Discover last-minute BFCM strategies for boosting sales, loyalty, and CLTV during Black Friday and Cyber Monday.
As the countdown to Black Friday and Cyber Monday (BFCM) is well underway, business owners may find themselves racing against the clock to prepare. If you're one of those individuals feeling the pressure, take a deep breath – we're here to assist.
Much like you, many people tend to put off their BFCM preparations. From the GWI Zeitgeist Data 2023, they found that 22% of respondents admitted to kicking off their planning just one week before, and 12% even confessed to waiting until just a few days before the event.
Facing the extensive planning and decision-making involved in creating a delightful holiday shopping experience for both new and loyal customers, BFCM can pose a substantial challenge for many brands. Some brands might not have a well-defined BFCM plan at the ready, leading to heightened stress for all involved.
Nevertheless, by incorporating a set of powerful strategies, brands can unlock the potential of BFCM to boost engagement, sales, customer acquisition, and loyalty like no other time of the year. The question is, what are some rapid methods to get ready for the most significant shopping event of the season?
In this blog post, we'll delve into last-minute strategies to help you maximize your success during this critical shopping season.
Black Friday and Cyber Monday are the biggest shopping events of the year in almost every eCommerce brand calendar, and the competition can be intense.
‘Tis the season to spoil your customers with exclusive rewards, discounts, and significant savings. Simultaneously, you can leverage this discounted sales period to attract new customers, boost sales, and cultivate loyalty and retention among your existing customers.
To meet the expectations of their customers, brands must create a well-thought-out plan for their holiday season offerings and discount deals. It's not just about short-term sales; it's about nurturing long-term customer relationships.
By focusing on strategies that turn one-time buyers into loyal, repeat customers, brands can boost the Customer Lifetime Value (CLTV) and maintain loyalty well beyond the Black Friday and Cyber Monday (BFCM) rush.
To highlight the magnitude of this growing event for eCommerce, here are some facts and statistics that outline its importance for eCommerce retailers.
For context, $9.12 billion was spent during the Black Friday sales period in 2022, which saw a 2.3% increase from the year prior.
Thus, with 12.5% of people stating they are anticipating spending more this Black Friday, we can only expect an increase in revenue this year.
If you remain unconvinced about the critical importance of fully capitalizing on BFCM for merchants, simply keep an eye on how your competitors thrive during this sales period.
This goes beyond just short-term discounts and deals; it's a comprehensive, long-term strategy that enables merchants to drive sales and foster lasting customer loyalty.
If you’re convinced and need some quick hints on how to get your BFCM campaign up and running, there are still ways to maximize your success. Let's explore some quick-win strategies.
Let your customers know about your upcoming Black Friday and Cyber Monday discounts in advance. This gives them time to prepare and explore your brand before the big day.
Turn your discount promotions into an opportunity for your dedicated customers to unlock rewards within their exclusive membership levels. Provide extra points and show them their progress toward reaching the next tier to add a touch of gamification to your loyalty program this holiday season
As these mega sales approach, sending point reminder emails to loyalty program members can keep your brand fresh in their minds whether that’s via email or SMS.
Shoppers will want to maximize their discounts by combining loyalty rewards with BFCM deals, giving them more bang for their buck and more points for their purchases.
Create personalized segments and boost engagement with tailored SMS campaigns, like using our Attentive x Influence.io integration.
Ensure your post-purchase emails are well-tailored and personalized. This increases the chances of customers returning for more shopping.
Incentivize review collection in your post-purchase emails or even the collection of review attributes. More reviews mean more social proof and more attributes mean more data to make actionable recommendations to customers.
During the BFCM rush, customers may abandon their carts due to distractions. Send follow-up emails to remind them about their abandoned carts and provide an easy path to complete their purchase.
Timely reminders can help recover lost sales and encourage customers to finalize their transactions. By ensuring your follow-up emails are prompt and engaging, you can significantly reduce cart abandonment rates and boost conversions throughout the busy BFCM period.
Ensure that your website is designed for user-friendliness and effortless navigation, with a particular emphasis on enhancing the experience for your loyalty program members. Promote key features, such as our prominent full-page widget, which stands out and offers convenient accessibility.
Maintaining the visibility of your loyalty program is crucial throughout the year. However, ensuring it's both visible and easily accessible can lead to an uptick in sign-ups and increased engagement during your Black Friday and Cyber Monday (BFCM) campaigns.
Consistency in your messaging across different platforms is vital to emphasize the exclusive deals and discounts available to members of your loyalty program, ultimately driving an increase in sign-ups.
Craft a simple but enticing offer, such as offering double loyalty points. You can create a sense of urgency by making this offer valid just over the Black Friday and Cyber Monday period, increasing its appeal.
Advertise this offer prominently on your website during the sales event to entice potential customers, encouraging them to sign up for your loyalty program.
During Black Friday and Cyber Monday, many shoppers pay attention to what influencers and affiliates recommend. Consider increasing affiliate commissions during this period to attract more traffic to your site.
Setting up Affiliate Marketing during BFCM means that you can get existing customers to promote your brand to their connections, therefore, incentivizing repeat purchases and gaining new customers through their networks. It’s a simple setup process at Influence.io with modules, guides, or our manual installation.
Track the performance of your BFCM campaigns in real-time.
Monitor key metrics like referral traffic, conversion rates, and loyalty program engagement. Use these insights to tweak your strategy on the fly and maximize results, ensuring that your BFCM efforts are as effective as possible.
As Black Friday and Cyber Monday (BFCM) approach, eCommerce brands need to recognize the immense opportunity these events offer. BFCM is more than just a sales boost; it's a chance to cultivate lasting customer relationships and enhance Customer Lifetime Value (CLTV).
To maximize success even at this last minute, our quick strategies are there to be leveraged: make your deals visible and enticing, send reminders to loyalty program members, personalize post-purchase emails, optimize your website experience, create compelling offers, and leverage affiliate marketing.
These steps can set the stage for not only a successful BFCM but also long-term growth and customer loyalty. So, take a deep breath, apply these strategies, and make this BFCM your most successful one yet.
Ready to transform seasonal shoppers into lifelong customers? Join Influence.io now and discover how your brand can thrive through a well-crafted loyalty program and a BFCM strategy