BFCM Data Chest Unlocked
🚀BFCM 2023 Insights: Data-Backed Strategies for 2024 Success
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In this newsletter, you’ll find:
📊 BFCM 2023 Insights: Data-Backed Strategies for 2024 Success
📊 Q3 Performance Insights: Snapchat & Reddit
💪 Capturing Decision Makers on CTV: A New Frontier for B2B Marketers
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BFCM
📊 BFCM 2023 Insights: Data-Backed Strategies for 2024 Success
Insights from Jake Abrams
Preparing for Black Friday and Cyber Monday (BFCM) is critical for DTC brands looking to maximize sales and engagement. Analyzing data from nine brands in 2023, Jake has delved into three key metrics: optimal sale duration, ad spend increases, and ROAS performance. Here’s how these findings can shape a strategic and high-impact BFCM in 2024.
🗓️ Length of the BFCM Promo Period
Insight: The average promotional period was longer than you might expect.
Benchmarks:
Median Duration: 23 days
Longest Campaign: 61 days
Shortest Campaign: 4 days
Key Takeaway: The data shows that extending BFCM beyond the traditional four days often leads to better results. A multi-week sale period allows brands to capture a broader audience, many of whom may need more time to consider their purchases. By stretching the campaign to around 20-30 days, brands give their ads time to mature and reach new audiences, maximizing reach and impact.
💸 Ad Spend Growth for BFCM
Insight: Brands made significant increases to daily ad budgets during BFCM.
Benchmarks:
Median Increase: 124%
Highest Spend Increase: 714%
Lowest Spend Increase: 64%
Key Takeaway: BFCM ad spending is all about scaling effectively to meet seasonal demand. Many brands doubled their daily ad budgets, while some grew their spending by as much as 700%. This data suggests planning for at least a 100% increase in budget during the BFCM period, with more spending flexibility as ad performance unfolds. Brands also need to be ready to secure extra funds for these high-demand periods—whether through advanced budgeting or flexible funding solutions.
Pro Insight: To keep budgets flowing smoothly, check out Your Guide to Fast Funding for eCommerce Success—a helpful resource for scaling campaigns during the holiday season. Get the Free eBook Now.
📈 ROAS Lift: Revenue Focus over Efficiency