If you’re a brand with a strategic, always-on approach to loyalty and customer success, Black Friday and Cyber Monday (BFCM) won’t be the ‘do or die’ sales event it is for others. But you do have to be in it to win it, and BFCM is fast becoming the apex of the retail calendar.
In 2023, Australian Shopify merchants rang up a record-breaking $9.3 billion in BFCM sales, a 25% increase on the previous year, so chances are high that the upward trend will continue. Future Publishing Australia’s inaugural Consumer Confidence Report 2024, published last month, found that BFCM has overtaken Christmas as the biggest sales event on the retail sales calendar and that half of all Australians surveyed were planning to spend in BFCM sales events this year.
Black Friday may be around the virtual corner, but for brands, there is still time to capitalise on the hype. Here are four actionable tactics – rooted in profitability, creative discounting, thoughtful experiences, and customer retention – to help your business boost BFCM success beyond the sale.
1. Focus on profitability, not revenue
While the potential for a short-term cash injection is enticing, prioritising profitability over revenue will ensure BFCM doesn’t undercut long-term growth. Many brands fall into the trap of deep/eternal discounts, which jeapordises profit and risks diluting brand value. A big-picture view of BFCM as a fully integrated part of your annual strategy will counteract this.
Australian skincare brand Alpha-H is a great example. After record-breaking sales during COVID in 2020 and 2021, the brand adjusted its approach in 2022 to focus on profitable growth. They reduced the frequency and depth of promotions, ensuring their direct-to-consumer channel complements their retail channels. For BFCM, they implement tailored strategies for Alpha-H.com and participating retail partners, such as Adore Beauty and Cult Beauty, as well as salons and clinics, aligning each retail touchpoint with customer preferences and long-term growth objectives. This allows them to build profitable momentum throughout the season rather than focusing solely on a short-term sales spike.
Try this now: Analyse and evaluate how each of your discounts or sales tactic aligns with your brand’s long-term profitability goals and integrate your findings into planning for 2025.
2. Introduce creative, value-driven discounts
Over-reliance on blanket discounts risks making BFCM feel transactional rather than exclusive, potentially alienating your most loyal customers. With 86% of Australians spending more time researching purchases, and 91% looking out for deals more than ever, creative discount strategies that add value for – and show you understand – your audience are bound to be more effective.
LEO LIN’s released their Bridesmaids collection in August, generating buzz, a new customer segment, and an organic opportunity for non-discounted related acquisition in the lead up to BFCM.
‘Buy-to-unlock’ discounts, giving customers access to exclusive offers or discounts via SMS opt-ins, surveys, or reaching loyalty milestones, can also drive sales while enhancing customer engagement.
Try this now: Install a gated discount offer or reward to elevate the BFCM experience beyond the stock-standard sales push.
3. Personalise ‘thoughtful’ interactions
Moving beyond the purely transactional, personalised experiences – early access to a new collection for loyalty members or high-value customers, for example – can create memorable touchpoints that reflect customers’ wants and needs and reinforce brand loyalty.
Jones Road Beauty achieved remarkable results last BFCM by introducing targeted messaging and segment-specific communications, which allowed the brand to sell more in the first 30 minutes of BFCM than they had over the entire weekend the previous year.
Try this now: If you haven’t already, segment your BFCM messaging to appeal to new customers and to show long-time supporters that their loyalty is appreciated and recognised.
4. Prioritise retention to maximise long-term impact
BFCM’s true value isn’t limited to short-term sales; it’s in retention . By leveraging loyalty programs and data-driven insights, you can create customer journeys that engage far beyond BFCM.
Loyalty programs encourage repeat purchases and increase the average order value. Identifying high-value customers, even at this stage, will help you tailor BFCM offers to those who show the most potential for long-term value.
Try this now: Embed a loyalty program/offer directly into your checkout process to increase engagement beyond that initial sale.
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Ready to play smarter, not harder? Here are four bold strategies to make your biggest sale season your smartest yet Expert, Loyalty Dynamic Business
