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9.2.2024
10 minute
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onshopify:

A weekly bulletin detailing the latest news and updates from Shopify.

9.2.2024
10 minute
read
onshopify logo

A weekly bulletin detailing the latest news and updates from Shopify.

BFCM planning: balance customer acquisition and retention

Black Friday and Cyber Monday (BFCM) present a unique, once-a-year, opportunity for your brand to drive significant growth. With the influx of new customers, it's easy to focus solely on acquisition and overlook the importance of retention — the real challenge lies in balancing both.

In this blog, we’ll look at actionable strategies to help your brand gain new customers and keep existing ones happy.  We'll also be referencing Yotpo’s newly released Black Friday Email Marketing Guide, which offers in-depth advice on leveraging email and SMS to prepare for the big weekend.

Customer acquisition during BFCM

BFCM is one of the most competitive times of the year, with consumers actively searching for deals and discounts. Your brand can take advantage of the increased online traffic, using irresistible offers to bring as many new eyes to your site as possible.

However, acquiring customers during BFCM shouldn't be about discounting alone. It's important to consider how you make a strong first impression, showcase your brand's value, and encourage first-time buyers to come back. Your acquisition strategy must smoothly transition into your retention efforts.

Strategies for acquisition

🛒 Leverage scarcity tactics: Create limited-time offers with countdown timers to drive urgency. Scarcity can prompt potential customers to take immediate action rather than waiting.

📲 Optimise for mobile: A significant portion of BFCM shopping happens on mobile devices, so a friction-free and engaging mobile experience is critical.

🎁 Offer exclusive first-time buyer deals: Attract new customers with exclusive discounts for their first purchase. Highlight the benefits of shopping with your brand beyond the discount, such as free shipping or excellent customer service.

🔍 Targeted social media ads: Use data-driven targeting to reach potential customers who are most likely to convert. Tailor your ad creatives to resonate with different audience segments, and utilise retargeting for those who have shown interest but haven’t yet converted.

📩 Encourage SMS sign-ups: Encourage SMS sign-ups ahead of BFCM to ensure your brand can reach customers directly with the best deals when the time comes. Incentivise sign-ups by offering exclusive early access or additional loyalty points — more on this in Yotpo’s guide. 

The long-term value of customer retention

While acquisition can give you a short-term boost, retention is what drives sustained growth. Retaining customers costs significantly less than acquiring new ones, and loyal customers tend to spend more over time.

Retained customers are also more likely to become brand advocates, spreading the word and bringing in new customers through referrals. In essence, a strong retention strategy doesn't just keep customers; it multiplies them.

Strategies for customer retention

💌 Personalised follow-ups: Send personalised post-purchase emails thanking customers for their purchase. Include product recommendations based on their purchase history to encourage future sales.

💡 Tailor offers based on purchase frequency: Customise your offers based on how often a customer shops with you. Repeat customers appreciate personalised recommendations, first-time buyers respond better to educational content or social proof that reassures them of your brand’s value.

🌟 VIP early access & loyalty programmes: Reward your loyal customers with early access to your BFCM sales. This not only makes them feel valued but also gives them an incentive to shop with you first. 

If you don’t already have a loyalty programme, now is the time to introduce one. Encourage repeat purchases by offering points or rewards for every purchase made during BFCM.

📈 Post-purchase surveys: Remember those post-purchase surveys you put in place? Gather feedback and take a look now to understand customer satisfaction. This insight can help you improve your customer experience and increase the likelihood of repeat business.

📱 Use their preferred channel: Yotpo’s guide highlights the importance of reaching customers on their preferred communication channel. Segment your audience based on their engagement history – those who prefer SMS should receive messages via SMS, while email-preferring customers should be targeted through email. This approach ensures your retention efforts are more effective and less likely to annoy customers.

Using SMS to support both acquisition and retention

While email marketing remains a powerful tool, SMS is becoming increasingly vital for both acquisition and retention. SMS allows you to reach customers where they’re most likely to engage – their phones.

🛍️For acquisition, SMS can be used to send time-sensitive offers or remind new subscribers about exclusive deals. It’s a direct way to ensure your messages are seen, especially during the busy period.

🤝 For retention, SMS can be personalised to offer special deals to loyal customers or to follow up on an email campaign. By using SMS to complement your email efforts, you increase your chances of staying top of mind and driving conversions.

Here’s some of our favourite SMS advice from Yotpo’s guide:

🔄 Follow up on unopened emails with SMS: If a customer doesn’t engage with your email, try sending them an SMS. This multi-channel approach can help re-engage customers who might have missed your initial offer.

🛒 Segment other key BFCM audiences: Don’t forget to segment customers like last year’s BFCM shoppers or window shoppers who have shown interest but haven’t yet purchased. Offering these groups targeted deals via SMS can be the nudge they need to convert.

Time and balance

Balancing acquisition and retention during BFCM is key to maximising your brand’s success, but it’s not necessarily about splitting your focus evenly – instead, integrate your efforts to work together, and consider timing:

⏪Pre-BFCM campaigns should build anticipation and capture new leads. 

▶ During BFCM, your brand's messaging should be consistent across all channels. 

⏩Post-BFCM, shift your focus to retention using the actionable strategies listed above. 

By attracting new customers and keeping your existing ones engaged, you create a win-win situation that drives both immediate and long-term growth. Need personalised advice on making the most of BFCM? Get in touch with our Shopify Plus experts today.

Don't forget to visit Yotpo's Black Friday Email Marketing Guide whilst you plan for the biggest weekend of the year!

9.2.2024
10 minute
read
on brand logo

Start planning for BFCM now

s for superco logo
9.2.2024
10 minute
read
onbrand:

A weekly bulletin detailing the latest news and updates from Shopify.

BFCM planning: balance customer acquisition and retention

Black Friday and Cyber Monday (BFCM) present a unique, once-a-year, opportunity for your brand to drive significant growth. With the influx of new customers, it's easy to focus solely on acquisition and overlook the importance of retention — the real challenge lies in balancing both.

In this blog, we’ll look at actionable strategies to help your brand gain new customers and keep existing ones happy.  We'll also be referencing Yotpo’s newly released Black Friday Email Marketing Guide, which offers in-depth advice on leveraging email and SMS to prepare for the big weekend.

Customer acquisition during BFCM

BFCM is one of the most competitive times of the year, with consumers actively searching for deals and discounts. Your brand can take advantage of the increased online traffic, using irresistible offers to bring as many new eyes to your site as possible.

However, acquiring customers during BFCM shouldn't be about discounting alone. It's important to consider how you make a strong first impression, showcase your brand's value, and encourage first-time buyers to come back. Your acquisition strategy must smoothly transition into your retention efforts.

Strategies for acquisition

🛒 Leverage scarcity tactics: Create limited-time offers with countdown timers to drive urgency. Scarcity can prompt potential customers to take immediate action rather than waiting.

📲 Optimise for mobile: A significant portion of BFCM shopping happens on mobile devices, so a friction-free and engaging mobile experience is critical.

🎁 Offer exclusive first-time buyer deals: Attract new customers with exclusive discounts for their first purchase. Highlight the benefits of shopping with your brand beyond the discount, such as free shipping or excellent customer service.

🔍 Targeted social media ads: Use data-driven targeting to reach potential customers who are most likely to convert. Tailor your ad creatives to resonate with different audience segments, and utilise retargeting for those who have shown interest but haven’t yet converted.

📩 Encourage SMS sign-ups: Encourage SMS sign-ups ahead of BFCM to ensure your brand can reach customers directly with the best deals when the time comes. Incentivise sign-ups by offering exclusive early access or additional loyalty points — more on this in Yotpo’s guide. 

The long-term value of customer retention

While acquisition can give you a short-term boost, retention is what drives sustained growth. Retaining customers costs significantly less than acquiring new ones, and loyal customers tend to spend more over time.

Retained customers are also more likely to become brand advocates, spreading the word and bringing in new customers through referrals. In essence, a strong retention strategy doesn't just keep customers; it multiplies them.

Strategies for customer retention

💌 Personalised follow-ups: Send personalised post-purchase emails thanking customers for their purchase. Include product recommendations based on their purchase history to encourage future sales.

💡 Tailor offers based on purchase frequency: Customise your offers based on how often a customer shops with you. Repeat customers appreciate personalised recommendations, first-time buyers respond better to educational content or social proof that reassures them of your brand’s value.

🌟 VIP early access & loyalty programmes: Reward your loyal customers with early access to your BFCM sales. This not only makes them feel valued but also gives them an incentive to shop with you first. 

If you don’t already have a loyalty programme, now is the time to introduce one. Encourage repeat purchases by offering points or rewards for every purchase made during BFCM.

📈 Post-purchase surveys: Remember those post-purchase surveys you put in place? Gather feedback and take a look now to understand customer satisfaction. This insight can help you improve your customer experience and increase the likelihood of repeat business.

📱 Use their preferred channel: Yotpo’s guide highlights the importance of reaching customers on their preferred communication channel. Segment your audience based on their engagement history – those who prefer SMS should receive messages via SMS, while email-preferring customers should be targeted through email. This approach ensures your retention efforts are more effective and less likely to annoy customers.

Using SMS to support both acquisition and retention

While email marketing remains a powerful tool, SMS is becoming increasingly vital for both acquisition and retention. SMS allows you to reach customers where they’re most likely to engage – their phones.

🛍️For acquisition, SMS can be used to send time-sensitive offers or remind new subscribers about exclusive deals. It’s a direct way to ensure your messages are seen, especially during the busy period.

🤝 For retention, SMS can be personalised to offer special deals to loyal customers or to follow up on an email campaign. By using SMS to complement your email efforts, you increase your chances of staying top of mind and driving conversions.

Here’s some of our favourite SMS advice from Yotpo’s guide:

🔄 Follow up on unopened emails with SMS: If a customer doesn’t engage with your email, try sending them an SMS. This multi-channel approach can help re-engage customers who might have missed your initial offer.

🛒 Segment other key BFCM audiences: Don’t forget to segment customers like last year’s BFCM shoppers or window shoppers who have shown interest but haven’t yet purchased. Offering these groups targeted deals via SMS can be the nudge they need to convert.

Time and balance

Balancing acquisition and retention during BFCM is key to maximising your brand’s success, but it’s not necessarily about splitting your focus evenly – instead, integrate your efforts to work together, and consider timing:

⏪Pre-BFCM campaigns should build anticipation and capture new leads. 

▶ During BFCM, your brand's messaging should be consistent across all channels. 

⏩Post-BFCM, shift your focus to retention using the actionable strategies listed above. 

By attracting new customers and keeping your existing ones engaged, you create a win-win situation that drives both immediate and long-term growth. Need personalised advice on making the most of BFCM? Get in touch with our Shopify Plus experts today.

Don't forget to visit Yotpo's Black Friday Email Marketing Guide whilst you plan for the biggest weekend of the year!

s for superco logo
9.2.2024
10 minute
read

How to balance acquisition and retention

Start planning for BFCM now

BFCM planning: balance customer acquisition and retention

Black Friday and Cyber Monday (BFCM) present a unique, once-a-year, opportunity for your brand to drive significant growth. With the influx of new customers, it's easy to focus solely on acquisition and overlook the importance of retention — the real challenge lies in balancing both.

In this blog, we’ll look at actionable strategies to help your brand gain new customers and keep existing ones happy.  We'll also be referencing Yotpo’s newly released Black Friday Email Marketing Guide, which offers in-depth advice on leveraging email and SMS to prepare for the big weekend.

Customer acquisition during BFCM

BFCM is one of the most competitive times of the year, with consumers actively searching for deals and discounts. Your brand can take advantage of the increased online traffic, using irresistible offers to bring as many new eyes to your site as possible.

However, acquiring customers during BFCM shouldn't be about discounting alone. It's important to consider how you make a strong first impression, showcase your brand's value, and encourage first-time buyers to come back. Your acquisition strategy must smoothly transition into your retention efforts.

Strategies for acquisition

🛒 Leverage scarcity tactics: Create limited-time offers with countdown timers to drive urgency. Scarcity can prompt potential customers to take immediate action rather than waiting.

📲 Optimise for mobile: A significant portion of BFCM shopping happens on mobile devices, so a friction-free and engaging mobile experience is critical.

🎁 Offer exclusive first-time buyer deals: Attract new customers with exclusive discounts for their first purchase. Highlight the benefits of shopping with your brand beyond the discount, such as free shipping or excellent customer service.

🔍 Targeted social media ads: Use data-driven targeting to reach potential customers who are most likely to convert. Tailor your ad creatives to resonate with different audience segments, and utilise retargeting for those who have shown interest but haven’t yet converted.

📩 Encourage SMS sign-ups: Encourage SMS sign-ups ahead of BFCM to ensure your brand can reach customers directly with the best deals when the time comes. Incentivise sign-ups by offering exclusive early access or additional loyalty points — more on this in Yotpo’s guide. 

The long-term value of customer retention

While acquisition can give you a short-term boost, retention is what drives sustained growth. Retaining customers costs significantly less than acquiring new ones, and loyal customers tend to spend more over time.

Retained customers are also more likely to become brand advocates, spreading the word and bringing in new customers through referrals. In essence, a strong retention strategy doesn't just keep customers; it multiplies them.

Strategies for customer retention

💌 Personalised follow-ups: Send personalised post-purchase emails thanking customers for their purchase. Include product recommendations based on their purchase history to encourage future sales.

💡 Tailor offers based on purchase frequency: Customise your offers based on how often a customer shops with you. Repeat customers appreciate personalised recommendations, first-time buyers respond better to educational content or social proof that reassures them of your brand’s value.

🌟 VIP early access & loyalty programmes: Reward your loyal customers with early access to your BFCM sales. This not only makes them feel valued but also gives them an incentive to shop with you first. 

If you don’t already have a loyalty programme, now is the time to introduce one. Encourage repeat purchases by offering points or rewards for every purchase made during BFCM.

📈 Post-purchase surveys: Remember those post-purchase surveys you put in place? Gather feedback and take a look now to understand customer satisfaction. This insight can help you improve your customer experience and increase the likelihood of repeat business.

📱 Use their preferred channel: Yotpo’s guide highlights the importance of reaching customers on their preferred communication channel. Segment your audience based on their engagement history – those who prefer SMS should receive messages via SMS, while email-preferring customers should be targeted through email. This approach ensures your retention efforts are more effective and less likely to annoy customers.

Using SMS to support both acquisition and retention

While email marketing remains a powerful tool, SMS is becoming increasingly vital for both acquisition and retention. SMS allows you to reach customers where they’re most likely to engage – their phones.

🛍️For acquisition, SMS can be used to send time-sensitive offers or remind new subscribers about exclusive deals. It’s a direct way to ensure your messages are seen, especially during the busy period.

🤝 For retention, SMS can be personalised to offer special deals to loyal customers or to follow up on an email campaign. By using SMS to complement your email efforts, you increase your chances of staying top of mind and driving conversions.

Here’s some of our favourite SMS advice from Yotpo’s guide:

🔄 Follow up on unopened emails with SMS: If a customer doesn’t engage with your email, try sending them an SMS. This multi-channel approach can help re-engage customers who might have missed your initial offer.

🛒 Segment other key BFCM audiences: Don’t forget to segment customers like last year’s BFCM shoppers or window shoppers who have shown interest but haven’t yet purchased. Offering these groups targeted deals via SMS can be the nudge they need to convert.

Time and balance

Balancing acquisition and retention during BFCM is key to maximising your brand’s success, but it’s not necessarily about splitting your focus evenly – instead, integrate your efforts to work together, and consider timing:

⏪Pre-BFCM campaigns should build anticipation and capture new leads. 

▶ During BFCM, your brand's messaging should be consistent across all channels. 

⏩Post-BFCM, shift your focus to retention using the actionable strategies listed above. 

By attracting new customers and keeping your existing ones engaged, you create a win-win situation that drives both immediate and long-term growth. Need personalised advice on making the most of BFCM? Get in touch with our Shopify Plus experts today.

Don't forget to visit Yotpo's Black Friday Email Marketing Guide whilst you plan for the biggest weekend of the year!

s for superco logo
9.2.2024
10 minute
read
onshopify:

A weekly bulletin detailing the latest news and updates from Shopify.

9.2.2024
10 minute
read
onshopify logo

A weekly bulletin detailing the latest news and updates from Shopify.

BFCM planning: balance customer acquisition and retention

Black Friday and Cyber Monday (BFCM) present a unique, once-a-year, opportunity for your brand to drive significant growth. With the influx of new customers, it's easy to focus solely on acquisition and overlook the importance of retention — the real challenge lies in balancing both.

In this blog, we’ll look at actionable strategies to help your brand gain new customers and keep existing ones happy.  We'll also be referencing Yotpo’s newly released Black Friday Email Marketing Guide, which offers in-depth advice on leveraging email and SMS to prepare for the big weekend.

Customer acquisition during BFCM

BFCM is one of the most competitive times of the year, with consumers actively searching for deals and discounts. Your brand can take advantage of the increased online traffic, using irresistible offers to bring as many new eyes to your site as possible.

However, acquiring customers during BFCM shouldn't be about discounting alone. It's important to consider how you make a strong first impression, showcase your brand's value, and encourage first-time buyers to come back. Your acquisition strategy must smoothly transition into your retention efforts.

Strategies for acquisition

🛒 Leverage scarcity tactics: Create limited-time offers with countdown timers to drive urgency. Scarcity can prompt potential customers to take immediate action rather than waiting.

📲 Optimise for mobile: A significant portion of BFCM shopping happens on mobile devices, so a friction-free and engaging mobile experience is critical.

🎁 Offer exclusive first-time buyer deals: Attract new customers with exclusive discounts for their first purchase. Highlight the benefits of shopping with your brand beyond the discount, such as free shipping or excellent customer service.

🔍 Targeted social media ads: Use data-driven targeting to reach potential customers who are most likely to convert. Tailor your ad creatives to resonate with different audience segments, and utilise retargeting for those who have shown interest but haven’t yet converted.

📩 Encourage SMS sign-ups: Encourage SMS sign-ups ahead of BFCM to ensure your brand can reach customers directly with the best deals when the time comes. Incentivise sign-ups by offering exclusive early access or additional loyalty points — more on this in Yotpo’s guide. 

The long-term value of customer retention

While acquisition can give you a short-term boost, retention is what drives sustained growth. Retaining customers costs significantly less than acquiring new ones, and loyal customers tend to spend more over time.

Retained customers are also more likely to become brand advocates, spreading the word and bringing in new customers through referrals. In essence, a strong retention strategy doesn't just keep customers; it multiplies them.

Strategies for customer retention

💌 Personalised follow-ups: Send personalised post-purchase emails thanking customers for their purchase. Include product recommendations based on their purchase history to encourage future sales.

💡 Tailor offers based on purchase frequency: Customise your offers based on how often a customer shops with you. Repeat customers appreciate personalised recommendations, first-time buyers respond better to educational content or social proof that reassures them of your brand’s value.

🌟 VIP early access & loyalty programmes: Reward your loyal customers with early access to your BFCM sales. This not only makes them feel valued but also gives them an incentive to shop with you first. 

If you don’t already have a loyalty programme, now is the time to introduce one. Encourage repeat purchases by offering points or rewards for every purchase made during BFCM.

📈 Post-purchase surveys: Remember those post-purchase surveys you put in place? Gather feedback and take a look now to understand customer satisfaction. This insight can help you improve your customer experience and increase the likelihood of repeat business.

📱 Use their preferred channel: Yotpo’s guide highlights the importance of reaching customers on their preferred communication channel. Segment your audience based on their engagement history – those who prefer SMS should receive messages via SMS, while email-preferring customers should be targeted through email. This approach ensures your retention efforts are more effective and less likely to annoy customers.

Using SMS to support both acquisition and retention

While email marketing remains a powerful tool, SMS is becoming increasingly vital for both acquisition and retention. SMS allows you to reach customers where they’re most likely to engage – their phones.

🛍️For acquisition, SMS can be used to send time-sensitive offers or remind new subscribers about exclusive deals. It’s a direct way to ensure your messages are seen, especially during the busy period.

🤝 For retention, SMS can be personalised to offer special deals to loyal customers or to follow up on an email campaign. By using SMS to complement your email efforts, you increase your chances of staying top of mind and driving conversions.

Here’s some of our favourite SMS advice from Yotpo’s guide:

🔄 Follow up on unopened emails with SMS: If a customer doesn’t engage with your email, try sending them an SMS. This multi-channel approach can help re-engage customers who might have missed your initial offer.

🛒 Segment other key BFCM audiences: Don’t forget to segment customers like last year’s BFCM shoppers or window shoppers who have shown interest but haven’t yet purchased. Offering these groups targeted deals via SMS can be the nudge they need to convert.

Time and balance

Balancing acquisition and retention during BFCM is key to maximising your brand’s success, but it’s not necessarily about splitting your focus evenly – instead, integrate your efforts to work together, and consider timing:

⏪Pre-BFCM campaigns should build anticipation and capture new leads. 

▶ During BFCM, your brand's messaging should be consistent across all channels. 

⏩Post-BFCM, shift your focus to retention using the actionable strategies listed above. 

By attracting new customers and keeping your existing ones engaged, you create a win-win situation that drives both immediate and long-term growth. Need personalised advice on making the most of BFCM? Get in touch with our Shopify Plus experts today.

Don't forget to visit Yotpo's Black Friday Email Marketing Guide whilst you plan for the biggest weekend of the year!

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