Online receipts are taking digital marketing to a brave new world
Taking digital marketing to the next step
The technology is integrated when a consumer makes a purchase at checkout--opting to have their receipt emailed to them and choosing to give their information. This personal acceptance helps your marketing team build a database that is 99% accurate.
With an open rate of 70.90%, compared to the average 17.19%for regular email marketing campaigns, and a less than 1% bounce rate, the digital receipt is a gold mine in an inbox. As a business owner, you will always know who your customers are for every transactional email marketing campaign. Email validation at the end of every transaction generates high delivery rates and keeps your database current. This creates content delivery that is targeted, based on user-defined rules. And this creates an opportunity for a highly successful digital marketing campaign.
Remember when mobile payments were taboo?
The adoption of online receipts is similar to the recent expansion of other retail technology like the mobile payment. With the digital payment method, replacing cash and traditional debit and credit cards, major growth happens gradually and then all at once. BRP predicts a 700% increase in retailers providing digital receipts with personalized suggestions.
The power of persuasive communications
Suggestions work. Whether it's a friend urging you to purchase a dress that would go perfectly with a pair of shoes or a tie that would go great with a certain belt, consumers are prone to the power of suggestion. For example, as far back as 2006, Amazon reported that 35% of its revenues were a direct result of its cross-sales and upselling efforts, mostly through email receipts.
The technology has been available for some time. Studies show 35% of brands are already on board with big names like Gap, Best Buy, Whole Foods and Macy's catching on, offering the digital option at checkout. If you're considering taking your paper receipt digital and need more information, join our community for insights and solutions and contact us today.