Black Friday is upon us. This year over the Thanksgiving Weekend shoppers are expected to spend over $50bn in the US alone. It’s a big deal! In light of this, what are you doing to capitalize on the rush? How are you planning to make more from your customers? In this post I will cover 7 ways RetentionGrid can make you more money. Also check out the RetentionGrid 2015 Holiday Calendar to for even more tips for the coming months.
1. Give Your Big Spenders a Little Extra Sugar
No doubt there will be discounts or offers on site. There will also be plenty of new and old customers returning. The one thing I can recommend is sweetening the deal for your big spenders. The top 10% of customers spend 3x more than the your average customer and the top 1% spend 10x more. Heading to the Filters tab and selecting ‘Big Spenders’ automatically selects the top 20% of your customers. You can change the ‘average order value’ if you want, to make it even more targeted. Then click ‘Update Filters’
You could email these customers with maybe an extra discount coupon to get them to spend even more in your shop or maybe even offer them free shipping (if you don’t already). You message them by simply clicking ‘Create Campaign’. These are the customers you want shopping this holiday season.
2. Target Your Best Customers through Ads
As I’ve outline above, it’s worth getting your biggest spending customer spending more. This also means it could be worth spending a little extra on them in the form of Google or Facebook ads. What you can do is select the big spenders segment above and then instead of clicking ‘Create Campaign’, you choose ‘Download CSV’. This gives you a list of that segment that you can create a special Google or Facebook Ad for, ensuring that you are front of mind this Thanksgiving Weekend.
3. Use Ads to Reach Customers Who Don’t Accept Email Marketing
Sometimes some of your customers will decide they don’t want to receive email marketing from you anymore. Maybe they just receive too many emails? This is a common problem as it’s rare that customers sign back up for email correspondence. However, there is no need to worry. You can still reach these customers with help from RetentionGrid and some Ads.
Simply select, ‘Invest in Ads’ on the Filters tab. Then update the filters. This shows all the customers with above average order value, who no longer accept email marketing. You can now use the Download CSV button to get a list of these customer for use in special Black Friday Facebook or Google ad campaigns.
4. Are All Your Customers Aware of Black Friday?
Not all countries are as involved or aware of the Thanksgiving Weekend shopping madness. Maybe you also have deals that are exclusive to US based customers and don’t want to mistakenly advertise these discounts to other countries.
A great way of honing in on the customers from the right country is adding in some countries on the Filters tab and then updating the filters. You may for instance want to choose just the US, as I’ve shown. You can then send these customers an email campaign solely appealing to your US customer base or even something as simple as a ‘Happy Thanksgiving’ email can go a long way to bring those customers back for another purchase.
5. Strike While the Iron Is Hot with Active Customers
As you will see on your RetentionGrid there are a lot of customers scattered across the different segments. Well it’s always best to strike while the iron is hot and the customers that have purchased from you in the last 90 days are definitely going to be the most engaged. I don’t know about you though, can you remember everything you bought online in the last 3 months?…… Are you sure?….. Ok well for all the people who are a bit more forgetful like me, jog my memory. Reach out with a nice friendly email letting me know you have some Black Friday offers you think I should know about.
This differs from a generic email blast to everyone because you could start with a subject line like “Thanks for shopping with us recently, here’s your Black Friday offers” or get creative, you know your customers best. This is how you select those customers:
6. Create a Special Coupon Code for Loyal Customers
Your loyal customers in RetentionGrid have all made 4 purchases or more. They obviously love your store and these customers always spend more than the rest of your customer base, so how can you get them engaged on Black Friday?
Make them feel special, they are very special! These are your loyal customers, consider an extra discount code for them, a freebie or potentially the promise of something else in the future if they purchase something on Thanksgiving Weekend. Subject lines like “As one of our best customers, we’re giving you …..” or “Have….. because you’re one of our favourites” make it personal. You can simply select the green Loyal segment in the grid and send them a one-off campaign a few days before the main event.
7. Don’t Send One Email, Send 7!
Ok this might sound like a lot of work. But it really isn’t and the best thing is it means you don’t leave any money on the table. Send a one-off campaign to each of your different RetentionGrid segments or group a couple of segments together like your ‘At Risk’ and ‘Red Alert’. Then create a suitable discount for each segment, meaning you don’t give too much away to your customers who are going to buy anyway. It really gives you greater flexibility to give bigger discounts to some segments than others and not lose out on any revenue opportunities. Rather than just sending one generic email or discount to everyone.
If you want to make the most of your Black Friday sales, be sure to use RetentionGrid and watch them take off!