How do you like your eggs?

In the last edition, I covered a sense check on whether you should participate in Black Friday/Cyber Month and five foundational elements if you decide to do so. Read here to refresh

I strongly believe in not putting all your eggs in one basket. In this context, that means not relying on most of your sales to come through during Q4 because of the Black Friday/holiday season. That’s a lot of pressure!

November can be an opportunity to do something different to stand out as a brand and use it as a starting point for longer-term brand building without compromising profit margins.

1. Slow November. Deciem has been doing this for a few years, and other brands are also participating. The idea is to go against the sense of urgency to buy certain products at discounted prices during a limited period and instead have a flat discount across all items so people can take their time to shop. This angle is mainly focused on the messaging because, as I said in the previous edition, the sales have become a month-long thing anyway, except the difference here is it’s site-wide and not just on select items. I like this approach because it promotes more intentional shopping, cuts through the noise communication-wise, and will more likely reduce return rates during this season because people are not impulsively buying items they probably don’t need.

2. Focus on rewarding existing customers. With so many offers and options, consumers will be overwhelmed with choices. Wouldn’t it be easier to buy something they know and like instead? Identify your top customers from the past year and send them a special code to use during November and December to reward their loyalty. This engages an existing base that’s much easier to convert during the season and can turn them into advocates for your brand in the long term.

3. Add value. Instead of discounting, add something to what they’re buying. If you sell products, add a gift to every purchase on different buying brackets. This is mostly targeted at those already in-market for a product- Apple does this every year, calling it a “Shopping Event”- converting those in-market for a new phone with a tiny push that adds value without compromising brand perception is a strategic move on their part.

   If you’re a SaaS business, offer an extra month or two free on a year-long subscription. This preserves the perceived value of your product/service and encourages customers to return well after the sales season. If they have had a great experience throughout that time, they will be willing to pay the full price when it’s time to renew. Also, consider using existing customers to refer others to the offer and reward them for every successful conversion; it’s a win-win-win for all involved.

The user journey, consistent communication, and building on the momentum from this season to future sales periods are still important for the above strategies to succeed during November and beyond. Brands that rely on sales periods to generate most of their revenues should be very concerned because people do not see the full value of the offering, and the brand proposition isn’t strong enough to pull people in. But I digress. I’ll talk about brand value and brand building in future editions of The MKTG Detox.

Happy Strategising,

Nagham

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