Are you ready to make this year’s Black Friday and Cyber Monday (BFCM) campaigns your best ones so far? The BFCM weekend is the ideal time for businesses to increase their sales and reinforce their brands. However, to make that happen, you’ll want a strong strategy that not only highlights your products but also keeps your audience engaged. It’s worth noting that in November 2022, the average store spent almost twice as much on Facebook ($2.72K) compared to Google ($1.59K), making Facebook the primary focus of this blog post. Without further ado, let’s jump into the best BFCM Facebook ads strategies for 2023!
As you gear up for this year’s Black Friday and Cyber Monday campaigns, it’s crucial to consider a significant factor. During the BFCM period, advertising competition escalated, resulting in a 10%-20% surge in the CPM across the market. This means that running ads on Facebook becomes more expensive in BFCM week.
To tackle this challenge, consider setting aside a slightly larger budget to account for the expected increase in CPM. However, the real game-changer is the timing of your campaigns. By initiating your BFCM promotions a bit earlier, rather than exclusively during the bustling BFCM week, you gain a distinct advantage. Starting early allows you to secure prime ad placements, expand your reach, and harness the full potential of this lucrative season. Early planning is your key to not only cost-effective advertising but also staying ahead of the competition and reaching your target audience before they’re bombarded with BFCM promotions.
Choosing the Right Facebook Ads for BFCM Success
When it comes to BFCM sales, your choice of Facebook ad format can make a significant difference. To understand this, we examined more than 1,000 successful ads from over 100 e-commerce stores. We selected these ads based on specific criteria:
- they spent more than $500 in November 2022,
- had a return on ad spend (ROAS) greater than 100%,
- and targeted a US-based audience.
What we found was that there are different types of Facebook ads, including dynamic ads, carousel ads, single image ads, and video ads. Among these, dynamic ads were the most common, which is not surprising given their widespread usage.
However, the performance of these ad types varies. For instance, carousel ads had the highest CTR but the lowest CR. They were also the most cost-effective with the lowest CPM. When it came to ROAS, there was no significant difference between carousel, dynamic, and video ads.
What stood out in our analysis was that single image ads were notably less profitable. This highlights the importance of diversifying your ad formats to maximize success during BFCM.
Create Creative for BFCM Facebook Ads
Creating attention-grabbing Facebook ads for BFCM is a critical part of your holiday marketing strategy. These ads have the power to influence and boost your sales significantly. So, let’s dive into the top strategies you should incorporate into your BFCM Facebook ads
Strategy 1: Offer Free Shipping
“Enjoy Free Shipping on All BFCM Orders! Don’t Miss Out.”
- Offering free shipping during BFCM can significantly boost sales. It removes a common barrier for online shoppers and makes your offers more appealing. Customers often prioritize free shipping when making purchasing decisions, and during the holiday season, this offer can set your brand apart from competitors.
Strategy 2: Limited-Time Discounts
“Get 50% Off This [Product] for 48 Hours Only! Act Now!”
- Creating a sense of urgency is a proven way to drive sales. Limited-time discounts for BFCM encourage customers to make quick decisions and take advantage of your offers. It taps into the fear of missing out (FOMO), motivating customers to complete their purchases promptly.
Strategy 3: Bundle Discounts
“Buy [Product A] and [Product B] Together and Save 30%!”
- Bundle discounts encourage customers to purchase more by offering savings on multiple items. It increases the average order value and provides added value to customers. Shoppers often see bundle deals as a cost-effective way to get multiple products they need.
Strategy 4: Early Access for Subscribers
“Subscribers Get First Dibs on BFCM Deals! Subscribe Now!”
- Rewarding your email subscribers with early access to BFCM deals not only enhances their loyalty but also generates a sense of exclusivity. Early access builds anticipation and encourages subscribers to shop with your brand during BFCM.
Strategy 5: Customer Testimonials
“See Why Our Customers Love BFCM! ⭐️ ‘Best Deals Ever!'” – [Customer Name]
- Including real customer testimonials in your ads builds trust and social proof. When potential customers see positive experiences from others, they are more likely to trust your brand and make a purchase. Testimonials add credibility to your BFCM offers.
These top 5 strategies and elements are effective for BFCM Facebook ads because they address common consumer preferences and behaviors. By offering free shipping, creating urgency with limited-time discounts, providing bundle deals, rewarding subscribers with early access, and showcasing customer testimonials, you can maximize your sales during this crucial holiday shopping period.
BFCM Facebook Ads Budget Strategy
As the most anticipated shopping weekend of the year approaches, e-commerce businesses are gearing up for Black Friday and Cyber Monday (BFCM). Your Facebook ad campaigns are poised to be the driving force behind a successful BFCM, but the critical question remains: How much should you spend to achieve your goals effectively?
The budget you set plays an important role in the success of your Black Friday and Cyber Monday campaigns. It’s not just about allocating a fixed amount; it’s about aligning your budget with your goals, past performance, and the dynamics of your industry. Careful consideration of factors like customer acquisition cost and expected ROI is essential.
One critical aspect often overlooked is budget allocation beyond the BFCM weekend. While the holiday weekend is a peak period for advertising, it’s worth noting that in January, the competitive landscape eases, and CPM Cost Per Mille tends to be lower. It’s a strategic move to reserve a portion of your budget to leverage this opportunity in the post-BFCM period. By doing so, you can maintain visibility and continue reaping the rewards of your ad spend into the new year. The perfect BFCM Facebook ad budget strategy isn’t just about the present; it’s about setting the stage for sustained success.
BFCM Facebook Competitors’ Strategy
Now, let’s talk about your competitors. Competitors can be a goldmine of insights when you analyze their BFCM ads. By diving into what they did in previous years, such as through Lebesgue: Marketing and LTV, you can uncover valuable lessons that can boost your campaigns. Here’s why this is such a valuable strategy:
Competitive Insights: Your competitors’ BFCM ads act as a crystal ball for your industry. They reveal what’s currently effective, spotlighting trends, strategies, and messaging that resonate with your shared target audience.
Ad Copy and Creatives: The content and design choices your competitors employ are a wellspring of inspiration. By observing what resonates with your audience, you can gain innovative ideas to refine your own messaging and design.
Learning from Mistakes: Competitor ad analysis isn’t just about copying successful strategies. It’s also about learning from their missteps. If you spot elements or strategies that aren’t well-received, you can steer clear of those pitfalls in your own campaigns.
And that’s it. Here you have BFCM Facebook strategies for your e-commerce business. For those seeking deeper knowledge and data-backed strategies, our free eBook offers a treasure trove of insights. Armed with these valuable resources, you’re poised to make this BFCM season your most successful yet. Don’t wait – start implementing these strategies, and let your BFCM campaigns shine brighter than ever before.
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