Black Friday Marketing Strategy (Live Case)
Andrian Valeanu
3 replies
Hey makers!
I'd like to discuss the Black Friday strategy that we have in place for this year. And we would be grateful to hear your thoughts in relation to this idea.
This year, we have designed three tiers of coupons, each of that can only be redeemed a certain number of times. In details it looks like this:
- first tier: 100 coupons -> save 40%
- next tier: 100 coupons -> save 35%
- final tier: 100 coupons -> save 30%
We have added a banner at the top of the website that displays the current amount of coupons that are still available to be used. In addition, we have created a landing page dedicated to Black Friday, which can be found at https://designmodo.com/blackfriday/. This page contains further information regarding our sale.
What are your thoughts on this particular method of Black Friday marketing strategy? Is it more effective than a basic distribution of a fixed discount code that may be used an unlimited number of times?
Replies
Vasil@vasilfesbun
In my opinion, that is a good idea. I think that both the restricted number of coupons and the % are contributing factors to this case of fear of missing out (FOMO). I really hope that this would be helpful to you in terms of sales.
Share
Hey Andrian. I wouldn't say "bad idea" per se, but I think simplicity is key and it becomes more apparent each year as more and more businesses go online and are competing for client's attention. If it takes me more than 5 seconds to understand the dynamic on your black friday sale, as a customer, I'd drop out. It could work on the FOMO side that Vasil mentions, but I'd limit it or try to work on the communication side of it so the client doesn't even flinch when reading the value prop. In my experience static promo codes work best because they're easy and straight forward.
IMHO I think it's a bad idea at the moment. Because due to inflation and impending recession everyone is price sensitive. So if a person lands on the pricing page and notices that the highest discount of 40% is gone already, he might not make the payment.
Similarly, if a person lands on your page and sees that both 40% and 35% discounts are already finished he will be even more unwilling to continue with the payment.
This would be the case for most products. But if the product is of almost importance or provides incredible benefits to the customer the above case can be avoided.
Let me know if my assumption is valid since you have access to your data.