Point of sale systems are much more than just a convenient way to complete customer transactions. In fact, a quality POS system collects pertinent customer information that can be used to better market your business.
Using the data collected by the system you can better target your marketing campaigns. As a result, your company’s marketing campaigns can produce more measurable results such as an increase in new leads and improving brand recognition.
Here are 5 different ways that point of sales system data can be used to better market your company.
1. Customer Loyalty Programs
Customers are more likely to stay with a company when they feel valued and like the products that are offered.
With the information collected from the POS system, you can implement a customer loyalty program. These programs increase brand engagement and make your customers feel rewarded and cared for. With the right customer loyalty program, you can count on customers to make more frequent purchases.
When implemented properly, these programs and the associated data can be accessed by a cashier using a barcode, loyalty rewards number, or even a phone number associated with the account.
2. Database Marketing
At the point of sale, the POS system your business uses should be set up to collect important customer data such as email address, birthday, physical address, and previous purchases. You can also use POS software to determine a customer’s shopping preferences and behaviors, such as favorite designers or brands.
With database marketing, you can segment all of the customer data that you have collected to send targeted invitations, offers, and discounts. By using the collected data, you can send customers offers and discounts that will be most interesting to them. You can also run campaigns based on zip code and other parameters.
The key to successful database marketing is ensuring that your campaigns are targeting the property group. For example, if you run a coffee shop, you likely don't want to send discount coupons to customers who visit every single day. Instead, you want to give discounts to those customers that come in sporadically so that you can encourage them to visit more often.
3. Product Placement
Developing a planogram for your store's shelves is an effective way to visually represent the layout of your store. Using a planogram you can determine where certain products should go and where they will be placed throughout the store.
Using data collected by the POS system, you can determine which items should be on shelves closer to the entrance, and which ones should be at eye-level near the checkout register.
With proper product placement, you can ensure that:
● Popular items are located in high-traffic areas in the store
● Customers are more likely to impulse buy
● Items with too much inventory can be discounted and placed in high-traffic spots
Product placement helps to encourage even more sales. By analyzing POS system data, you can determine which items are selling the most.
4. Customer Relationship Management
Certain retail segments, especially specialty stores, can use tablets and other mobile devices to sell customers a specific item based on their previous purchases and overall purchase behavior. This allows your sales representatives to offer a personalized shopping experience which gives you more control and reign over customer relationship management.
By using a POS system that mobilizes sales, you can make shopping much easier and more convenient for customers. The system also increases impulse buys. With a quality POS system, you can introduce them to new products that are likely to be of interest to them because of previous purchases.
5. Cross-Selling And Upselling
With the right cross-selling techniques, you can increase revenue from those customers who purchase additional products. With upselling, you'll need to let customers know why higher priced items correlate to a higher quality. It's also important to discuss the benefits of the items you sell so that your customers are well-informed about what they're purchasing and what they can expect.
With cross-selling, you can identify your customer's needs by figuring out why they are shopping along with their past shopping behavior. You and your sales reps have the most influence over cross-selling and upselling.
Conclusion
POS systems are most known for allowing your company to process purchases and returns. But, these systems also collect valuable customer information that can be used for other business operations, especially marketing. Using the data that’s collected by the system, you can better market to your customer base, increasing the chance of return customers and new leads.
Keep the 5 above marketing options in mind to better position your company now and long into the future. It is an investment that is sure to pay large dividends over time for your business!
I hope you enjoyed this blog post about the top ways your point of sale system data can be used to market your retail or ecommerce business.
Interested in more articles about ecommerce and retail sales?
Read Related Resources:
• The Major Benefits Of Point Of Sale Systems
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