Author: Chris Pearson, Partner & Email Marketing Specialist at 3BM
BFCM weekend may be finished, but your brand growth is only getting started.
While this last weekend is the biggest for many brands around the globe, what they do next is important.
There are two paths:
Path A – Rest on the laurels of BFCM sales, coasting through the end of the year.
Or…
Path B – Retaining those buyers you won over the weekend and turning them into repeat, loyal customers.
Hint: Choose Path B.
Here’s why:
Retention is the “secret” to scale.
Yes, you can go out and acquire more customers for cheaper.
Sure, you could have a warchest of cash and be able to spend more than your competition to acquire your customers…
And you may have wide margins, so your profit per customer is wide.
But…
Business is not a single transaction game.
It’s not about getting one customer after another. That’s only half the game.
The other half?
The half that turns brands into unicorns ($1 Billion Valuation) is this:
Retention.
A brand that can turn a buyer into a loyal customer is the winner.
There are thousands of brands that sell the same product you do (in most cases), but…
There’s only one brand that has your story, your mission, and your message.
The relationship you build with your customers is more valuable than any discount, deal, or coupon code you can offer.
That’s why events like BFCM are only the spark, the catalyst, to a growth cycle for your brand.
The Importance of Following Up After BFCM Sales
BFCM is only the beginning to the next three to 12 months of sales for your brand.
The buyers you acquired this weekend have the potential to stay with you for months, years even, if you retain them.
Following up with these buyers and turning them into loyal customers is THE most important effort you can put into place following BFCM weekend.
Why is this so important?
Increase customer lifetime value. This means that your customers are spending more with your brand over time. This leads to you having a more consistent incoming revenue for your business, as well as more cash flow (depending on your finances) to go out and get more customers and create programs to give your existing customers even more benefit for sticking with you for a long time.
Lower marketing costs. It’s less expensive to get an existing customer to buy from you again than it is to get a new customer to buy for the first time. The success rate converting an existing customer is around 60% while converting a new prospect into a buyer is around 15%. When you grow your customer base, you grow your brand and spend less doing it.
Word-of-mouth referrals. There’s a point where your existing customers become a “sales team” for your brand. They tell anyone and everyone about what you helped them do through your products. This is brand affinity and loyalty. Every brand dreams of reaching critical customer mass, where their customer base actively promotes their relationship with your brand. This accelerates your momentum to grow and build the business.
All of this (and more) becomes leverage for you to grow your brand at a less expensive cost and creates a longer runway for you to keep your doors open.
Because business is an infinite game; it’s about building a business that will outlast you far into the future.
The opposite is a finite game, where not getting the next customer means ruin for the brand.
Let’s not build a brand that way.
An event like BFCM is a big spark to light the fuse for customer retention in your brand.
Strategies for Engaging New Customers Post-BFCM
Here’s what you can do to keep your BFCM customers engaged and encourage them to buy again:
Personalized Thank You Messages. Acknowledge their purchase and thank them. It’s hard to imagine brands not doing this, but majority of brands do not send a “thank you” email after their customers buy from them. It’s a tragedy, because all taht stands between a customer and a feeling of buyer’s remorse is a simple automated email that says, “Thank you for buying from us.”
Exclusive Offers and Promotions. Once a buyer has proven they’re committed to your brand (aka made a purchase), it’s time to start rewarding that behavior. Many brands get this backward and reward people for making one-time purchases, thinking this is how you “make more sales.” And while it does get you a sale; it doesn’t get you multiple. Building a path from first purchase to brand advocate is the first step in turning buyers into loyal customers. Those steps should include exclusive or personalized offers for customers. Loyalty programs. Points programs. VIP programs. Maybe a subscription offer where the customer can save on the price tag and/or shipping. Get the first sale on the value your product delivers. Then, keep customers with incentives.
Feedback and Reviews. Encourage customers to give you feedback. Turn the great responses into reviews. But, also watch behavior. Many people will say what makes them look good, now, but when you watch what they do, it’s completely different than their words. Pair feedback and reviews with action to get more accurate insight into what your customers want and need to stick around. Ask for feedback. Get reviews. Watch behavior. Adjust incentives.
These strategies set up your brand to keep the momentum going after BFCM.
Keeping the Momentum Going: Offering More to Buy
Buying because of a discount is only one reason to buy.
Other reasons include: results, feelings, thoughts, and opinions.
Value comes in all shapes and sizes.
It’s similar to the phrase: “Beauty is in the eye of the beholder.”
So is value; it’s in the eye of the beholder.
Some people see discounts as their reason to buy.
Others find the results/outcomes they can get as most important.
And while it may not “make sense” on the surface, offering your customers more of the same post BFCM can keep the momentum going in regards to revenue and relationships.
And it doesn’t have to be at a discount, either.
Sure, you’ll have a small percentage of your customers who only buy on discount, but…
Majority of your list will buy whether it’s on discount or not. They’re buying for the relationship or the results.
This is where a lot of brands lose momentum after BFCM.
They believe that more discounts and more coupon codes are the only way to keep this momentum going, but…
It’s simply not.
The momentum is in the value you bring to your customers’ lives, not in the discount you offer them.
Because they can get an even steeper discount somewhere else.
Only you can offer the emotional connection, mental stimulation, and physical relief or fulfillment they’re looking for through your brand.
Staying Connected Throughout the Year
The year isn’t over yet.
And then you have another 12 months after that year.
And another 12 after that.
To infinity, and beyond (ifykyk).
So, what does “staying connected” look like with customers after BFCM?
Continuing to add value to the customers’ lives.
This can come in the form of paid ads, emails, sms, social posts, products, education, entertainment, and more.
Be the presence and voice in their lives that they can look and listen to for direction and purpose.
No, you don’t have to be an advocate for a social issue.
However, it will benefit you greatly to identify a problem, take a stand against that problem, and focus your messaging towards solving that problem for as many people as possible.
Your marketing can be valuable in and of itself.
The best part?
As you analyze data from your existing customers, you can start to see patterns or trends from them you can then take to the greater market. This helps you identify what got buyers to trust you on the first purchase, and then tailor your marketing message to those types of people.
This is typically missed by most brands, because they’re focused on simply getting more customers, but…
If you take a step back and ask: “Who are my highest value customers” and then tailor you marketing toward those types of people, then…
You greatly reduce the headache of churn, customer service issues, and more.
These simple adjustments can make a huge impact on staying connected wit your most valuable customers post BFCM.
Best Practices for Post-BFCM Customer Engagement
Engaging customers effectively after the buzz of Black Friday and Cyber Monday (BFCM) requires a thoughtful blend of strategies.
Here are the key do’s and don’ts:
Do’s:
Personalize Your Communication: Tailor your messages to reflect the customer’s previous interactions with your brand. Personalization goes beyond just using their name; it involves understanding their preferences and purchasing history.
Provide Consistent Value: Ensure that every interaction adds value to your customer’s experience. This could be through informative content, relevant offers, or exceptional customer service.
Leverage Data Insights: Utilize the data collected during BFCM to understand customer behavior and preferences. This information should guide your engagement strategies, ensuring they are data-driven and targeted.
Foster a Community Feeling: Engage with customers on social media, through email newsletters, or via community forums. Creating a sense of belonging can enhance brand loyalty.
Encourage Feedback and Act on It: Show customers that their opinions matter. Regularly seek feedback and demonstrate that you are listening by making noticeable improvements.
Don’ts:
Overwhelm with Communications: Bombarding customers with too many emails or messages can lead to disengagement. Keep communications frequent enough to stay relevant but not so much that they become intrusive.
Ignore Customer Service: Post-BFCM is a crucial time to have top-notch customer service. Ignoring customer inquiries or complaints can quickly erode trust and loyalty.
Neglect Segmentation: Treating all customers the same is a missed opportunity. Segment your customers based on their behavior, preferences, and purchase history for more effective engagement.
Overlook the Importance of Mobile Optimization: In today’s digital age, ensuring that all communications and online interactions are mobile-friendly is essential.
Be Inconsistent in Your Branding and Message: Consistency in branding and messaging reinforces brand recognition and trust. Inconsistencies can confuse and alienate customers.
By emphasizing a customer-centric approach and utilizing data and analytics, you can refine your post-BFCM engagement strategies to build lasting relationships with customers.
The goal is to transition from a one-time sale mindset to fostering ongoing engagement and loyalty.
What You Learned – Key Takeaways
- Choose Long-Term Engagement Over Short-Term Gains: After BFCM, prioritize turning new buyers into loyal customers, rather than just celebrating the one-off sales success.
- Retention as a Growth Strategy: Understand that retaining customers is vital for scaling your business, as it increases lifetime value, lowers marketing costs, and builds brand advocacy.
- Personalize and Value Every Interaction: Sending personalized thank you messages, offering exclusive deals, and requesting feedback show customers that they are valued beyond the initial purchase.
- Feedback is More Than Words: Encourage customer feedback, but also observe their behavior for a deeper understanding of their needs and preferences.
- Value Beyond Discounts: Recognize that customers seek more than discounts. They value the results, feelings, and connections they get from your brand.
- Continuous Connection and Value Addition: Stay connected with your customers through various channels and continuously add value to their lives, whether it’s through your products, content, or customer service.
- Utilize Data for Tailored Strategies: Leverage customer data collected during BFCM to tailor your engagement strategies effectively.
- Build a Community Around Your Brand: Foster a sense of belonging among your customers by engaging with them on social media, through newsletters, and community forums.
- Focus on High-Value Customers: Analyze data to identify your most valuable customers and tailor your marketing to similar demographics, reducing churn and enhancing customer satisfaction.
- Best Practices Do’s and Don’ts: Personalize communication, provide consistent value, leverage data insights, foster community, and encourage feedback. Avoid overwhelming communications, neglecting customer service, ignoring segmentation, overlooking mobile optimization, and being inconsistent in branding and messaging.