Online shopping is a worldwide phenomenon and an essential part of one’s life. Shopping from home makes it convenient for consumers and more manageable than going to the store to find a certain product.
Elie Katz, President and CEO of National Retail Solutions (NRS), said customers can use the search bar on the company’s website to find a product instead of searching all over the store.
“With the rise of eCommerce, it’s only natural that the number of online shoppers worldwide rises along with it. As it stands in 2021, the number of digital buyers is at 2.14 billion. That makes 27.6% of the 7.74 billion people in the world,” Katz said. “This means that one out of every four people shops online. Businesses that do not have an online presence should seriously consider getting one, as many consumers do not shop in person as frequently as they used to in past years.”
Companies with an online presence have the advantage of expanding their customer base, and with sales events like Cyber Monday approaching, they may be ahead of the competition.
The Monday after Thanksgiving is Monday, November 28, Cyber Monday, the digital equivalent of Black Friday. It is the biggest day of the year for online shopper traffic as consumers look for cyber sales and deals. Cyber Monday in 2020 racked up $10.7 billion in spending, and people have come to expect better online holiday shopping discounts than in-store.
“The online competition is endless, so merchants must be prepared with the best promotional, sales, and marketing strategies,” Katz said.
He offered small businesses some key Cyber Monday promotion tips:
Brainstorm Which Items You Want to Promote
A business owner can promote their products in a variety of ways. One method is to promote the products on their website. To entice customers to buy from the store, they need to create sales and promotions on certain products to make them stand out.
“Promote popular items, including brand-new technology, trending clothes, or jewelry. If a business owner finds that there is overstock and wants to get rid of them, they can also promote those items and display them on the website’s home page,” Katz said. “Customers will know which products are on sale and are more likely to purchase them if they have an attractive display in front of them.”
Owners can also create a tab with the word “SALE” in bold red letters on their main menu tab. Once they have that setup, business owners should also focus on restocking popular items.
Make Sure Inventory is Stocked Up on Popular Items
What you don’t have, you can’t sell. Merchants can hope that the items will arrive on time from their wholesaler or distributor. Of course, this is a significant risk and not the best idea.
“Make sure to stock up on items that will sell out quickly. Leverage your point of sale system for its inventory tracking tools, so that you’re not just relying on checking your shelves and back room. It is best to place the order at least a few weeks before the Cyber Monday event,” Katz said. “Customers are eager to get their hands on any item on sale. If the store does not have those items in stock, business owners risk losing customers who become frustrated because they cannot get what they want and will go to a competitor. Customers who shop online are the most impatient. They’ve been conditioned to expect anything they buy to be delivered quickly.”
Promote on Social Media and Through Emails
Be sure to promote Cyber Monday deals beyond the store’s website. Cross-promote through all social media channels, including Instagram, Facebook, Twitter, and TikTok. Merchants can promote on different channels depending on each social media platform’s demographics. Businesses could miss significant revenue opportunities if they don’t use social media as a marketing tool.
“When customers shop online, merchants should also create an email list for them. Create an ad that prompts customers to enter their email addresses to be added to the mailing list before they enter the store’s website,” Katz said. “The advertisement should also explain what the consumer is signing up for, such as the emails they will receive, such as coupons, updates, and sale announcements.”
It’s vital to your small business to be best prepared for Cyber Monday, the biggest digital shopping day of the year.
“You can attract these first-timers through effective promotions and special deals that will generate word of mouth among your existing consumers. Enjoy the profits while your customers enjoy your sales,” Katz said.