Black Friday and Cyber Monday (BFCM) is no longer limited to the weekend, it goes far beyond with businesses moving the starting line earlier and finishing line later every year. In 2022, a staggering 196.7 million shoppers participated in Cyber Week which is an increase of 8 million from the previous year.
BFCM has become a pivotal period for retailers, and planning your strategy well in advance can make all the difference. In this blog post, we’ll explore key insights and tips from Klaviyo on how to maximise your BFCM success.
Customer Acquisition vs. Retention: A Strategic Dilemma
One of the crucial questions businesses face when planning their BFCM strategy is whether to prioritise acquiring new customers or retaining existing ones. While acquiring new customers is essential for growth, it can be an expensive endeavour especially when CPMs are through the roof.
Whilst we do caution that every single business is different, Klaviyo’s data points directly at a retention strategy due to 45% of BFCM sales, on average, coming from known customers. This number has also steadily increased over the past several years. This means that, according to Klaviyo, the success of your BFCM season largely depends on your current customer base.
A/B Testing: The Key to Elevating Your BFCM Campaign
To ensure your BFCM campaign is firing on all cylinders, Klaviyo recommends investing time in A/B testing now. This approach allows you to fine-tune your marketing strategies and optimise for the best possible results during the holiday season.
Consider experimenting with different subject lines, adjusting the time of email sends, personalising content, comparing static images to GIFs, testing various call-to-action (CTA) elements, evaluating email copy length, and comparing different discount amounts. These tests provide valuable insights into what resonates best with your audience, enabling you to craft a more effective and engaging BFCM campaign that maximises conversions and success.
Harnessing the Power of Reviews
90% of online shoppers consider reviews to be the most crucial part of their decision-making process. This means highlighting reviews is essential to get customers over the line.
To make the most of this insight, Klaviyo suggests incorporating reviews into your BFCM strategy. Encourage satisfied customers to leave reviews and showcase them prominently on your website and marketing materials. Positive reviews build trust and confidence in your brand, ultimately driving sales during the holiday season.
Embrace SMS Marketing: Unlock a 5.5x Conversion Rate
SMS marketing is a game-changer, with Klaviyo reporting a staggering 5.5 times higher conversion rate compared to email. Embracing this channel allows you to engage with your audience more effectively and ensure your message is seen.
If you haven’t incorporated SMS marketing into your strategy yet, now is the time to ensure your message not only reaches your audience but also prompts action during the busy BFCM period. Don’t miss out on the opportunity to elevate your BFCM campaign to the next level but adding SMS marketing and increasing your conversion rate.
Supercharge Your BFCM Strategy
Preparing for BFCM is no longer an option but a necessity for businesses looking to thrive during the holiday season. As we move close to BFCM consider how your strategy will revolve around existing customers and new customers, what A/B tests you can perform, if you’re showcasing reviews to your best ability and how you can integrate SMS marketing into your strategy.
Need help with your digital marketing strategy? Contact us today, a performance-based digital marketing agency with the expertise and resources you need to thrive.
