Online receipts are taking digital marketing to a brave new world
The paperless receipt is on the rise. Both consumers and businesses are beginning to see the benefits of opting to switch from paper to online receipts at brick-and-mortar retail stores. The switch from paper to digital allows consumers ease of convenience and the ability to keep track of their spending in an easy, user-friendly and non-wasteful way--similar to the way they keep track of their credit card or bank account activity. At the same time, the technology allows businesses an opportunity to reduce costs, gather accurate customer information, build brand awareness and develop targeted marketing strategies. Industry thought leaders like RIS magazine and BRP have collected a slew of data that shows consumers are ready for this type of engagement, heralding the technology to be at the forefront of a whole new buying world. It's just the type of a personalized experience buyers crave, and it will bring them back into the physical location.
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.