It’s nearly time for E-Commerce’s yearly Super Bowl, the Black Friday and Cyber Monday weekend! BFCM will give way to Thanksgiving which means businesses are getting fired up in preparation as we speak.

Just last year, 180 million shoppers bought something over the holiday weekend, with customers spending 8.9 billion online on just the occasion of Black Friday. 

Online sales during the BFCM weekend keep beating its own records each year, reflecting the continuous growth of online shopping as more consumers turn to digital channels for their purchases and are ready to swap out traditional brands with D2C options.

Black Friday/Cyber Monday provides plenty of opportunity for e-commerce brands to attract new customers with hefty discounts and unmissable deals, however there are multiple points of consideration. To start with, e-commerce sellers and e-commerce businesses must prepare for the sheer surge in online shoppers during this time, ensuring their operations are ready to handle increases in demand, orders, fulfillment, and higher traffic.

It’s not just about converting customers at this time of year, it’s also about retaining them long-term to nurture deeper relationships–that’s where brands can reap the biggest rewards, beyond the initial surge of interest that shouldn’t die down.

We want to shift our BFCM strategy from being a one-time sales event and acquisition-heavy exercise, to it being an opportunity to drive long-term growth via customer retention. Planning for BFCM sales and the extended sales period of Cyber Week is essential for maximizing results.

Here are the e-commerce analytics you need to understand to get the most out of the shopping holiday, and to rise up the lull that comes after.

1. Know Your Customer Retention Metrics 

Understanding retention ecommerce analytics will help you discover the long-term success of your BFCM campaigns. You can answer questions like do customers “dine and dash” with one-off purchases, or are they coming back again and again? Segmenting customers based on their engagement and purchase history is crucial for tailoring your BFCM marketing and retention strategies.

Getting some insight into the type of customers you attract during the event, what products they’re interested in, and how often they come back will bolster your BFCM strategy long after the event has finished.‍

Understanding retention e-commerce analytics will help you discover the long-term success of your BF/CM campaigns – do customers “dine and dash” with one-off purchases, or are they coming back again and again? 

Getting a deep insight into the type of customers you attract during the event, what products they’re interested in, and how often they come back will bolster yourBlack Friday & Cyber Monday marketing strategy long after the event has finished. 

Cohort Retention Metrics

• Customers Returning Rate: The more customers that return after their initial BF/CM purchases, the better. Tracking repeat customers is a key indicator of long-term value from BFCM, as it shows how effective your strategies are at turning first-time buyers into loyal shoppers. Digging into your Customers Returning Rate will help you understand the value of the customers you acquired during the sales period. Getting a handle on this metric ahead of BF/CM will help you set retention expectations for those new customers.
  ‍

• Repurchase Rate: Knowing when customers come back and purchase again, and then digging into what products and deals compelled them to repurchase is key. This can provide a signal of what you can expect after BF/CM. When might those customers need to hear from you again?  When would they be primed to make their next purchase based on patterns in your customer retention data ahead of the holidays? After the BF/CM buzz has died down, this will help you time your marketing messages to retain those new customers.
  ‍

• Days Since First Order: The first order will be the initial BF/CM order, but this metric shows you how long it’s been since they made that order, so you can create a cadence of messaging post-Back Friday. Just like with Repurchase Rate and Customers Returning Rate, it’s all about knowing when your customers are primed to make another purchase, especially focusing on repeat customers.

Returning Orders Metrics

Did you have a big seller during the BF/CM weekend? Your Returning Orders Metrics will segment sales by top products to give an insight into when customers come back and what products they come back for. 

Rate of One Time to Subscriber 

BF/CM has huge potential for subscription brands to secure subscribers. The Rate of One Time to Subscriber metric tells you the rate at which one-time customers are converting into long term subscribers. If you think of Black Friday as a huge acquisition event for new customers, the next logical step is figuring out the pace at which you expect to convert them to subscribers. Peel pulls data from a variety of the top subscription apps in the Shopify ecosystem. Check out our integrations to learn more!

2. Build Custom Dashboards that Matter

Create a retention dashboard with Peel that will give you an overview of your retention metrics at a glance. Quickly add all the key retention metrics into one handy dashboard that measures exactly what’s going to matter for Black Friday.
‍
Customize your dashboard to include cohort tables, metric tickers (to show just the numbers), or graphics to visualize your chosen metrics. These can include bar charts, line charts, and pie charts to give you an instant snapshot of where your Cyber Monday marketing strategy and Black Friday marketing strategy is at. We’ve also recently implemented new, powerful filtering options on our dashboards so you can get an overview of how you best retain customers.

Providing a place where everyone can access and monitor easy-to-read and visual e-commerce analytics will help keep internal team members and external stakeholders on the same page. Customer support teams can also use these dashboards to monitor real-time data and better assist customers during BFCM, ensuring quick responses and improved customer experience. Stay tuned for our dashboard recipes to come. We plan on deep diving retention and revenue dashboards that will help you gain an advantage after BFCM.

3. Use Audiences to Create Your Ideal Retention Environment 

Audiences has been our most effective customer retention tool to date. It allows you to filter customers based on values like location, products purchased, number of purchases, discount codes used, specific thresholds for metrics like Average Order value (AOV) and Customer Lifetime Value (LTV) and SO much more.

Brands see an average of 30% higher revenue for Audiences they create and re-engage with the right messaging.

You want to create hyper-targeted Audiences with deep filtering, so you can serve the right content at the right time to each new BFCM customer. This hyper-targeting is to secure their long-term loyalty and drive up LTV and AOV over time, not for an immediate sales action. Keeping customers engaged through ongoing, personalized communication is key to turning seasonal shoppers into loyal, repeat buyers.

Use the Audiences feature in three key ways: 

1. Create hyper-targeted segments based on what customers bought, how much they spent, and their behavior with your brand.
2. Push each list directly to Klaviyo or Attentive to start sending laser-focused messaging.
3. Identify and nurture engaged customers for long-term retention and increased brand loyalty.

You can use the Audiences you create as custom filter values for any of Peels 160+ metrics too, so you can see additional views of your ecommerce analytics for each unique segment. This gives you the flexibility to understand more about your Audiences and make better decisions on how and when to engage them with marketing messages.

4. Track Your BF/CM Customers’ Purchasing Journey 

Get to know the customer journey your BFCM customers take after the event wraps. The Purchasing Journey feature on Peel helps trace what your BFCM customers are coming back for in the weeks and months after the holiday weekend by tracking each step of their customer journey.

It’ll illustrate the path between products from their first purchase, to their second, third, and even fourth purchases. This will show you the most popular (or most relevant) paths for customers as they come back for subsequent purchases–along with the average time it takes to come back after each previous purchase.

Knowing the common routes customers take to purchase will inform your Cyber Monday marketing strategy, your Black Friday marketing strategy, and other marketing campaigns, as well as product selection and placement. Leveraging user generated content, such as reviews and testimonials, can also provide valuable insights into the customer journey and help improve future campaigns.

5. Create Customer Tags 

The sky’s the limit with segmentation in Peel. The more creative you get with your customer tags. You can use your Black Friday data and Cyber Monday data to group together like-minded shoppers and identify different types of customers who bought during the weekend. 

Segmenting customers allows you to better target potential customers with relevant offers. For example, you can tag shoppers who used specific codes or who bought certain products and bundles. This is a great way to prep for BFCM, tag customers based on their interests and past purchasing habits to serve them relevant content and product recommendations when the holiday weekend rolls around.

Due-diligence Checks for your BFCM Strategy 

1. Assess your Website Performance before the Rush

Before the shopping frenzy begins, it’s essential to ensure your online store is ready to handle the surge in traffic and maximize sales. A slow or unreliable website can quickly turn eager holiday shoppers into lost opportunities, so take the time to conduct a comprehensive website audit. Check for any potential bottlenecks, optimize images and content for faster load times, and implement caching and content delivery networks (CDNs) to keep your site running smoothly. 

Consider setting up a queue system to manage high volumes of visitors and prevent site crashes during peak hours. By proactively addressing these technical aspects, you’ll provide a hiccup-free shopping experience for your customers and set your business up to capture more sales throughout Black Friday and Cyber Monday. 

2. Leverage Data to build-up your Loyalty Program

The holiday season is the perfect time to turn first-time buyers into loyal customers by leveraging your data to build a powerful loyalty program. Dive into your customers’ purchase history and shopping behavior to identify your most loyal customers and reward them with exclusive perks. This could look like an early access offer to your best Black Friday and Cyber Monday deals, specialized VIP discounts, or even members-only free shipping to encourage repeat purchases. 

Use data-driven insights to personalize rewards and tailor your program to what your customers value most, increasing both customer lifetime value and overall customer lifetime. By tracking the effectiveness of your loyalty initiatives, you can continually refine your approach, ensuring your most loyal customers feel appreciated and are motivated to return long after the holiday rush. A well-executed loyalty program not only drives repeat purchases but also transforms holiday shoppers into lifelong brand advocates.

3. Craft winning BFCM offers with Buyer Insights

Use customer insights to craft BFCM offers that can resonate with your target audience rather than rolling out blanket plans. Analyze your data to uncover which products are most popular, what motivates your customers to buy, and which holiday gifts are trending. 

With this knowledge, you can design everything from limited-time discounts, bundle deals, or free shipping with a minimum purchase ceiling. All these tactics can help increase average order value and drive more sales. 

4. Post-BFCM: After the tide breaks

Once the Black Friday and Cyber Monday shopping frenzy winds down, it’s time to dig into your data and optimize your marketing efforts for even more sales in the future. How to make the discount divers and one-time buyers stay? 

Review your sales performance, website analytics, email campaigns, and social media ads to see what resonated with your audience and what could be improved. Gather customer feedback through surveys or reviews to better understand the customer experience and identify opportunities to enhance customer retention. Use these insights to refine your future marketing campaigns, ensuring you continue to engage loyal customers and encourage repeat purchases. 

Consider rewarding your most loyal customers with exclusive post-BFCM deals or early access to upcoming promotions, further increasing customer lifetime value. By continuously analyzing and optimizing your approach, you’ll not only improve customer satisfaction but also set your online business up for long-term success beyond Black Friday and Cyber Monday.

Bonus Advice: Connect Your Data Sources Now!

If you're already using Peel, make the most of our powerful dashboards and extensive metrics by connecting all your relevant data sources. Consider plugging in information from your: 

• Email marketing platform
• SMS tool
• Google Analytics
• Google Ads
• Subscription Platforms
• Amazon 

If you're not using Peel, you can get a 7-day free trial where you can connect all these datasources and see the full power of automating your ecommerce analytics.

BF/CM will be here before you know it. Start preparing now to make the most of the biggest shopping holiday of the year.

Stay tuned for more Black Friday and Cyber Monday content as we dive into strategies and best practices for brands to increase retention and growth via post-purchase data.

‍