Why You Should Build a Customer Segment with Black Friday/Cyber Monday Shoppers Today to Grow Your Business
Customer acquisition for ecommerce businesses can be costly and time-consuming. That’s why it’s crucial to make sure when you get a new customer, you make them a repeat customer.
But sometimes that’s not so easy to do. Take Black Friday and Cyber Monday (BFCM) customers, for example.
Nearly 70 percent of first-time BFCM customers haven’t made a purchase since their initial order, according to new research from Klaviyo.
It’s possible these customers are more price sensitive than others given the sales ecommerce businesses typically run on BFCM. But by failing to try to turn these customers into repeat buyers, you could miss a major opportunity to cost-effectively grow your business.
That’s where segmentation comes in.
Segmentation is when you group contacts together based on a specific set of conditions. Unlike lists which are static and grow as people subscribe to your newsletter or are manually added, segments are dynamic and grow or shrink based on a certain set of conditions. By building a dedicated segment of customers, you can proactively engage with them all year.
If customers who first made a purchase during BFCM are historically unlikely to buy from you again, having a dedicated segment will make it easy for you to specifically engage these people with targeted messages on an ongoing basis. For example, you could serve them more substantial or specific offers that may help them go from one-time purchase to repeat customer.
Here’s how you can create a dedicated customer segment in Klaviyo with just a few simple clicks.
- Login to your Klaviyo account
- Click “Lists & Segments” on the left navigation
- Click “Create List / Segment” in the upper right-hand corner
- Next, choose to create a segment
- Provide a clear name to identify this group of customers (such as “2018 BFCM First Active Purchasers”) and click “Create Segment”
Select the following conditions to finish building out your segment
- If someone is or is not a member of a list > is > select your email list
- Next click “and”
- What someone has or has not done > has > placed order > at least once > between dates > enter the BFCM date rage (for 2018 we put in November 22-26)
- Next click “and”
- Properties about someone > first active > is between dates > enter the same date range that you selected above
- Click the blue “Create Segment” button and you have your segment
One important thing to remember as you’re creating segments: creating them alone won’t drive sales. You have to engage with customers in these segments on an ongoing basis for them to be more likely to make a purchase with you again.
Data shows the cost of customer acquisition can spike as much as 25 percent during the holiday season. Prepare yourself for BFCM success by taking a few minutes to build out a segment of first time BFCM customers and send a message to them on a quarterly basis. A quarterly message can be as simple as picking one holiday each quarter to send a themed message around. By doing this, you’ll set your business up for cost-effective growth during the holidays and the year ahead.
Read this report to learn more about the value existing customers bring to your business during Black Friday/Cyber Monday.Back to Blog Home