Beyond the Buzz: Strategic Moves Post Black Friday Cyber Monday
As the dust settles on another exhilarating Black Friday Cyber Monday weekend, it’s time to shift gears and focus on the critical actions that follow. In this final instalment of our series, we explore strategic moves to maximize the momentum generated during BFCM. These steps are crucial for sustaining growth, retaining customers, and setting the stage for a successful holiday period and start to the new year.
Analysing Repeat Customer Behaviour: A Key Metric for Success
Delve into the data to analyse the data from previous BFCM customers. Did they buy again? If so, did they make a purchase at full price? Were return rates higher amongst this segment? Understanding the patterns of previous BFCM customers provides valuable insights into how to maximise their lifetime value (LTV) going forward.
Leveraging Word of Mouth: Referrals and Reviews
Harness the power of word of mouth from all those new customers you acquired. Encourage referrals and reviews to amplify your brand’s reach. Satisfied customers can be your best advocates, attracting new shoppers through positive recommendations.
User-Generated Content (UGC): Building Authenticity and Trust
Tap into your new customers for some valuable UGC. Encourage them to post and tag your products on social media, creating authentic content that resonates with your audience. Additionally, leverage this UGC on your website and in marketing materials to build trust and showcase real-life experiences with your brand – hopefully reducing customer acquisition costs moving forward.
Encouraging Engagement: Socials, SMS, Loyalty, and Subscriptions
Engaging new shoppers beyond the first transaction will increase the likelihood they buy again from your brand. Encourage them to follow your social media accounts, sign up for SMS updates, download your app and join loyalty programs or subscription offerings if available. Building a direct line of communication ensures that your brand remains top-of-mind for future engagements.
Complimentary Products for New Customers: Seizing Seasonal Opportunities
Consider offering complimentary products to new customers, to give them good reason to make that all important second purchase. With the holiday season now in full flow, promoting gift cards can be a great way to help these new customers spread the word about your brand.
Setting up an Email Flow for New Customers: Nurturing Relationships
Create a focused email flow specifically designed for new customers can help encourage many of the desired actions above. Further nurture these new relationships by providing valuable content, exclusive offers, and insights into your brand. A strategic email flow keeps your brand relevant and encourages repeat business.
Extended Returns and Exchange Policies: Enhancing Customer Experience
Extend your returns and exchanges policies to give customers even more comfort when purchasing. Recognize the impact that returns may have on your Q4 and Q1. Is there a way you can incentivise exchanges instead of returns? e.g., offering free store credit for an exchange rather than a return. This customer-centric approach can be a differentiator and a key factor in turning one-time (or even zero-time) shoppers into loyal customers
Excite Customers Beyond BFCM: Capitalizing on Year-Round Opportunities
Don’t let the momentum fizzle out after BFCM. Plan exciting sales and promotions throughout the holiday season and into the new year. Explore opportunities around upcoming events like Christmas, Chinese New Year, Valentine’s Day, St. Patrick’s Day, and more. A well-planned calendar of sales keeps your brand actively engaging with subscribers and maximizes revenue opportunities.
Conclusion: Sustaining Success Beyond BFCM
As Black Friday Cyber Monday becomes a distant memory, these strategic actions are the key to maximising the impact of all the new customers you hopefully acquired. Whether it’s analysing customer behaviour, leveraging word of mouth, encouraging engagement, or planning exciting sales, each step contributes to building a resilient and thriving segment of customers who will be advocates for your eCommerce business. Gear up for the challenges and opportunities that lie ahead and make this post-BFCM period a launchpad for sustained growth in the coming year!
We hope you’ve enjoyed our series of blog on Black Friday Cyber Monday. If you’re seeking a funding partner for 2024, consider Juice. We offer flexible, scalable credit options tailored to your business’s needs. Get in touch today.