Andrew Faris analyzes 7 key lessons from Black Friday Cyber Monday 2023, offering data-backed insights on what strategies proved effective and what didn't. This episode is crucial for ecommerce operators looking to refine their peak season strategies, optimize ad spend, and improve overall campaign performance for future sales events.
Key takeaways
Performance Max campaigns showed mixed results; some brands saw success while others found them inefficient, highlighting the importance of strategic setup and audience targeting.
Early Black Friday promotions cannibalized Cyber Monday sales for many brands, indicating that elongated sales periods might dilute impact rather than amplify it.
Owned marketing channels (email and SMS) were critical for driving traffic and conversions, underscoring the need for robust segmentation and compelling offers.
Despite economic pressures, consumers were willing to spend on perceived value, emphasizing the importance of strong brand messaging and unique selling propositions.
Brands that offered clear, concise deals and simplified the customer journey outperformed those with complex promotions or lengthy checkout processes.
Success!
That was mostly what I felt after BFCM this year, including 3 clients with their biggest revenue days ever.
But that doesn't mean everything was a win this year. And after a couple weeks off to manage the BFCM chaos, I've analyzed the results and collected my top 7 lessons from the biggest week of the year in ecommerce.
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EPISODE HIGHLIGHTS [00:01:28] Ad account strategies. [00:03:48] Maximizing Black Friday customer acquisition. [00:06:46] Bid caps for Black Friday. [00:10:07] Bid caps and overspending. [00:13:31] Media buying on Friday. [00:15:16] Delayed attribution multiplier. [00:19:16] Delayed Purchase Multiplier. [00:21:15] Launching your sale early. [00:24:01] Machine learning and ad performance. [00:27:54] Diverse types of ads. [00:30:28] Managing brand expectations during big moments. EPISODE SPONSOR
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REFERENCED IN THIS EPISODE: @clickyricky's Bid Cap Tweet FOLLOW UP WITH ANDREW Follow Andrew on Twitter: @andrewjfaris Email Andrew: podcast@ajfgrowth.com Work with Andrew: www.ajfgrowth.com
What does this episode say about paid acquisition?
Performance Max campaigns showed mixed results; some brands saw success while others found them inefficient, highlighting the importance of strategic setup and audience targeting.
What does this episode say about dtc strategy?
Early Black Friday promotions cannibalized Cyber Monday sales for many brands, indicating that elongated sales periods might dilute impact rather than amplify it.
What does this episode say about email & sms?
Owned marketing channels (email and SMS) were critical for driving traffic and conversions, underscoring the need for robust segmentation and compelling offers.
What does this episode say about conversion & cro?
Despite economic pressures, consumers were willing to spend on perceived value, emphasizing the importance of strong brand messaging and unique selling propositions.
What does this episode say about paid acquisition?
Brands that offered clear, concise deals and simplified the customer journey outperformed those with complex promotions or lengthy checkout processes.
