The digital receipt: Marketing benefits for your business
We live in a world where a click of a button or a tap of a finger can purchase a product—any time, anywhere. Brick-and-mortar retail stores need to keep up in order to keep consumers coming in. To the digitally savvy buyer, paper-based receipts may seem outdated. After all, they leave people with stacks of paper, can be easily lost and can be a hassle to deal with at tax time. A digital receipt offers many benefits to both consumers and business owners, and from a marketing point of view, can be a driving force to keep customers coming back in store. Here's why:
A recent survey of over 5,000 marketers shows that 73% state email marketing is core to their business, and email acquisition for list growth is the primary motivator for 83% of the nearly 4,000 retailers who participated in a recent Epsilon survey. Collecting emails allows brands to send personalized marketing messages through discounts, promotions and loyalty programs on a digital receipt that will encourage consumers to go back in-store. For many merchants, this is a major draw for offering them: in another report from Epsilon, 83% of the retailers that offered the online receipt claimed the ability to email customers was a major draw for switching. Retailers are always concerned with the leaky bucket--when customers buy one thing and never come back again. Expanding an email database gives brands the opportunity to engage on multiple channels and create a personalized experience.
Static content won't produce ROI. The real estate on your digital receipts is highly valuable. Including your social media platforms allows another vehicle for communication with your customers where you can answer questions, promote your products and services, and handle customer service issues in responsive time. you will learn more about the consumer, you will build up on user-generated content, and your ability to engage will lead to building relationships.
Customer loyalty isn't what it used to be. With so many brands competing and consumers being bombarded with digital noise, marketers need to focus on the customer experience to keep them coming back. Tracking purchasing patterns will allow you to promote similar products consumers may also want to purchase. A well-thought-out, dynamic digital receiptstrategy enables your marketing team to build a two-way relationship with every customer. Those relationships allow your marketing team to provide personalized content for each transaction and content that is relevant to that specific customer.
NRF research suggests that the digital receipt will be adopted and offered by 60% of retailers by next year. Consumers are beginning to embrace the convenience of storage and management, and retailers stand to reap the benefits of increased efficiency, security, cost savings, cross-channel integration and, perhaps most important, e-mail list acquisition.
Is your business thinking of making the switch from paper to digital? Join our community for industry insights, trends and solutions to all your needs. Contact us today to learn more.