Gone are the days when Black Friday was simply a one day event. This once exclusively American post-thanksgiving tradition, has now become one of the peak times of trade: making the most of discount hungry consumers on the hunt for Christmas bargains.

This week of price slashing madness comes to it’s climax on ‘Cyber Monday’.  You might be asking yourself, what exactly is it, who benefits from it, and what strategy should you take to jump on the Cyber Monday bandwagon? We want to show you how to not only make money from manic Monday, but turn it into the most profitable day of selling in your yearly calendar.

What is Cyber Monday?

Falling on the Monday after Black Friday, ‘Cyber Monday’ is a more recent addition to the discount weekend, being named by Shop.org in 2005. The day itself is simple evidence in the power and exponential growth online shopping has undergone in the last decade.

"People were buying on impulse, on the go, and working with sites which were easy to use on mobile phones"

Effectively acting as the last opportunity for consumers to seize cut price products, this is where online retailers come into their own. Last year saw online sales grow to record breaking proportions.

Despite Black Friday still being the main event for customers looking for discounted tech and gadgets, small retailers and the fashion industry come into their own. No longer having to fight over products in the store, stand in crazy queues, or have to brave crowded shopping centres, people are increasingly looking online for dramatic discounts rather than in store.

Cyber MOnday is a bit like Black Friday but without the crush...

Who were the Cyber Monday masters last year?

It’s not hard to guess who the big hitters were last year in the UK. Both Amazon and eBay saw significant increase on sales of all manner of products. What is interesting however, is how people were buying. Despite most taking to their computers and laptops, almost 20% sales were made on mobile devices.

People were buying on impulse, on the go, and working with sites which were easy to use on mobile phones. Top of the buying stakes, in terms of product were clothes, shoes, and bags: Cyber Monday is fashion central. Etailer’s such as ASOS are predicted to overtake their in store counterparts in sales this year, dwarfing high street favourites such as Topshop and New Look.

So where does your SME fit into all of this?

More than anything, Cyber Monday is a great opportunity for any small business, who only retail online, to be sure that they will see a spike their profits. People scower the internet for cyber monday deals, and when your small business is grouped into this trending topic your visibility will significantly increase. You’ve just got to be strategic with how you play the game.

Black Friday and Cyber Monday and good for growing sales

Pre-planning

It's a little late in the day for 2015 - but next year it's a good idea to start early. Begin with teasing emails to customers who have signed up to your website newsletter, giving them a taste of the one day discounts you are planning. Create a sense of urgency and pick products which you are sure will sell.

Also essential in this phase is making sure your site is up to withstanding traffic increase. Perform running tests, to make sure your online shop is not over worked when the big day comes.

Social media selling

Next use your social media outlets to get your customers hyped about Cyber Monday. Send reminder posts to targeted audiences, Tweet using #CyberMonday, or use Instagram to post photo’s of the products you are discounting. You want to direct traffic to your shop directly, so make it very clear how your customers are benefitting. Make sure all of the discounts are the first thing your users see when they arrive on site.

Get mobile

Finally, as aforementioned, you should try and make sure your site is mobile friendly. With so many people taking part in Cyber Monday on their mobiles, streamline your website or even promote your company app to make the buying process all the easier.

So there you have it...how to make the most of Cyber Monday. It could give you the much needed boost your business needs. Don’t dispel this new addition as a Monday of madness, but a Monday of money-making.

Jade Attwood is a writer for The Formations Company