CPG brands have historically faced unique challenges in the loyalty space due to the nature of their distribution and the inability to tie back purchase data to individual consumers due to lack of access to POS data. Recent advances in technology have now made it possible for CPG brands to not only collect insight into the shopping preferences of their customers, but also leverage that insight to foster engagement and loyalty. Here are some of the benefits CPG brands can glean from incorporating receipt scanning functionality into their loyalty offerings.
1. Encourage active participation in the loyalty program
If you are a brand without a direct connection to the point of sale, enabling customers to scan their receipts for purchasing your brand’s products allows them to truly maximize their participation in your loyalty program by affording them the opportunity to collect points on each brand purchase, across multiple retailers. Customers are more likely to engage in your loyalty program if you reward them for every single transaction.
2. Drive incremental spend with the brand
Receipt scanning capabilities can give a CPG brand a competitive edge. According to ICLP, 24% of consumers stated the ability to send receipts via email would lead them to shop more frequently with a brand. This is because customers are provided with an additional incentive to make their purchase.
3. Fill in the data blanks on customers
More and more CPG brands are partnering with loyalty vendors that offer technology like receipt scanning for data collection purposes. By building receipt scanning functionality into their loyalty program, CPG brands can scan receipts to identify applicable SKUs and/or product descriptions. When combined with brand engagement data, this gives them a 360-degree view and unprecedented insight into their core consumer and their behaviors and preferences. By implementing receipt scanning, brands are also able to gain insight into the retailer, total basket size, and store location, for example, and leverage this data to design effective customer strategies.
4. Create effective upsell campaigns
By marrying together the product catalog, inventory, and receipt scanning data, CPG brands can start to identify their most profitable customers and what they’re purchasing. From here, brands can design effective campaigns to increase sales on certain products and reward customers for spend.
More and more, CPG brands that don’t have a direct relationship with consumers are adopting commerce-driven loyalty programs that reward for activities such as receipt scanning. These activities allow brands to capture more data helping them understand their customers better and drive a stronger sales strategy. Additionally, the easier it is for a customer to be appropriately rewarded for their transactions, the more effective the loyalty program will be at driving sales and increasing revenue.
For more spend activities ideas to integrate into your loyalty program download “10 Ways to Increase Sales with Rewards for Spend.”