500FRIENDS BLOG
Loyalty trends & best practices

5 Pointers for Retailers during this Black Friday & Cyber Monday

by Arif Damji
November 13, 2015
5 Pointers for Retailers during this Black Friday & Cyber Monday

The largest consumer shopping time of the year is upon us and as many retailers are preparing, we've come up with 5 pointers for how to use your loyalty program to make the most of this Black Friday and Cyber Monday:

  1. Layer special offers for your loyalty members
    Black Friday and Cyber Monday promotions are normally sitewide or store-wide, aimed at your entire customer base. However, think about this from a member’s perspective--they joined for additional benefits and rewards. Consider providing members with points multipliers, exclusive sale items, or additional discounts (though be careful of margin implications). Also, remember that if you are worried about managing liability with the program, additional offers don’t have to be published or aimed at the entire member base.

  2. Target your lapsed members
    Members who haven’t made a purchase in a significant amount of time are perfect to retarget and reacquire during Thanksgiving. You have the information about their past purchases and timings. Find compelling offers and create multiple lapsed member segments to target.

  3. Utilize product level offers
    All retailers have access to past purchase data, and loyalty programs allow retailers to tie purchases back and identify a customer history correctly. Many now even have loyalty profiles with members self-reporting on their preferences. Use this information to promote products that that are particularly relevant for each segment of members.

  4. Provide your VIP tiers with additional benefits
    Often, VIP tiers in retail loyalty programs lack exciting benefits and perks. Given your VIP members will be shopping with you this Thanksgiving, “surprise and delight” them with an additional benefit or perk. Extra points, expedited shipping, and early access to sales are all good starting points.

  5. Push enrollment during this period
    Lastly, we must consider that a loyalty program is only as enticing as the number of members it includes. As Thanksgiving is an important time for new customer acquisition in retail, make sure that the program is well placed to see a spike in new memberships. Improved homepage loyalty banner placement, increased in-store marketing collateral placement, and inclusion of the program benefits in call center scripts will all help you drive new memberships.

Hope you have a great shopping season and for more information about seasonal loyalty strategies, please contact us here.


comments powered by Disqus
SEARCH
SUBSCRIBE

Enter your email address recieve notifications of new posts

ARCHIVES