- Click Frenzy - The 2022 Main Event starts Tuesday, 8 November, and ends on Thursday, 10 November. It attracts millions of customers each year.
- This bonanza event offers a massive opportunity for retailers to reach new audiences, increase traffic and sales — and boost brand awareness.
- Long-term gains from Click Frenzy are often overlooked, but with clever planning, retailers can look forward to valuable rewards.
Ready to get involved in Australia’s largest online sales event? This year’s bumper sales event is predicted to be a massive earner for retailers. But statistics show many brands let critical opportunities for ongoing profits fall through the cracks.
Most retailers are too busy focusing on immediate KPIs to see the actual benefits these bonanza sales can bring (and there are many holiday and retail sales dates ). But the good news is that these lucrative opportunities are in reach for most retailers, provided you do the work.
The retail landscape — and customer expectations — have changed, and so must your mindset.
To make this year’s November Main Event a supremo success, retailers should focus on five crucial areas:
- Supply chain, fulfilment and logistics
- Website optimisation
- Creating lifelong customer value
- Avoiding costly returns
- Data-led insights
So, roll up your sleeves, and let’s plan and prepare for Click Frenzy - November 2022 in a way that would make any Boy Scout proud.
To get maximum sale profits and give your shoppers memorable customer experience, you need outstanding point of sale software. Get a free, customised demo with an Australian-based retail expert today to find out how Retail Express POS software can help your retail business.
1. Supply chain, fulfilment and logistics{Supply chain and logistics}
We all know how bad the current supply chain and logistic problems are for Aussie and Kiwi retailers. They can drastically damage profits and also cause irreparable harm to brand reputation. These delays frustrate shoppers and turn them off your brand for life, ruining the customer experience (a huge no-no for retailers right now).
Here’s what you can do to combat potential disaster:
PLANNING:
- Forecast your inventory requirements – and significantly ‘bulk up’ well ahead of time.
- Be realistic with your stock ETAs – and factor in a decent margin for error
- Plan backup options with alternate freight companies – hunt around and negotiate for the best deals, then sign your contract in advance. That way, the courier company will be immediately available for backup.
- Think about sharing container costs with other retailers – to keep costs down.
- Consider door-to-door freight options for delivery – when you’re inundated with orders, not having to race to the post office can be the sweetest lifesaver.
FULFILMENT PREPARATION:
- Prepack popular goods – packing can be overwhelming, especially for smaller retailers. Do what you can in advance, so you can fly those parcels out the door just as fast as you watch the orders pile in.
- Order ample post satchels, boxes and tape – you can always use them later.
- Create a fulfilment system with your staff – so everyone is prepared and knows their job.
- Switch to advanced inventory management software – so you can get goods to customers quickly and more affordably by using decentralised fulfilment (meaning: shipping goods from the nearest store)
2. Website optimisation{Website optimisation}
SITE SPEED: How fast is your site speed? Online shoppers want lightning-fast websites. Keep in mind that there’s more margin for forgiveness with non-commercial websites, but a slow-loading eCommerce site is a conversion killer.
So what’s a fast-loading eCommerce website? The highest eCommerce conversion rates occur with page load times between zero to two seconds, according to website optimisation software company Crazy Egg. (Check them out — they have some staggering statistics regarding this issue.)
Contact your developer and make site speed a priority. See this excellent article by Portent for valuable info.
HOSTING CAPABILITIES: Contact your hosting provider and check that your website can handle the extra traffic.
LANDING PAGES: Audit them with the following criteria:
- Does your landing page answer the user’s intent? Think carefully. Is each landing page relevant to the reader who lands on the page from an ad, email or anywhere else? This pointer cannot be overstated.
- Links: Check that all links work. Broken links are a ridiculously common (yet avoidable) problem — and they ruin the customer’s trust in you.
- Ease: Have you made it simple for shoppers to make a purchase? Minimise the clicks from landing page to purchase.
- Punctuation and grammar: Check your copy, spelling and graphics. Thoroughly. Getting it right inspires trust and credibility.
- Vital info: Is there anything the reader might want to know that you’ve left out?
COUNTDOWN TIMERS: Consider creating excitement by adding a countdown timer to your website.
COMMUNICATIONS: Communicate in every way you can to remove any barriers to customers purchasing by implementing the following:
- Make it easy for customers to contact you. If it’s viable for you, add a customer support phone number, so shoppers can have any questions answered.
- Consider implementing a chatbot or live chat line to inform shoppers of everything they need to know to get them over the line.
SHIPPING/RETURNS POLICIES
Check your website's shipping and returns page and clearly state your turnaround times, shipping times, returns policies and any other costs they may incur. Be honest and realistic — customers respond well to transparency. They’re more likely to forgive if kept in the loop.
3. Customer data capturing for improved CLV{Customer data capturing for improved CLV}
Lifelong customer value (aka customer lifetime value or CLV) is the anticipated total amount of money that a customer will spend purchasing products from your retail business over their lifetime.
Every retailer must determine the unique CLV of their customers (or, better, customer segments). You cannot rely on other retailers’ data as every retail business is different due to the various industries and customer bases.
But the consensus is clear: repeat customers are worth more than new customers, as new customers are far more expensive to acquire.
Why does this matter at sales time?
In the US, 64% of retailers say the customers gained over the Black Friday weekend have a lower lifetime value than customers acquired at any other time of the year, according to Shopify. Retailers often excitedly focus their KPIs on total revenue, missing the critical opportunity to nurture loyal and lifelong customers.
TIPS:
- Use marketing and loyalty software that captures all sales and customer data
- Market to these customers, allowing them to opt in to newsletters and information they prefer
- Encourage your Click Frenzy customers to join your loyalty program. These programs are the most effective way to increase revenue and retain customers. Better still, customers like them — a lot.
- Offer your new-sale clients a special VIP offer to keep them coming back for more. Later, use your loyalty software to promote ‘members only’ or upsell/cross-sell specials to increase basket size.
4. Avoiding costly returns{Avoiding costly returns}
In the UK, one in three shoppers returns what they buy on Black Friday, according to IMRG.
This painful reversal of cash flow caused by returns immediately after sale time can financially devastate a business and cause massive administrative headaches. Even worse, if handled poorly, they can disappoint the customer and permanently turn them off your brand. With this in mind, retailers must do everything possible to:
A: Avoid returns (to minimise the admin, labour time and overall expense)
B: Be prepared for the inevitability of some returns and ensure an excellent customer experience to win over these customers for future sales.
But wait – what about the cost? And who should foot the bill?
Most of today’s consumers expect free returns. (We know, it’s tough.) Research from Emarsys indicated that 45% of consumers say that not having a free returns policy was enough to turn off a Black Friday purchase. And this issue was a more significant deterrent than any other factor.
So, how can a humble retailer charm the credit cards off their customers by offering a delightful ‘free returns’ experience without slowly crucifying themselves?
The answer: Do everything you can to avoid returns.
“Minimise the risk of returns by maximising the customer’s awareness of the product.”
According to the delivery service Transdirect, you can minimise the risk of returns by maximising the customer’s awareness of the product. For example:
- Write comprehensive product descriptions
- Implement omnichannel POS software to centralise all data and offer live stock visibility levels (making more stock available and increasing the chance of a sale)
- Detail exact sizing information
- Use high-quality, zoomable images
- Offer live chat or chatbots, so customers are fully informed about the product
- Package goods carefully to avoid damage or breakage, again warranting more returns
- Be accurate and realistic regarding delivery times (to avoid late delivery return)
If returns are required, do not tick the customer off. Make this an opportunity to offer a thrilling customer experience so the customer wants to return for more.
You can improve the customer experience by:
- Using excellent omnichannel POS software allows customers to return the goods to any channel, either in person at any store or by post.
- Providing after-sales support (e.g. have a clear returns policy online, offer chatbots or phone support)
- Make the most of your customer data, and preferably AI technology, to only market your event to those interested in your products. And, for those on your eCommerce store, it can suggest products that would appeal to them based on previous preferences.
5. Using data to gain valuable business insights{Using data to gain valuable business insights}
After the event, use smart retail reporting software to capture data that delivers valuable insights into your customers and products. You’ll discover your most popular products and determine why certain products were sold at sale time and not before. Are the items overpriced for most of your customers? It’s a great opportunity to assess your stock and trim the fat of any redundant items.
Also, when analysing your Click Frenzy 2022 sales data, remember to factor in returns. Agree, it’s such a wet blanket, but we must be realistic.
Next steps-
Focus on the 5 areas we have highlighted, and the Click Frenzy November event can be the gift that keeps on giving. But planning can only go so far without the right POS software. Retail Express point of sale software can help optimise and automate your business at sale time in the following ways:
- Improved visibility of supply chain and logistics
- Offer a variety of fulfilment options such as Click & Collect
- Provide advanced customer analytics to personalise marketing activities that will improve customer lifetime value
- Provide actionable reports of valuable business insights to make informed, data-led decisions
