Black Friday 2020: Your Biggest Sales Day Yet

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Maximize ROI for Black Friday & Cyber Monday By Patrick Rauland @BFTrick - @Nexcess

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1 - Do you run your own store? 2 - Or build stores for others?

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● Built custom PHP websites ● Built WordPress, BigCommerce, & WooCommerce sites ● Developer & Product Manager for WooCommerce ● Product Marketing Manager at Nexcess ● Run my own store Laidback.Games where I sell a game called Fry Thief About Me

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Agenda 1. How important is Black Friday? 2. Maximizing Revenue 3. Keep Your Site Online

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How Important is Black Friday?

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$7.4 Billion Spent on online sales on Black Friday 2019 https://techcrunch.com/2019/11/30/black-friday-sees-record-7-4b-in-online-sales-2-9b-spent-using-smartphones/

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$168 AOV (Average Order Value) https://techcrunch.com/2019/11/30/black-friday-sees-record-7-4b-in-online-sales-2-9b-spent-using-smartphones/

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189.6 million People visited (brick-and-mortar) stores over Black Friday weekend 2019 https://www.thebalance.com/what-is-black-friday-3305710

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What’s Different in 2020? ● - Decline in (brick-and-mortar) retail ● ‍♂ - Gen-Z (<25) has more purchasing power ● - COVID-19 ● - US Presidential election ● - Ads are (currently) cheap

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How can eCommerce stores capture their fair share?

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Why Talk About Black Friday Now?

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Maximizing Revenue

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Who Knows their Average Order Value (AOV)?

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Upsell The Cart Magento Recommend a module

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Promote Pricing / Shipping Breaks

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Does anyone know what this indicator is for? 67.91%

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67.91% ^ The average cart abandonment rate https://99firms.com/blog/shopping-cart-abandonment-stats/

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Do’s & Dont’s to Prevent Abandoned Carts DON’T ● DON’T require users to create an account ● DON’T have only one payment gateway ● DON’T load longer than 3 seconds DO ● DO use reputable payment gateways & show trust signals ● DO have a clear & generous return / shipping policy

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34% of shoppers have abandoned online carts because they were required to create an account to complete the checkout DON’T require users to create an account

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10% of shoppers to abandon their carts due to lack of payment methods or a declined credit card DON’T have only one payment gateway

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57% of online consumers will abandon a website if they experience more than 3 seconds of load time DON’T load longer than 3 seconds

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17% of online shoppers have abandoned an order during checkout due to security concerns DO use reputable payment gateways & show trust signals

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27% of online shoppers have abandoned their carts due to slow delivery or poor returns policies DO have a clear & generous return / shipping policy

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You can greatly increase your revenue just by optimizing your site

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28.3% Of all ecommerce revenue comes from successful abandoned cart emails. https://99firms.com/blog/shopping-cart-abandonment-stats/

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60% of lost sales can be recovered by sending an email within 24 hours https://www.digitalcommerce360.com/2014/12/02/personalized-shopping-cart-abandonment-e-mails-lead-sales/

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https://jilt.com/

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5-25X “It costs anywhere from 5 to 25 times more to acquire a new customer than to retain an existing one.” https://blog.hubspot.com/service/customer-acquisition-study

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Add a Loyalty Program

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Keep Your Store Online

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https://www.thestreet.com/technology/costco-thanksgiving-day-website-crash-cost-it-nearly-11million-15185344

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7% A 1 second slow down reduces conversions 7% https://www.crazyegg.com/blog/speed-up-your-website/

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How Many of You Know Your Website Speed?

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GTMetrix.com

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My site back in February

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Site after replatforming to NX & optimizing my site

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On Black Friday Speed Isn’t About One Person. It’s About Throughput.

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https://twitter.com/BFTrick/status/1271472713912078336

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https://explore.nexcess.net/15-day-challenge/

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Questions?? ● Where are the slides? ● What’s the best built-in feature in WooCommerce? ● How did you make Fry Thief? ● How are you so handsome?