Black Friday isn’t just an ordinary event; it’s a global tradition that businesses and consumers alike look forward to, both to make the best of it. It’s no wonder Black Friday consistently ranks as the biggest shopping day of the year, witnessing billions of dollars in transactions unfold within the blink of an eye.
The numbers speak for themselves - Over half of Americans purchased something online during Black Friday 2022, and 49% did the same in 2021, underscoring the immense significance of this day for E-commerce business owners. The high traffic of customers looking to take advantage of the discount deals means that you have a huge opportunity to make more sales than you’ve made at any other point within the year.
There is no hard and fast route to offering deals to your customers; the truth is that any form of discount will attract people, provided you target the right audience. If you have recently added a crypto payment option to your checkout page, Black Friday deals are a strategic avenue to promote them. By offering discounts to shoppers who are willing to pay with cryptocurrency, you inadvertently promote your business and attract the larger crypto community to try out your online shop.
In this article, we’ll discuss a few strategies on how to leverage Black Friday to create irresistible deals that will promote your checkout page and drive up your sales, not just for the Black Friday period but even beyond.
Let’s dive in!
The Rise of Cryptocurrency in E-commerce
Gone are the days when traditional payment methods were indubitable. As digital technology improves, consumers and businesses seek alternative payment methods that allow cheaper, faster, and more secure transactions.
Merchants usually have problems with traditional payments like credit cards as they charge high processing fees and have a huge risk of chargeback fraud, often leaving merchants in disarray.
As cryptocurrency grows in popularity and more consumers become familiar with it, merchants are also turning to cryptocurrency as a viable payment option for their online stores due to the advantages outlined below:
- Security and Fraud Prevention: The immutable nature of the blockchain makes it such that once a transaction is added to the blockchain, it becomes virtually impossible to alter; hence, no one can tamper with these financial records. Even in decades, the transaction records will remain in the blockchain’s ledger, with the sender and receiver's addresses, timestamps, status of the transactions, and all other information.
Hence, this public ledger and proof, which are accessible to the public, make it impossible for either party to dispute the status of a transaction. Whether it is successful or not, both parties will definitely be aware. As a result, the risk of chargeback fraud, which is quite common with credit card transactions, is eliminated.
- Speed and Efficiency: Cryptocurrency transactions are processed with remarkable speed, often taking mere minutes or even seconds to confirm, without having to wait for the traditional 3 to 5 working days or dealing with delayed payments.
Moreso, traditional financial systems involve numerous intermediaries, each taking a slice of the pie. However, cryptocurrency streamlines this process by eliminating intermediaries, allowing direct peer-to-peer transactions. This not only speeds up transactions but also reduces associated fees.
- Global Reach: Cryptocurrency knows no borders. It's a universal currency that can be used globally. Business owners can reach clients and partners anywhere in the world without the hassles of international wire transfers and currency conversion. With cryptocurrency, you can skip the currency exchange headaches. Transactions occur in the cryptocurrency of your choice, which can be easily converted if necessary. This eliminates hefty currency conversion fees that can eat into your profits as a merchant.
Black Friday Promotion Strategies For Your Crypto Checkout Page
Limited-Time Discount For Crypto Payments
Limited-time discounts are one of the most popular ways to execute a Black Friday promotion. It allows your shoppers to feel a rush of urgency, as the incentive is time-bound.
A promotion with the tagline “Shop with crypto this Black Friday and get a 20% discount on all purchases” is a great way to increase your sales, attract crypto enthusiasts to shop on your website, and also open up your existing customers to the possibility of using cryptocurrencies to make payments. After all, who doesn’t want to leverage a good deal?
This sense of urgency and exclusivity triggers the emotional side of shoppers, and you are bound to make more sales!
Cashback Offers For Crypto Payments
Cashbacks are a phenomenon where you reward your customers with a portion of the total transaction value spent. For example, a 10% cashback means that someone who spends $100 worth of BTC will get $10 worth of BTC to shop with on your website.
The beauty of cashback is that it encourages repeat business on your website. Some people may even look forward to accumulating transactions on your website to increase their cashback and use it to purchase something significant. On the one hand, you make your customers happy, as though they have gotten something for free, and on the other, you increase your sales volume and have a higher overall accumulated profit.
Flash Sales For Crypto Transactions
Implementing compelling flash sales is another avenue to leverage Black Friday to promote your crypto checkout page. Flash sales present an opportunity to offer substantial discounts while capitalizing on the fear of missing out (FOMO) phenomenon, prompting individuals to act swiftly.
For instance, you could offer a flash sale that allows all people who make purchases with Bitcoin during a particular period to get 30% off the regular price. Of course, this will attract crypto enthusiasts, who will be more than willing to participate in the event and check out your website for other things that could catch their fancy.
You could also conduct flash sales at different intervals with a countdown timer on your website, allowing people to look forward to them, thereby building interest in your website.
Accepting Crypto Payments For Your E-Commerce Website
The easiest way to execute cryptocurrency transactions is by simply providing a wallet address to the purchasing party to make payments while the selling party confirms the payment.
However, when accepting cryptocurrencies on your eCommerce website, it is not sufficient to include a QR code or wallet address. To automate the process, facilitate ease, and eliminate bottlenecks, it is crucial to employ crypto payment gateways on your checkout page.
A crypto payment gateway is a digital tool or service that facilitates the acceptance and processing of cryptocurrency payments for eCommerce businesses and merchants.
Crypto payment gateways operate as middlemen, facilitating secure cryptocurrency exchange between buyers and sellers. With a single crypto payment checkout page, crypto payment gateways allow you to accept multiple cryptocurrencies easily.
CCPayment is one such crypto payment gateway that simplifies the process of accepting crypto assets as payments for commodities. It converts fiat currencies into their corresponding crypto values, verifies payments, notifies you as a merchant, and provides top-notch security as well as accounting features to manage your business.
Why Choose CCPayment?
CCPayment is a leading crypto payment gateway service that enables businesses to accept crypto payments. With a range of unique features, CCPayment is the ideal choice for businesses looking to accept crypto payments.
CCPayment processes over 900 cryptocurrencies, particularly trendy ones with high trading volume and high liquidity; hence, with CCPayment, you have the perfect pool to pick from while your transactions are processed at an industry-low 0.03%; hence, you can process $1,000 worth of transactions with as little as 30 cents.
Other advantages of using CCPayment include:
- Easy API integration with existing e-commerce platforms
- Compatibility with 70+ wallet service providers, including all major ones.
- Real-time transaction processing
- Security-audited payment gateway.
To begin accepting crypto payments on your website, all you need to do is create an account with CCPayment, set up your preferences, copy API keys, and plug in your E-commerce website integration, and you’re good to go!
Promoting your crypto checkout button is a smart move to help you tap into a fresh avenue of crypto-enthusiast customers. It can also help you educate your existing customers and prospects about more payment options as they look to make the most of the opportunity to get discounts.
Black Friday is a perfect avenue to try out the abovementioned strategies and boost your e-commerce business.
Take the first step towards boosting your sales with Black Friday! Embrace CCPayment and create an innovative and efficient checkout experience for your customers. Get started now!