For many retailers, the upcoming holiday season will bring the biggest sales opportunity of the whole year and along with it, a ton of stress. The main goal for most retail business owners is to maximize their sales opportunities during this time of the year and close out the year with a bang! The good news is that this year, the holiday retail sales are forecast to exceed $1.1 trillion dollars and 90% of that is still inside the storefront.
Just because the market is expected to be good doesn’t mean you shouldn’t take steps to maximize your personal business’ success this year and for many years to come! But how can you do that?
Has it ever occurred to you that having an intuitive, robust, feature-rich POS system can not only streamline all of your sales and management processes but also actually help you to increase those sales you so desperately need before year-end?
While they are still referred to as a “Point of Sale” System, or POS, nowadays they are so much more than just the place where the final sale actually happens. They are genuinely complete retail, customer, and marketing management systems. All of these features are uniquely suited to help you increase your loyal customer base and ultimately your sales so today we are going to talk about 7 ways having an awesome POS can help you increase sales and end the year with a bang!
- Keep existing, and create new customers by creating a more intimate and positive customer experience.
A great CRM will retain customer purchase history, loyalty and account balances, even size reference if applicable. This attention to detail leads to creating a more intimate customer experience. They feel like you know them. And they like that. Creating an experience around your product helps customers remember your brand and return for more purchases.
Having multiple forms of customer communication is pivotal for any business that expects a surge of traffic during the holidays.
When shopping during the holidays there will always be a sense of urgency for the consumer. They will tend to have more questions than at other times of the year. Their concerns will include things like when will it ship? Will it get here in time for the holidays? Where is my order?
In addition, enabling options for customers to buy online then pick up in-store only serve to increase the feeling of a positive customer experience. Customers expect a pleasant shopping experience that saves them time, so they can beat the holiday crowds and get back to celebrating.
The entire purpose of any business who wants more clients is to create such a nice experience that their customers can’t imagine shopping anywhere else. These things are easy to do when you have a POS system uniquely designed to support your efforts.
One of the best ways to boost holiday sales, as well as pre-holiday sales, is to reach out to your existing customer base. Email marketing is one of the most effective ways to nurture loyal customers. Launch exclusive sales only to your newsletter subscribers, nurture your subscriber list and make them feel special. You can’t launch that special sale if you don’t even have a subscriber list. Right?
Build the list now by tempting people to join your subscriber list with a special promo for subscribing. Then they will be there when you are ready to launch a holiday campaign.
Incentivize your current customers to buy one of your own personalized gift cards for a friend and you will find that you not only increase sales but also potentially gain a new loyal customer. Gift cards provide customers with a more flexible option for gifting while allowing the merchant to gather new future customers and simultaneously help to solidify the relationship you have the current shopper who bought the card
Growing repeat business is easy when you utilize the custom loyalty program features that are part of a great POS.
3. Put your best foot forward, or your best products anyway.
Because your POS can help you to see which are are your best sellers and which products aren’t selling, you will be able to run reports and use that information to help to stage your brick and mortar appropriately. For example, you may want to display your best selling items right up in the front to entice new customers to come in the door.
This information can also help you move products that may not be selling as well to a better location, create a display to highlight the item or pair with complimentary items to show customers how they can be used.
Once your customer finds just the thing they want, a good POS can allow you to make it easy for customers to put items on layaway or easily look up customer balances. All of these options can help you to create more sales and increased customer loyalty.
4. Multi-channel inventory management.
Speaking of hot products! How important is it to always have on hand what your customers want? Well, it’s very important for your customers!
When you have a robust inventory management system there’s no limit to what you can accomplish! Complete product information including variants like color and size, the ability to create bundles, up to the minute item count, and automatic restock notices all make it easier for your associates to fulfill their customer’s needs.
Have you considered creating a customer review section for each product? If the answer is no, think again. After all — 91% of customers read reviews while browsing for products. These are just some of the ways that utilizing the tools available through an intuitive POS will help boost the customer’s decision to purchase from you and keep them coming back!
The last experience your customer has with you before walking out the door, and therefore the most prominent memory, will be the actual purchase. Your whole goal as a merchant is to create an enjoyable experience all the way through. Having a completely Integrated Payments system will lead to faster checkout, less human error, and a more streamlined checkout & reconciliation flow.
The ability to create custom buttons including cash, credit or debit, check, gift cards or any other payment type you need can help the associate to quickly choose how a customer wants to pay. Split payments for customers or let them pay with multiple tender types by accepting two or more payment types in a single transaction. Accepting mobile and contactless payments such as NFC payments like Apple Pay and Samsung Pay will also lend to a speedy sale and help to improve the flow of traffic simply because people almost always already have their phones in hand and are becoming more used to using their mobile wallets for convenience.
Cutting checkout time, getting more sales through when it’s busy, as well as access to your customer CRM gives associates the ability to help customers on the spot with past purchases, sizes and check out without even standing in line. Extra mobile terminals allow your associates to go to your customers instead of them waiting in line. Your customers appreciate the ability to buy on the spot which drives the “Yes, I’ll take it!” mentality without the risk of them second-guessing themselves as they wait in line.
All of these things help to create a more comfortable payment process and therefor a pleasant buying experience they won’t soon forget.
6. Staff scheduling
You can only create a pleasant experience and increase sales if you have enough staff on the floor when the rush comes in the door! Because you can not only keep track of the busiest days of the week and times of day but also which staff members have the best sales records it is easy to be better prepared for this crazy season. Put your POS system to use to help you schedule the correct amount of staff for the busy times and ensure your peak hours are staffed by your top sellers.
The holidays are the last time of year that you want to be stopped in your tracks by losing your internet or having your POS go offline! But it happens, weather happens, weird internet interruptions happen. A great Cloud-based POS will help you get through these busy times without any worry if you happen to fall victim to web disconnect.
Whether you are working with an iPad, or a PC a cloud-based system will sync in the cloud so you can access the information from wherever you are. And if everything goes offline, you will still be able to continue processing sales and the system will automatically resync your sales when you’re back online. Go ahead, breathe a sigh of relief.
All of these features make your POS system much more of a personal assistant than just a sales register. When used properly it can put the power in your hands to help you get through the busy holiday season with a lot more confidence, less stress, and possibly a surprising amount of satisfied customers!
At Bankcard Brokers we believe that your success is our success. That is why we work so hard to stay on top of the most cutting edge solutions to support our clients on their road to success. Join us next week when we will talk about a robust POS System that we feel was built especially to fill each one of these needs and then goes much deeper to offer so much more functionality for its users.