Repeat customers are the Holy Grail of ecommerce. Considering it’s 5x more expensive to acquire new customers than retain existing ones, it’s easy to understand why. Yet, many retailers overlook the importance of nurturing their established customer base. As the peak shopping period of Black Friday approaches, this strategy can significantly impact your holiday sales (not to mention your store’s performance throughout the rest of the year). Read on to learn how – and why – you should target last year’s seasonal shoppers in your Black Friday 2022 campaigns.
The Value of Repeat Customers on Black Friday
At a time of year when every online retailer pours resources into customer acquisition, it can be difficult to stand out. As Black Friday gets closer, most shoppers are swamped by ads, offers, and emails. Unless they already have a relationship with a brand or their eye on a specific product, it’s easy to become immune to holiday marketing.
Retailers that invest in customer loyalty all year-round, however, have a head start during competitive periods.
The stats speak for themselves:
- Increasing customer retention rates by 5% increases profits by 25% to 95%
- Approximately 65% of company revenue comes from the repeat business of existing customers
- 77% of consumers say loyalty programs make them more likely to continue doing business with brands
6 Tips to Attract Repeat Customers This Holiday Season
So, where should you start if you want to bring last year’s Black Friday shoppers back to your site in 2022?
1. Delve into Last Year’s Data
To effectively target last year’s buyers, you need to understand their needs and preferences. You probably haven’t reviewed last year’s Black Friday ecommerce reports for awhile, so look at patterns and behaviors that emerged in 2021. Segment customers into personas based on what they searched for, which merchandising messages and offers resonated, and, of course, what they purchased. Based on these customer categories, your strategy for 2022 will start to take shape.
2. Launch Targeted Communications
With your personas in place, it’s time to segment your mailing list accordingly and develop a targeted email communication plan with personalized messaging. Your paid advertising campaigns should take a similar approach with retargeting ads and customized offers. Recommend similar products to items customers previously purchased or have shown an interest in. Consider offering an exclusive discount or incentive, such as a free gift, if they return to shop with you again this Black Friday.
3. Make Personalized Recommendations
Of course, personalized recommendations aren’t just for email content. Targeted suggestions on the homepage, product pages, and throughout the site are an extremely effective way to boost engagement and drive conversions. Keep in mind that customers may be shopping for gifts this time of year, and therefore looking for products that don’t reflect their typical buying patterns. Dynamic recommendations that adapt based on in-session behavior cater to these shoppers and cross and upsell suggestions can help them check off their holiday gift list.
4. Focus on Long Term Loyalty
Black Friday 2023 shouldn’t be the next time customers hear from you. Loyalty programs and nurtured relationships are a year-round commitment, but the investment pays off during peak and off-peak periods. If you missed this opportunity last year, now is the time to document a plan for how you will continue to engage and value holiday customers long term. Start with personalized post-purchase emails about products they bought and offer an exclusive discount on a relevant follow-up purchase. Continue with regular check-ins, offers, and incentives throughout the year.
5. Don’t Focus on Deep Discounts
While exclusive discounts and incentives can play a valuable role in a loyalty strategy, it’s important to avoid a race to the bottom on price. Deep discounts might attract one-off Black Friday customers who are lured by a good bargain, but this strategy can devalue your brand in the long run. If extreme reductions are your only differentiator, you risk losing your hard-earned shoppers to the first retailer that offers a better discount. Instead, focus on brand community, lasting relationships, and the shopper experience.
6. Start Now
What used to be a one-day shopping spree on Black Friday has spread to a five-day “Cyber Weekend” extravaganza, spanning Thanksgiving to Cyber Monday. Recent trends show that holiday shopping starts earlier and earlier every year. This means it’s never too soon to launch your Black Friday campaign. When it comes to targeting last year’s shoppers in particular, don’t wait until the last minute to make your move. The later it is, the more likely your customers will discover another retailer’s offers or campaigns, and complete their holiday shopping before you even get started.
Build Shopper Loyalty with Black Friday Advice From the Experts
Black Friday is no longer a transactional, single-day event. Treat the holiday season as an opportunity to build loyalty and nurture relationships. If you do this, your store will reap the benefits long into the New Year.
For even more insights on how to turn last year’s shoppers into repeat customers this holiday season, don’t miss our webinar on this very topic. The next installment in our Black Friday Webinar Series has everything you need to know about generating shopper loyalty this time of year.
Register now for advice from our panel of experts.