27 Oct, 2022
Six tactics for retaining your new customers post-peak season, thanks to the Shopify Plus Playbook.
We’re all asking ourselves, how is it November already?
And how is that we’re prepping for Black Friday and Cyber Monday already? The BFCM weekend will kick-off what for many merchants is the busiest and most important sales season of them all.
But for 64% of retailers, shoppers acquired during BFCM have a lower lifetime value than shoppers acquired at any other time of the year. To make the most of the new customers you’ve acquired, post-peak season strategies must be built around a loyalty-driving lifecycle. Thankfully Shopify Plus has just released its 2022 Peak Season Playbook. It’s packed with helpful insights and practical advice to help merchants make the most of this season and beyond.
Below you’ll find our summary of their recommendations for how to nurture your customers this season, fostering loyalty and long term retention after the frenzy dies down.
According to the Playbook, the chance of a newly acquired customer making a second purchase is just 27%. However if you can achieve that second purchase, the chance they'll make a third jumps significantly to 45%. Makes sense then that brands are encouraged to dedicate at least a quarter of their marketing budget to returning customers.
Here are six ways to optimise your customer loyalty strategy this season:
Make sure you have a compelling offer:
We all know how busy our social feeds get during the silly season, and while most consumers have the intent to buy, the number of brands promoting their offering creates choice overload. Consider what it is you’re selling, who you’re speaking to, and who else may be offering something similar to create a unique message that resonates with your customer and cuts through the clutter.
Win attention with post-purchase loyalty emails:
Welcome emails and post-purchase thank you emails have the highest average open rates. Capitalise on this by including a reference to your loyalty program and get those sign ups rolling in.
Give first time customers a boost:
A great way to entice first-time customers to sign-up. Gift them with some of your loyalty program points to encourage their return.
Send reward reminder emails:
This is a no-brainer really. The chances of them opening this email are much higher. Why? Because it is one of the few emails your customers receive that is 100% personalised—based on their engagement with your brand.
Make it easy for your customer to checkout:
The simplest way to win a customer is through a seamless checkout experience. If a customer experiences any hurdles during the checkout you’re giving them a chance to back out of their decision. Ensuring the customer is expecting the next step, can see all the finer details, price, quantity, and delivery (time and cost) are some quick wins to help drive sales.
Reduce seasonal slumps in the new year:
To increase participation in your January sales, double or triple the points a customer earns for a purchase during this time. Or try offering your loyalty program members exclusive gifts if they make a purchase in January or February.