The Cyber Five (Thanksgiving - Cyber Monday) this year broke all kinds of records and was an interesting departure from years past in several ways. In this episode I welcome back to the podcast my business partner, Chris Brewer. We look at this holiday shopping season from a few different perspectives. We talk in general terms about how our clients who are mostly in the $5 to $50 Million per year in sales did during the Cyber 5 and after. We also looked at trends and data from the largest ecomm companies.
By the numbers….a Look at the Industry as a Whole.
Here are just a few of the highlights we look at in this episode.
- Thanksgiving weekend was up 23% - total spend was $24.2 billion. Thanksgiving through Cyber Monday.
- Mobile spend was $10 billion of that (approaching half) and that’s up 44% from last year. So doubling the growth rate of the holiday trend as a whole.
- Main Drivers of online sales
- Email at 26% - up 2% YoY
- Paid Search at 22% - up 6% YoY
- Social - minimal impact 1.3% of sales….(remember this stat is from the big guys, not mid-sized companies).
Surprises from our clients:
- Black Friday was our clients biggest day by a long shot with Cyber Monday finishing 2nd.
- Social continues to be a big investment for our clients but getting the same results as last year has been difficult mainly due to rising ad costs.
- YouTube big as well - one of the top 3 channels for several of our clients.
We talk about what our most successful clients did well so you can properly plan for next year. We look at several winning tactics including:
- Email - build, cultivate and prime your email list for Cyber 5. Multiple email reminders - often 3 per day.
- Start early - Wednesday even. We found our most successful clients started sales or at least started promoting sales early. Consumers have finite dollars to spend, get their attention early and you’ll have a better chance to grab your share of wallet.
- Build your retargeting audiences early - our clients who had the most success had large lists of people who’ve visited their site in the past or viewed a YouTube video who we could then retarget.