Not too long ago, receipts were just receipts– a transaction confirmation. However, these little pieces of printed paper play a much greater role today. Many POS terminals, printers, cash registers, and credit card terminals can include customized messages on printed recipes. This can be an opportunity for businessmen to market their products and services.
And envisioning how to start a credit card processing company, immerse yourself in industry intricacies. Comprehend regulatory frameworks, forge strategic partnerships with financial institutions, and integrate cutting-edge payment technologies. Develop a comprehensive business plan, emphasizing customer trust and efficient services. Navigate the competitive landscape with diligence for a successful credit card processing venture.
Nowadays, receipt marketing is a strong strategy used by various organizations. According to research, utilizing receipt marketing can increase your profit rates by 25% to 95% and retention rates by 5%. However, for that to happen, you must use a good-quality receipt printer with high-quality paper and ink. You may look at TSC mobile printers to explore some options.
Tips to turn your receipts into a marketing tool
- Encourage customer loyalty.
There is no better way to show appreciation for your loyal customers than by offering them a discount on their next purchase. You can showcase a time-sensitive discount on your receipt, so they are compelled to buy from you again. For example, offer a discount of 25% on their next purchase if they buy within the next 30 days. This encourages customers to return to your store and gives them the incentive to buy from you again, knowing they will get another discount.
- Drive your customers to other marketing initiatives.
Receipt marketing is a great way to drive your customers to your other marketing platforms, such as your social media accounts, loyalty program, or online review website. For example, loyalty programs are great for offering special discounts.
Sending an email about it may result in it being unopened forever. Posting about it on social media may receive less response as well. By placing a QR code on your receipt, your customers will be more likely to scan it and sign up.
- Recommending products.
You give receipts to your existing customers. According to research, 80% of your company’s revenue comes from just 20% of your existing customers. Therefore, you want to ensure you keep each one happy and satisfied.
If your customers keep buying the same products or services without ever trying something new, you may include product recommendations on the receipts. You may even offer a discount on their first time buying a new product to encourage the purchase.
- Survey customers.
You may include links to short and interesting surveys on your printed receipt. Surveys show that you care about your customer feedback and what they think about your product and service. Not only will your customers feel important, but you will gain rich insight into how to better your services.