Because SMBs sometimes struggle with big marketing technology deployments due to cost and implementation, affordability is crucial. Square Marketing can be used via a pay-as-you-go model at $.10 per email or a flat $15 for unlimited emails across 500 customers.
Square claims merchants have already seen significant return. For instance, merchants piloting the solution tailored promotions to “repeat visitors” or “frequent spenders” saw redemption rates that were twice the industry average. Square attributed $1 million in sales to those who piloted Square Marketing.
Square’s evolution into a marketing insights platform is partially due to its ubiquity – Square powers payments for more than 1 million SMBs.
The company already offers numerous marketing applications, like CRM tool Square Customer Insight, which aggregates customer information like average number of visits per customer per store and a breakdown of new vs. returning customers.
Square also has Square Feedback, which embeds content into digital sales receipts. Dorsey suggested Square’s next steps included more data-driven developments around the digital receipt at the National Retail Federation show last winter.
Square is among a handful of mobile commerce and consumer platform companies eyeing the SMB marketer. Foursquare launched in late 2013 a self-serve platform called Foursquare Ads for SMBs while Twitter and Facebook have collectively courted small merchants with comparable self-serve tools.
Japanese ecommerce company Rakuten funded and later on acquired Slice Technologies, an ecommerce app that turns e-receipts into grounds for “next-best offers” based on past purchases.