Every business wants to improve its bottom line, but not all of them have the tools or information to do so. Building a sales-boosting strategy is a crucial element to promoting the growth of your organization. Fortunately, with an updated point-of-sale (POS) system, enhancing your revenue strategy is easier than ever.
Here are 3 ways an updated payment solution increases sales:
Makes shopping convenient
When running to the store, some consumers want to get in and out as quickly as possible. An updated POS solution creates faster transactions and promotes a user-friendly process which anyone can use. The updated POS solution also benefits employees with features like inventory management. This feature helps employees know what is in stock at a moment’s notice so when a customer asks an employee about a specific product they can relay that information on the availability to them instantly. Another aspect of inventory management that benefits the employees is that it keeps track of what needs to be restocked. The analytics feature will help organize the store strategically with the top demanded products in the most convenient locations within the store. A fast and easy POS system creates a better customer experience as well as an employee experience. Fact, according to U.S. News and World Report, wasted time is one of the top 10 ways companies annoy customers.
Make the process easy for staff and consumers alike with an effective point-of-sale system. Modernized terminals are easy to use, saving your business from a lot of employee frustration and confusion. The straightforward functionality will also allow your staff to move customers through the line more efficiently.
Be respectful of your customers' time
Introducing the latest payment technology called near field communication technology (NFC) is a great way to decreases the wait in line tremendously. With this new payment technology we can now walk up to the terminal and wave a phone to pay instantly. No more hassling with credit cards or cash if you have a type of contact list payment on your smart phone. When customers know that your business offers time-saving services, they'll be more likely to use your store when they're in a hurry. Not only will this give you an advantage over competitors, but it will increase your sales because more consumers will go to your store instead.
Gives employees more capabilities
Business owners must provide employees with tools to make those sales happen. An updated POS solution is one of those tools. This update benefits the employees in a sense that it decreases lines so they are not in a hurry to lessen them and it makes payment processing faster so they can keep their focus on the customer’s. This creates happy customers and employees because the flow of selling is smooth and persistent. Updated POS system have inventory tracking so information on inventory is a click away. They also have cloud back which serves as a safety net for employees when they lose something because everything is stored there.
Reward loyal customers
According to the Direct Marketing Association, it costs six to seven times more to acquire a new customer than to retain one you already have. Customer loyalty programs not only bring cost savings by helping to retain existing customers. Customer loyalty programs provide ways for consumers to save money by spending more with your company. Therefore, you can add to the bottom line by enhancing the customer experience.
Consider using a POS system with a built-in customer loyalty program. This will make it easy to integrate rewarding returning customers into your business strategy.