10 Meta Ad Strategies to Boost BFCM & Q4 Success
As Black Friday and Cyber Monday (BFCM) 2024 approach, businesses need to start preparing as early as possible for the biggest shopping season of the year. At Foxwell Digital, our team of expert advertisers and Foxwell Founders Members recently shared insights on how to manage budgets, craft winning offers, and fine-tune Meta ad strategies to maximize revenue during this crucial period.
Here are some key takeaways and actionable strategies from our conversation.
1. Prioritize Warm Audiences
Start with those who are already familiar with your brand—email lists, past site visitors, and social media engagers. Allocate a significant portion of your spend at the start and end of the sale to retargeting these groups to maximize conversions early. Don’t forget to include recent retargeting audiences that have engaged with sale content and ads throughout the sale to retarget to on the final days and hours of the sale.
2. Gradual Scaling
Avoid massive jumps in ad spend without a tested plan. Use scenario planning to forecast the outcomes and risks of scaling ad spend, ensuring you gradually build up without overshooting. Also use data from scaling during business-as-usual periods and sale periods throughout the year and data from BFCM 2023 to have a tested and proven plan for what works in YOUR account. Remember — every account is different! This is why testing is so crucial.
3. Craft Irresistible Offers
A strong, clear offer is paramount to a successful Black Friday/Cyber Monday weekend. Aim for promotions that stand out, but are easy to understand, such as discounts of at least 25-30% or exclusive bundles, to make your deals competitive and attractive. Ensure your discounts are auto-applied (no code needed) and your offer is clearly stated on the home page (hero banner) and on each page throughout the site (sticky banner) to remind customers at all times that the sale is going on and what the discount is.
4. Leverage October for Funnel Building
Remember that October is often slower, with lower return on ad spend (ROAS) as customers hold off for November deals — this isn’t unique to your brand/account or to this year. It’s a larger macro-economic factor that you may need to remind brands/owners of. Use this time to launch new products, run smaller promotions, build your email list, perform creative testing to ensure your funnel is primed ahead of BFCM.
5. Staggered Sales Strategy
For brands concerned about inventory or traffic surges, staggering sales can help manage demand. Consider launching weekend-specific offers or early sales on select products to create scarcity and anticipation.
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6. Plan for Emotional Balance
BFCM can be an intense four-day span, with constant performance fluctuations. Setting clear goals and using scenario-based planning helps keep decisions data-driven, avoiding emotional overreactions during high-pressure periods. Remember to check back on previous Black Friday/Cyber Monday ad performance to compare peaks and valleys throughout the day, as well as general consumer behavior, such as when they’re buying vs. when they’re away from their devices. Have plenty of if-then statements ready to go so that if any curveball is thrown your way, you’re ready for it.
7. Revisit and Refresh Creative
Update top-performing creatives with subtle BFCM messaging rather than overhauling everything. This approach saves time and maintains the engagement of proven ads. Don’t forget that you can also run top-performing evergreen ads AS-IS without any changes at all. The social proof and data behind the creative will help the algorithm/the account and its optimization, AND as long as your sale is clear throughout the site, consumers will be expecting a deal even without the ad creative advertising it.
8. Avoid Overextending Inventory
Manage inventory concerns by pacing your offers and creating scarcity. Launching products in phases or staggering deals ensures you maintain stock and fulfill orders efficiently. If you start to foresee inventory issues, adjust your marketing strategy and ads accordingly.
9. Monitor Early Indicators
During October and early November, keep an eye on metrics like click-through rates (CTR) and site engagement to gauge interest levels. Use these insights to refine messaging and optimize for higher engagement when BFCM begins.
10. Staggered Launches for High-Traffic Days
If you’re planning multiple offers, space them out to manage traffic spikes and keep engagement high throughout the BFCM period.
Final Thoughts
At Foxwell Digital, we know that preparation is everything when it comes to Black Friday, Cyber Monday, and the entire holiday gifting season. Whether it’s managing ad budgets, refining offers, or testing creatives, brands that succeed during this period have a clear plan in place well before the big day.
Start testing as soon as you can, use data from throughout the entire year, engage warm audiences early, and refine your offer to ensure you’re ready for the biggest sales event of the year. By planning smart and executing with precision, you can set yourself up for success this Black Friday and Cyber Monday.