More BFCM strategies focusing on profitability, new customer acquisition, and re-engaging an old database.

  1. Profit-Driven Discounts
  • Smart Discounting: Instead of sitewide blanket discounts, segment your products based on margin. Offer deeper discounts on higher-margin items or bundled products. This ensures that you’re not eroding profits with unnecessary discounts.
  • Dynamic Pricing: Consider implementing dynamic pricing for fast-selling items to maximise profitability. For example, as stock levels decrease, adjust pricing to reflect demand.
  • Exclusive Bundles: Create exclusive product bundles that seem like a great deal but are carefully priced to ensure profitability. Include complementary, slower-moving items to clear inventory without cutting deep into profits.

 

  1. New Customer Acquisition with High-Value Offers
  • Lead Magnet Offers: Prioritise customer acquisition with value-first deals like “free gift with purchase” or “exclusive first-time buyer discount.” This helps attract new customers without overly discounting your entire catalog.
  • Referral Campaigns: Incentivise your existing customer base to refer friends and family during BFCM. Offer both the referrer and the new customer a special discount or gift, maximising your reach while ensuring conversion.
  • Early Access for New Customers: Offer new customers early access to BFCM sales through a sign-up landing page. This will also help build a robust email list for post-BFCM nurturing.

 

  1. Re-Engage Old Customers with Personalised Offers
  • Segmented Email Campaigns: For your existing database, create personalised offers based on their previous purchase history. For example, if they bought shoes last year, offer them exclusive deals on new arrivals or complementary accessories like socks.
  • VIP Early Access: Give your loyal customers early access to sales, and include an additional discount tier for them. Position this as an exclusive, appreciation-based offer to increase conversions and brand loyalty.
  • Lapsed Customer Re-Engagement: Identify customers who haven’t purchased in the last 6-12 months and create a special, reactivation campaign. Entice them back with a personalised message and a unique offer like “We Miss You, Here’s 20% Off Your Next Purchase!”

 

  1. Optimise Lifetime Value (LTV)
  • Post-BFCM Retention Strategies: Focus on increasing the customer’s LTV with post-BFCM offers. Send follow-up emails offering upsell opportunities or personalised recommendations based on their recent purchase.
  • Subscription Models: If relevant, incentivise customers to subscribe to a service (e.g., product replenishments or memberships). Offer BFCM as the only time of year where they get discounted access to these benefits.

Loyalty Program Push: Encourage new and returning customers to join your loyalty program during BFCM by offering double points for purchases during the sale. This not only boosts sales during the period but also incentivizes future purchases.

  1. Profit Maximisation Through Customer Segmentation
  • Tiered Offers Based on Spending History: For high-spending customers, consider offering a luxury BFCM experience with premium, higher-margin products that aren’t heavily discounted. This appeals to their buying habits without compromising profitability.
  • Cart Value Triggers: Encourage higher cart values by offering incremental discounts. For example, offer 10% off for orders over $100, 15% off for orders over $200, and so on. This increases the average order value (AOV) while maintaining profitability through controlled discounting.
  • Target Upsells and Cross-Sells: Use BFCM as an opportunity to re-engage your old database by recommending relevant add-ons or upgrades to previous purchases. Position these as “exclusives” for returning customers.

 

  1. Profit-Boosting Customer Acquisition Strategies
  • Paid Media Focused on High-Lifetime Value (LTV) Customers: When acquiring new customers during BFCM, focus your ad spend on audiences who are more likely to have a higher LTV based on demographic and behavioral data. Create lookalike audiences of your most valuable customers.
  • Interactive Campaigns: Use interactive content like quizzes or polls to engage potential customers while capturing valuable data for future retargeting. For example, create a product finder quiz to direct new visitors to the best-suited products based on their preferences.
  • Exclusive Partnerships and Collaborations: Partner with complementary brands to tap into new audiences. Create co-branded bundles or offer each other’s products at a discount, expanding your customer base without the need for heavy discounting.

 

  1. Profit-Preserving Payment Options
  • Buy Now, Pay Later (BNPL): Leverage BNPL services like Afterpay or Klarna to make higher-value purchases more attainable without reducing prices. This can drive higher AOV without cutting into margins.
  • Pre-Sale Reservation: Encourage customers to reserve high-ticket or limited-stock items before BFCM. This can generate buzz and early cash flow, reducing the need to heavily discount these items during the sale period.

 

  1. Data-Driven Decision Making
  • Utilise Real-Time Analytics: Closely monitor customer behavior and ad performance during BFCM. If certain products or campaigns perform better than expected, be agile and allocate more budget or increase stock to maximise revenue.

Profitability Forecasting: Use tools like Google Analytics or third-party apps to predict profitability based on traffic, conversion rates, and average order value. Focus on optimising marketing spend towards the most profitable products and customer segments.

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