As the holiday shopping season approaches, eCommerce brands are gearing up for the biggest sales event of the year: Black Friday and Cyber Monday (BFCM). 

Competition is stiff, and brands are clamoring for attention.  

How can you ensure your store stands out and maximizes its revenue potential?

We recently gathered insights from industry leaders at Because, Heatmap, Black Crow AI, and Intelligems in an fireside chat event focused on BFCM optimization. 

These experts shared their battle-tested strategies for driving conversions, enhancing customer experience, and boosting revenue during the holiday rush.

In this comprehensive recap, we'll dive into seven key areas of focus that can transform your BFCM performance:

1. Leveraging your returning customer base
2. Simplifying your offers for maximum impact
3. Personalizing the shopping experience
4. Optimizing shipping strategies
5. Focusing on the metrics that truly matter
6. Preparing well in advance
7. Navigating the tricky waters of price testing

Whether you're a seasoned eCommerce pro or facing your first BFCM, these actionable insights will help you craft a winning strategy for the upcoming holiday season. 

Let's explore how you can set your store up for success and make this your best BFCM yet!

1. Focus on Returning Customers

During Peak shopping periods, it's easy to get caught up in acquiring new customers. 

However, Joanne from Black Crow AI emphasized a crucial point: "Returning customers are not only generating more revenue they have higher AOVs and they're more engaged." 

This insight challenges the common misconception that BFCM is primarily about new customer acquisition. 

Instead, it highlights the importance of nurturing and leveraging your existing customer base. 

Returning customers should be a key focus of your BFCM strategy, Joanne believes, as she provides ways to cater to their needs. She notes: 

• Returning customers generate more revenue and have higher average order values (AOVs)
• They're more engaged and likely to make repeat purchases
• This creates a snowball effect of increased revenue over time

Here’s how to capitalize on the segment of existing customers:

• Segment your customers between new and returning
• Create personalized incentives for returning customers (e.g., early access to sales, exclusive discounts)
• Simplify the purchasing process for repeat buyers (e.g., one-click checkout, saved payment methods)
• Consider your segmentation when building incentives and full customer flows

2. Keep It Simple

Marc from our Because highlighted a common pitfall many brands fall into during BFCM: "One of the things I see that is a pretty common mistake during Peak holiday periods it's just over-complicating the offer." 

This insight underscores a critical principle for BFCM success - simplicity. 

As Donald Miller famously said, "if you confuse you lose," and this is especially true during the hectic holiday shopping season. 

Simplicity is key. 

Complicated offers can lead to customer confusion and cart abandonment

Thus, clarity is key, especially during the busy gift-giving season

Action steps to keep it simple: 

• Make your offers clear and easy to understand
• Ensure consistency across all customer touchpoints (email, SMS, website)
• Consider automatically applying discounts instead of using promo codes
• Clearly communicate offers at every stage of the funnel (product page, collection page, cart)
• Use personalized messaging to explain offers based on traffic source or customer segment

3. Personalize the Experience

Marc from Because emphasized the power of personalization: "One of the things that we've seen work really well for brands is personalizing to who's coming on site." 

This approach recognizes that not all customers are the same, and tailoring the shopping experience can significantly boost engagement and conversions. 

Your action steps to personalize can be as follows:

• Leverage first-party and zero-party data (e.g., quiz responses, purchase history, loyalty program status)
• Personalize based on traffic source using UTM parameters  (e.g., social media ads, email campaigns)
• Tailor messaging for different customer segments (new visitors, VIP customers, subscribers)
• Use geolocation rules for shipping-related messaging
• Personalize based on where customers are in their loyalty program tiers
• Consider offering early or exclusive access to loyal customers

4. Optimize Shipping Offers

Sam from Intelligems highlighted the importance of shipping strategies: "There's a number of levers in general when we're thinking about optimizing and like specifically testing shipping."

Shipping can make or break a sale during BFCM, so it's crucial to get it right. 

Here are some ways to optimize your shipping offers to drive conversions and increase customer satisfaction.

• Clearly communicate shipping deadlines and delivery expectations
• Test different shipping thresholds to boost AOV (e.g., "Free shipping on orders over $X")
• Consider offering free shipping for first-time buyers or as a surprise perk
• Test paid vs. free shipping to find the right balance between conversion and profitability
• Offer creative solutions for last-minute shoppers (e.g., printable gift cards, local pickup options)
• Use personalization to highlight nearby retail locations if online shipping deadlines have passed

5. Focus on the Right Metrics

Chase from Heatmap challenged a common misconception: "The biggest misconception I see is that a higher conversion rate is actually going to lead to a better business especially in Black Friday." 

This insight pushes us to look beyond surface-level metrics. 

So which metrics truly matter during BFCM to improve key business metrics?

• Focus on profit per visitor or revenue per visitor as key metrics
• Consider long-term customer value (LTV) when planning your BFCM strategy
• Balance acquisition with profitability based on your business goals
• Look at the efficiency of your funnel on a day-by-day basis
• Consider the velocity of repeat purchases in your LTV calculations
• Don't be afraid to sit out BFCM if it doesn't align with your business model (e.g., very high AOV products)

6. Prepare in Advance

Sam from Intelligems stressed the importance of preparation: "You have the whole year leading up to Black Friday Cyber Monday--the months and even the full year leading up to test and optimize your marketing merchandising strategy." 

This advice highlights the critical nature of advance planning for BFCM success: 

Effective preparation.

• Review last year's data to inform this year's strategy
• Analyze heat maps and user behavior from previous BFCM periods
• Have your testing and optimization done by late October
• Lock in your strategy at least a month before BFCM
• Avoid making major changes during BFCM unless absolutely necessary
• If you must make real-time changes, consider using a bandit test in the early hours of Black Friday

7. Be Cautious with Price Testing

Sam from Intelligems provided valuable insights on price testing: "Learning requires risk, so the question is how do we learn the most based on the risk that you're willing to take on. Price testing is an example of that." 

This perspective acknowledges the potential benefits of price testing while also recognizing its risks. 

Here’s how to approach price testing cautiously and effectively during BFCM.

• Test offer elasticity rather than price elasticity
• Consider bundle deals or limited-time perks instead of direct price changes
• If you must test pricing, limit it to new users or specific product segments
• Use A/B testing for quicker learning and more contained risk
• Consider your brand positioning and product type when deciding on price testing
• For commodity products, price testing can be effective; for luxury or brand-oriented products, focus on offer testing instead

Remember, BFCM strategy should be tailored to your specific business. 

Use these expanded tips as a comprehensive guide, but always consider your unique products, customers, and business goals when crafting your BFCM approach. 

By focusing on simplicity, personalization, and smart optimization, you can set your eCommerce site up for success this holiday season.