Repeat customers play a vital role in driving up a retail store’s profit margins. They also have the power to influence and introduce new customers to a store. You can amass new customers and encourage loyal customers to purchase more frequently at your store with a POS system. In this article, we discuss the 5 ways POS systems help in doing so.
An average retail store has its fair share of regular and new customers visiting every day. Compared to new visitors, loyal customers contribute to the revenue of retail stores the most. So it is important to focus on not only turning new customers into regulars but also encourage existing regulars to stay loyal. The best way to encourage your regulars to shop more regularly at your store is to implement a VIP program.
POS systems allow you to identify who your regular customers are and grant them a special VIP status. Your customers can use this status to pre-order new arrivals, have early access to products and more. This customer loyalty-encouraging tactic gives your regular visitors a sense of exclusivity. And on the whole, result in an increase in sales.
The competition in the retail industry is stiff. Every store wants to accumulate and garner a wealth of loyal customers. In the middle of this push and pull for the most number of patrons, your customers may stop shopping at your store if you have no incentive programs. Such programs entail rewards. And they will stimulate your customers to purchase more from your store.
Using a Point of Sale software, you can create an incentive program based on purchase volume, or purchase frequency. For example, for every five times a customer purchases from your store, you can offer them a reward. Alternatively, you can reward customers every time they purchase products for a specific sum of money,
Another proven way of acquiring and retaining customers is to make use of high-value partners. Motivate a partner organization to promote your products on their platform. POS software solutions help in keeping a track of whether your customers are coming from this promotion tactic. They offer a simple customer feedback form in which customers can mention how they discovered your store or why they chose your store.
When a customer likes the shopping experience at a specific retail store, he/she is highly likely to spread the word about it. This is an incredible medium through which retail stores amass many loyal customers. It is usually an organic process and can take a long time. On the other hand, you can speed up the pace at which customers refer new customers to your new store with incentives.
You can create referral programs with incentives using retail POS software solutions. By launching it, both parties, that is the referrer and the new customer will get a reward for their actions. This is a great way of retaining customers as well as acquire new ones.
Offers, discounts, and freebies are unmissable opportunities for customers. The more frequently you launch such opportunities, the more customers you will acquire. Besides providing your patrons with incentives based on purchase habits, you can also provide them with perks that don’t require your customers to do anything. A major example of this type of perk is occasion-based perks.
POS solutions can comprehensively and accurately collect customer information. That includes their birthdates, place of residence, and more. With this information, you can give them a special discount on special days such as birthdays and anniversary dates. As a result, your customers will become loyal to your store.
Every top-performing retail store has a good amount of loyal customers. They come into the store and spend a good amount of money, driving up the store’s profits. They also have the potential to influence new customers to shop at particular stores. With a POS system, you can effectively retain customers and acquire new customers.
If you’re looking for a world-class POS solution, then you must certainly look up SmartPOS. It is a cloud-based, feature-rich retail billing software from SmartPoint. It is easy-to-use, fast, and mobile-friendly. Contact them to get a live demo today.