Infamous for its dizzying levels of frenzy, Black Friday Cyber Monday (BFCM) is undoubtedly one of the biggest shopping events of the year.
In the run-up to the festive season, brands big and small offer generous discounts and deals for customers hoping to snag pre-Christmas bargains.
The impact of the BFCM weekend is staggering. In 2018, Shopify merchants collectively made over $1.5 billion USD in sales over the BFCM weekend – that’s $37 million per hour and $870,000 a minute.
This year, BFCM will start with Black Friday on 29th November and last throughout the weekend, culminating in Cyber Monday on 2nd December, which is for online-only sales.
With competition so fierce, retailers are starting to offer deals and discounts earlier and earlier in an effort to upstage Black Friday itself. Last year, the number of deals actually hit their peak the week before Thanksgiving.
If shoppers are turning their minds towards Christmas deals earlier, it’s crucial to start fostering relationships with your existing customers in the run-up to BFCM, not just once the event has arrived.
This blog post sets out three key strategies you can implement ahead of BFCM to remind your customers why you’re such a great brand fit for them and the benefits they get from shopping with you – and not your competition – over the pre-holiday period.
Last year, merchants using LoyaltyLion saw their customers claim 2.65 times more rewards over BFCM than on a regular weekend.
Clearly, customers are saving their points to spend over the discount season. They’re demonstrating loyalty towards their favourite brands where they can earn and redeem points – even over the ease and convenience of using Amazon.
If your customers have points to redeem then let them know! Before BFCM weekend, send out a friendly email reminder to let your customers know the good news. You can even let them know about promotional offers they can take advantage of to gain more loyalty points in the run-up to the holiday season.
Lingerie and sleepwear brand, Brayola, do this brilliantly by sending reminders to their customers outlining how many available points they have on their account, and the ways they can be redeemed.
Prepare your customers and lay the groundwork for BFCM early by making points-earning easy and clear for the customer. Show new and old customers alike how to earn points in the run-up to BFCM so that when the big weekend rolls around, they’ll have earned enough to redeem against certain rewards.
A simple and easy-to-execute tip is to run on-site campaigns that tell your existing customers the additional ways they can earn points through your loyalty program. That might be through leaving a review, following you on social media or referring your brand to a friend.
Our research showed that 48% of customers are equally as likely to take the time to refer friends over BFCM weekend as on any other weekend – with an additional 28% being more likely to refer during BFCM. With stats like this, why not make referrals the centre of your BFCM campaign? Your loyal customers will earn more points and you get more eyes on your website during the crucial selling period.
Skincare brand Manuka Doctor does exactly this. They put referrals front and centre of their loyalty program by showing a pop-up box that tells the customer how many points they can earn by referring a friend. This encourages already loyal customers to refer others. At the same time, the referred customer will spend more as they have been recommended by someone they trust; customers acquired through referrals spend 200% more than the average customer.
The run-up to BFCM can be a great time to acquire new customers and get them enrolled in your loyalty program. Make sure you clearly communicate the advantages of being a loyalty member across all customer touchpoints. For instance, share posts about the advantages of your loyalty offer on social media or launch an on-site pop-up that shows them what perks or discounts they’ll get if they join your program.
Our research showed that 41% of customers are just as likely to use the quick guest checkout when shopping over BFCM weekend. It’s therefore important to communicate the perks of your loyalty program and get them signed up to your program before BFCM comes around. This will be beneficial to them as much as it is for you – you gain new loyalty members and they can redeem points and get discounts over the big weekend.
For example, Gymdirect runs a series of pop-ups on their site that communicate the instant rewards customers get the moment they become a member.
In the lead up to the festive season – where every retailer has something to sell – it’s crucial to get new and existing customers engaging with your loyalty program before BFCM comes around. The three key strategies to implement in order to best prepare for BFCM are:
Want to learn more strategies to retain loyal customers this holiday season? Check out our BFCM 2019 loyalty pack, full of ways to win this Black Friday Cyber Monday. Or, have a read of our next blog in this series that shares the loyalty strategies you should be implementing over Black Friday this year.
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