Telemarketing Software Featured Article

SmartReceipt Adds Value to Handing a Customer a Receipt

December 27, 2011
By David Sims - Telemarketing Software Contributing Editor

“SmartReceipt,” as a recent column from small business observer Heather Clancy notes, lets businesses such as small retailers and restaurants make special offers “based on the customer’s past buying habits.”

Retailers and restaurants have to print receipts of transactions, and the idea behind SmartReceipt is “Hey, instead of just printing something that lets a customer know how much she just spent, let’s add some value to that transaction.” Clancy gives the example of a restaurant printing the nutritional content of other food available at the restaurant on the receipt, but of course it would probably be more common to print “promotion offers or targeted coupons, based on its specific business goals.”

This reporter first encountered the concept of smart receipting in Istanbul, where the supermarkets will print coupons on the back of receipts for the sort of purchases recorded on the front -- and loyalty cards are much more sophisticated and widespread there than in many other places, since the discounts offered are so worthwhile. Your typical purchases will be noted over time and the special offers calibrated to your buying habits.

“We’re taking a receipt that is very text-heavy and making it much more engaging,” Jay Ferro, SmartReceipt CEO told Clancy, who explained that the set-up fee is about $99, and the service can start as low as $25 to $30 per month, depending on the volume of transactions

Does it work in what all retailers care about -- boosting the bottom line? Anthony Pigliacampo, founder of ModMarket in Boulder and Denver, a “farm fresh eatery,” told Clancy he believes SmartReceipt has added 10 percent to his company’s top line revenue in every store: “The ability to target marketing messages to customers based on what was in their order or time of day has been extremely effective. Our redemption rate for offers we dynamically print on receipts is about 10X the redemption rate on other coupon offers we have distributed.”

Of course he spent about $10,000 on putting the technology in all his stores, and figures it’s worth it based on the returns he’s gotten. “We have a 85 percent redemption rate on those offers and it costs nothing to us but the price of the food we gave away,” he told Clancy.

David Sims is a contributing editor for TMCnet. To read more of David’s articles, please visit his columnist page. He also blogs for TMCnet here.

Edited by Rich Steeves