Every day millions of customers go to stores and places to buy their favorite products but they don’t just leave with their products alone. For every purchase, the customer often gets a receipt as proof of the sale and for future references. However, most people do not care about receipts so they either ignore them or throw them away. This is where digital receipts come in as a more powerful tool for both transaction receipts and communication. Today, only 37 percent of retailers offer digital receipts which are remarkable considering we're living in the digital age with challenging environmental concerns.
Besides receipts, offices and organizations have embraced the green initiative of paperless paperwork using electronic media which has proven to do nothing but wonders for them in terms of both costs and operations. Going digital brings about multiple benefits for both businesses and consumers by inducing continuity in terms of future promotions and notifications after the sale is done. This not only improves the customer experience but also builds customer relationship for the future. Communication and engagement allow businesses and marketers specifically to collect data in order to learn about consumers and segment them according to relevant factors that may lead to efficient, personal and profitable marketing strategies.
Here are some perks of digital receipts;
We live in an on-demand economy in which the consumer mindset is accustomed to businesses fulfilling their demands in multiple ways. These ways range from online shopping, physically going to stores and deliveries. Today, the main focus is on about minimum efforts to bring about maximum returns. So, when it comes to receipts, customers love having options to pick from which include paper or digital receipts. It’s a win-win situation for everyone as customers have a digital proof of their purchase so they do not have to worry about losing it and retailers can save some expenditure on paper, ink and maintenance time as well.
2. Conversational Marketing and Loyalty Programs
Shoppers look for more personalization when marketers approach them with their latest promotions and campaigns. Digital receipts allow businesses to analyze consumer preferences and send real-time promotions according to their purchase history and demographics. It also helps businesses to improve their marketing mix and brand so instead of sending random and irrelevant offers of everything they have, they can rather have everything that they know their customers want in terms of stock, quality, and channels of purchase. Moreover, latest trends suggest that consumers are looking to have conversations related to products and services before purchase which has promoted channels like emails, bulk texting
and even lives chats on websites.
3. Managing Expenses
The electronic purchase is the way to go today and biometric transactions are soon to follow. A great example of this was in Russia during the FIFA world cup where hundreds of thousands of traveling fans purchased their tickets, merchandise and booked hotel rooms using electronic and biometric methods. Cash purchases lack clarity and often lead to budgeting problems. Digital receipts allow consumers to review all their purchases and keep an eye on their accounts at all times. This became popular online banking and ATM vestibules worldwide started offering transaction receipts in the form of emails and text messages.
4. Feedback Generation
It is an obvious fact that business owners cannot be everywhere at once. This does not mean that they cannot collect data on everything that happens in their business especially from the customers. Feedback has been proven to be the most critical data available at their disposal to improve their operations and customer experience as well. Digital receipts can include simple yes or no questions regarding their experience. With this simple data, managers can see analyze the performance of the staff as well as identify customer expectations and stand by for their next visit.
Customers who opt-in to digital receipts can enable marketers to use digital channels to communicate with them for promotions and notifications. So much so that today, over 31 percent of the marketing budget is now assigned to digital channels like emails, content marketing, social media, and mass texting services. This enables customers to receive a customized offer which suits their use cases.