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Heading into Q4 2023, buyers have increased their spending, but they’re being selective.

According to McKinsey insights:

• Consumers are actively seeking more bang for their buck

• Among the 79% of people who say they’re adopting trade-down behaviors, 50% are buying a different quantity or pack size than usual

• 38% are shopping at lower-priced retailers

• 25% are switching to lower-priced brands or private-label goods

This means Black Friday and Cyber Monday are going to see a population of “cautious” spenders. So how do you capitalize on their increased spending while taming their caution?

That’s what we’re going to share with you in today’s Deep Dive. We’ve got another proven strategy from the $400M experts at Build Grow Scale.

This is going to be your edge to give you a profit boost ready for a wealthy Christmas!

Let’s deep dive 👇️

Marketers, you’re gonna wanna hear this. (Literally) 
Join host Jay Schwedelson in bite sized, 10 minute long episodes of the 'Do This, NOT That!' podcast. Each episode delivers transformative marketing wisdom to show you the art & science of successful marketing.

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How to Ride the Extended BFCM Wave and Flush Out Your Inventory

As you can see above, consumers have taken a cautious step up in spending.

Which means they’re pensively opening their wallets. They’re going to spend cautiously. You need a way to take advantage of that optimism.

This is where the “backdoor sale” given to us by the experts at Build Grow Scale comes in.

The promo schedule 👇️

It all starts with a private letter from the CEO…

Introducing… the “Backdoor Sale”

This promotion is going to be different to anything you’ve likely done before.

We’re going to change the “From name” for your first email. And we’re going to change the email font to Courier.

The first email will resemble a private letter from the CEO of your brand directly to your individual consumers.

This is a powerful marketing strategy used by companies that generate billions (with a “b”) of dollars from email marketing.

How your CEO letter can look:

This is a super personal email, right?

To take advantage of the full power of this promotion, create a “backdoor sale” page on your store for reduced products.

This will make it easier for shoppers to get your products as they won’t have to copy and paste a discount code.

💡 Pro tip! Try bundling your products into special clearance packs. If you’ve tracked visitor engagement on your store, you can create bundles based on shopping behaviors.

🔔 Backdoor Sale Reminders 2, 3, & 4…

At 10 a.m. the day after the CEO letter, send the first reminder about the backdoor sale. 

How to do this email:

☝️ Give a reason for doing the reduction e.g. “We know it’s easy to forget some items. We don’t want you to wait another year to get these discounts, so we’re extending the discount for the “I forgot to get…” customers so you don’t miss out!”

📦 Apply the reduction to selected products

🏃 Use a proactive CTA e.g. “Your backdoor discount has been activated on our store.”

📸 Include high-quality, mobile-optimized photos of your most-visited products over the BFCM weekend

⭐ Include reviews specific to the products in the photos

And don’t forget the “PUSH THIS BIG COLORFUL BUTTON” CTA 👉 🔴

For the next emails, keep them short. Go hard for the sale by playing on the scarcity of the deals (“Almost gone…” “Expires soon!”).

Send to all active subscribers, but exclude those who’ve purchased within the past 5 days.

💡 Pro tip! It’s bad taste to send promotions on Giving Tuesday (28th). If your brand donates to a charity, this will be a good day to ask for customer donations.

Copy this doc for all of the promo emails

Next Week, We’ll Convert the “Abandoners” into Sales

Be sure to hit the star on next week’s email before you do your Black Friday shopping, because you’re going to need it…

You see, the campaign above is a bundle promo for all of your list. But there’s extra gold you can dig up in your list if you directly target the cart and checkout abandoners…

There are 4 types of abandonment follow-ups we can do to completely clean out your warehouses. And we’ve got the ultimate method that packs them all together for an unbeatable campaign...

So be sure to join us next week when we show you who to target, how, and when (we’ll even include the promo schedule and templates) to clear out your warehouses before you open the first day of your Christmas advent calendar!

_{Matthew Stafford is CEO and managing partner of Build Grow Scale and has been consulting and growing successful, well-known Ecommerce brands for the past ten years. With nearly one billion in ecommerce revenue through our partner stores and student checkouts, I always aim to bring you the best information about what is working now in the ecommerce landscape.
https://buildgrowscale.com/ecom-profit-bootcamp}

The Early Checkout Team

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