Do Small Retailers Really Need Loyalty Programs?

The whole idea behind having a loyalty program is to increase business sales in the long run, by rewarding repeat (loyal) customers with incentives, discounts and other offers and encouraging them to keep buying from you! It’s a simple yet a very effective and powerful strategy. Whether the goal of the business is to increase sales or to give a strong push to a slow-moving business, loyalty programs play an essential role for many big corporations. However, what about small retailers? Can Loyalty Programs be equally effective for small retailers and shop owners?

Now, the answer to that question is a big YES! A well-planned customer loyalty program can make even a small retail business increase their revenue and have sustained growth.

As we all know, it always costs more to acquire a new customer than to retain an existing one. Come to think of it, loyalty programs can help a small retailer / business owner in many ways. Below are some examples:

Aids in inventory management

In any retail business, inventory management is a challenging task.  You need to stock the right products to ensure your business can cater to the needs of the customer. When you have a loyalty program in place, you are aware of what the regulars prefer and that way you can stock the best-sellers at your retail outlet.

Customer engagement

Loyalty programs are effective in making your customers stick by you. By repeatedly rewarding your customers, you make it harder for your competitors to steal your customers from you!  It gives you the opportunity to communicate to customers about your new offers, schemes, or services freely. In return, you get more appreciation from your customers and are also able to retain them.

Improve  service/ provide better products

With a loyalty program in place, you are better equipped to know what your customers like. You can stock a similar inventory and offer quality products and service. It leads to an increase in customer satisfaction.

A right kind of POS tool guides you to effectively chalk out your loyalty program that’s beneficial to your business needs.

Low cost

In today’s age of mobile, cloud and other technological advancements, running a loyalty program for customers is not only easy but is economical as well. Loyalty programs are easily run via phone messages, emails, and simple in-store communication!

Compete with bigger retail outlets

Competing with the bigger retail outlets in your locality becomes possible with well planned and executed loyalty programs. Smaller retail outlets are able to personalize their loyalty programs based on the kind of customers they wish to retain and attract.

Being a small fish in the big pond, have their advantages. Use that advantage to the fullest by opting for the right loyalty program that suits your business needs. It will help you compete with the bigger fishes in the pond.

With innovative technology available at your fingertips, it is wise to invest in an innovative POS tool that helps you efficiently deliver customer service, help design a loyalty program and give a boost to your business.

Check our POS tool Posible, which offers cutting edge technology at affordable prices.


How to master inventory management for your retail store with cloud-based ERP

Have you ever thought where do most retailers go wrong?

You got it right! It’s Inventory Management.

Inventory management forms the crux of your business, and most of the time, retailers go wrong while managing it. Either there is too much inventory or the popular products are not stocked.

Managing inventory is a delicate matter, but if you have a POS (point-of-sale) that has robust inventory management features, be assured that your inventory management will be more accurate and real-time. Whatever kind of products you sell, despite the variation in size, colour, and style, the right kind of POS will help you to keep a check on the stock across all your store locations, online and offline. This saves you time, letting you focus more on business growth.

Keep reading this post to know how a cloud-based ERP POS can help you to master your inventory management.

Helps you identify which products to stock

This is pure logic: You know that you need to stock products which are in demand and sell more. You need to stock the bestsellers in your retail store.  A cloud-based POS will help you to identify which products are top sellers and which are not selling. It will help you to plan accordingly and build an inventory of the right products. Inventory tracking will also help you to make smart purchasing decisions, thus boosting your profit margins.

 

Easy visibility of products

A POS solution helps to centralize your inventory management and payment processing in one tool. The benefit is that you can access it from a smartphone, laptop, or a tablet. Hence, when a customer asks you for a particular product, you can easily answer because you have the information at your fingertips.

 

Finds products faster

Cloud-based POS software helps you to organize your stock by tagging and customizing categories of the products that are similar. This helps you to filter inventory searches and ensure that customer find the products faster. It also helps to see other related products that they might want to buy, thus providing you with a chance to sell more.

 

Manage stocks for multi-stores

The current cloud-based POS systems are technologically evolved. The plethora of features that they possess will help you get rid of the headache of managing your inventory across multiple locations. One such POS solution is Posible, a cloud-based ERP (Enterprise Resource Planning) software solution. Posible enables you to see all your inventory from one place, whether you own a single retail store, or have an online store, or have stores at multiple locations.

 

Helps to create purchase orders

Today’s POS systems allow you to create a purchase order, and you can email it, message it or print it. Many of the systems will also help place your orders with the vendors using its incorporated product catalogues along with letting you automatically re-order the products.

Managing your inventory can be made simple if you are equipped with the right POS system with an amazing set of inventory management features. It will help you move the stock efficiently in each of your stores, and thus, you will be able to direct your resources effectively and figure your next business move. A system like Posible has other features that will also allow you to build a rapport with customers, market them the right products and thus boost your sales revenue. Ultimately, that’s what your business goal is!

While you are at it – check out the amazing set of features that Posible has (including a powerful inventory management tool). Click here.


Is It Time To Upgrade Your POS System?

So you have a stable business going on! Everything appears fine but you can sense that to stay relevant, you need to make some changes and bring in some fresh air in your business. It can be in the form of new furnishings in your office, new products or new services. However, have you considered an upgrade for your POS (point-of-sale) setup?

If you are unsure and unable to answer the last question, it is time to upgrade your retail POS solution. You might think that you just got the POS software in place few years back! Well, trust us, the new POS solutions are more advanced and come with cutting-edge technology that will help you do a lot more.

To guide you better with the process of a POS makeover, we are sharing four key reasons or signs that would, if present in your current POS software, mean that you need to upgrade your POS solution.

1. Outdated Software and Hardware

The most obvious sign that you need new POS software is that your current one is old! If your existing POS software is old, gets stuck, and is complicated, then it’s time to head for a POS upgrade. If your POS system repeatedly restarts and there is a constant battle while issuing a sales receipt, you need to update your POS machine.

You might think that updating just the POS software will do the trick, but you can be wrong. Some of the POS software is incompatible with the old hardware –old terminals, receipt printers, etc., may not work well with the updated software. The new devices are less bulky, visually appealing, and space-saving allowing you to have more style and space in your retail outlet.

2. Not Cloud-Based

Currently, most of the business sector is embedded with cloud-based technology. It makes sense to use a cloud-based POS system as it is invading the market at a rapid pace. There are a number of benefits in using cloud-based POS system for your retail business. You can even opt for a hybrid system which will offer you both cloud-based and locally installed platforms.

3. Expensive

With passing time, old and outdated POS systems seek higher maintenance, leading to unnecessary expenses. With time outdated systems start demanding your time, money, and energy. This leads to unrequired frustrations in managing the business. Investing in the latest and affordable cloud-based POS solution will lead to better management of business resources.

4. Face Issues Tracking Inventory

Do you face issues while taking stock of your inventory? Is your POS system unable to read the barcode as it is supposed to? Without an accurate inventory, you would end up losing a lot of resources. If there are a lot of discrepancies in your inventory, it is time to invest in a new POS solution.

If you found yourself agreeing with the above reasons, it is probably a good time to invest in a new POS system. The main reason to upgrade your POS system is to bring reliability, effectiveness, and integrating new technology in running your business operations. Getting a premium quality POS for your business means you enjoy and deliver premium services!


Bolster your store growth with these retail metrics

Most modern POS platforms come with an array of out-of-the-box reports, which is an excellent place for you to start with your retail analytics. These metrics are usually calculated in real time as transactions occur at your store. Reports, charts, comparisons, trends, and insights are available 24x7 at the click of a button. It is, however, easy to get lost in this plethora of data and lose sight of the very objective of analytics – optimization, and improvement. Questions that naturally arise are – should you focus on all the metrics or just a select few? In the case of the latter, how do you go about selecting the right parameters? Or should you follow the industry best practices or focus on the metrics that the competition tracks?

The answer is closer to you than you think – your store operations. Your retail and category strategy should dictate which metrics to focus on. You may take cues from best practices in your industry, but your business objectives and goals will help you lock down the parameters for your store. And as to the number of metrics to track, experts say that retailers should start with 5 – 7 metrics, and include more as the business grows and goals change.

To help you maneuver through this terra incognita – unchartered territory – we have come up with a blog series, dedicated to retail analytics. In the first part of the series, we bring to you four metrics that are worth monitoring for any retail business.

A. Sales per sq. foot

Sales per sq. foot is an indication of the health of your retail store. It is calculated by dividing total in-store revenue over a month or a year into square feet of retail selling space.

Sales per sq. foot = total revenue/total selling space in sq. feet.

This formula excludes the non-selling space of the store, such as employee lounges, bathrooms, inventory, etc.
It is a good idea to set goals for this metric at the earliest. However, it may prove difficult to benchmark this metric for your specific industry. Referencing publications from research bodies, data from trade association bodies and journals, and annual reports of your competitors will help you get an idea of what benchmarks you can look at.

Now that you have an idea of where you want to be in terms of your sales per sq. foot, you can work towards improving the metric to achieve your goal. Since your store layout directly impacts sales per sq. foot, focus on optimizing your selling space and visual merchandising first. A quick look at other metrics such as foot traffic and conversion rate will give you insights on how and where to place your products for maximum exposure. Take a look at product sales to identify products that are not selling and replace them with other products or categories in your shop floor. You can also experiment with pricing and promotional strategies to move the needle in sales per sq. foot.

 

B. Average Purchase Value

Average purchase value is a measure of the average shopper spend at your store. It is a pretty straightforward metric to calculate, and most POS machines give you this metric automatically when you close for the day. The formula for this metric is:

Total revenue/number of transactions, within a specific period.

Average purchase value is indicative of the productivity of your sales system and how much your customers are spending. A high average purchase value means people are either buying more expensive items or buying more items per transaction. Lower values indicate issues with pricing or sales tactics like upselling/cross-selling.

It makes sense to look at items per purchase in conjunction with the average transaction value to get better insights into the performance of your sales strategy. An increase in items per purchase with little or no change in average purchase value means your customers are buying cheaper items more. On the other hand, an increase in average purchase value with little, no change, or drop in items per purchase means your recent campaign is working well, or your employees are getting better at upselling and cross-selling. However, there is an upper cap to average purchase value, and it is quite impossible to increase it beyond a point without increasing the items per purchase. The ideal scenario is that both the average purchase value and items per purchase should increase, but the latter should rise at a slower pace than the former.

 

C. Gross Margin Return on Investment (GMROI)

Simply put, GMROI is the return on your inventory investment. According to experts, about 80% of any retail’s asset is inventory, thereby making it the largest investment for the business. Thus, it makes absolute sense to calculate how much are you making on the money spent on stock. To calculate GMROI use this easy formula:

Gross profit/average inventory, typically calculated for a year.

GMROI helps you take stock of your current operations and plan for the future. GMROI numbers are instrumental in business planning, formulating pricing strategy, payment optimization, etc. Retailers also use GMROI calculations to manage stock refreshes and suppliers, and change products, categories, or brands.

D. Shrinkage

Shrinkage or shrink refers to the loss of inventory due to human and administrative causes such as errors, product damage, employee and customer theft, supplier fraud, etc. To calculate shrinkage, use the following formula:

Original inventory value – sold inventory value

Shrinkage is a common phenomenon in all retail businesses. While it is impossible to eliminate shrinkage, you must keep an eye on it as high shrink rates can eat away at your profits. Experts say that retailers should strive to keep the shrink rate at under 2%.

There are some practical ways to keep shrinkage in check. Taking proactive steps in instilling employee accountability, reducing employee turnover, and conducting timely audits and employee training programs will go a long way to minimize shrinkage.

As with any business analytics, retail metrics shouldn’t be viewed in isolation. Metrics must be analyzed in conjunction with other parameters which measure various aspects of your store and its operations. When viewed together, these metrics will help you drill down to the bottom of your store operations, get actionable insights, identify trends and problem areas that need attention. After all, analytics is the fuel that powers your growth engine.


Know How Pet Stores Can Benefit From Retail Software

A pet store retailer must deal with various challenges, ranging from inventory management, keeping a track of cash flows to handling demanding customers. Until few years ago, all this was mighty tough; however, today, with the advent of retail POS software, all this has become relatively easier to take care of. All you need to do is find a pet shop retail software that addresses all your pains and also allows you to GROW your business. Yes, you read it right!

While choosing the point-of-sale (POS) system, one should look out for tech features that will help in managing pet shops. For pet shop owners, following features are must-haves in any retail software that they go for:

Inventory Management Feature – Manual inventory management is often tiring and lacks accuracy. For a pet store owner - keeping track of pets along with other pet accessories and related items is not easy. A retail POS system such as Posible helps you automatically track your stocks and sales data real-time! With such a pet store retail solution, you also get notifications when a particular product is running low. Log on to your POS (point-of-sale) system at any time of the day to view your complete day-to-day operations. Now, Pet Stores owners can easily manage all inventory in the store with ease!

CRM (Customer Relationship Management) Feature - Customer Relationship Management (CRM) is a strategy for managing your potential customers and growing your business. When the customer is regularly visiting your store, then you should reward him/her with the loyalty programs, offers, give them discounts, etc. Whenever a new customer arrives at the store record the details and stays connected. Send them information about new product arrival, offers, new schemes, and make a long-lasting relationship with Happy Customers. Today, all these are easily doable with the help of a suitable POS software. Look for solutions that has good marketing support features.

Track on your Cash Flow - One can easily track and manage cash flows via the pet store POS System and keep track of all your transactions. It applies for every payment which is done through cash or by cards or digitally. This not only helps a pet shop owner be aware of the P&L (Profit and Loss) situation on a regular basis but it also helps in planning better for the coming months.

Easy of Use - Even though running your pet store has become more and more sophisticated; a dedicated POS software should be able to help you become more efficient. It should make your life easy! Some critical things to look for while deciding upon a POS solution are – how easy it is for you to use, can it be used seamlessly across different devices such as a desktop, laptop, etc., does the solution has data security and privacy features and whether the solution has good customer support

Remember, in today’s competitive environment, you need a pet store POS solution that not only helps you manage your store/s better but also helps you grow your business.


Evolution of POS (Point-of-Sale) Systems

In today’s time, it is common to find POS (point-of-sale) machines or sometimes, a more capable POS setup even in a small shop. Tech advancements in the field of digital payments and the encouragement given by the Indian government to cashless economy has meant that more and more shops and retail units are moving towards embracing the digital way of managing their establishment. No wonder , today, having an effective POS solution that can not only help you handle money, stay organized, maintain customer relations but can also help you in outreach is critical.

Ever wondered as to how the journey began for POS? How it has evolved from its humble origins as a cash register to today’s smart solution that can handle complex operations? Well, let’s dive into the history of POS to figure this out!

James Ritty, a successful saloon owner in Dayton, was aboard a ship to Europe in 1878 where he saw a machine that counted the number of times the ship’s propeller completed a revolution. He realized he could devise a machine to keep track of sales at his shop using the same technology, to stop his employees from stealing money from the business.

A year later, he invented the “Incorruptible Cashier”, a mechanical precursor to the cash register that we know today.  It didn’t have a cash drawer and only recorded the number of sales and the amount each transaction made. It helped Ritty keep a close track on his sales, thereby discouraging employees from stealing from the money box.

Ritty patented his invention but didn’t see much financial gain from it as business owners didn’t see value in it back then. He sold his patent to Jacob Eckert, founder of National Manufacturing Company (NMC). NMC was later sold to John H. Patterson, who renamed it as the National Cash Register (NCR) in 1884. It was in NCR that the cash register evolved with new features such as cash drawers for employees, paper rolls for printing receipts, etc. These features were instrumental to the rapid adoption of cash registers by business owners to record transactions and manage revenue.

In the early 1900s, NCR developed the first cash register powered by an electric motor. Electronic registers significantly sped up transactions, but they worked independently of each other. Thus owners of large stores had to get the totals from each register to get the total daily sales. Later, in the mid-1900s, technological advancements such as LCDs, thermal printing, etc. helped cash registers evolve into the point-of-sale systems of today.

IBM released the first POS system in 1973, which could control up to 128 cash registers. Touchscreen displays were introduced in 1986. With the advent of personal computers in the 1900s, the idea of fully automated retail stores started to take ground. Throughout the 90s, POS systems got a whole new makeover with the technology and internet boom, like the inclusion of barcode scanners, PC-Based POS systems, store automation, signature capture, and credit card devices.  

Over the years, POS systems have evolved from simple mechanical cash registers to full-fledged retail management software that helps business owners automate and manage a host of retail functions – inventory, transactions and sales, customer relationships, reporting, etc. all from one single platform. With the dawn of the 2000s, POS systems have gone mobile, resulting in a marked improvement in customer shopping experience.

The modern POS system operates in the cloud, making it easy for merchants to track and check their store operations anytime, anywhere. Features such as loyalty programs, employee productivity tracking, and multiple payment methods go a long way in optimizing store output and enriching customer experience. The journey so far, for POS systems, has been interesting. We believe, the evolution will continue and we will see many more features coming up and POS solutions becoming as common as mobile phones.


How to Choose the Right POS Software for Your Restaurant?

Congratulations! Finally, your dream to open a restaurant has come true! You have chosen the right cuisine and hired the right staff to ensure the place runs smoothly. You have the right kind of kitchen equipment. The location, décor, and ambience are also perfect. You have ensured to create the right kind of promotion.

Everything looks perfect and exciting! There would be just one more thing for you to pay a little attention to and that is the billing software. In India, people use all kinds of payment modes and it is important that your restaurant software is able to handle one and all. No wonder it is very important to invest in the right POS (point-of-sale) software and not just any simple billing software.

An efficient POS system will not only ensure proper billing and maintenance of all financial records; it will also do plenty of other things to help you manage the operations of your restaurant without any glitch.

So, how do we go about selecting a POS software solution that is right for your restaurant business? Well, answers to the following 4 questions will help you choose the right POS for your restaurant.

1. What are your restaurant’s POS solution needs?

Ensure that you understand the point-of-sale solution needs of your restaurant before you invest in the right POS solution. The fact being, the needs of a café is different from that of a fine dining restaurant. Some key factors for you to judge the needs would be GST billing capability, Invoicing simplicity, Reporting format, Dashboards and amount of information that the solution can give you about your POS entries. Judge different POS solutions on these parameters.

2. Do you plan to expand your restaurant or have multiple locations?

It’s a good idea to invest in a POS system that has great adaptability and scalability features if you have plans to expand your business. You will need a POS device to accommodate multi-store management. For this, you will need a POS system that offers multi-store management features along with built-in training to ensure your staff is equipped to use it efficiently.

3. Does your restaurant have a fixed menu or a flexible menu?

If your restaurant has a fixed menu, you can relax. However, if your restaurant rotates the menu on a weekly, monthly, or seasonal basis, then you need to pick a POS system that offers your menu flexibility. This way it ensures that your customers can choose from special items on the menu and it is easier to take orders.

4. Are you keen to create a loyal customer base?

For the success of your restaurant, having a loyal customer base is very important. If your restaurant location is in a local neighbourhood, you will have regular customers. If the location is close to city limits, your customer base will be different.

If providing a unique experience to your customers is on your cards, then you would require a restaurant POS system with built-in loyalty features. It will help you create personalized experiences based on customer history.

Top restaurants always invest in POS systems which help their business grow. There are non-negotiable features that make a restaurant POS software one of its kind. Here are a few of them:

  • Inventory Management
  • Order Management
  • Data Management
  • Loyalty Features (Sending across Offers, Discount Coupons, etc.)

To think of it, you need a POS system that assists you in measuring your restaurant sales on periodical basis to enhance your growth. You can easily tap into the details and have an updated report about labour costs, food costs, and sales made by the restaurant staff.

In short, you need a capable ERP (Enterprise Resource Planning) software with a powerful POS capability. Answer the above questions and you should be able to figure out as which restaurant software is the best for you.

Posible is one such cloud-based ERP solution that gives you all this and more. Contact us to know more


Know How a Salon Software Can Help You Grow Your Business!

The beauty and wellness sector in India is expected to touch 20 bn dollars by 2025. Still largely unorganized, the growth of this sector has been attributed to increased awareness about beauty and beauty products, rise in disposable incomes and spends on lifestyle needs, and surge in the number of women in the workforce, among others. Estimates place the number of salons and spas at anywhere between 10 - 12 mn, though the actual number is likely much more abundant than this.

 

Naturally, competition is stiff! While you can take measures to fight competition, there's one tactic that will directly impact your revenue - salon software. These spas & salons erp solutions (or POS solutions) are cloud-based platforms with features like appointment scheduling, online booking, GST enabled billing, customer relationship management, reports management, employee performance tracking, etc.

 

Below, we have listed the three main benefits of a salon software that can help you grow your business.

 

1. Increased Efficiency- Save Time and Money

All your information is in one place and is easily accessible from anywhere. Save time and money on daily operations like filling and taking appointments in a notebook and tracking payments in an excel sheet. Instead, schedule appointments online, send appointment reminders to avoid no-shows, and track your business’ revenue, profitability, and growth from anywhere. It’s all in the cloud!

 

2. Aid in Decision Making

You don’t have to be scared of numbers and statistics anymore. These cloud-based spa & salon ERP software solutions provide a vast range of reports and statistics out-of-the-box, that have already been analyzed for you. With a wide range of filters and variables, you can drill-down to the bottom of your operations to identify consumer trends and problem areas that need your attention.

 

3. Improved Customer Service

Increase the number of repeat businesses and customers with the use of automated loyalty programs. Identify customers to target for specific deals based on profile and behavioral criteria. Such erp software are effective salon pos solutions and are able to capture customer information at the point of sale easily with the option to send them an email receipt. You can create comprehensive customer profiles and run automated campaigns based on spending habits, age, gender, demographic, and special occasions.

If you too are looking to grow your spa & salon business; take control of your salon operations with Posible’s cloud-based spa & salon ERP now! Click here to get started.


9 Ways to drive in-store walk-ins

Digitization has had a direct impact on the customer footfall at your retail store.  The digital consumer can shop for anything she wants, at any time, and get it delivered to wherever she is. Quick technological advancements in logistics have enabled e-commerce companies to offer same-day delivery of products ordered online. The question naturally arises – what can you do to compel people to visit your store when the benefits seem to be on the other side.

To help you, we have compiled a list of 9 practical ideas that you can implement to drive foot traffic and boost sales at your retail store.

1. Create unique shopping experiences

By its very nature, e-commerce companies give you a clear advantage over themselves – ‘touch & feel’ shopping experiences. Online shopping is a virtual experience which is why your physical proximity to the shopper enables you to establish a ‘human’ connection, thereby increasing the value of the interaction. Hire smart talent, adept at sensing consumer preferences and invest in technologies like POS systems to record and analyze shopping behavior, trends, and patterns. Combine these tactics to deliver unique shopping experiences to your consumers, and they are bound to return for more.

2. Work on the window display

A lot of retail store owners ignore their window displays. Window displays play a crucial in promoting your retail store products. If your window display has a neglected look, displaying dull and faded products, it will not inspire people to visit your store. Changing or upgrading your display windows on a fortnightly basis may nudge the casual observer to pay a visit.

3. Cut down the queue

Most customers dread the long queues and abandon their purchases. To increase sales, banish the long lines. POS systems will help you clear queues faster, thereby improving your turnover.

Click here to find out why more and more retailers are switching to cloud-based POS systems.

4. Go digital

Yes, you read it right! As we mentioned before, consumers are using digital devices during their entire buyer journey. Whether to research the product or to compare prices, consumers are flocking to the digital world to make informed decisions. Hence it is crucial that your store has an online presence with a website, at the very least. You should also be present in listing directories and online forums. Ensure that you include correct details such as name, address, phone number, business hours, visual content, and reviews. It might take some effort, but it will drive traffic to your website and eventually to your retail store.

5. Hydrate your customers

Shopping can make customers thirsty. Offering a free cold drink or juice is a fun way to drive foot traffic to your store. It definitely will create a good impression on your customers. Ensure your customer stays hydrated, they are likely to shop more. Remember point no. 1?

6. Have a strong marketing plan

It is always a good idea to invest in marketing. The proliferation of free online tools and research materials mean that you can create and implement a marketing plan easily without incurring excessive fees/costs. Most modern POS systems come with bulk email and SMS capabilities and are usually an excellent place to start. If your finances permit, you can even consult a marketing agency to help you with creating and running successful marketing campaigns.

7. Create a customer contact list

Ensure that you record your customer profile details like email, birthday, anniversary and phone number, etc. Use the data wisely to reach out to them to promote your sales offer and loyalty programs. Do keep in mind not to spam them.

 8. Have a loyalty program in place

In the process of acquiring new customers do not forget your old ones. Always have a loyalty program in place to ensure the retention of old customers. Loyalty programs will also help you create evangelists of your brand.

9. Keep impulse buys close to sales counters

Use the space around the sales counter wisely. Many customers indulge in impulse buys at the sales counter. These are usually low-value products related to your line of business.

Which idea appeals to you?


Benefits of using a CRM-enabled POS system

Have you been using traditional ways of managing your business as well as managing your customers? Keeping a record of transactions and trying to remember the preferences of every customer. Is that not a daunting task?

So how do large organizations manage their businesses?

It’s simple - they invest in tools or software that help them to run their businesses smoothly. Digital tools such as POS Software (Point of Sale) and CRM are the essential tools that most business organizations invest in.  

Even if you have a small retail outlet, you too can invest in POS software that is reasonably priced. CRM enabled POS software is the best tool to invest in the current digital age. It is a good investment as it will help you to save on two significant resources – time and money.

Consider a few benefits of CRM enabled POS system:

Know Your Customer Better

We all will agree that the “Customer is the King”. Knowing your customer better- is one of the most important things that you need to do as a retail business owner. CRM enabled POS system becomes critical for you since the data that is collected from such a POS set-up will help you to understand what the customer needs. With a CRM enabled POS solution (such as Posible ERP solution – leading POS system in India), you can provide the right services, products and discounts/offers based on your customer's habits. This will help you have not just a satisfied customer but a happy customer, resulting in future repeat sales at your store.

Creates Brand Loyalty

Building brand loyalty is one of the most difficult tasks for any business. However, with CRM enabled POS in place this task will no longer seem daunting to you. The software collects the required information about the customer right at the point-of-sale. Hence you have data from every customer, at all times. Based on the data collected, POS systems help you create loyalty programs like gift cards program, anniversary discount offers, and rewards. You will have the entire customer profile at your fingertips. It will also help you create automated marketing campaigns based on the spending habits of the customer.

Connects Your Front Counter With Your Back Office

CRM enabled POS systems help you to save on time and money by completely automating the backend processes. Such a system auto-generates sales data of every customer and also assists in creating timely sales reports. All this can be done right at the POS terminal. It supports you in creating customer records, generates sales report or creates a new target list of customers without any glitch.

Data Management

With many customers visiting your store, a lot of data is generated. Managing such a huge amount of data can be quite a task since it can very easily create confusion. However, with CRM enabled POS, the hassles of data management is easily taken care off. An able tool such as the leading CRM in India, Posible software integrates all customer data along with the interdepartmental data automatically at once place. Hence, it cuts down your time for finding information and drawing insights.  

Quicker and Improved Customer Service Experience

With CRM enabled POS, the sales person has information about the regular customers at their fingertips. Thus, your sales staff will be able to provide quicker and better service to your customers. This results in repeat business generating higher sales.

Our cloud-based CRM enabled POS tool, Posible gathers and analyzes valuable data leading to insightful business decisions and strategic planning. To know more about the amazing features of Posible; click here.