Tuesday, August 20, 2013

8 Facts Every Marketer Needs to Know about Cyber Monday

The holiday shopping season used to be broken into two parts: Black Friday and every day after that.
But now the Monday after Thanksgiving is a force, driving a huge amount of ecommerce over the web and mobile. Digital marketers must prep well in advance for this massive ecommerce and online sales holiday.
For any marketer planning their Cyber Monday strategy, here are eight essential facts to keep in mind.
It’s getting bigger every year.
Last year was the biggest Cyber Monday yet, hitting $1.7 billion in online spending. That’s a 17% year-over-year increase. And that doesn’t even count mobile spend. Clearly, Cyber Monday has arrived.

Shoppers are way more mobile.
It’s not just about desktops. Mobile browsing and sales are on the rise. According to IBM’s Cyber Monday report, more than 18% of consumers used mobile devices to visit retailer sites. Mobile sales reached 13%, which is a 96% increase over the year before.

Wondering which device draws the most traffic? It’s the iPad at 7%.
Cyber Mon Mobile
And they’re way more social.
Since it’s an online holiday, it’s natural that people share their experiences and hunt for deals through social media. Last year, Cyber Monday accounted for 1.4% of social media chatter that day. On Facebook, referral traffic for top retailers spiked 240% compared to other average Mondays. And conversion rates for Twitter and Pinterest continued their steady rise.

Social conversations and engagement are clearly part of the Cyber Monday experience.
Online shoppers spend more online.
Perhaps Black Friday shoppers are too full from Thanksgiving dinner, but the amount of dollars spent online per consumer is actually higher on Cyber Monday.

The average amount spent online per person over Thanksgiving weekend was $172.42. Not too shabby. But the average online shopper spent $194.46 on Monday, nearly 13% higher. If your goal is online commerce, this is your day.
Shopping Online on Cyber Monday
Shoppers really want a deal.
There’s one big reason so many shoppers hit the web on Cyber Monday: deals.

The top reason shoppers shopped that day was to compare prices and deals. And believe it or not, shoppers bought more while spending less last year. The average number of items per order on Cyber Monday was 8.3. compared to Black Friday, which was 5.6, according to IBM. But shoppers were savvy, using multiple screens and hunting around for the best deals.
If you want to get the attention of the Cyber Monday shopper, you need to get unique offers, promos and discounts in front of them.
Amy Boyle Photography Cyber Monday Exclusive
It’s a great day to reach men.
If you think shopping holidays are geared towards women, you’re wrong. According to BIGinsight, men (43%) actually claim to shop online during Cyber Monday more than women (39%).

There are real opportunities to reach consumers with male-oriented products and specials during the Monday shopping spree.
Late morning is the time to strike.
You’re out to attract Cyber Monday shoppers with a special offer or campaign. When’s the best time to strike?

Based on data collected by IBM, online sales peaked at 11:25 AM EST. The good news is that those peak times didn’t lead to deep valleys. Momentum remained strong after shoppers’ evening commutes.
Apparel, books, video games, DVDs and electronics are hot.
Cyber Monday is a revenue opportunity for any business with an online presence. But if you sell books, video games, electronics or apparel, you can’t afford to sit on the sidelines.

The top categories for Cyber Monday purchases include apparel (31%), books/DVDs/video games (28%) and consumer electronics (25%). If you sell into these categories, you need to market aggressively during Cyber Monday.
Cyber Monday Gift Chart