We’re officially 60 days away from Black Friday 2023.
The number one piece of advice we will give you right now is this: fill your funnel.
You need to be prospecting new customers, getting them into your ecosystem and retention systems (email, SMS, direct mail, etc.) so that you aren’t having to spend as much on net new customer acquisition come November.
Jeremiah Prummer, CEO and founder of KnoCommerce, shared fun stats from their Q4 2022 post-purchase survey, finding that:
"1. BFCM shoppers are 11% more likely to have known a brand for 1+ months before making their first purchase.
- December shoppers are 13% more likely to “impulse buy” than early Q4 shoppers. In this case “impulse buyer” is defined as someone who buys a product less than a week after learning about it."
BFCM is a period where people are buying both for themselves and for others (gifting), and December skews heavily towards gifting.
Impulse purchases going up in December tracks there → you’re trying to get something quick for people you love but definitely didn’t think ahead to get gifts going into the holidays. A lot of those impulse buys are driven by word of mouth.
As Jeremiah says, the takeaway is that you need to be finding your BFCM customers now.
Get people aware of what you do and the benefits you provide.
Get them excited.
Give them a great reason to BUY NOW.
Nurture them until BFCM.
Give them what they want for the holildays.
Take those sweet profits to the bank.
There’s a lot of nuance here that we won’t go into today, but here are some ways you could start filling your funnel with new customers today that will make you more money without having to pay a premium to acquire them in November and December.
Some methods include:
- Get them to buy through a low-cost entry offer or product.
Later, you can upsell/cross-sell into a bigger offering, even if there is some margin lost with holiday discounting.
- Get them to buy a bundle now, and replenish or try new products during BFCM and December.
Profitable or close-to-breakeven first purchase to acquire customer, and print profits in the last 35 days of the year.
Landing page types worth testing right now:
Combos that drive to a quiz - @jonesroadbeauty does this really well.
Next, close new customers with a great entry offer using:
Long form offer page
Buy more, save more page with 3 purchase options
This is the time to be acquiring new customers and testing the ambitious strategies, landing page formats, offers, and more.
Acquisition costs are only going to go up leading up to BFCM 2023.
This are the good ole days.
Fill your funnel with new customers now, and reap the rewards (profits).