Learning from Black Friday 2024: Keys to Analyzing the Performance of Your Digital Strategy

This year 2024 Black Friday has taken us by storm; not only because the competition is increasing and we have to be aware of campaigns 24/7 but also because of the peculiarity of this year. 

But the hard work has provided us with a number of important learnings that can help you reflect on your company's results and adjust your strategy for upcoming high-impact events. 

1. Timing Matters More Than It Seems

• The end of the month factor: When Black Friday falls near the end of the month, consumers tend to have less money. This year, many of us wondered if it would have been more effective to activate the discounts a week earlier to attract buyers at a time when they have more purchasing power because they have not yet spent their budget. 
• The last day out of the month: Having Cyber ​​Monday in a different month than Black Friday allowed for a final push in sales, but made year-over-year comparisons more complicated. This can be an opportunity if you prioritize segmented analysis by month.

2. Budget Optimization and Key Days

• A winning Friday and a forgettable Saturday?: Historically, Saturday has proven to be the slowest day of Black Friday, and this year it has been even more so. We wondered if an efficient strategy could be to reduce investment on that day in order to reinforce Friday and Sunday, when sales usually pick up.
• Discount phases: Implementing different discount levels throughout the week works best. It creates a sense of urgency in the user that keeps sales going. This is especially useful to avoid stagnation on weaker days (Saturday?).

3. The Importance of Detailed Records

• Document the activation anniversaries (email sending, discount campaigns, peak hours) are an indispensable resource to better plan for the coming year. Having precise and specific data facilitates more informed decision making.

4. Always On: A Hybrid Strategy

• Always On Campaigns: Leaving regular campaigns active while launching specific Black Friday campaigns has shown good results. This ensures that the audience continues to interact with the brand beyond the discounts.
• Advantage Campaigns: Activating automated campaigns and reviewing them periodically has proven to be a profitable practice during periods with high discounts such as Black Friday. Take advantage of the automatic optimization tools that the platforms offer.

5. Email Marketing and Lead Generation

• Prepare the ground with a constant lead capture before the event has yielded positive results. Email marketing remains a powerful tool to mobilize customers during Black Friday and retain them for future campaigns, so we recommend email capture that lasts not only on Black Friday.

6. Real-Time Review and Strategic Creatives

• Monitoring sales spikes and adjusting your budget in real time is key to maximizing ROI. Make sure you identify your busiest times and reallocate resources strategically. It’s hard work, but you’ll find the results are worth it. 
• Key creatives: Having at least one piece of user-generated content (UGC) can be a key differentiator. Additionally, repurposing previous campaigns with creative tweaks can reduce costs and maintain effectiveness.

7. Rethinking the Black Friday Peak

• Black Friday starts earlier each year, which has softened traditional sales peaks. This can be an advantage if you're looking to keep a steady stream of revenue flowing throughout November, rather than concentrating it all on one day.
• Do not activate discounts on Friday itself: Starting discounts before Black Friday itself allows consumers to plan ahead and avoids the saturation of offers in a single day.

Conclusion

Black Friday is no longer just an event, it is a long-range strategy that requires a meticulous and dynamic approach. This year's lessons reflect the importance of planning ahead, optimizing in real time and documenting every action to maximize results in future editions.

Is your strategy aligned with these trends? Evaluate your data and adjust your tactics to ensure even greater impact in 2025. If you have other takeaways or differences in your results, we’d love to hear your perspective. Let’s talk!