🛍️ Black Friday is just around the corner!
And I bet your marketing and sales team are in full swing to achieve record sales this season.
With 84% of Irish consumers planning to shop on Black Friday and Cyber Monday, it's crucial to plan the right strategy to reach your audience and maximise results.
However, businesses face a few challenges when advertising during this period:
➡️ Increased Competition: Brands are all competing for customer attention, making it harder to stand out.
➡️Pricing Pressure: giving out heavy discounts without proper planning can impact profit margins and negatively impact the company’s finances
➡️Bid increases: higher competition online leads to a war bidding, increasing costs per click (CPC) and cost per impression (CPM)
But, what if I told you can you reach a highly qualified audience with almost no budget?
I’m talking about your existing customer base!
💰 Selling to your own customers is cost-effective as you already have a communication channel with them and don’t need to spend too much on ads.
😍 They already trust your brand! You don’t have to convince these customers that your product or service is trustworthy because they already have first-hand experience.
📈 Loyal customers tend to spend more than new ones, especially during sales seasons, as they’re often receptive to cross-selling and up-selling strategies.
🤓 Create personalized offers using purchasing and behaviour history of your clients. Offer targeted promotions that align with what they’ve bought before, or recommend products they’re likely to love based on their previous interactions with your brand.
This strategy works best if you’ve established a strong relationship with your customers from the start. Offering great customer services after the sales are done can be a turning point in your company.
But you can use this Black Friday as an opportunity to improve your bond with your customers. And you may even turn a one-time shopper into a repeat customer and brand advocate.
So, instead of allocating all your marketing budget and hopes to expensive ads, focus on what you already know works: a tailored approach to existing customers. Not only will this improve your ROI, but it will also foster loyalty and build long-term relationships beyond the holiday season!
#BlackFriday #CustomerLoyalty #PersonalizedMarketing #SalesStrategy #MarketingTips
Head of Content at Hunch
1moLuka Rautar thank you for sharing practical tips and evergreen knowledge on this topic! Excited to share the content we've prepared! 🍀