2 - My Best Learnings & Case Studies from BFCM 2024-2025

Q4 2026 WORKSHOP - DAY 1

My Best Learnings & Case Studies from BFCM 2024 and 2025

• My BFCM 2024 and 2025 numbers
• Motivation
• Revenue distribution during the month of November
• When does the CPM start to increase?
• Top 10 Learnings

BFCM 2024:

Almost scaled to $1M in 24h with 3 clients.

Total of the 4 days BFCM:

Brand 1: Scaling to €4k/hour Case Study

Black Friday 2023: €146k/day

Black Friday 2024: €465k/day

Old Client - Fashion (Nov 2024)

Here we already scaled from Nov 1st to Nov 15th:

2025 BFCM

Case 1:  

• -21% Shopify revenue compared to 2024
• -44% Meta ad spend compared to 2024
• +19% Meta ROAS
• Blended ROAS 2025: 17.76
  Blended ROAS 2024: 12.50
  

€3M (-4% YoY) with -25% less Meta ad spend

• Context:
  2022 and 2023 we did 500k in those 4 days
  Then 2024 €1.2M
  So in 2025 they wanted more profit and less ad spend, so we ended at 977,000€.
  And 2026 will be something similar in terms of maximizing ROAS (net profit) while keeping good scale

Case 2:

• BFCM 2022: $60k
• BFCM 2023: $89k
• BFCM 2024: $208k
• BFCM 2025: $212k

Brand where we scaled from $600k/year to $3.5M/year by maximizing Flash Campaigns in 2024 and 2025, but now this year we really needed to fix the evergreen, and maintain the same level of revenue per Flash Campaign:

Maintain big flash campaigns, improve the evergreen and correct the worst months:

Case 3 (UK):

• BFCM compared to 2024: -16%
• Nov 1 - Dec 1 compared to 2024: +2%

Before the key learnings,

Extra motivation from previous attendees of this workshop:

3 members at $1M per month:

$25k/day in ad spend

Scaling to €50k/day and €353k/month

€82k in 4 days, +300% compared to the previous year:

€5.9k/day on BF 2022 to €30k/day on BF 2023

$90k/day in BF 2024 to $170k/day in BF 2025

Revenue distribution during the month of November

It really starts on Nov 22nd:

Flat November,

Scale with strategic wave surfing,

Start the big push on Forgotten Friday + Weekend.

Then, Monday and Tuesday are low, and Wednesday the real party starts.

In this case we do BIG DROPS, not BF during all November, a big drop on a strategic day, before BFCM so we have 2 revenue peaks:

Full Black Friday month

When does the CPM start to increase?

CPM doesn’t increase until the 25th (2024):
(Objective -> Sales)

CPM starts to increase from the 15th on (2025):

CPM increases on the 24th (2025):

CPM increases on the 24th (2025) but in 2024 it started to increase much earlier:

KEY LEARNINGS

• The weekend before the Black Week, outperforms the Black Week (Friday, Saturday, Sunday > Monday, Tuesday, Wednesday)
  
• Thursday before BF is slow in the USA due to Thanksgiving, but it’s very strong in the rest of countries
  
• The CPM starts to increase on the 15th,
  Sometimes it doesn’t increase a lot until the 22nd-25th
  
• Demand remains mid-low until the 20th (Forgotten Friday is on the 20th this year)
  
• In BFCM: Saturday is the worst day, usually starts slow, I manage it reactively and calmed. Don’t get over hyped from a big Friday. Preserve the scaling for Sunday and Monday.
  

So yes, it was probably a mistake to start Friday morning so relaxed. 200€/hour at 7am, or 300€/hour at 8am is stupid. And then 10 to 11am still had not scaled and was spending 350€/h

• In terms of delivery and absorbing budget, manual overbidding takes the budget faster
  
  Overbidding = CPA equivalent to <1 ROAS
  Mid = 1 ROAS (your AOV)
  Underbidding = Good ROAS (CPA for ROAS 3 is $50, then you put Cost Cap 50 that’s underbidding)
  
• In terms of delivery and absorbing budget, campaigns with hundreds of purchases accumulated take the budget faster
• Winning Ads
  
• Also ABO was more unstable than CBO, CBO was more consistent and would sustain high budgets
  
• Using the word “Black Friday” on ads increases CPM
  

• Run evergreen campaigns and be strategic in running ads with discounts without mentioning Black Friday (LOWER CPMs)
  Evergreen creatives
  Evergreen creatives with a discount
  Black Friday offer creatives
  
• Overall winning ads:
  Simple product visual image, big discount text
  
• Live IG videos (pre-recorded) are the easiest hack to capture attention from your IG followers