This is the time of year when many system integrators and platform vendors get to flex their digital muscles and make humble-brags like "Yeah, our platform managed (an enormous number) in traffic and helped raise the conversion rate by this and that." By January, retailers hope to draw a sigh of relief that they made their numbers.
The truth is that this season is more and more about the coming year than making numbers for the current year. In fact, the holiday season is a chance to heavily increase the number of e-commerce customers in your database - and build loyalty for a solid revenue stream in 2022.
How to Optimize Your E-Commerce Business for Black Friday
By the time you read this it will be too late to add new, cool features or implement new payment and delivery options for the upcoming Black Friday and holiday e-commerce season. What you can do is – fix the basics. It might not be what is on top of your e-commerce roadmap, but it can make a significant impact on your holiday sales performance.
In fact, it can be the difference between red and black numbers for your business long term. We expect another uptick this year in online sales as the pandemic continues.
So, what do we mean by the basics? It’s all about three things:
- Site performance
- Customer experience
- Business processes
We’ll use a real-life example below to illustrate how important these three basic e-commerce tactics are and why getting this right is critical to your long-term commerce success.
How to Prep Your E-Commerce Business for the Holidays
A high-end fashion retailer that we work with experienced some amazing e-commerce sales results during the Black Friday week of last year:
- 7 million visits in one day
- 4 orders per second
- 90K new customers acquired during the Black Friday week
- $25 million sales revenue generated during the Black Friday week
Let’s play with those numbers. What would happen to this e-tailer if their online store was unavailable for just one minute? The math says they would lose around 1200 visits and 325 orders. With an average order value of $30, that means nearly $10K in lost sales per minute.