Retention Revival: Strategies for Reconverting BFCM Buyers
Black Friday Cyber Monday (BFCM) weekend is often the busiest time of year for ecommerce brands, with customers around the world anticipating massive savings and exclusive deals ahead of the holiday season.
According to Shopify, merchants reached a record $9.3 billion in sales in 2023 - a 24% increase from 2022 - with over 61 million customers purchasing from Shopify-powered brands worldwide. Better yet, over 55,000 brands had their highest-selling day ever.
While all of that certainly sounds impressive, what exactly happens next?
Far too many brands start losing their momentum after the holidays are over. This leads to missed opportunities for more revenue, repeat purchases, and higher retention rates, and increased chances of higher return rates, customer churn, and ad spend without meaningful results.
There are tons of BFCM resources out there - but this one is here to bring you the best advice from industry leaders for making the most of the holiday season.
Customers acquired during BFCM are the least valuable customers you'll acquire all year. We’re here to help you change that.
In Retention Revival: Strategies for Reconverting BFCM Buyers, we teamed up with our friends at Repeat, AfterShip, Gorgias, Attentive, Irish Titan, and Roswell to share tactics for turning one-time buyers into repeat customers.
Here's a sneak peek:
A picture might be worth a thousand words, but how what about in dollars? When looking at our user data, we found that customers’ photos on PDPs drove almost $11 million in revenue during last year’s BFCM alone, accounting for 13.4% of total associated revenue for the entire year.
Interestingly, while brands think collecting product reviews is important - in an earlier survey, they ranked reviews at #2 in their BFCM tech stack, right behind email marketing - they don’t see nearly as much value in collecting photos & videos. In fact, when asked about their BFCM goals, collecting user-generated content ranked dead last. But why not do both?
Here’s why you should ask for a photo or video with that review:
- People process visual information faster than text. No matter whether the review is two sentences long or twenty, images are quicker to understand and say more with less. 85% of customers prefer photo reviews over text reviews.
- Photos & videos are trust signals. It’s easy to claim something looks good or fits well without any proof. Having visual evidence helps win people over: 60% of customers think UGC is 3x more authentic than other content.
- Your best reviews can be your best advocates. Reduce costs while driving more sales by spinning UGC into ad campaigns, social posts, and visuals for your affiliate and ambassador programs. Photos can boost review conversion rates on PDPs by 106%.
Get your copy of our latest ebook to see the full picture and discover how to:
- Build and optimize your post-BFCM workflows and ad strategies
- Drive repeat purchases with personalized content and experiences
- Nurture customer relationships to retain revenue, LTV, and loyalty
