After the Black Friday season is over, it is important for business owners to analyze their results to evaluate the success of the biggest shopping event of the year.
One of their main tasks is to verify if shoppers that purchased on Black Friday (or during Black Friday week) will continue to be a source of profit in the long run, or if they will remain one-time buyers. In fact, promoting huge discounts on Black Friday can be a waste of money if they don’t ensure they continue to make a long-term profit from those customers.
After all, 100% of the discounts offered will be subtracted from the bottom line. Black Friday could result in particularly expensive marketing, since businesses sustain both advertising expenses as well as the cost of discounts at the same time.
Analyze Data with Clerk:
With Clerk, you can easily identify your Black Friday shoppers and continue to monitor the total value of that customer segment over time.
1. Create the Customer Segment with Clerk’s Audience
With Clerk’s Audience you can easily find Black Friday customers with just a few clicks.
For example, you can create an Audience of customers that purchased exactly on Black Friday, by setting the parameter “Made an Order On” = date of Black Friday.
Clerk’s Audience - Customers that made an order on Black Friday
In the case where you ran Black Friday discounts across a week or more, you can select a longer timeframe by using the parameter “Made an Order Between”.
Clerk’s Audience - Customers that made an order on Black Friday’s week
Audience also lets you visualize how the number of Black Friday shoppers evolves year after year.
While you create the Audiences, Clerk will calculate the number of customers that belong to that segment in real-time.
In the example below, we have created an Audience of customers that made a purchase during Black Friday in 2020.
Clerk‘s Audience - Customers that made an order during the 2020 Black Friday week
For the same shop, the number of customers that purchased during the 2021 Black Friday rose to 562, an increase of almost 20%!
Clerk’s Audience - Customers that made an order during the 2021 Black Friday week
2. Monitor the Customer Segment’s Value over Time with Clerk’s Customer Analytics
Once you have created your Black Friday Audiences, you will be able to monitor their value over time, by tracking metrics like lifetime value, revenue per year and average order value.
You can also visualize how this customer segment compares to the overall average of your customers.
Clerk’s Customer Analytics - Black Friday Audience
Clerk’s Customer Analytics is a great tool that lets you understand the value of Black Friday for your webshop and most importantly, to make data-informed decisions for your next season.
You may for example discover that it is profitable to start more aggressive marketing campaigns aimed at acquiring new customers during Black Friday. Or conversely, it is more efficient to focus your attention on other customer segments.
Finally, you can use the collected data to create personalized content, specifically designed for this segment, which ensures that you bring these customers back to the website once Black Friday is over.
Want to learn more about how to easily improve your conversion rate?