By Harry Hanson-Smith, Vice President UK&I and Northern Europe at Dynamic Yield by Mastercard
As the Golden Quarter approaches, marketers are busy preparing their strategies for one of the most crucial retail events of the year: Black Friday. The stakes are incredibly high, with online retailers in the UK generating approximately £8.5 billion in sales last year. Projections indicate that this number will continue to rise, making it essential to approach the holiday season with well-informed strategies that can help brands stand out amidst the competition.
Marketers across various industries face the challenge of effectively navigating the complexities of Black Friday. Gaining insights into effective personalisation strategies is vital for creating campaigns that resonate with consumers and drive sales. Here, Harry Hanson-Smith, Vice President UK&I and Northern Europe at Dynamic Yield by Mastercard, gives his top recommendations to help marketers prepare for the upcoming holiday season.
Analyse Last Year’s Data
To build a robust campaign, brands should start by examining the data from last year’s Black Friday. Understanding which channels drove the most traffic and how customers interacted with content is crucial. Evaluate key performance indicators (KPIs) such as average session time, page views, and purchase behaviour. Identifying top-performing channels and personalisation tactics will enable brands to allocate resources more effectively.
For example, consider the following KPIs:
- Average Session Time: How deeply are customers engaging with your site?
- Average Page Views: Are customers merely browsing, or are they making purchases?
- Average Order Value: Are customers responding to incentives like free shipping or product bundles?
- Purchases Per User: Are personalised product recommendations driving sales?
By leveraging these insights, brands can refine their strategy and focus on the channels that yield the best results.
Segment Your Audience Wisely
Understanding a brand’s customer base is more crucial than ever during the holiday season. While many site visitors typically shop for themselves, a significant number will be looking for gifts for friends and family as Black Friday approaches. This shift in intent requires a nuanced approach to audience segmentation.
One effective strategy is to gather zero-party data—information customers willingly share about their preferences. Consider deploying quizzes or engaging with personal AI assistants to capture user intent, helping to discern whether shoppers are purchasing for themselves or others. For instance, if a customer indicates they are shopping for someone else, marketers can temporarily segment them into an audience focused on gift-giving.
This audience may have different behaviours, such as high bounce rates and low engagement, so businesses should adjust their personalisation strategy accordingly. Implementing attention-grabbing overlays with reviews and testimonials can encourage gift shoppers to remain engaged and help them feel confident about their choices. Additionally, incorporating personalised product recommendations, such as highlighting “best sellers” or “most-loved” items, can guide them toward popular options. This approach ensures that even gift-focused shoppers see relevant suggestions, enhancing their experience as they browse for the perfect gift.
Empathise with Customers
With the deluge of promotions and messages inundating customers’ inboxes during the holiday season, brands must empathise with their audiences. Over-communication can lead to unsubscribes, so it’s crucial to develop a channel prioritisation strategy. Aim to provide meaningful interactions rather than bombarding customers with sales pitches. A balanced approach, using customer preferences and engagement history to prioritise channels, helps brands stay connected without overwhelming their audience.
Beyond Retail: Applications for Other Industries
The lessons learned from Black Friday aren’t limited to retail; other industries can also benefit from these strategies. For instance, financial institutions can enhance their holiday approach by helping customers identify products or services aligned with their spending habits. Grocery brands can engage customers around holiday meals by highlighting popular food items that are low in stock. Even travel companies can adopt personalised, triggered emails to inform customers of price drops as they book accommodations for the holiday season.
In essence, Black Friday presents a unique opportunity for marketers across various industries in the UK to refine their strategies and engage customers in a meaningful way. By analysing past data, segmenting audiences effectively, empathising with customers, and tailoring discovery experiences, brands can create personalised interactions that resonate with shoppers. The holiday season is a critical time for businesses, and those who leverage these insights will be better positioned to thrive in a crowded marketplace.
