Cyber Weekend 2020: What to Expect & How to Prepare
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This document provides information to help brands prepare for Cyber Weekend 2020. It predicts that: - Ecommerce sales in 2020 could hit $1.1 trillion, much higher than the pre-pandemic projection of $691 billion, due to more consumers shopping online during the pandemic. - Cyber Weekend sales in 2020 could reach $51 billion, potentially making it bigger than Cyber Weekend 2021, as consumer behaviors have shifted more to online shopping. - Brands should focus on growing their audiences and re-engaging contacts in the lead up to Cyber Weekend through email marketing, website optimizations, and testing automations.
Cyber Weekend 2020: What to Expect & How to Prepare
- 1. Cyber Weekend: What to Expect and How to Prepare
- 2. Mary McCoy Demand Generation Marketing Manager Eric Miller Director of CRM & Email Lizzie Nirenberg Partner Marketing Manager
- 3. What is Klaviyo? Email SMS Onsite forms Segmentation Analytics 400 Employees Globally 40,000 Customers 82 Countries
- 4. What is Klaviyo? Only marketing platform that helps ecommerce businesses on day 1 and scales as they grow
- 5. Housekeeping Webinar recording available Additional content available at klaviyo.com Email [email protected]
- 6. 1 2020 Ecommerce Landscape 2 Cyber Weekend 2020 Predictions 3 Agency Spotlight: Tinuiti 4 What to Do Next 5 Q & A Agenda
- 8. Source: Digital Commerce 360 Pre- COVID outlook US ecommerce sales grew 14.9% from 2018 to 2019. Applying the same growth rate this year, we expected 2020 ecommerce sales to reach $691.4 Billion. 20192018 2020 14.9% growth $523.64 B $601.75 B $691.4 B U.S.Ecommerce Sales($ $800 B $600 B $400 B $200 B $0
- 9. Stores close Country goes into lockdown Pivot to online shopping Then COVID19 hit
- 10. What brands should do about it Sharing Insights Predicting the future We’ve been busy Collecting data Two surveys: one for brands, one for consumers Mining data across 43,000 brands
- 11. What did we discover? Klaviyo research shows that 90% of consumers are now shopping online, which is up from 70% at the start of the pandemic. 90 Ecommerce is booming. %
- 12. 2020 will be the biggest year ever for ecommerce sales.
- 13. This year, ecommerce sales could hit: $1,100,000,000,000 A drastic difference from the $691.4 billion pre-pandemic projection.
- 14. Amazon growth in 2020 ● $88.9 billion in Q2 Sales ● $1 billion in sales every day ● Amazon represents more than one-third of ecommerce sales Amazon growth Source: VentureBeat
- 15. This year, Cyber Weekend sales could hit: $51,100,000,000 Historically, Cyber Weekend has accounted for 4.72% of ecommerce sales according to Adobe. Cyber Weekend 2020 could be bigger than Cyber Weekend 2021.
- 16. Could our projections be off? Sure.
- 18. 5 drivers of the largest BFCM ever 1 Consumer shopping behaviors have shifted, but they’ll never entirely shift back. Online is the new normal. 2 An ongoing first wave and an imminent second wave of the coronavirus will continue to upend our daily lives. 3 Department stores are experiencing an inventory problem and it’s flying under the radar. 4 Discounts once reserved for Cyber Weekend will appear earlier and more frequently this fall. 5 BFCM shopping behavior will shift again due to social distancing restrictions and retail planning
- 19. Another key driver? Cyber Weekend sales are driven by consumers who engaged with the brand prior to Q3 that same year. 60%
- 20. This year, consumer-brand discovery is at an all-time high New customer spending vs. repeat spending
- 21. Consumer behavior has shifted Klaviyo research shows 46% of consumers are shopping from and engaging with new brands. With an influx of new customers in Q2 and beyond, many brands already have the foundation for a successful holiday season – but now is the time to act. 46%
- 22. Email performance is through the roof Email driven revenue is up 86% compared to the pre-COVID time.+86% +22% increase in open rates +43% increase in email clicks +60% increase in revenue per recipient
- 25. Lizzie Nirenberg Agency Marketing Manager Eric Miller Director of CRM & Email MODERATOR PANELIST
- 26. Tinuiti is the largest independent performance marketing agency across the triopoly. Some of our clients Our recognition
- 27. How is Cyber Weekend planning going this year compared to years past?
- 28. What are you expecting performance to be like this year? What factors should brands be considering when goal-setting?
- 29. How are you encouraging clients to engage new subscribers ahead of the holidays? Is there anything they’re doing with email marketing that’s working well?
- 30. How are you helping clients develop an omnichannel strategy?
- 31. What’s the coolest Cyber Weekend experience you received that brands should emulate?
- 32. What’s one thing your clients did last year that made for a successful Cyber Weekend? What’s something you’re suggesting clients do this year that they didn’t do last year?
- 33. As we look to September, what are the three focus areas you’re recommending to clients?
- 34. 4 What to Do Next
- 35. 100 days August 2020 SUN MON TUE WED THU FRI SAT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 September 2020 SUN MON TUE WED THU FRI SAT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 October 2020 SUN MON TUE WED THU FRI SAT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 November 2020 SUN MON TUE WED THU FRI SAT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 August 19 Today: you are here November 2730 Cyber weekend 2020
- 36. What now? 1 Review 2019 performance, and set 2020 goals— taking stock of inventory. 2 Build core marketing segments. 3 Focus on growing your audience and re-engaging contacts. 4 Assess and improve email deliverability. 5 Optimize the website experience—considering expectations by generation. 6 Revisit automations, and start running AB tests.
- 37. Define your SMART goal Align stakeholders needed to hit goal Determine metrics Commit, but be flexible 1 Review 2019 performance, and set 2020 goals— taking stock of inventory
- 38. Define your SMART goal Align stakeholders needed to hit goal Determine metrics Commit, but be flexible Increase sales from customers who’ve previously made a purchase in the last year by 20 percent by December 31, 2019.” 1 Review 2019 performance, and set 2020 goals— taking stock of inventory
- 39. Define your SMART goal Align stakeholders needed to hit goal Determine metrics Commit, but be flexible Meet with product, creative, and marketing teams: ● Discuss goals & state of business ● Brainstorm ideas ● Ensure accountability 1 Review 2019 performance, and set 2020 goals— taking stock of inventory
- 40. Define your SMART goal Align stakeholders needed to hit goal Determine metrics Commit, but be flexible How will you measure your success? ● Number of repeat purchasers ● Average Order Value AOV 1 Review 2019 performance, and set 2020 goals— taking stock of inventory
- 41. Define your SMART goal Align stakeholders needed to hit goal Determine metrics Commit, but be flexible Analyze, learn, pivot, optimize, repeat 1 Review 2019 performance, and set 2020 goals— taking stock of inventory
- 42. 2 Build core marketing segments Four main segments: ● Engaged in last 30, 60, 90, 180 days ● BFCM 2019 purchasers ● VIP (best) customers ● Master list By building these behavior-based segments, you can personalize the content people see across email, mobile, and web.
- 43. 3 Grow your audience and re-engage contacts Build your email list with personalized website signup forms
- 44. 3 Grow your audience and re-engage contacts Focus on customer acquisition now before competition increases ad costs. Who to target: ● Cart & browse abandoners ● Customer winbacks ● Lookalikes of your VIP customers Test Facebook lead gen forms vs sales promos. Using your first-party data will help you increase sales and ROAS.
- 45. 3 Focus on growing your audience and re-engaging contacts Winback series for lapsed customers: ● Let customers know you noticed they left ● Promote new products ● Include an incentive or discount ● Introduce urgency ● Respect their inbox — max of 3 touches ● Personalize, personalize, personalize ● Wow with subject lines Pause your winback efforts a month before so as not to damage your sender reputation
- 46. 4 Assess and improve email deliverability 20% ● Test larger sends ● Send one email to Master List for end of September ● Continue sending to lists with a 25% open rate 1520% ● Test larger sends ● Send one email to Master List for end of September ● Continue sending to lists with a 25% open rate 15% ● Warm your lists (allow 36 weeks) ● Send to last 30 day engagers until 20% ● Send to last 60 day engagers until 20% What’s your average email open rate?
- 47. 5 Optimize website experience Check website health: ● Site speed ● Uptime ● Mobile compatibility
- 48. 5 Optimize website experience Plan optimal experiences: ● Promote a gift guide on your home page ● Enhance product pages with reviews and testimonials ● Clearly communicate shipping delays ● Promote your return policy—not just in footer ● Update your navigation for easy gift browsing ● Optimize your checkout process ● Use personalized pop-up forms to direct traffic and promote offers (and capture contact info)
- 49. 6 Revisit automations, and start running AB tests Revisit the big 5 marketing automations: ● Welcome series ● Browse abandonment ● Cart abandonment ● Post-purchase ● Back-in-stock
- 50. 6 Revisit automations, and start running AB tests What to check: ● Does language still make sense? ● Are promo codes still relevant? ● Is content personalized enough? ● Is revenue per recipient high enough?
- 51. 6 Revisit automations, and start running AB tests Ways to personalize: ● Gender ● Product or product category interest ● Customer lifecycle stage ● Average order value ● VIP status
- 52. 6 Revisit automations, and start running AB tests AB test one thing at a time: ● Subject line ● Preview text ● CTA button size ● CTA button color ● CTA placement ● Image ● Incentive Don’t forget to AB test signup forms too!
- 53. What now? 1 Review 2019 performance, and set 2020 goals— taking stock of inventory. 2 Build core marketing segments. 3 Focus on growing your audience and re-engaging contacts. 4 Assess and improve email deliverability. 5 Optimize the website experience—considering expectations by generation. 6 Revisit automations, and start running AB tests.
- 55. Communicate ListenStore Information / Make Decisions Klaviyo emulates the human communication loopConsumers are favoring brands that do more than just meet a need — they connect on a personal level
- 56. Communicate ListenStore Information / Make Decisions Klaviyo emulates the human communication loop ç Personal connections matter — and memorable experiences build lasting relationships
- 57. ● Pre-built integrations ● CRM ● Activity history ● Segmentation ● Content designer ● Workflows and automations ● Deliverability ● Revenue attribution ● Predictive analytics We built the first marketing platform with customer data baked in
- 58. Use API endpoints from all customer touchpoints to request data. Use Klaviyo’s Event, Custom Property, and Javascript API to pass this information to Klaviyo. With Klaviyo, you can leverage data from all of your channels to build relationships
- 59. Customers made $10.2 billion in revenue last year. Join the movement at klaviyo.com
- 60. Questions?