Mastering Black Friday: Boost Revenue, Loyalty, and Engagement

Table of Contents:

• Start Customer Acquisition Efforts Early
• Choose the Right Discount
• Time Sales to Support Brand Goals
• Plan for the Demand
• Keep People Engaged After the Sale
• Generate Insights Year-Round
• Consider Sale Alternatives

Start Customer Acquisition Efforts Early

For many brands, preparation for Black Friday begins months in advance. Companies like Jones Road Beauty initiate their BFCM strategies in the summer, with customer-facing efforts kicking off in September. By launching campaigns that target different demographics, they aim to attract a wide audience and introduce them to their brand. This early engagement is crucial as it sets the stage for successful BFCM promotions. By focusing on popular products and creating enticing offers, brands can entice potential customers to make their first purchase.

Similarly, Beekman 1802 begins its preparations by choosing a holiday theme and building a narrative that engages customers well before the shopping season. By weaving a compelling story, they keep customers excited and primed for the deals that Black Friday and Cyber Monday bring.

Choose the Right Discount

Determining the appropriate discount is a delicate balancing act. While steep discounts can attract shoppers, they might also dilute the perceived value of a brand. Recent research indicates that moderate discounts, such as those in the 10-25% range, often perform better than deeper price cuts. This trend highlights a shift towards value-driven purchasing, where customers seek quality and value over sheer price reduction.

For instance, Crown Affair, a luxury hair care brand, opts for bundled discounts rather than sitewide slashes. By offering a strategic discount on product bundles, they maintain their brand image while driving sales. This approach ensures that promotional messaging aligns with the brand’s aesthetic, avoiding excessive price cuts that could negatively impact their brand perception.

Time Sales to Support Brand Goals

The timing and duration of sales play a significant role in their success. Brands like Graza choose to hold a month-long Friendsgiving sale in October, avoiding the crowded BFCM period. This strategy helps them stand out and capture customer attention when competition is less intense.

On the other hand, Our Place prefers to keep its BFCM sale limited to a specific timeframe, preserving the exclusivity of their offers. By doing so, they maintain the integrity of their pricing strategy and create a sense of urgency among customers.

Plan for the Demand

Effective inventory management is crucial during the BFCM season. Predicting demand based on past sales data helps businesses prepare adequately. Companies like Crown Affair analyze previous years’ sales trends to forecast demand and set revenue goals. By purchasing safety stock and setting up automated reorder points, they ensure they can meet customer demand without overstocking.

Additionally, brands like Elavi focus on optimizing their website to handle increased traffic. Rigorous testing ensures that the site functions smoothly, even during peak shopping times. This preparation minimizes the risk of technical glitches that could hinder sales.

Keep People Engaged After the Sale

The BFCM season doesn’t end with the weekend. Brands can leverage this opportunity to nurture new customers and reward loyal ones. Crown Affair, for example, extends exclusive deals to VIP customers after the main event, fostering a sense of appreciation and loyalty.

Moreover, planning new product launches and tailored marketing campaigns in the months following BFCM helps keep customers engaged. By offering value beyond the initial discount, brands can build lasting relationships with their audience.

Generate Insights Year-Round

Successful BFCM strategies are often the result of year-round experimentation and data analysis. Brands like Our Place use the early months of the year to test new strategies and channels, allowing them to refine their approach before the holiday season. This proactive approach ensures that by the time November arrives, they have a clear understanding of what resonates with their customers.

Beekman 1802 emphasizes the importance of gathering consumer feedback throughout the year. By understanding customer preferences and desires, they can tailor their BFCM offerings to meet those needs effectively.

Consider Sale Alternatives

While BFCM is synonymous with sales, some brands choose to leverage the season for other business goals. REI’s Opt Outside campaign, for instance, focuses on promoting outdoor activities rather than sales. This unique approach has garnered significant media attention and aligned the brand with its core values.

Similarly, sustainability-minded brands like Tentree use BFCM to support their environmental initiatives. By tying sales to tree-planting goals or fundraising efforts, these brands not only drive sales but also reinforce their commitment to social responsibility.

In conclusion, mastering Black Friday requires a strategic approach that goes beyond mere discounts. By starting preparations early, choosing the right discount strategy, timing sales effectively, and planning for demand, businesses can maximize the benefits of the BFCM season. Engaging customers beyond the sale and generating insights year-round further contribute to long-term success. Additionally, considering alternative approaches that align with brand values can set a business apart in a crowded marketplace. With careful planning and execution, businesses can boost revenue, loyalty, and engagement during this lucrative shopping season.

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