For seasoned merchants and salesmen, holiday season can be highly lucrative, if they play their cards right. Some might say that regular customers need more attention than the holiday customers. But that is partially true. Statistically, Holiday shoppers comprise 24% of annual revenue in retail categories like electronics and apparel.
Holidays are a great time to shop and give gifts, and new customers are just around the corner!
According to Magento Analytics’ Holiday Benchmark Report, there is a simple way to convert your holiday shoppers into regulars. You need to remarket! If you think that holiday customers are just occasional spendthrifts, you might want to reconsider your holiday marketing strategy. Basically, you can retain your one-time holiday customers and boost annual income.
Can You Grow Your Customer Base During Holiday Season?
As per the report, you can acquire up to 59 percent more customers. If you are well invested in your marketing campaigns, and deploy clever marketing techniques, you can enjoy long term success. The findings of the report also state that, on an average, a commerce business acquires 23.8 percent of its new customers during the holiday season.
You can always fine-tune your customer acquisition and retention spending plans to start with your new holiday marketing plans.
Do Holiday Customers Come Back?
If you read the report, you will find that holiday customers do come back to the store and make a second purchase 27% of times. On the other hand, the non-holiday customers make the second purchase 30% of the time. Using remarketing strategies, you have an opportunity to convert your holiday shoppers into regulars.
The secret lies in tapping the potential of your analytics. Once you identify the source of your valuable holiday customers, you need to invest marketing dollars into the highest-impact channels. Hire Magento Developers to help you do the same.
When Is The Best Time To Remarket To A Holiday Shopper?
The idea is to – hit them quick and hit them hard! According to the report, if you want to increase your annual revenue, you need to remarket to the holiday shoppers before the holiday season ends. Of all the holiday customers, 38.7 percent made their next purchase in the same holiday season. And 42.4 percent of customers made their next purchase in the following off-season. What’s the takeaway?
You need to find the best time to email your existing customers and reactivate the with crafted holiday campaigns.
Are Holiday Customers Less Or More Valuable Than Other Customers?
Well, new customers are worth less, but considering the discounts that drive many holiday acquisition strategies, it’s not by much. Even when the Customer Lifetime Value (CLV) was low, the holiday report found only a 13% drop in CLV during the holiday period.
Provide your team with centralized goals to help drive holiday performance.
How Does Your Customer Data Compare To The Holiday Benchmark?
You can find out how your own customer data stacks up to this industry data with Holiday Dashboard from Magento Analytics so that you can make smarter decisions.