Unlocking Black Friday and Cyber Monday Success with Third Love
Table of Contents:
- Introduction
- Consumer Spending Shifts to E-commerce
- Projected Rise in E-commerce Sales
- Continued E-commerce Expansion Influencing Black Friday and Cyber Monday
- Mobile Purchases on the Rise
- Early Outreach Strategies for Black Friday and Cyber Monday
- Importance of Personalization in Black Friday and Cyber Monday Initiatives
- Engaging Customers for Long-Term Loyalty
- Third Love's Brand Story and Purpose
- Third Love's Advertising Strategy Targeting Podcast Listeners
- Creating a Sense of Community through Inclusivity and Body Positivity
- Boosting Brand Community with Customer Reviews
- Utilizing Yappo's Loyalty Solution: Hooked
- Black Friday and Cyber Monday Strategies of Third Love in 2020
- Shift in Strategy for Black Friday and Cyber Monday in 2021
- Exciting Future Plans for Third Love
- Final Advice for Brands Seeking Growth and Innovation
Introduction
Welcome to Yappo's Destination Online event: Black Friday Cyber Monday Strategy. In this article, we will delve into various aspects of the event, including consumer spending habits, the projected rise in e-commerce sales, and strategies for Black Friday and Cyber Monday. Furthermore, we will explore the brand story and purpose of Third Love, discuss their advertising strategy targeting podcast listeners, and highlight the importance of inclusivity and body positivity in building a brand's community. Additionally, we will touch upon the benefits of customer reviews, the utilization of Yappo's loyalty solution, and Third Love's past and future strategies for the holiday season. Stay tuned for valuable insights and advice for brands aspiring for growth and innovation.
Consumer Spending Shifts to E-commerce
Amidst a rapidly changing world, consumer spending continues to lean heavily towards e-commerce. The COVID-19 pandemic has accelerated the growth of online shopping, and these new habits are expected to persist well into 2021. Amazon's recent Prime Day, for example, experienced record-breaking sales, highlighting the sustained popularity of online shopping. Analysts project a significant rise in e-commerce sales by the end of the year, indicating a continued surge in consumer preference for online purchases.
Projected Rise in E-commerce Sales
E-commerce sales are projected to reach an all-time high of 909 billion dollars in the United States alone, representing a nearly 14% increase compared to previous years. This growth can be attributed to a combination of factors, including the adoption of new consumer behaviors, evolving retailer priorities, and the lingering reluctance of consumers to embrace in-store shopping. With the projected rise in e-commerce sales, Black Friday and Cyber Monday are expected to heavily reflect this expansion.
Continued E-commerce Expansion Influencing Black Friday and Cyber Monday
The continued expansion of e-commerce will significantly impact the behaviors of both consumers and retailers during the Black Friday and Cyber Monday shopping events. Industry observers predict that online sales on these two key days will surpass 10 billion dollars, highlighting the increasing significance of digital commerce. Moreover, as families anticipate the return of safe gatherings, a pent-up demand for holiday retail sales is expected. E-commerce is projected to play a pivotal role, with an estimated increase of 11.3%, surpassing 200 billion dollars in 2021.
Mobile Purchases on the Rise
One significant trend fueling the growth of e-commerce is the increasing prevalence of mobile purchases. With more consumers relying on their smartphones for shopping, the value of purchases made through mobile devices is set to triple in the United States between 2018 and 2022. This trend has been further accelerated by the pandemic, with a significant portion of digital sales on Cyber Monday attributed to mobile devices. As preparation for Black Friday and Cyber Monday, optimizing for mobile commerce is crucial for brands.
Early Outreach Strategies for Black Friday and Cyber Monday
To effectively capitalize on the highly anticipated Black Friday and Cyber Monday events, early outreach becomes a vital component of a brand's strategy. Brands are advised to advertise early and create excitement among customers about the upcoming holiday season, product lines, and anticipated sales. Reconnecting with existing customers through enrollment pushes for SMS rewards and loyalty programs, as well as re-engaging customers who previously made purchases, proves to be effective tactics. Offering exclusive perks for customers who exchange their first-party data and providing early access to deals further strengthens customer loyalty.
Importance of Personalization in Black Friday and Cyber Monday Initiatives
Amidst the noise of Black Friday and Cyber Monday promotions, brands must prioritize personalization to stand out and engage customers. Offering tailored shopping experiences, creating specialized collections, optimizing for multiple payment options, and providing rewards specifically designed for new customers all contribute to making the shopping experience more interesting and less stressful. By understanding customers' preferences and behavior through integrated data platforms, brands can deliver personalized promotions, demonstrating their commitment to meeting individual needs.
Engaging Customers for Long-Term Loyalty
For brands, the focus should extend beyond revenue generation during Black Friday and Cyber Monday. Building long-term customer loyalty and lifetime value requires effective communication and engagement strategies. By utilizing strategies such as pop-ups, SMS and email follow-ups, customer reviews, and post-purchase initiatives, brands can foster a strong and sustainable connection with customers. Encouraging customers to engage through reviews, referrals, and other interactive means leads to solidifying relationships and transforming shoppers into loyal brand advocates.
Third Love's Brand Story and Purpose
Third Love is a multi-generational women's lifestyle brand that offers elevated essentials, including bras, underwear, and loungewear. With a focus on supporting women in feeling comfortable and confident, Third Love has become the number one digital bra brand among millennials in the United States. Their commitment to inclusivity and body positivity sets them apart, as the brand aims to represent women of all shapes, sizes, and ethnicities.
Third Love's Advertising Strategy Targeting Podcast Listeners
Podcasts have proven to be an effective platform for Third Love to drive brand awareness and performance. Leveraging podcast sponsorships and endorsements by hosts allows Third Love to reach a wide audience and establish an implied endorsement. The authentic and personalized nature of podcast advertising creates a significant impact and generates efficient cost per acquisitions. Leveraging podcasts as a marketing channel provides an opportunity for sustained engagement, as listeners often revisit episodes, leading to an extended shelf life for brand mentions.
Creating a Sense of Community through Inclusivity and Body Positivity
Third Love's focus on inclusivity and body positivity has led to a stronger bond with their customers. By breaking free from limiting and outdated imagery, Third Love has fostered an authentic connection with customers, ensuring they feel seen, heard, and supported. The brand's emphasis on understanding and addressing customers' challenges in finding the right fit and achieving comfort and confidence has been pivotal in building a vibrant and inclusive community.
Boosting Brand Community with Customer Reviews
Customer reviews play a crucial role in strengthening a brand's community and providing social proof. Third Love utilizes Yappo's review solution to encourage customers to share their thoughts and experiences. By inviting customers to leave reviews via email after purchase and leveraging these reviews across social channels and paid ads, Third Love reinforces product benefits and showcases real feedback. The abundance of positive reviews helps build trust and confidence in Third Love's offerings.
Utilizing Yappo's Loyalty Solution: Hooked
Third Love benefits from Yappo's loyalty solution, Hooked, which allows them to reward and engage their most loyal customers. Hooked members have a significantly higher lifetime value compared to non-Hooked members, showing the program's success in driving loyalty and repeat purchases. By focusing on building a strong brand community through a loyalty program, Third Love can sustain customer retention and deliver continuous growth.
Black Friday and Cyber Monday 2020 Strategies of Third Love
In the unprecedented year of 2020, Third Love adjusted its Black Friday and Cyber Monday strategies to adapt to the challenging circumstances. Extending the promotional window to 12 days allowed more time for consumers to engage with the brand and its holiday offerings. The primary focus was to become a holiday gifting destination, introducing a robust assortment and limited-edition capsule collections. While some elements proved successful, others presented valuable learnings for future holiday seasons.
Shift in Strategy for Black Friday and Cyber Monday 2021
With the ever-changing landscape, Third Love aims to enhance its Black Friday and Cyber Monday strategies. The brand strives to deliver a wide range of gifting options and position itself as a prominent destination for holiday shopping. Emphasizing inclusivity, convenience, and product assortment, Third Love aims to captivate consumers' attention and inspire them to make purchases online. By offering a variety of products for self, friends, and family, Third Love prepares to create an unforgettable shopping experience during the holiday season.
Exciting Future Plans for Third Love
Third Love is thrilled to launch a host of new products in the upcoming months, including expansions into lounge and sleep categories. The brand's commitment to innovation and meeting customer needs will be exemplified in these releases. Additionally, Third Love anticipates the launch of a new category in September, along with a holiday capsule collection. The brand's continued growth and evolution will bring more exciting offerings and experiences to its dedicated customers.
Final Advice for Brands Seeking Growth and Innovation
As a parting note, Third Love's Vice President of Marketing, Rebecca Traverso, shares valuable advice for brands aspiring to achieve growth and innovation. It is crucial for brands to focus on isolating and growing their first-party data capabilities, considering the changing landscape of privacy regulations. By understanding their customers and activating a full-funnel marketing strategy, brands can break through the competition and sustain their efforts effectively. Emphasizing personalized experiences and community-building through loyalty programs and customer engagement lays the foundation for long-term success in the evolving marketplace.
Highlights
- Consumer spending continues to lean heavily towards e-commerce, with pandemic habits persisting well into 2021.
- E-commerce sales are projected to rise by nearly 14%, reaching an all-time high of 909 billion dollars in the United States alone.
- Black Friday and Cyber Monday are anticipated to surpass 10 billion dollars in online sales.
- Mobile purchases are on the rise, emphasizing the need for brands to optimize for mobile commerce.
- Strategies for Black Friday and Cyber Monday include early outreach, personalization, and engaging customers for long-term loyalty.
- Third Love, a multi-generational women's lifestyle brand, prioritizes inclusivity and body positivity, establishing an authentic connection with customers.
- The brand leverages podcast advertising to drive awareness and performance, utilizing the implied endorsement of hosts.
- Customer reviews play a crucial role in building a vibrant brand community, strengthening trust and providing social proof.
- Yappo's loyalty solution, Hooked, enhances Third Love's loyalty program, driving repeat purchases and sustaining customer retention.
- Third Love's shift in strategy for Black Friday and Cyber Monday involves becoming a holiday gifting destination, offering a diverse assortment and limited-edition capsules.
- Future plans for Third Love include launching new products, expanding into different categories, and transforming the brand in exciting ways.
- Key advice for brands includes prioritizing first-party data, activating a full-funnel marketing strategy, and building personalized experiences and loyalty.
FAQ:
Q: How has the COVID-19 pandemic impacted consumer spending habits?
A: The pandemic has accelerated the growth of e-commerce, with consumers increasingly relying on online shopping for their needs. This shift in behavior is expected to continue well into 2021 and has led to a significant rise in e-commerce sales.
Q: What strategies can brands adopt to engage customers for long-term loyalty?
A: Brands should focus on initiatives such as personalized communication, customer reviews, loyalty programs, and post-purchase engagement. By actively involving customers in the brand's community and continuously delighting them, brands can foster long-term loyalty.
Q: How does Third Love prioritize inclusivity and body positivity in its brand approach?
A: Third Love aims to represent women of all shapes, sizes, and ethnicities, ensuring that every woman feels seen, heard, and supported. By breaking free from limiting and outdated imagery, Third Love builds an authentic and inclusive brand community.
Q: How does Yappo's loyalty solution benefit Third Love?
A: Yappo's loyalty solution, Hooked, allows Third Love to reward and engage their most loyal customers. Hooked members exhibit higher lifetime value and contribute to sustained customer retention, driving the brand's growth.
Q: What is the focus of Third Love's Black Friday and Cyber Monday strategies?
A: Third Love aims to position itself as a holiday gifting destination, offering a robust assortment and limited-edition capsule collections. The brand strives to captivate consumers' attention by emphasizing inclusivity, convenience, and a wide range of product options for self, friends, and family.
Q: What are some future plans for Third Love?
A: Third Love plans to launch new products, including expansions into lounge and sleep categories. Additionally, the brand will introduce a new category in September and a holiday capsule collection, further expanding its offerings and customer experiences.
Q: What advice does Third Love provide for brands seeking growth and innovation?
A: Brands should focus on growing their first-party data capabilities, implement a full-funnel marketing strategy, and emphasize personalized experiences and community-building through loyalty programs. By adapting to the evolving marketplace, brands can achieve long-term success.
