Develop A Strategy to capitalize on the Holiday Sales Frenzy All Year Long?
When Black Friday and Holiday Sales are outstanding, be ready to implement a strategy to keep all those new customers all year long. From personalized loyalty programs to innovative rewards plans, you can capitalize on the holiday sales frenzy all year long. Here’s how.
In today's dynamic e-commerce landscape, the holiday sales frenzy is no longer confined to a specific time of year. With consumers becoming increasingly voracious in their shopping habits, it's crucial for brands to adapt and develop strategies that foster customer loyalty and boost sales year-round.
This requires a strategy that rewards your buyers and entices them to continue to purchase your fashion brand. It’s important to build customer appreciation and brand loyalty that lasts season after season.
Your program may require a departure from the traditional points-based rewards system. It might be more effective to more towards more personalized, value-driven approaches.
Let's explore how brands can leverage loyalty programs effectively. We can draw insights from the evolving landscape of direct-to-consumer (DTC) businesses. Successful programs that exist can give us the inspiration to develop strategies that work for your startup fashion brand.
Personalized Loyalty Programs:
Traditional points-based programs have become ubiquitous and are no longer unique enough to stand out in a crowded market. Fashion brands must now focus on personalizing their loyalty initiatives to cater to their specific target audience.
For instance, rather than bombarding visitors with immediate discounts, fashion brands, like Catch, are exploring multi-brand loyalty programs that allow customers to pool their points. This approach not only differentiates the brand but also encourages a sense of community among shoppers.
Eliminating Enrollment Burdens:
How a brand communicates its loyalty program is crucial in building an emotional connection with customers. Brands, like Tayground, are simplifying enrollment by automatically including repeat customers in their rewards program.
Founder Taylor Ryerson goes the extra mile by sending personalized emails to invitees. This can create a sense of exclusivity and appreciation. By offering thoughtful perks like free shipping and custom gifts, Tayground has seen a substantial increase in customer retention and referral rates.
Innovating Point-Based Rewards:
While point-based programs are widespread, innovative approaches can set brands apart. For example, beauty brand Ourself, incentivizes engagement beyond purchases.
This program offers points for non-purchasing activities like leaving reviews or following on social media. By extending rewards to subscription members, Ourself boosts customer loyalty and drives additional revenue. This approach highlights the brand's commitment to customer satisfaction and engagement.
Emphasize Product Access Over Discounts:
E-commerce jewelry label, Jencks Howland, implemented an innovative rewards program by offering early access to product drops. This is in addition to traditional points for purchases.
By prioritizing access to unique, high-quality fashion designs, the brand aims to attract customers who appreciate craftsmanship over bargains. This shift in focus from discounts to exclusivity not only protects profit margins but also cultivates a feeling of exclusivity. This creates a community of dedicated customers.
In a world where consumers are constantly seeking the best deals, it's imperative for brands to adopt innovative approaches to loyalty programs. Relying solely on holiday sales frenzies is no longer sustainable.
By personalizing initiatives, simplifying enrollment procedures, innovating point-based rewards, and emphasizing product access, brands can transform holiday shoppers into a loyal customer base throughout the year. This ensures sustained revenue and also sets the brand apart in a fiercely competitive market.
As we navigate the ever-changing e-commerce landscape, it's crucial for brands to stay ahead of the curve by reimagining their loyalty programs. Personalizing initiatives, simplifying enrollment, innovating point-based rewards, and emphasizing product access can build a loyal customer base for a startup fashion brand. The holiday sale boom is not simply a once a year event. With breakthrough retention strategies and programs, you can transform new holiday shoppers into loyal buyers of your fashion brand all year long.
What’s your breakthrough fashion concept? If you feel you have an idea that may have some promise, schedule a free strategy call and let's talk about it. You may have discovered a niche and a fashion product that could become a successful start-up and the fashion business of your dreams.
Stuck on product Production? At V.Mora we can help you through the entire production process from designing, to sourcing and so on through our Production Development services. If you are in need of the following Development and Production services:
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About the Author
Fashion expert, Allison Howmann, graduated from the Fashion Institute of Technology where she majored in Fashion Design and Minored in International Trade and Marketing. She has spent over 6 years in the NYC Fashion Industry utilizing her Design and Marketing skills. Allison has worked with several successful brands to help create their winning fashion development, small business operations, and sales and marketing strategies. You can find her creating original content on the V.Mora blog and the V.Mora Instagram.
