By Anders Spicker
Reading Time: 3 minutes
Do you transform your Black Friday encounters into lasting relationships? Or do you let this annual event be a series of one-night stands?
This imagery might be a little crude, but in effect, that’s the mistake a lot of businesses make during Black Friday. Businesses prepare months in advance, crafting irresistible offers to entice customers and drive sales.
But what happens after the dust settles and the rush of adrenaline fades away?
We're here to help you turn a fleeting shopping experience into a lasting love affair with your customers.
It's time to activate your data and unlock the power of personalized marketing beyond the busiest shopping days of the year.
What place does Black Friday have in 2023?
Before we get started, let’s address a major question that retailers ask themselves:
How many resources is Black Friday worth to you today?
Many retailers recognize that Black Friday doesn’t offer much in added revenue since they feel pressured to lower prices significantly in order to match the competition.
But instead of viewing Black Friday as just a big sales event, you should treat Black Friday as an opportunity for long-term customer acquisition.
Many companies make the mistake of treating Black Friday as a one-time affair. They fail to recognize the untapped potential that lies within their customer data.
This is where data activation comes into play.
A Goldmine of Customer Data
Your business comes into contact with tons of information about your customers each day — their preferences, purchase histories, browsing patterns, and more.
This goldmine of customer data grows explosively during Black Friday.
The valuable data that is left behind after these visits is the key to building long-term relationships and delivering personalized experiences that keep customers coming back for more.
Enter the Customer Data Platform (CDP)
A Customer Data Platform (CDP) is the unsung hero of customer data activation.
It's a centralized hub that collects, organizes, and analyzes data from multiple sources to create a unified customer profile.
By integrating data from various touchpoints such as websites, mobile apps, social media, and in-store interactions, a CDP provides a holistic view of each customer.
Post-Black Friday Data Activation
Let Black Friday be just the beginning of a long-lasting relationship.
With a robust CDP in place, you can utilize the insights gathered during the shopping frenzy to build precise audiences and create personalized experiences that extend beyond that one day of the year.
Here's how data activation can benefit your business
Win back your bargain hunters
Use the CDP to identify customers who made a Black Friday purchase but haven't returned since. Implement win-back campaigns to re-engage these customers, offering exclusive discounts or personalized incentives to reignite their interest and bring them back into the fold.
Understand their wants - and cater to them
Leverage purchase history and browsing behavior to offer relevant product recommendations to your customers. By understanding their preferences, you can provide targeted suggestions that enhance their shopping experience and increase the likelihood of repeat purchases.
Loyalty Programs and Rewards
Use Black Friday data to identify potential candidates for your loyalty program. Customers who made multiple purchases or spent above a certain threshold on Black Friday could be ideal candidates for VIP status or exclusive rewards. Implement a loyalty program that offers points for future purchases, early access to sales, or personalized discounts based on their Black Friday interactions.
Make sure to cross- and upsell
Analyze Black Friday purchase data to identify cross-selling and upselling opportunities. Recommend complementary products or upgrades based on their Black Friday purchases in your e-mail flows. For example, if a customer bought a camera, suggest accessories like lenses or camera bags. Tailored recommendations demonstrate that you understand their needs and preferences, increasing the likelihood of further purchases.
With a CDP, you can bridge the gap between offline and online interactions. Imagine your store clerk getting full access to every purchase a customer has made online, their price preferences, and interests. It's a game-changer that can be utilized across all your channels. This unified approach strengthens customer relationships and reinforces your brand's presence.
Black Friday may be a whirlwind, but don't let it be a one night stand.
By activating your data with a Customer Data Platform, you can turn these fleeting interactions into lasting relationships.
Remember, the power lies in understanding your customers, anticipating their needs, and delivering personalized experiences that keep them engaged throughout the year.
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