A recent survey revealed that the main reason consumers chose to shop in traditional stores was to experience products before purchasing them. To take advantage of this consumer preference, retailers need to be aware which products customers most often want to test in advance and make sure they always have these products available. A POS system can prove indispensible to this end. Read on to find out how to improve your marketing efforts using a POS system.
Integration with CRM
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It’s easy to track purchasing behaviors using a POS system that integrates with a customer relationship management (CRM) portal. Retailers can therefore assure themselves that when customers enter a store, they will locate the products they hoped to purchase and have the chance to try them out. This will both limit the burden of customers refunding items which do not meet their expectations and ensure a positive in-store experience.
Profit from impulse buys
If your goal is to increase the average amount each customer is spending in your store, you might want to consider placing small, less expensive items known as impulse buys near the counter. A typical example is when a grocery store puts candy, gum, and newspapers near the register. Another example is when clothing stores display low-cost accessories where customers line up to purchase.
You could put together a bin of $5 or less items or theme your impulse purchases to the time of year or holiday.
Send Promotional Emails
When consumers don’t open email marketing messages, they miss out on event and product announcements, and retailers in turn lose profit opportunities. However, a study showed transaction rates and revenue per email increased sixfold when promotional emails are personalized for the customer. These emails have an almost 30% higher unique open rate, and the unique click rate is up 41%. However, more than two-thirds of all companies still don’t target individuals through email despite these impressive figures.
It’s easy to track what people are buying with a POS system. This way, you can reach out with customized information about new offers or items you know customers will be interested in. As a retailer, you can make sure every touchpoint between the consumer and your brand is relevant and constructive.
Start a loyalty program
Regular clients are your business’s backbone – studies show that repeat customers spend two-thirds more than first-time customers when they return. They are worth 10 times as much as their first purchase on average over their lifetime. Starting a loyalty program is a great way to get more regular customers. It’s a fantastic way to increase your revenue and show customer appreciation. Customers who participate in the loyalty program generate returns in 50% of the time it takes those who don’t participate to generate such. These clients come in twice as often over the same period of time.
To draw attention to your loyalty program, put signs near your point of sale lauding its benefits and train your staff to ask people to join the program.
Display stands are very popular with retailers like grocery stores, and an excellent use of POS marketing. Retailers highlight new products being released from different brands alongside their original products by using either cardboard cutouts or specially designed displays from the manufacturer. Display stands are an excellent way to encourage customers to purchase items based on a common or related theme, such as grouping all similar items in the store together. They are very suitable if you want to succeed in what’s known as suggestive selling, like positioning coffee and cream next to each other. We realize we’re out of coffee and we go to the store. Once there, we are reminded that we could use some more cream because it’s right there next to coffee, and we buy that too. Sugar is a third related product. Why not grab some sugar while you’re at it? And so on.
Another option could be putting a unique or innovative item to display your wares, such as an old-fashioned display carriage. This might inspire clients to grab a few extra products. POS end caps and novel display stands in retail establishments help people make quick decisions about extra food products to buy as they approach the cash register.
Improve customer service
Don’t assume customer service doesn’t have a tangible impact on sales! Almost four in five customers abandon a sale because of poor customer service, and almost all of these people refuse to return to the store as a result. What is more, it is not enough to just smile at the customer. Providing quality customer service goes way above and beyond that. Your POS system can integrate with HR data so that your establishment always has the right staff mix in place.
POS systems also facilitate intranet communications so that your employees have instant access to the right information, support, and insight they need. From the customer’s viewpoint, these retail staff members seem well prepared and able to go that extra mile.
The very best POS systems will enhance the customer experience without attracting attention. It’s important to equip your store for the future because the traditional checkout process is becoming outdated very fast. An innovative POS system can integrate the act of purchasing into the overall sales experience with ease while adding opportunities to customize customer communication and service. Checkout may be the last stage in the customer’s journey, but it is the focal point of the customer experience—so it pays to do checkout properly.
Successful retailers use POS marketing to get customers to buy something extra close to the cash register. Things like signs, banners, and displays encourage customers to add on something small to their order.
POS marketing can be used for almost every type of products, but it’s most effective when the shopper is in a hurry or prone to impulse buys. POS marketing can help provoke interest in a new product someone hasn’t tried yet.