerce businesses plan well, they can brand their business in just one day. However, for that, they need:

  • In-depth market research
  • Analysis of the competitors’ businesses
  • Lucrative sales and discounts
  • Effective marketing of Black Friday discounts and sales
  • After-sale follow up

The most important thing is the discount or the offer that you are going to propose to your clients. And the second thing is the marketing of discounts that you are about to offer. Here, you will need to increase your marketing budget. Being a startup, sparing a huge chunk of money for marketing may sound insane, but believe it if your planning is effective, it is totally sane. It can help you build your brand in one day.

When you know that your product is up to the mark, and the discount is lucrative enough, then the only thing is to thoughtfully take your product to social media platforms and portray it in the best way. Understand the power of social media—that plays the most significant role that will make your business a brand in one day.

Customer Experience

Other than sales, the most important factor that eCommerce retailers forget in all the hustle is the customer experience. First, it is to be found that what is the reason that within a single day many eCommerce platforms end up affecting their customer relations so badly.

That reason is the checkout experience.

What eCommerce platforms do is they succeed in coming up with exciting offers, discounts, and sales. The customer starts coming. As soon as there is a boom in online traffic to their eCommerce platform, the payments fail. Why? Sometimes it is because of a busy server and sometimes because the payment gateway is down. However, there can be numerous other technical reasons for that.

So, it is not just the payment that fails. Here is what happens:

  • The customer fails to shop.
  • His time is wasted.
  • Some customers get their subscriptions cancelled

All these factors contribute to making the customer feel FOMO (Feeling of Missing Out) on the biggest shopping day of the year. And that’s what leads to the bad checkout experience that ends up in the overall poor customer experience.

Now, you see there is an opportunity that can benefit a lot to all eCommerce businesses, however, there is an attached risk factor. So, how to avoid this risk factor? Many experts will tell you to first increase your eCommerce website highly responsive and curate attractive subscription boxes. However, we will take you beyond.

Also Read: How to Manage eCommerce Subscriptions with SubscriptionFlow

 Start Your Campaign Early

You cannot plan and expect it to work on the eleventh hour. So, your need to start your Black Friday planning and campaign early. You need to create a buzz about whatever you offer on Black Friday in advance so that people wait for what you are going to offer them in the coming up shopping season.

Track Customer Data

You cannot deny the importance of customer data. You must monitor the customer data of previous Black Friday sales. Find the loopholes in your previous years’ plan and make sure you avoid them this year. Only data insights can help you orient your Black Friday campaign in the right direction. Data insights are a must to meet the sales target. Not only the customer data but also track the data of the warehouse so that you have stock enough to meet customer needs on this crazy shopping day of the year.

Gear Up Support Team

You need a highly active customer support team to make Black Friday a successful sales day. Especially SaaS businesses support persons need to be on their toes because customers need your assistance when there are stuck somewhere. It is better to train your support teams exclusively for Black Friday. For instance, if the customer is facing difficulty in paying online (one of the most common issues that eCommerce customers come up with), your support team should efficiently guide the customer aptly.

Work on BFCM Promo Codes

You should also start working on the Black Friday Cyber Monday promo codes because next to this shopping day is coming up a busy Monday. Prepare for it. Promo codes will add an element of urgency for the customers. so, always make BFCM make part of the plan. That way you will prepare for not only Black Friday but for Cyber Monday (another event) as well.

Also Read: How eCommerce Businesses Need to Prepare for Black Friday 2022

The subscription business market is huge. You just need to make a plan for this Black Friday. However, implement your eCommerce subscription billing business strategy for Black Friday through SubscriptionFlow.

Schedule a demo with SubscriptionFlow!