Black Friday: Focusing on Loyalty, Retention & Premium Experiences

1. Exclusive Loyalty Perks and VIP Offers

Use Black Friday to give your loyalty members and VIP customers the red carpet treatment. Reward them with perks that foster long-term loyalty and drive repeat purchases.

Strategy in Action:

• Exclusive VIP Bundles: Create premium bundles that are only available to loyalty program members. These bundles could include exclusive products, early access items, or limited-edition merchandise, giving loyal customers more reason to engage with your brand.
• Personalised Thank-You Gifts: Offer personalised thank-you gifts to your VIP customers. For example, offer a free accessory or exclusive product that is relevant to their past purchases as a surprise after checkout.

2. Maximise Average Order Value (AOV) with Smart Bundling

Bundle products in a way that provides value to the customer while maximising profitability.

Strategy in Action:

• Progressive Discount Bundles: Offer progressive discounts based on the number of items in the cart. For example, “Buy 2 items, get 10% off; buy 3 items, get 15% off.” This incentivises customers to add more items to their cart, thereby increasing AOV.
• Limited-Time High-Value Bundles: Introduce high-value bundles with a mix of popular and complementary products, targeted at your top customers. Include a small free gift that has high perceived value but is cost-effective.

3. Checkout Optimisation for Maximum Conversions

Make sure your checkout process is optimised for speed and convenience. The more seamless the checkout, the higher your conversion rates.

Strategy in Action:

• One-Click Checkout for Returning Customers: Implement one-click checkout options for returning customers, especially loyalty members. Reduce the friction of re-entering information, leading to quicker conversions.
• Transparent Upsells at Checkout: During checkout, offer a clear upsell opportunity like an extended warranty or an exclusive add-on at a discounted rate. This could increase profitability without losing the customer’s attention.

4. Profit-Driven Promotions Over Deep Discounts

Focus on promotions that don’t erode your margins and instead use value and exclusivity as drivers.

Strategy in Action:

• Time-Limited Premium Access: Instead of offering deep discounts, offer a premium service or product at the regular price for a limited time only. Emphasise exclusivity, such as “Limited-time premium membership access available on Black Friday only.”

Customer Milestone Rewards: Reward customers for hitting specific milestones, like spending a certain amount over the year. Offer exclusive Black Friday rewards, such as special discounts, products, or services that honor their loyalty.