The average American will buy 14 gifts this holiday season, and nearly half of all shoppers will also purchase something for themselves in the process. How do you make sure your brand gets at least a fair share of that spending?
Many brands put all of their holiday planning focus on new customer acquisition. But where do most of a brand’s profits come from? That’s right: existing customers. Here are three reasons you should give them more attention this holiday season.
1. Your customers want EASY.
What’s easier than shopping your trusted favorite brands? Capitalize on the natural human tendency to stick with the tried and true. Start by engaging your existing customers a bit earlier than usual. We’re not suggesting that you blast “Deck the Halls” in October — just plant the seeds of interest before people normally start drafting their shopping lists.
Highlight the breadth of your product range, including items that some customers might not ordinarily buy for themselves but might buy as gifts. What are your most popular items for those hard-to-buy-for demographics like dads and grandmas? Also remind shoppers about the many convenient options you offer for shopping, delivery and returns.
Twenty-three percent of consumers claim to do the majority of their holiday shopping before Thanksgiving. Don’t let them get away.
2. You want EASY.
With a customer identity solution in place, targeting your known customers by email is so simple. The key to success in a jam-packed holiday season is making sure you’re individualizing the message that each customer receives. You know so much about your existing customers already that you can easily show them more relevant messages than most of your competitors can. Plus, you already have the tech in place to individually target your existing customers through multiple channels, so you can surround them with customized messages on your website, app alerts, text messaging and online ads of all kinds.
3. You want better odds. Existing customers can tip the scales in your favor.
- Prior buyers are more likely to buy again. While just 27% of first-time customers make a second purchase, 45% of two-time buyers make a third purchase and 54% of three-time buyers make a fourth purchase.
- Returning customers spend more. In the fourth quarter of 2015, returning visitor transactions comprised 48% of all U.S. e-commerce sessions and accounted for $5.3 billion in spending, almost double what new shoppers spent in that time period.
With all of these factors in your favor, the conclusion is obvious: holiday 2017 success starts with your existing customers. They’re the gift that keeps on giving.