How to Turn Your Holiday Sales into Long-term Customer Retention
Have you read the latest report from eMarketer about how loyalty programs will influence customers in their decision on where to shop during this holiday season? Apparently, the highest effect – at least 55% of respondents said so – will be on mass merchandisers, followed by department stores (48%) and electronics retailers (43%).
And there is another fact that eMarketer revealed in its ‘Online Holiday Shopping Forecast and Trends 2016’ webinar: mobile and Amazon will rule the online shopping industry, and ecommerce will experience another boom during the holiday rush in Q4.
It’s okay to push hard to reach your annual sales goals in Q4 – everyone does. But what happens afterwards? What will you do in the stagnant period of Q1?
Although it may seem too early for you to think about now, believe me. Your Q1 results will be highly affected by your retention strategy in Q4. And this is what our team would like to help you with. In the next infographic we list some tips and tricks about how you can retain your holiday shoppers when the shopping madness of this holly jolly period is over.
Don’t let your holiday shoppers slip away after Q4
See? Everything depends on how you can provide a great (and most importantly personalized) experience and a good deal for your holiday shoppers. How can you satisfy their needs for mobile accessibility and offer content that helps them make purchase decisions?
And of course, this list is extended with our greatest area of expertise: loyalty programs.
A loyalty program can really make a difference during the holidays. It helps you stand out from the noise and provides a wide range of incentives for price-sensitive shoppers who are searching for the best deals in Q4. With a loyalty program, you can encourage shoppers to:
- Register an account, therefore reducing the use of guest-checkout
- Sign up for your newsletter list, therefore remarketing them with email campaigns
- Refer other customers, therefore saving costs on customer acquisition
Once a shopper has signed up for your loyalty program, you can retarget them with relevant offers in Q1. Here’s what we recommend:
- Remind them of their point balance as an incentive to come back.
- Hold double point events, for more great shopping opportunities in Q1.
- Offer exclusive rewards that members can redeem their points for, like free shipping or coupons.
- Give them an opportunity to support a cause that you both care about.
- Grant loyalty points for customers who write product reviews or post product photos to Instagram.
And the list of benefits doesn’t end there. In my next blog post, I’ll dive into even more details about how you can incorporate a loyalty program into your holiday marketing strategy. But until then…