The 5 steps to plan Cyber Monday 2020 marketing starting now are:
- Decide on the campaign goals
- Choose the right marketing channels
- Understand the economics of the deals
- Document the activities, spend and KPIs
- Prepare a business case to demonstrate ROI
Planning for Cyber Monday in 12 weeks’ time
In this unpredictable year of a pandemic, there are still a few causes for optimism. Firstly, the kids are back at school which is a relief for many. Secondly, we are on the home straight towards Christmas. Thirdly, the biggest sales event of the year may have more significance than ever with all that pent-up demand. Read our handy guide to 5 steps to plan Cyber Monday 2020 marketing starting now.
Hot on the heels of Black Friday comes Cyber Monday on Monday 30th November, just after the last major payday for many before the festive season. This represents a good chance to snatch last-minute deals or dump unspent budget before 2021. Once considered the realm of B2C, B2B businesses also make deals and offers to steal a march before the year closes.
Keep reading to find out how to start your planning.
Why is Cyber Monday 2020 marketing important?
Cyber Monday marketing is important if your focus is on technology. Unlike it’s Black Friday cousin, Cyber Monday focuses on IT hardware, software and services. Everyone from Software as a Service (SaaS) providers to hardware and services resellers to retailers and technology stores are involved. Even the telecoms and IT sector who offer solutions and smart home gadgets get in on the action.
Planning your marketing ahead of Cyber Monday means deciding early on your strategy around the products or services you wish to drive. After all, many products and services offered on the Black Friday weekend are exclusives to that weekend. For many, this is a great chance to sign new customers, clear unsold stock or make way for new lines of products as they pour in for December.
Before starting on your Cyber Monday marketing plan, consider the following three questions:
- What stock can you get hold of to promote or bundles to assemble?
- Are your order systems and online infrastructure rock solid for more visitors?
- Is there likely to be a net positive financial benefit of the promotion?
Steps to plan your marketing for Cyber Monday
The above steps to plan your marketing for Cyber Monday will tell you whether it is worth investing in specific channels or to promote lower margin deals. In most cases, software and technology businesses will decide that they need to compete and craft something with a target profit.
Firstly, deciding on your campaign goals depends on understanding what you have to work with and whether you want acquisition, cross-sell or upsell. This also determines what marketing channels you might use for your campaign based on what works for your business, customers, market and product and services as outlined in your marketing plan.
Additionally, the economics of deals helps you determine where to focus most and which channels you can afford to play with. You should now document the plan with the activities, spend and measures you will track to demonstrate success and ensure a profit.
Finally, once you know what you have to sell, the campaigns to launch and metrics, you may need to present a business case. Whilst product managers and commercial teams are keen to shift stock and sales teams to increase service sales, the numbers need to stack up during a pandemic. If your CFO or FD needs to approve the investment, you may need support to pull together the analysis.
Why it pays to start now
Unlike many other marketing campaigns and promotions, Cyber Monday is critically dependent on stock for many. For all, it takes time to plan the bundles and promotions you will run. With only 12 weeks left to run, those that are planning to wait until October may be in for a surprise. Lack of stock, bundles without the right processes and procedures or website glitches can all cause your promotion to backfire.
Furthermore, by definition your Cyber Monday personas are going to be more technically-savvy than the average customer. This means they are less likely to be accepting of order delays, stockouts, poor customer experience or an unpredictable online journey. Unfortunately, this either means a high volume of returns that reduce your profit or poor reviews and loss of customers. It pays to plan ahead so you should start now.
To reach for support with your Cyber Monday marketing, why not fill-in our simple enquiry form and we will be in touch.
Plan with the right support
Here at Think Beyond, we have substantial experience in the IT, technology, software and telecoms sectors. We are ideally placed to support your Cyber Monday marketing planning to maximise the upcoming opportunity.
As a marketing consultancy that also delivers your marketing services, we are a handy single point of contact to support you. Would you like to offload some of your extra work and boost your contribution to the bottom line?
In conclusion, we support with marketing strategy and plans, both long-range strategic and short-term planning. We have qualified marketers and a team of digital and creative experts at hand.
Why not see how we can lend you a hand by calling 01565 632206 or email sales@think-beyond.co.uk.
Alternatively, fill-in our simple enquiry form and we will call you back to arrange a fact-finding session.
Finally, why not check out our digital and advertising services and content marketing support.