Loyalty Blogs

The peak buying season is almost here but this year things might be quite different. Considering the current situations like how inflation, supply chain woes, and increasing acquisition costs are affecting the shoppers’ behavior, brands must keep the focus on these things as they prepare for Black Friday and Cyber Monday (BFCM). This time of the year undoubtedly attracts one-time shoppers incentivized by huge offers and rewards.

However, it is often a struggle for many businesses to turn their holiday shoppers into lifelong brand enthusiasts. In this blog, we will find out how a well-strategized Customer Loyalty Software Solution can make your business turn one-time buyers into lifelong customers.

Why Brands Must Use Loyalty Programs to Boost Customer Loyalty in BFCM?

As the shopping trends change after the pandemic, many shoppers in the UK prefer personalized shopping experiences and added value while shopping during BFCM, as stated by research by Salesforce. Brands making use of the right rewards management software are successful in offering customers the value that customers expect such as exclusive perks, gifts, customized experiences, etc.

Another study by Epsilon says more than 80% of customers like to purchase from brands that offer personalized experiences. The brands using loyalty programs can grab the benefits to engage shoppers even after BFCM, which will help in preventing customers from buying from a competitor. Loyalty programs not only encourage high-value customers to make more purchases with your brand during the holiday season but also help in turning these customers into lifelong ones even after seasons’ sales.

Using loyalty programs makes 60% of global shoppers more loyal to the brands they are associated with, says Yotpo’s State of Brand Loyalty Report 2022. Gaining brand loyalty helps businesses improve communication with their top-performing customers, increase CLTV, and lower churn rates to competitors.

How to Make the Most of BFCM Season with Loyalty?

– Dealing with post-BFCM dips

For many brands, it can be quite stressful after BFCM season when they deal with fewer purchases and lesser consumer engagement. However, time spent away from your brand means customers get time to look into competitors before the arrival of the next on-season. By using loyalty programs, brands can stay engaged with customers continuously & keeps them on top of their mind by rewarding shoppers for social follows SMS sign-ups, and email sign-ups.

Staying relevant is the key where you send out timely messages about upcoming promotions before the start of BFCM’s sale launch. By making use of data from your loyalty program, you can share timely reminders of their existing points balance and encourage higher order value during holiday purchases.

Post-BFCM sales are a great time to educate customers on why your customers must choose you over your competitors. After the pandemic, customers have switched to new shopping behaviors, which is why shoppers are readily switching to new brands. But using loyalty programs gives customers a reason to stick with your brand.

Give your brand a chance to engage shoppers in a new way during sales season using loyalty programs and educate them with engaging content to show why the brand is beating competitors even before the start of next season’s sales.

– Maximize Black Friday and Cyber Monday Sales with Loyalty

Using loyalty programs helps brands to make the most of peak season by rewarding the highest-value shoppers. More than 80% of shoppers being members of loyalty programs influence their decisions to buy again from brands. However, marketing the right way is essential to grab the attention of the best customers during BFCM.

Promote the loyalty program before the start of the season sale using website banners, social media campaigns, emails, SMS campaigns, etc. to encourage sign-ups of the loyalty program. As a reward, one can consider instant gratification like reward points for registration or double points on holiday purchases. This means, newly joined members get the chance to use their points to encourage them to shop during season sales.

Give special focus to VIP members by giving sneak previews of upcoming BFCM sales to build excitement where you can offer exclusive early access to sales, new product launches, and special discounts before the official launch. Instead of giving seasonal offers to all shoppers, give exclusive offerings to loyalty members only and even better rewards for higher tier members.

Closing Statement

We all know the significance of loyalty for a business and why it is considered the most important aspect of success. Retaining existing customers is far more beneficial and cost-effective than acquiring new ones as acquisition costs are higher than retention costs. The only way for brands to make a difference during the holiday season is to make use of the Loyalty Rewards Program which takes seasonality into account.

Novus is an all-in-one rewards Management Software that helps thousands of brands to manage the entire loyalty program lifecycle effectively using custom solutions. Aligned with a wide range of features exclusively designed to build successful marketing strategies, brands can grab maximum outcomes at lower costs, especially during the holiday season i.e. Black Friday & Cyber Monday. To know more about Novus, book a demo today and connect with our experts.