As we close the chapter on Black Friday and Cyber Monday for 2023, it’s time to reflect on the performance of our campaigns. Let’s take a deep dive into each key metric and compare the results with those of 2022.
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Total Sales
The 2023 campaigns were a resounding success in terms of total sales. On Cyber Monday, we witnessed a substantial 212% increase compared to 173% in 2022, showcasing a significant boost in consumer spending. Black Friday followed suit with an impressive rise from 148% in 2022 to 181% in 2023, reflecting a strong consumer response. During BF Week, the total sales grew by a more modest margin, from 20% in 2022 to 23% in 2023, setting a solid foundation for the main events. Interestingly, the Average 30-Day Pre BF Week saw no change from the previous year, remaining steady at 0%, which indicates a consistent pre-event performance year over year.
ACoS (Advertising Cost of Sale)
In 2023, the ACoS for Cyber Monday showed an increase, moving from 25% in 2022 to 30%, suggesting a higher investment in advertising to drive sales. Black Friday also saw a similar pattern, with ACoS rising from 24% to 30%. During BF Week, ACoS climbed slightly from 24% to 32%, indicating a strategic increase in ad spending. In the Average 30-Day Pre BF Week, ACoS increased from 27% to 34%, likely reflecting an early-stage investment in advertising for the upcoming shopping events.
TACoS (Total Advertising Cost of Sale)
TACoS during Cyber Monday in 2023 increased marginally from 6% in 2022 to 10%, hinting at a broader investment in advertising relative to overall revenue. This trend was consistent on Black Friday and throughout BF Week, with TACoS rising from 6% to 10% and 8% to 12%, respectively. In the Average 30-Day Pre BF Week, TACoS also saw an increase from 7% to 13%.
CPC (Cost Per Click)
During Cyber Monday, CPC increased from $1.15 in 2022 to $1.63 in 2023, indicating a higher cost to engage potential customers, likely due to more competitive ad bidding. Black Friday also saw a rise in CPC, moving from $1.18 in 2022 to $1.60 in 2023, suggesting a similar competitive advertising environment. Throughout BF Week, the CPC climbed from $1.16 to $1.50, reflecting a broader trend of increased ad costs leading up to major shopping events. Interestingly, in the Average 30-Day Pre BF Week, the CPC trend was slightly different, with an increase from $1.20 in 2022 to $1.43 in 2023. This gradual rise in CPC over the month leading up to Black Friday indicates a ramping up of advertising efforts and market competition as the event approached.
CTR (Click-Through Rate)
The CTR during Cyber Monday improved slightly in 2023, moving from 0.24% to 0.25%, indicating more effective ad engagement. Black Friday also witnessed a similar increase in CTR, going from 0.29% in 2022 to 0.26% in 2023. During BF Week, the CTR improved from 0.36% to 0.30%, and in the Average 30-Day Pre BF Week, it remained relatively stable, changing from 0.37% to 0.35%.
Conversion Rate (CVR)
The conversion rate on Cyber Monday increased from 16% in 2022 to 18% in 2023, showing more successful conversions from ad clicks. On Black Friday, the CVR remained stable year over year at 17%. BF Week also saw a consistent CVR, maintaining at 17% from 2022 to 2023. The Average 30-Day Pre BF Week mirrored this trend, with the CVR holding steady at 16%.
YOY Organic Sales Lift
For Cyber Monday, organic sales jumped significantly from 181% in 2022 to 236% in 2023, reflecting a stronger brand presence and customer loyalty. Black Friday saw a similar increase in organic sales, rising from 163% to 207%. During BF Week, there was a modest increase from 12% to 24%, and in the Average 30-Day Pre BF Week, organic sales remained unchanged, as expected in the lead-up phase.
Sessions
The number of sessions on Cyber Monday increased from 106% in 2022 to 118% in 2023, indicating successful efforts in driving web traffic. Black Friday also experienced a rise in sessions, moving from 105% to 111%. During BF Week, sessions saw a growth from 23% to 26%, and in the Average 30-Day Pre BF Week, there was no significant change, remaining at 0%.
In conclusion, 2023’s Black Friday and Cyber Monday campaigns demonstrated remarkable improvements across most metrics, reflecting strategic advancements in marketing and a deeper engagement with our audience. It’s clear that our efforts in adapting to market trends and consumer behaviors have paid off.
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