With Black Friday right around the corner, do you know which of your products are going to be flying off the shelves come November 29th, and what must-have deals will be a guaranteed hit with your customers? With everyone searching the web for the biggest bargains, being clued up on what your customers are going to be looking for can keep you one step ahead of the competition and make sure you have a Black Friday to remember.
We’ve looked at how to get you digital marketing up to speed, and even shown you how to choose the best deals, but it’s easy to run head first into the Black Friday frenzy without looking at the bigger picture. Retailers are increasingly starting to turn to data and analytics to help them better understand their customers and create a more engaging Black Friday experience. Let’s take a look at four ways data can help.
1. Get to REALLY know your customers
Most businesses think they understand who their customers are, but how well do you really know them? From tracking shopping behavior on your site, to exploring what they’ve bought in the past, to the feedback they’ve left – all of this precious data can be mined to start creating detailed profiles about your customers. Where have they been? What have they bought? Why did they buy it? Who did they buy it for? Once you understand all this, you can start hitting them with tailored promotions and offers you know are going to hit the mark!
Kids suitcase brand, Trunki, started asking customers to review their products, but soon noticed something strange. It turned out there was a surprising number of grandparents, not parents, that were buying them as gifts. This unexpected insight meant Trunki could shift their marketing focus during key sales periods, such as Black Friday, to target this newly discovered audience and ultimately sell more suitcases.
2. Find what they’re searching for
With consumers 5x more likely to look for products in search engines than going straight to your site, understanding what they’re looking for can tell you a lot about the products that might be a hit when Black Friday rolls around.
Search trend data is being used by retailers to help them understand when customers are interested in buying certain products. By splitting your products into ‘seasonal’ and ‘year-round’, you can start to analyse when people start thinking about buying certain items and then create strategies and promotions to run at the right time.
3. Learn from the past
The chances are you’ve been here before, so why not take a look back at how you did in previous years. What sold well? What were your most popular product pages in the run-up to the big day? Which of your stores were the busiest? There’s a lot to be learned from the past that can help you prepare.
Sales forecasting is as much an art as it is a science. After all, there’s no guarantee the trends of years gone by are going to repeat themselves, but it does give you some indication of what’s likely to happen. Use all this info to make sure your store rooms are well stocked, your most popular stores are well staffed, and your marketing strategy is focused on pushing people towards your best-selling products.
4. Ask them what they want
Showing off those precious star ratings and glowing reviews next to your products over the Black Friday weekend is a must – but did you ever think to use all that feedback to dig a little deeper into what your customers are asking for?
Every review tells its own story. Knowing what products your customers like and why, or what it is about your service that makes you stand out above the rest, can help you create more engaging campaigns and promotions that focus on the stuff that you know matters most to them. The not so good stuff? Take this as your early warning to get it sorted, so by the time Black Friday comes around you’ve created a seamless shopping experience for your customers, from clicking that ‘buy’ button to the time it shows up at their door.
Haven’t got the time to read through every review? AI can do it for you. At Feefo our Performance Profiling tool organizes all of your feedback into the most positive and negative areas to show you what you should be promoting and what needs your attention.
Create tailor-made shopping experiences
The more you know about your customers, the easier it is to create a valuable and enjoyable shopping experience that’s built around them. 79% of customers want retailers to send them personalized offers based on what they’ve bought before.
Data is your gateway into the minds of your customers, but it’s important to remember that at the end of the day they’re people too – not just numbers on a spreadsheet. Collecting data needs to be done in the right way. You need to build trust with your customers, make sure you’re collecting data in the right ways and using to make their experience with your brand better.
Feefo gives you all the tools you need to start building these relationships and help you uncover what shoppers really want from your business on Black Friday. To learn how customer reviews can help you, get in touch today.