The most wonderful time of the year is finally here — and, for businesses, the holiday rush is often the most lucrative.
Before, holiday shopping was synonymous with bustling stores, customers fighting over products, and crowds lining up at mall entrances. With COVID-19 reshaping our shopping habits, many consumers now prefer to conveniently purchase items online with just a few clicks.
As we kick off Black Friday and Cyber Monday (BFCM), retailers must gear up for this shopping season and accommodate virtual and in-store consumers.
This article will explain the benefits of navigating the holiday sales season effectively and share tips on how you can be well-equipped for it.
Why Should Retailers Prepare for the Black Friday and Cyber Monday Sales?
Gain a Huge Boost in Sales Revenue
Consumers’ eagerness to shop remains high as the year winds down. With the U.S. News enlisting Cyber Monday and Black Friday as some of the best days to shop in 2023, businesses must capitalize on this opportunity to meet or surpass their sales goals.
Shopping during the sales season has been an ongoing ritual for most Americans. In 2022, the number of consumers who shopped during the holiday season reached a whopping 196.7 million, an estimated 17 million growth from 2021. The same study also observed a 17% and 2% uptick in in-store and online shoppers, respectively.
On top of that, the average spending on holiday-related purchases hit $325.44 in the same year, a $24.17 increase from 2021. And despite the looming inflationary crisis, industry analysts still expect a rise in holiday spending among shoppers.
To get a slice of this holiday pie, businesses must respond accordingly and develop a comprehensive plan.
Establish National and International Brand Awareness
Thanks to e-commerce platforms, Cyber Monday and Black Friday deals are no longer confined within U.S. bounds. Instead, they’ve reached beyond our local markets and catalyzed global purchasing efforts.
Let’s take a look at some of these compelling statistics:
In 2021, tweets about Black Friday and Cyber Monday hit 7 million and over 900 thousand, respectively.
The global e-commerce sales for Cyber Monday increased by 21.5% annually, whereas Black Friday grew 8.4% from last year.
Top 6 BPO Solutions to Boost Your Brand Amid the Black Friday and Cyber Monday Sales Rush
Indeed, this festive season can drive more sales and boost income for retailers. However, the business experience can quickly become chaotic and overwhelming without proper forethought.
So, business owners must always strive to elevate their operational efficiencies, ease shopping spree processes, and enhance customer experience amid this busy season. One of the ways they can do this is by outsourcing some tasks to specialists, specifically in Colombia and the Philippines. By doing so, in-house employees can focus on more valuable projects.
Here are some roles primed for outsourcing during the Black Friday and Cyber Monday deals:
Holiday deals are indeed cost-effective ways to lure new shoppers toward your brand. But without exceptional customer care, you’ll reduce the lifetime value of your newly-acquired customers.
Hence, fostering a meaningful relationship is critical to gaining more loyal customers. Remember: higher sales during this shopping season also mean higher demand for customer service.
As previously mentioned, the BFCM holidays are more than a nationwide event. With the overwhelming prevalence of e-commerce, shoppers from all over the globe can now take advantage of holiday deals and buy from retail brands miles away from their home country.
However, 68% will abandon a brand if customer service reps don’t speak their mother tongue. Offshoring or nearshoring multilingual support can be an exceptional strategy to build brand loyalty and reinforce trust.
Extending your support to non-English patrons means you value them as your customers and want them to feel more comfortable communicating with you. Doing so helps you earn positive word-of-mouth — a free yet effective way of advertising your brand.
Your goal isn’t only to deliver engaging customer service but also to provide greater convenience.
Every shopper has a preferred communication channel to air concerns and ad hoc inquiries. So, brands must be where their customers are at all times. If you can communicate consistently across multiple channels, you’re more likely to enhance customer satisfaction and retention.
So, in addition to having a dedicated customer support team answering phone calls, make sure also to have agents ready to handle:
Live Chat: Clients connect with human customer representatives in real-time through an online chatroom.
Email Support: Customers and a CX representative asynchronously correspond to settle questions, issues, and challenges on their purchased items.
Social Media: Agents communicate with customers through social media, including Facebook, Instagram, and Twitter.
SMS Support: Customer support is offered through text messaging.
Mobile App Support: Shoppers receive aid or guidance in the shopping app or site.
Technical Support and Help Desk
Typically, customer service agents will escalate customer tickets or call up the chain of command if the issues require technical expertise and specialized support.
When buyers encounter difficulties in accessing your e-commerce website
Your newly launched digital products and devices malfunctioning just in time for the holiday rush
Most business owners get deeply embroiled in campaign and sales planning during Black Friday and Cyber Monday, hoping to raise revenues. However, higher sales lead to faster inventory turnover — and running out of stock is a company’s worst nightmare.
With 83% of businesses being forced to adjust their order quantities due to supply chain disruptions, companies must balance cash inflows and inventory outflows.
Fortunately, outsourcing inventory management can help retailers keep stock at optimal levels.
A team of outsourced experts can ensure precise inventory management using robust software, efficient processes, and proactive systems. Furthermore, they can track inventory flow in real-time and alert you when stock is low.
Supply Chain and Logistics Management
The global supply chain issues are still haunting businesses as they’re recovering from the severity of COVID-19. A 2020 research shows that almost three-fourths (75%) of companies experienced disruptions in their supply chain, causing declines in sales, production, and customer confidence.
Unfortunately, with an estimated 2.1 million unfilled manufacturing jobs between 2020 to 2030, supply chain disruptions are set to stay.
But how can your logistics and supply chain tackle these challenges nimbly? One strategy is outsourcing professional supply chain management services.
Here are some services you can offload to keep your entire manufacturing and distribution process running smoothly during the holiday sales season:
Tracking and Tracing Inquiry: Providing real-time visibility and transparency across every level of the supply chain — from storage to delivery
Freight Booking Management: Finalizing decisions on delivering freight to the designated location at a cost-efficient rate
Air WayBill Processing: Processing a written document that accompanies items transported by an international air courier, which records sufficient details about the shipment
Scoring new sales during the BFCM season is excellent, but the work isn’t complete until the order reaches the customer.
A recent study shared that speedy delivery (74%) is one of the top three customer retail demands in 2021, after free shipping (96%) and free returns (79%). So, on top of cultivating outstanding customer service, businesses must develop a coherent and well-structured shipping and fulfillment network to leave a lasting impression.
However, order fulfillment can be tedious, and one wrong move can be costly. So, it’s always best to leave this responsibility to the trusted hands of the experts.
Accounting and Bookkeeping
The sudden inflow of sales traffic and orders during this massive shopping season can overwhelm retailers, especially when handling finances.
To sail through these high-volume sales weeks, businesses require the analytical and meticulous skills of qualified accountants and bookkeepers.
By observing historical data and ongoing trends, these accountants can determine growth opportunities for your brand amid the holiday season. For instance, they can suggest discount rates and limited-time offers that match your profitability goals. With their forecasting knowledge, they can also assist you in estimating future trends and recommending the optimal inventory volumes.
Data Entry and Analysis
Shoppers crave a deeper level of personalization. Over half (59%) of consumers agree that companies should leverage their data to personalize customer experience.
Since BFCM is a major holiday event, businesses must grab this opportunity to garner as much data as possible. Later, an analyst will mine the enormous volume of raw data and extract valuable insights about consumer behaviors, pain points, and preferences. Only then can businesses target their consumers more intimately and directly.
In other words, a data-driven approach can make customers feel special, which can help boost your average order values (AOVs).
Make SuperStaff Your One-Stop Shop for BPO Services
Managing the Black Friday-Cyber Monday sales season can be a tough nut to crack, from the inundating holiday traffic to cutthroat business competition. Nonetheless, retailers must stay on top of things and deliver the jolliest experience for all shoppers.
Fortunately, SuperStaff can be the right outsourcing partner to secure your success.
SuperStaff is a reputable and world-class outsourcing firm that can lend you a helping hand during this peak season. With our future-proof and top-of-the-line strategy, you’ll be ready to conquer the holiday sales rush.
JM brings with him 11 years of solid experience across diverse industries. From his humble beginnings as a customer service representative, JM worked his way up the corporate ladder, taking on crucial roles like Change Management Lead and Ops-Training Project Lead that helped him gain perspective as a leader.