By Sharat Potharaju, Co-founder and CEO, Beaconstac
Total marketing budgets amount to between between 6% to 14% of a company’s total revenue and marketing teams spend a large portion of their budget on new customer acquisition.
Yet, marketers can maximize their budgets by refocusing their efforts on generating customer relationships that endure beyond the first purchase interaction. Acquiring a new customer is five times more expensive than retaining an existing one and less successful, too. The probability of existing customers making a purchase (60%-70%) is much higher than the likelihood of a new customer making a purchase (5%-20%).
Transitioning first-time customers into loyal repeat customers requires bolstering the post-purchase customer experience. This experience encompassesf all brand-customer interactions after purchase andncludes:
- Ongoing communication through receipts and surveys.
- Streamlined shipping and return processes.
- Accessible and efficient customer service.
- Exclusive deal offers.
- Social media engagement.
- Requests for reviews and ratings.
One tool for maximizing the post-purchase CX? QR codes. By activating a single centimeter of space on a receipt or mobile order, brands continue engaging with customers by keeping the conversation going beyond the initial purchase.
Benefits of dynamic QR codes
Unlike status QR codes which cannot be edited or changed once deployed, a dynamic QR code can be edited an indefinite number of times. Teams can make changes quickly and easily without having to reprint and redeploy dynamic QR codes. They scan faster and offer:
- In-depth scan tracking and analytics.
- Online retargeting.
- Campaign scheduling.
- (what’s the “more” ?? Add to this list if you can).
Dynamic QR codes also enable marketersy to retarget specific audiences with first-party cookies. Today’s customers don’t mindsharing their data provided companies don’t misuse it and offer something in exchange for this valuable information. After they scan a QR code, users can choose to accept cookies for retargeting, giving the brand permission to access and use their data to provide more personalized recommendations in the future.
Dynamic QR Codes Increase Post-Purchase Engagement
Dynamic QR codes boost post-purchase engagement, convert one-time buyers into loyal customers and help brands establish trust and consistency by:
- Encouraging customers to leave ratings and reviews. Customers appreciate this approach because it’s fast and straightforward, requiring justa smartphone and a moment of their time.
- Creating quick and seamless return processes. Take a page from clothing retailer H&M’s book: include a QR code on receipts to facilitate easy returns. If customers wish to return an item, a quickQR Code scantakes them to a URL to enter their order number and initiate the return.
- Encouraging customers to connect with the brand on social media through dynamic QR code links.
- Offering personalized QR code coupons for future purchases.
Including dynamic QR Codes on receipts and other post-purchase material such as flyers or postcards helps brands boost social media engagement, increase website traffic, drive app downloads, receive customer feedback and grow after-sales revenue.
Additional post-purchase experience considerations
While brands should keep QR codes top of mind when building a post-purchase engagement strategy, they’re one of several tools available. Dynamic QR codes complement confirmation emails, refunds and returns, customer support and satisfaction feedback — all essential touchpoints of the post-purchase customer journey.
Focusing on the post-purchase customer experience can strongly impact your customer retention and ROI. By tailoring in-person and offline experiences, brands show their commitment to delivering a positive purchase experience to each customer. Dynamic QR codes offer an excellent way to create a seamless experience that elevates the post-purchase experience and converts one-time customers into loyal, lasting purchasers.
About the Author
Sharat Potharaju is the Co-founder and CEO of Beaconstac, responsible for crafting the overall strategy and execution. Sharat is dedicated to achieving Beaconstac’s vision to enable digital connection with every physical object and place on the planet. Prior to his entrepreneurial career, Sharat spent a few years working in investment banking at Merrill Lynch in New York. Sharat holds a Master’s in Engineering Management from Duke University and a Bachelor’s degree in engineering from the Indian Institute of Technology (IIT) Madras.