The pointy end: why POS is so much more than a cash register

With the right systems in place, you can deliver value to your customers long after they leave your physical location.

We often think of checkout as the last part of the customer journey. In fact, it can (and should) be just the beginning. That’s why having a comprehensive point-of-sale (POS) system is not only vital for collecting dollars, but also for nurturing your customer experience and elevating your brand.

POS systems have changed significantly since the cash registers of the 80s.  Today, a key feature of many programs is the ability to capture data about your customers and their buying habits, helping you to manage not only inventory but also customise your marketing efforts to better connect with your audience and increase customer retention.

Up close and personal

When you personalise a promotional email, studies show that transaction rates and revenue per email increase six times. A POS system that features integrated marketing tools makes it easy to track what your customer is buying and lets you reach out to them with customised information about new products and offers that appeal to their tastes. This means that every touchpoint between your brand and your customer is relevant and constructive, boosting your brand image and deepening your connection with your customer.

All hail the mighty coupon

Gone are the days of snipping coupons out of a catalogue. Try offering discounts on a specific product or brand, based on what your POS system tells you about your customer’s previous purchase history. For example, you might send out a discount coupon for a product that a customer has previously purchased or send out special coupons on birthdays or special occasions.

Quality POS systems also allow you to set up various automation rules, like sending a coupon via email to customers that haven’t shopped with you after a specific length of time – a great way to entice those one-time shoppers back to you.

Get inventive with inventory management

A POS system that delivers inventory management and integrates with accounting and reconciliation software can drastically reduce inventory problems, helping you easily track what is going out the door (or kitchen). But if you dig a little deeper, you might start to see inventory patterns that you can use to drive traffic or promote certain items.

Let’s say that you notice you rarely run out of a particular product on Wednesday, but it flies off the shelves (virtual or otherwise) on the weekend. Try sending out a special secret promo that offers your loyal customers a discount on this product if they come in on Wednesday instead of waiting till the weekend. These kinds of sales not only take advantage of your inventory patterns but also help retain existing customers by giving them a sense of exclusivity.

Anytime, anywhere

As well as delivering value to your customers after they leave your physical location, a cloud-based POS delivers value for you and the business when you’re off-site, too.

You can access your business’s live data from anywhere in the world, and at any time of day.

Not only that, a cloud-based system enables you to make informed business decisions, based on near-real-time data,  that have a direct impact on your bottom line.

A busy restaurant owner now doesn’t need to be on-site whenever the restaurant is open. For example, one NCR customer – a busy mum – monitors real-time data from home when she’s not on-site, and calls her staff to tell them to push drink sales or a different menu item, and even sends staff home if it’s a quieter night.

And, with it being a cloud-based system, worrying about software updates are a thing of the past – you’ll always have the latest tech.

Hey big spender

POS systems allow you to gather data on your biggest spenders, which you can use to send them a thank you, along with a coupon or a reward. When you show your big spenders some love, it tells them they are valued beyond the point of purchase and helps foster that all-important brand loyalty.

Speaking of loyalty, most POS systems also have advanced built-in loyalty program capability, allowing you to assign points to customers for purchases in any way you choose, and then reward them accordingly. This is another great way to show these repeat spenders your gratitude, strengthening brand loyalty and your connection with these valued customers.

NCR Silver is the all-in-one POS, marketing and business management solution that can help grow business profits, make life easier, and save serious time for Small Business owners. To find out more about NCR Silver, head to ncrsilver.com.au.