The weather is getting colder, and the Christmas shopping season is approaching. What has become increasingly popular over the last decade or so, is the worldwide embrace of Black Friday and Cyber Monday.
These are huge shopping days that punctuate the holiday retail season, with most stores getting ready to slash their prices to encourage one-off mass spending. However, there’s no long term advantage to your store if that customer buys one item, once. Black Friday and Cyber Monday are perfect days to get your customers to use your loyalty program, as more rewards will mean more return purchases for the 10 day run up to Christmas, the Boxing Day sales, and onward through the new year.
So how can you encourage your shoppers, reward them, and make money on Black Friday and Cyber Monday? We’ve put together the following easy tips to answer this:
This is a fantastic period to utilize the points system as much as possible. Offer more points for visiting, or double points on products. This will drive sales, especially if you sell accessories for your main products. It will engender the need to claim those points on your products at a later date, giving you that extra boost if they decide to come back for Christmas.
Instead of slashing the prices on all your products, think about using the loyalty program for discounting a particular product or set of products. This will mean that your most loyal customers will have first dibs on the discounts, and will encourage others to sign up for the loyalty program to have access to those same discounted prices.
If you are going to offer all your customers a reward during this seasonal spike, make sure it is a real reward. This means giving your customers enough points where the reward is linked to immediate exchangeable value at your store. For instance, with LoyaltyLion, 500 points is equal to £5 off a customer’s next purchase. Not only will it mean that your customer will feel rewarded for being loyal to your store, but they can transfer those points into a purchase before the Christmas period.
It’s important that if you do decide to offer all your members enough points for the smallest reward (as stated above) that you then communicate this to them via email. This is a perfect opportunity to mix marketing with your reward, and will delight your customers instead of spamming them. This creates a genuine need to contact them, generating a real relationship with the people you hope to have a long term association with.
Everyone has friends and family on their mind in the run-up to Christmas, it is why this is the busiest retail season. So if you know your customers are out there trying to make their inner circle happy, what better time is there than to offer points, incentives, and vouchers for friends and family that are recommended to your loyalty program? This will increase your number of customers and reward your current members.
If you want more advice on how to reward your customers and encourage loyalty during this pivotal quarter, then get in contact with our customer service team, and we can walk you through how to make the most of the holiday season.
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