What is a POS?
A POS or Point of Sale is a mix of hardware and software that takes the place of a cash register. It performs the same function as a cash register, but rather than just recording sales, it plugs into the rest of your business providing a range of benefits for you and for your customers.
What are the benefits for business owners?
By using a POS, you will be able to track and analyse customer spending, behaviour and profiles which will help you understand your customer experience more deeply and use this data to plan ahead in order to maximise potential profits.
Think of a POS as more like the nerve centre of your business. At the touch of a button, you will be able to tell what your most popular products are, who your most loyal customers are and what products are selling fast so you can restock before they sell out and you miss sales.
You can also find out which employees are achieving the most sales, what your customers think of your business and which areas of your business are performing less efficiently than others.
A POs can help you streamline your business, focusing your efforts on what is working, cutting back on products that aren’t selling well, rewarding your most loyal customers to encourage them to spend more, and training staff to maximise their sales potential.
What are the benefits for customers?
But what about your customers? How do they benefit from you having POS in your business? Well, POS speeds up transactions, offering you the opportunity to integrate devices such as barcode scanners, card swipers and printers which all serve to reduce customer transaction time. For the customer, using a POS results in a fast and efficient transaction process.
Using POS also enables you to reward your best customers and their regular spending through loyalty programs. The fully integrated system makes this process smooth and efficient, with less margin for error.
Using customer behaviour and data collected by your POS, you can also reach out to your customers when they aren’t on your premises, offering them exclusive and personalised offers which will build your brand awareness and your relationship with your customers. Customers crave a rich and personalised experience, and POS offers you the opportunity to provide that.
Customers today want to form a personal relationship with your brand and business, and this is achieved by using a variety of methods to engage with your customers when they aren’t in your business. A POS provides you with all the information that you need to create a powerful, personal, and rich customer relationship which will quickly turn them into loyal and lifetime customers who will return to your business time and again.