Black Friday & Cyber Monday 2023: Here’s how to get ahead of your competition

Hi! ??

I’ll be talking about #BlackFriday #CyberMonday #BrandLoyalty #LongTermLoyalty #CustomerData #SeamlessExperiences #Gamification

Did you know that in Welsh, Black Friday? is “Dydd Gwener y Gwario Gwirion”, which translates into “Silly Spending Friday”??

Holiday spending extravaganza is slowly defrosting and making its way to us.?

Black Friday and Cyber Monday are two of the most anticipated shopping events of the year, offering consumers the chance to snag incredible deals on a wide range of products.?

For businesses, these shopping extravaganzas represent a significant opportunity to boost sales, attract new customers, and build brand loyalty.?

In this edition, we’re sharing…

• When the right time is to push BF and CB deals live
• Promotion ideas & how to let your customers know about them?
• And what you should prioritise and focus on

But first — what’s the difference between the two shopping days?

Historically speaking, Cyber Monday typically offered better deals for online consumers. Although it’s also the younger term between the two, it’s still an excellent opportunity to push those last deals out after Black Friday ends.

But Black Friday has adapted to online deals, too. Most businesses now offer online as well as in-store deals.

Generally speaking, Black Friday and Cyber Monday have been overlapping in the recent years with the rise of technological advancements.?

When should I start pushing Black Friday & Cyber Monday deals in my business?

Many businesses start their Black Friday nice and early. That is especially true for businesses who operate online, as they will likely publish their deals in the first few days of November (if not earlier).

While there is no definite guide on the perfect timing, we recommend you plan your Black Friday strategy ASAP.?

Learn how to run a successful 2023 Black Friday campaign here.

Same goes for Cyber Monday. The earlier, the better.?

Creating a hype about exclusivity and the deals will attract more customers over time, and have them keep you in their mind.

Consider gradually releasing information about it through multiple channels.

How to let your customers know about Black Friday & Cyber Monday deals

Make it easy.?

Let your customers be aware of the two biggest shopping days on time. You can mention it in your monthly newsletter, on your social media channels, create a dedicated landing page or even launch automated email sequences.

If you are using your loyalty program as part of your Black Friday & Cyber Monday efforts this year, don’t make your customers work for it.?

Make sure that any promo codes and calls to action are visible at every point in the customer journey. This will increase the likelihood of buyers signing up or engaging with the offer.?

How you can turn your Black Friday & Cyber Monday shoppers into long-term loyal ones

Loyalty mechanics can create value for new and existing customers.?

Remember, value isn’t just about price. Value is anything you can offer to potential customers that will give them more incentive to buy.

What can you offer that will make your customers feel valued?

You could reward bonus points for new sign ups, or offer extra points for making purchases this Black Friday. This will give your customers a good reason to come back to you for their Christmas shopping.

You can also offer rewards for those who encourage sign-ups from family and friends. Make it easy for customers to refer friends with unique URLs delivered via email, social and mobile.

If you already have a loyalty program in place, you can use Black Friday to increase your sign ups.

Take a look at ways that loyalty programs can make this Black Friday into your most successful one yet.?

Promotion Ideas for Black Friday & Cyber Monday 2023

While you might be tempted to spend your budget convincing customers to buy, we say it’s time to refocus your efforts towards creating more value.?

?And we're not just talking about cheap prices here.

We understand BF & CM are about discounts, but it's the extra something that can help differentiate you from all the other offers from your competitors.

Value can come in the form of rewards, incentives, fun and engaging activities, and even personalised experiences.?

By promoting instant customer gratification and offering compelling benefits, you can improve customer acquisition and retention.

1. Gamified retention techniques

Gamified promotions involve using game mechanics to keep customers engaged with your brand. To keep people coming back for more, there must be some element of challenge and reward.?

Example: For new customers, create a challenge to make an additional purchase before Christmas. Customers who achieve the challenge can get a reward (think, a discount on that purchase). Challenges make great incentives because they tap into a person's competitive nature.?

1. Social media marketing campaigns

Black Friday & Cyber Monday are a great opportunity to start building non-transactional relationships with your customers. You could ask them to do something super simple - like submit a Christmas wish list or share their favourite Christmas tradition. Then, share the responses on your social media page.?

This can inspire your community to create user-generated content related to your brand.

Let’s see some of the ways social media can improve brand loyalty and why you should be rewarding social media activity.

1. Prize draws

Promo giveaways are contests in which you offer a free product or service as an incentive to enter.?

Using this method, you're enticing people into your contest by giving them a chance to win something of value.

Discover how PepsiCo collects valuable customer data with receipt scanning, all whilst running an engaging gamified campaign.?

Short & simple: what should you focus on?

To make the most out of these frenzied shopping days, it's crucial to have a well-thought-out strategy in place. Here are four key points to focus on during Black Friday and Cyber Monday.

?? Collect customer data. First and foremost, you want to collect as much data on your customers as you can. This will help you with future campaigns — for example, you can send out personalised offers and recommendations in time for Christmas deals.

(PS. Loyalty programs are your way into collecting valuable first-party data)

?? Keeping it simple. A cluttered website can deter potential buyers, especially during the hectic Black Friday and Cyber Monday sales rush. Ensure that your website is user-friendly, with clear navigation and fast-loading pages.

?? Omnichannel experience. We all like to compare and find the best deals, don’t we? Customers may browse products on their smartphones, research cheaper prices on a desktop, and finalise their purchase in a physical store. By offering an omnichannel experience, you enable customers to switch between these channels effortlessly, maintaining their shopping progress and preferences across devices.?

?? Follow-up. Send thank-you emails, request feedback, and offer post-purchase incentives, such as exclusive discounts or loyalty rewards. This not only strengthens customer relationships but also encourages repeat business.

?? Interested in retaining your customers better at no extra cost? Make sure to subscribe to our monthly Loyalty Insights. We share even more insights and top industry tips and often send out FREE guides.