For 64% of retailers, shoppers acquired during holiday sales, like BFCM have a lower lifetime value (LTV) than shoppers acquired at any other time of the year. (NZ Post)
What should brands do to retain customers and increase loyalty after peak sales season and into the new year? Successful brands don’t look at BFCM or Christmas sales as single events, but rather a continuous sales cycle.
Here are some tips our Shopify experts recommend you use to increase loyalty beyond 2022:
⏲️Extended the sales period: run sales beyond the event week. It’s an opportunity for repeat purchases, and new customers who may be lagging to convert during cyber week.
🏆Remember the 80/20 rule: 80% of business often comes from 20% of customers. Therefore, don’t lose sight of your VIP customers. Points-free loyalty strategies help to nurture customer relationships and show your appreciation for their loyalty. Offer them exclusive sales, rewards, and unique experiences such as a live premiere shopping experience.
👥Create a loyal community: for 64% of retailers, shoppers acquired during BFCM have a lower LTV than shoppers acquired at any other time of the year. Implement post-purchase strategies to generate reviews and engage customers through loyalty-based incentives.
🔎Segment & re-target: use your valuable peak seasons sales data to segment customers, and compose valuable, personalised email and SMS communications for them, such as new products in-store, post-purchase flows and discount codes.
If you’re looking to level up your growth strategy this holiday period, get in touch!