BFCM as a catalyst for customer lifetime value, not just a one-off sale
It may feel counterintuitive but Black Friday Cyber Monday is not a stand alone sales event!?
BFCM is a powerful opportunity to deepen customer relationships and unlock long-term loyalty and, far from being a quick win, should actually serve as a crucial touchpoint in your customer’s lifetime journey.
Each year since it burst onto the Australian retail landscape, BFCM has marked a high-energy start to our summer and Christmas shopping seasons and at The Working Party , we’ve witnessed it shift from a revenue-driven sprint to something far deeper and, for retailers and shoppers alike, more meaningful.
Let’s look at four of the key ways BFCM can be leveraged to deliver a lifetime of value for your customers and your brand.
Position BFCM as a touchpoint in a longer, more meaningful campaign
Brands that succeed during BFCM are those that see it as part of a larger relationship-building effort, using every interaction to reinforce trust and loyalty, not just an opportunity for a quick sale.
As we’ve highlighted previously, The Working Party brand partner LEO LIN integrates their BFCM campaign into a cohesive eight-week strategy. By positioning Black Friday as one part of an extended engagement period, they create multiple points of value for their customers. This approach not only generates excitement during the sales event but also carries their profitability through December and creates a more thoughtful, consistent brand experience for shoppers.
Timing is everything
The timing of your BFCM campaigns is key to maintaining momentum and sustaining customer interest. By carefully planning product releases and targeted offers throughout the season, brands can extend the impact of BFCM well into the holidays and even into the new year.
LEO LIN’s Bridesmaids collection, for example, was launched back in August which both expanded their customer base and created a built-in audience of new customers primed for BFCM. By aligning product launches in advance of peak periods, brands like LEO LIN successfully capture the excitement of BFCM without the need for aggressive discounts.
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Leverage data to identify high-value customers
Data plays a critical role in identifying which customers hold the most long-term potential. Brands that use data analytics to pinpoint high-value customers during BFCM can tailor their outreach and retention efforts, ensuring that these valuable customers receive the personalised attention they deserve.
“Gated sales strategies, in which customers gain access to discounts by completing specific actions, such as SMS opt-ins, completing surveys or reaching loyalty program milestones,” are highly effective, says The Working Party’s Cal Wilson . “Requiring customers to purchase a qualifying item to unlock access to a premium offer, for example, creates a sense of exclusivity, enriches customer data, and ensures discounts serve a strategic purpose.”
Likewise, utilising tools like Klaviyo’s predictive analytics, brands can segment audiences based on potential lifetime value, allowing them to prioritise retention efforts for those most likely to make repeat purchases. Predictive insights can also inform targeted messaging and customised offers, helping to create a journey that feels unique and tailored for each customer.
Build (and nurture) bonds that last
A well-designed loyalty program can transform a single purchase into a deeply committed relationship.
LEO LIN’s House of Leo program offers customers a suite of tailored perks. Laura Good, Head of Marketing at LEO LIN: “House of Leo members benefit from early sale access, showroom shopping days, personal styling appointments, and exclusive lookbooks. They also receive gifts for Christmas and Lunar New Year. The approach is proven, too. House of Leo members spend four times more than general customers annually.”
By rewarding loyal customers with meaningful experiences, the brand is creating a sense of belonging that transcends a comparatively easy ‘date night’ discount.?
Brand loyalty is the gift that keeps on giving, with loyal customers more likely to leave (hopefully glowing) reviews, pass on referrals, and engagement on social media, all of which encourage a broader, deeper connection with your brand.
Want strategic advice on nurturing new customers? Let’s talk.
Absolutely agree that BFCM should be integrated into a broader strategy for lasting success. The focus on long-term relationships is key! What strategies have worked best for you in nurturing those new customer connections?
Marketing Manager at The Working Party
3 个月I think this is the huge piece missing from the BFCM conversation — it's place as a acquisition tool to feed into your broader strategy. If you can provide an exceptional experience: product discovery, browsing, shipping, returns, and just-the-right amount of post-purchase comms, the discounted sale is a gateway to a new relationship. Especially, as other competitions may struggle with an overwhelming sales period and underdeliver in the experience arena.
Senior UX/UI Designer
3 个月Four strategies for FREE? Now that's a BFCM deal ????