Dispatch № 9 - BFCM
Not just another guide.
Hello and welcome to another free dispatch with me, Jake the Ad Nerd 🤓 (< not me)
As the picture would elude, we’re tapping into BFCM as it relates to eComm and advertising today.
There will be a core theme that I want to drive home for you.
Just to be uber clear on what that is, I’m going to spell it out, right upfront.
It’s been that kind of year, and those who go above and beyond, with or without a sale, are the brands that will win.
Things have changed. Let’s get that obvious point out of the way as well.
I’m sure many of you have seen that BFCM is no longer about this crazy offer, it's about tapping into the convenience for an already owned or somewhat primed audience.
Why is that?
Look at the generation of consumers that have already been primed to understand what this period means. Seriously…
Ads look a little down these last two weeks?
You can point to a million things but the key factor NO ONE talks about is that the traffic right now knows exactly what is coming up.
They know that they can wait and get something different from you. It happens every. Single. Year.
Take a look at TOF metrics and I guarantee you’ll see high-intent with little follow-through. It’s all a part of the process.
With that in mind, a friend and I have some thoughts on BFCM that we’re excited to share. Our goal is to bring you a little something else that stands out from the 9,738,272 BFCM guides this year.
Shall we get going?
I'm recommending a block of 18 minutes to consume everything here. If that means you read this tomorrow morning or this evening before bed, please make sure that it’s on your time.
If you're new, I always provide two disclaimers before we get into everything:
1. There is no one unicorn source (including this one) that will teach you everything you need to know about advertising. If that’s why you’ve decided to be in this community, you’ll soon be disappointed.
2. What works for one advertiser, might not work for you. These are merely observations on what myself and others see is working across platforms, accounts, and verticals. And, our interpretation of ideas. You need to test responsibly, at your own discretion, and ideate individually.
⁉️ What Are We Nerding Out On?
We’re knocking down BFCM, in a streamlined, clear, and concise manner - the best way that I know-how. Bringing on a contributor. One, Mr. Daniel Graham.
Daniel is the Founder & CEO of mint marketing agency, Partner at Spudsy Foods and SuperDuper Labs, he has over 15 years digital marketing experience, starting his journey at MySpace in 2004 (yes, he met Tom) before going on to lead strategy and performance marketing at AOL and Turn working with brands including Adidas, Toyota, RedBull, Unilever & Disney.
Originally from the UK, Daniel moved to the US in 2015 after setting his sights on one day living in LA & running his own agency after his first trip here with MySpace back in 2004 (Failed a few times in the process - never gave up!).
Daniel, can you touch a little more on your background, just for context and to give the reader a little more trust in why I chose to collab with you?
“I’ve seen and been an active part of the evolution of digital and social since 2004, being part of MySpace in its hyper-growth phase; delivering innovative solutions across social advertising and influencer marketing, seeing the explosion of Facebook (signaling an end to my time at MySpace), enhancements in machine learning, data usage/control, programmatic media buying, CTV, DOOH, you name it: working with the biggest brands in the world I was fortunate to be at the forefront of the digital landscape: contrasted with building brands from the ground up, learning all things supply side from co-packers, COGs, shipping, customer service; that marryment of experience, love of digital marketing & building brands, working with smart, passionate people, is why I founded mint.”
🍯 The Good Stuff
I want to push some key learnings before Daniel gets going.
1) Please start loading all of your ads into the FB platform NOW. Please. Have them approved but turned off this week. Please.
2) The brands that focus on the entire journey for a customer this Holiday season will win. I guarantee it.
3) Little things, done right, matter. Please pay attention to all aspects of your ads.
If you need to scale a customer service team this Holiday season, do it now. Do not leave anything on the table - that includes, timely engagement with consumers during sale periods.
The next few sections will be broken down as follows:
A. Top strategies that just work
B. Key things to think about going into BFCM
C. Top creative that slaps on holidays
D. If doing discounts, how much and why?
Daniel, let’s kick this thing off and get into the good stuff.
“Q4 is always a crazy period for online advertisers and this year has a few additional elements (A Pandemic. An Election. FB Instability) to name a few.
To some, BFCM might be seen as a ‘hail mary’ to recoup a less than optimal Q1-Q3 or capitalize on the ‘eCom boom’ - but if you haven't done some groundwork, if your product/brand doesn't solve a problem or add some value, no strategy is going to work magic despite what the Gurus tell you.
Outlined are some key things that have worked for me over the last few years of BFCM + some additional considerations due to the special circumstances we find ourselves in, heading into BFCM, 2020.”
(A) Top strategies that just work
Capture Intent Early
The temptation could be to pull back on spending in the lead up to BFCM as consumers anticipate the pending sales. Resist this temptation! Why? You want as many ‘warm’ could-be customers as possible to convert when you launch your promotion rather than competing in the stacked BFCM marketplace for cold audiences, who have likely got a list of brands they intend to purchase from.
Prioritize spend across upper funnel campaigns in the lead up to the launch of your sale, increasing if possible. I tend not to go for traffic campaigns, leaning more into view content/atc as its proven to convert better than simply traffic campaigns.
Pro Tip: launch lead generation campaigns within FB promoting your upcoming sale to convert through your email and sms promotion campaigns! ‘Early Access’ to your BFCM promotions is a great incentive to add for Lead Gen campaigns, and while you’re at it: do the same with your on-site subscriber pop ups.
(Jake)
Another idea to run, is creating a Facebook Event for your main sale. I think I first heard this from the legend Nic Sharma. But it goes a little something like this…
You drive RSVPs on FB Ads to the event so that when it goes live, that entire audience gets a push notification and of course, RSVPs are incredibly cheap. This same event can be leveraged for any warm audiences as well.
It’s simply ANOTHER way to ensure that your sale is top of mind when the day comes - and it’s unique enough that the consumer feels like you’ve given this period more thought than just running a sale.
You’ve taken the time to cater to them.
Trust me, you will be rewarded for that if it’s your approach this season.
Harness Intent & Consideration > Power the Conversion
“During your sale period the goal is to convert as much of the intent / consideration driven during the build up. Consumers will often have brands / products they are waiting on to purchase from (see point above) - look across your funnel to include each stage of intent & consideration in your retargeting campaigns:
Ad Engagers
New Email Subs
Social Engagers / Post Saves
View Content
Time on Site
Cart Abandonment”
Consolidate & Scale
“The goal during BFCM is to convert! We’re not looking for long term learnings.
Consolidate ‘heavy up’ BFCM campaigns targeting top performing ‘always on’ audiences + specific retargeting audiences as listed in the above example.
This approach allows you to centralize spend, exit the ‘learning phase’ quickly, make swift optimizations to audiences and creatives”
Measure & Analyze Correctly
“So the depreciation of 28 day attribution ‘just kidding’ moment has passed (for now), which is helpful for analyzing the true impact of your holistic BFCM performance if you follow point #1.
The goal of capturing early intent is to then convert during BFCM, so making sure you broaden your attribution window when measuring the impact is going to give you a more holistic view and understanding of how successful those efforts were.“
(B) Key things to think about going into BFCM
“As with everything in 2020, this BFCM is going to be different, but many of the same principles apply as BFCM’s gone.”
Have a goal
“As with everything, establish what success for your BFCM promotion looks like. Is it a revenue target? Is it a certain # of products sold? A specific AOV? The clearing of old stock? This not only allows you to assess success, but informs how you look to structure your BFCM offers.”
CPMs & Competition will be high. Control the Controllable.
“This is an anticipated by-product of Q4 and BFCM; enhanced more so due to the pandemic; with more big box retailers and traditional brick and mortar brands, pushing unspent marketing dollars and sales focus to eCommerce.
This is why capturing intent and having a great, clearly communicated offer is key; more control over who you are targeting with your BFCM ad spend and an offer that’s clearly communicated and answers the price / value question mark for on the fence consumers.”
Don’t only focus on new customer acquisition, increase LTV of existing customers.
“Sales and Promotions are a great way to convert on the fence would-be customers as it removes one of the key considerations around price / value. They are also a great way to ‘give back’ to existing customers. Your message will need to be contextually relevant to those customers: consider a specific promotion / BFCM experience for existing customers based on their prior interactions with your brand.
Have a subscription option? Test a specific BFCM promotion to customers who have purchased ⅔ times yet not subscribed, giving a ‘limited time only’ extra $ discount or added value on signing up to your subscription service.”
(Jake)
98% of your sales during this period will come from already warm audiences looking for the convenience factor. Ie. They were already going to buy, you’re just giving them a clearer path to be with your brand with a solid offer.
It’s less about the hottest deals on x-products and more about a primed buying period for those that were already considering purchasing.
You don’t HAVE to simply discount.
“Most BFCM promotions will be a % discount sitewide or on specific items. It works. But you don’t HAVE to follow this model, in fact you could have multiple offers in market if you can support this from a creative and landing page experience standpoint.
Tiered Bundles (increasing in AOV) with specific discounts or added value, BOGOF, Holiday/Gifting promotions are all ways of driving heightened sales/conversions, without a blanket % discount across your entire store.”
(Jake)
Key learning over this year running hundreds of sales is that EVERYTHING should reduce friction.
If you’re doing a sitewide discount, then that discount needs to auto-apply to the cart.
Reduce the friction the entire way.
Asking a customer to enter a coupon code during a sale is a thing of the past in my opinion. There are easy, easy tools to help assist in this and it SHOULD be done.
If I add something to the cart during the sale, I’ll have more confidence in that sale if I clearly see that discount is applied for me. It nudges me confidently forward.
A little more on that, ENSURE that all of your payment options are setup. If you have something that’s a one-time discount, move them straight to checkout and avoid the ATC.
Show them that Shop Pay is there (or apple, etc) and that you’ve not only taken the time to discount for them but you’ve set up a streamlined process on checkout.
Don’t leave $ on the table.
“It’s never just about one channel or one strategy - BFCM is no different. Optimize your entire consumer journey so you’re not leaving $$$ on the table, here’s a simple checklist:
Facebook / Google Ads for early intent, lead gen, RTG to convert
Landing Page Optimization: clear offer, frictionless checkout process
Email & SMS campaigns & Automations, customized for the BFCM period
Customer Service needs to be on point: clearly communicate shipping / returns expectations
Check your consumer experience, ensure your email automations are reflective of the promotional period, send customized post purchase thank yous.”
(C) Top creative that slaps on holidays
“More than ever, your creative has to SLAP. It needs that elusive 100% ‘thumb stop ratio’ (I do not own the rights to this phrase). Keep it simple. Test multiple Formats. Keep it slappy.
A BIG missed opportunity I see brands make is doing nothing pre/post sale, and just launching a single ad with a flat discount. More than ever, with the amount of increased competition, you need to make people aware of the upcoming sale, stand out from the competition, give them a reason to buy from you and not your competition.
Each phase will require specific creative with specific messaging to maximize each phase.
When you land on your actual BFCM offers, test multiple variations of communicating the offers > if one offer/angle does not convert me, it's less likely the same creative will convert me later in such a short period of time.”
Things to consider:
Pre Sale, Sale, Extended Sale, Alternative Offer, Post Sale, Holiday phases
Have specific & multiple creatives and messaging ready for each phases
Make your messaging contextual to each audience. Blanket approach is lazy.
What were your top performing assets this year: use to inform your BFCM creative
Formats to test:
Dynamic Ad + Price
UGC Review/Social Proof
Short Form Video (key value props in the first 5 secs)
Statics with Text Overlay
A quick example below:
Why it’s good:
The visual captures attention - it’s simple & also showcases the product in an engaging way.
The discount is clear & simple. 20-30% off sitewide. Go!
‘Our Biggest Sale of the Year’ - it creates excitement for could-be customers, it implies you KNOW you're getting a deal when you shop now.
It’s the biggest sale of the year!”
(Jake)
Another thing to add here is that ALL previous advertising for the year should be evaluated.
Can you devote some time to look at what slapped organically during the year?
If so, pull the top images from Instagram, the top ad copy, and the top headlines… Run that again but on a sale basis.
Lead with what works.
(D) If doing discounts, how much and why?
“As mentioned above you don’t HAVE to discount. And maybe you shouldn't if you have poor margins and are still ramping up your brand/product. Some brands believe discounting is’nt ‘on brand’ - they don't want to get customers hooked on purchasing discounted products else they will never buy when at full price: that’s a bigger conversation but there are ways around it: think VALUE over DISCOUNTS.
If you do decide to discount - be guided by your goals, your target AOV, your LTV, your Margins and your avg CPAs/ROAS presale.
Some considerations:
If the goal is to clear dead stock, you could be more aggressive with your discount.
If the goal is to drive new customer acquisition on ‘live’ stock, you’ll not want to eat into your margins, unless your product allows for repeat purchasers and a quick buy back period.
does the offer, discount, creative make sense for the target audience and how should that differ for existing repeat purchasers vs converting new customers?
does your offer really remove the barrier to entry for purchase?
do you have a built up audience to message too via email lists, rtg audiences?”
(Jake)
Not everyone needs to run discounts. What did he just say…?! Exactly to Daniel’s point.
Stick with me here...
I know several brands that have built what they’ve built without them. And that’s great! I’m all for it. But, even if you don’t run discounts, I’m telling you that it’s a period to capitalize on.
Everyone is in a buying mental state, do not sleep on that.
Even without a discount, you can tap into the time period through things like early gifting packages for friends or family, etc., unique bundles just for your customers, gift cards for your community, etc.
If you’re not doing discounts, you should find a way to reward an existing base this season.
It’s been that kind of year, and those who go above and beyond, with or without a sale, are the brands that will win.
Think more. Do more. Don’t just run a sale. Run an experience for everyone.
🏁 In Closing
Daniel, any closing words for our readers?
“Hope there was something you hadn't considered, appreciate the opportunity to contribute! Wishing you all massive success, 10XROAS and happiness in Q4!”
Thanks again for your time Daniel, you are truly a legend, and very thankful to be connected with you.
If you have a moment, please connect with Daniel on Twitter, he’s one of the most humble human beings out there.
@foodog85 - At 400 or so followers, he is the clearest example that your follower count does not represent your expertise. His username also trends with Myspace standards of 2005 (I had to).
A final closing note that I wanted to make, is that the majority of accounts I see are not a slight bit interested in telling a story.
I fear it will be a major downfall for most this BFCM.
Especially if it’s not set up correctly right now.
The majority of advertisers, and even brand owners in the DTC space, have all gone full-throttle on this mentality of “how can I get a sale NOW?!”
Not, “how can I move a consumer through and experience and get a sale throughout.”
Think about this… The majority of the ad community tends to shit on brands getting a 2x return on TOF cold audiences for brands with 60% margins…
The fact that you're pulling a positive return, getting a first time purchase, and potentially a lifelong customer, from a static image (or carousel or whatever) is pretty fucking amazing.
Just do a better job of setting expectations for your account and yourself.
Stop falling into the trap of quick fixes and get back to the promised land of being a full-funnel advertiser. That's what Facebook is made for. That’s a BFCM strat I can stand behind.
Go back to old school advertising that works. And really think about how everything is structured. Ie. How can I move someone down the funnel and still maintain a ROAS throughout? Ask yourself that.
Outside of BFCM, I want you to think about this (and then shorten the timeline during sales).
If I’m just doing a 30d retarget with the same ads, is that enough? Or can I break that down to 7, 12, 21, 30day and tell a story the whole way. Can 12day be an instant experience? Can 21d be my top-performing testimonial with a collection?
With that, I challenge you all to do more this BFCM. Do better.
Respect the field of marketing and advertising.
Respect the consumer and the journey. Especially this Holiday season.
With gratitude.
Your next dispatch will be delivered on the first Monday of December.
We’ll be recapping Black Friday and looking forward to the new year. The main theme for the next dispatch will be focusing on going back to our roots as Facebook advertisers.
Potentially… well, no… it will 100% be a slap in the face for most. Why? Because I feel no one is talking about it and if there’s one thing that this newsletter is all about… It’s about calling out BS, learning together, and course-correcting as a community.
As always, I’ll be in touch if anything comes up in the ad world.
I’m truly hoping that this BFCM season is one of great success for all of you.
Truly. We all deserve it.
Until next time.
Cheers,
Jake the Ad Nerd 🤙
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PS. Let’s touch on mental health just for a second as we end this. A few friends shared some words with me recently that I think reign true this season.
Talking with Mr. Chrisian Lovrecich on some recent wins of his and how he achieved them, he said something along the lines of,
“Trust your knowledge and experience you have gained over the years and don't let outside factors affect your decision making when it comes to your overall strategy.”
If you already have a strategy - stop reading guides (yes, even this one) and stick to YOUR plan.
Chatting with Mr. Jeromy Sonne on the last few months, he mentioned,
“Remembering you're a human being and starting by taking care of yourself first for both you and the brands you work with. A 30-minute run and 10 minutes of meditation can often have a better ROI than many hours of low impact or aimless work. Trust the process, trust your skills, and remember it's a marathon not a dead sprint.”
Take care of yourself, your accounts, and the brands you service this season.
Step away when you need to, audit where your time is spent, and give it all you’ve got.
I know you’ve got this.