A POSitive change for your customers…Andy Simmonds
Deciding to upgrade you POS system is a big decision, and one that shouldn’t be taken lightly. However, have you considered the positive (POSitive!) impact it could have on your customers’ satisfaction?
This may seem like an odd angle to come from, but statistics show that 89% of customers say they switched from one business to a direct competitor as a direct result of poor experience. ¹
Now don’t get us wrong, poor customer experiences can come from a multitude of factors, but every customer has to pay for their goods or services, so POS is always going to be up there in the firing line. Whether it be queuing for too long, the bill not getting to them quickly enough, being charged for the wrong items – or the wrong amount, or a frustrating returns process – these are all factors that need to be considered with regards to your POS set-up.
If you needed more convincing, our friends at Aures quote the following statistics: “64% of consumers say that the quality of the experience they get now matters more to them than price. Businesses that offer the best customer experience report profits anywhere between 4% and 8% higher than the market average. Keeping hold of customers has a big impact here – a 5% uplift in customer retention leads to a 25% increase in profits.”
And in a world of increasing competition, keeping customers satisfied is absolutely key. So how can a POS upgrade give your customers a better experience?
We have all become accustomed to getting something quickly, most likely because of the amount of time we spend online. If a webpage is slow, we might go to another site. The same can be said in some retail locations, we don’t like to be waiting in a queue for too long anymore. As well as being faster, modern POS systems are incredibly easy to use with intuitive touchscreen interfaces. This means that your staff can complete tasks quickly and efficiently. And, with integrated software systems, all the information needed, such as product details, availability, pricing, menu items, loyalty membership schemes etc. is right there at their fingertips. Also, you are not just limited to the traditional till these days. Self-service kiosks and mobile POS tablets mean you can now take the POS to the customer to further reduce waiting times.
Modern POS systems can work alongside your stock management system; so instead of having to root around trying to find something, if a customer asks if you have something in stock, you can look it up instantly. If you don’t have it in stock, rather than them leave empty handed, you can order it then and there for them for collection at another time, or for delivery direct to their home.
Knowledge is power
Modern POS systems are excellent data collection tools. Every transaction goes through them which means you have loads of information at your fingertips. Mine this information to improve even further. Learn what your best sellers are and increase their stockholding. Who buys what and when – use this to know when a good time to offer a promotion might be.
The above, coupled with a CRM and things such as customer loyalty schemes gives you the opportunity to get a real understanding of your customers. And the better you know them, the better you will be equipped to keep them satisfied and coming back to you again time after time.
Looking for some further advice? We’d be happy to help! Please call us on 01299 488031 or email us via firstname.lastname@example.org.
With thanks to Aures for their help with this article.
¹ Stat taken from https://alicepos.com/15-customer-experience-statistics/