FTx Global (POS, Loyalty)
Ask any retailer what a Point-of-Sale (POS) system is and they’ll most likely tell you it’s the principal component of their retail store. A combination of software and hardware, your POS system is so much more than a cash register that records sales transactions. It actually serves as the central nervous system of your entire business! In fact, your Point-of-Sale system has the capability of providing you with the most valuable marketing tool there is–consumer data.
Consumer data is important because it depicts the entire demographic of your customers. By keeping track of their buying behaviors, you have insight into who is purchasing, what they’re purchasing, and when they’re purchasing it. But is your system optimized to build long term, profitable relationships? Here are 5 ways a modern Point-of-Sale system can increase your customer loyalty:
1. EASY SIGN U
Having a loyalty program that integrates into your POS system plays a key role in the program’s overall success. What better time for a customer to enroll into your loyalty rewards program than when they’re already in the process of making a purchase? Collecting customer information at the POS isn’t necessarily a fast process and can cause unwanted frustration. However, with FasTrax POS and Loyalty, you have the ability to simply scan the customer’s driver’s license at the register to quickly capture and retain all relevant customer information. This automation saves businesses time and money by eliminating the labor it takes to manually enter customers’ information at the register. Customers will thank you too, since it’ll save them valuable time before their next destination.
2. CUSTOMER ENGAGEMENT
Not only does a POS record your customers’ purchase histories, but the POS can also track and view your customers’ shopping habits and browsing behaviors. When customers sign up with your program, you will have the ability to collect their email addresses, phone numbers, physical addresses, birthdays, and maybe even their social media accounts. Having this stored in your POS database centralizes all customer demographic information and keeps it organized for future engagement and segmentation. Connecting and interacting with customers through these mediums can actually foster a great deal of loyalty if all contact you make is kept relevant, informative, and fun. For example, something as simple as a ‘Happy Birthday’ pop-up message on your POS can go a long way. That small recognition at the register could be what connects a customer to your brand!
3. RELEVANT OFFERS
In today’s digitized society, customers tend to patronize businesses whose brands they believe in. Brands that remain relevant to their needs quickly become consumer favorites. The reality is that everyone’s needs depend on time and context, and let’s face it, promotions and discounts are crucial to driving sales. Your POS should allow you to target a specific segment of customers and offer them something based on their collective purchasing behavior. By segmenting customers, you can avoid one-size-fits-all loyalty promotions and actually tailor your customer offers to include items your loyalty members already buy. Personalizing your promotions based on loyalty member favorites, you can provide a more meaningful experience for your customers, which will yield profitable results for you. Whether you offer points, discounts, or special recognition, give your loyal customers what they want—a rewards program that makes it quick and easy to earn and redeem points for the things they actually care about.
4. PERSONALIZED EXPERIENCES
Your POS system should come with many features, but most importantly it should be able to record your customers’ behaviors and patterns so you can use that information to create personalized incentives and tailored experiences. Upon signing up for your loyalty program, customers provide information that will give you insight into their hobbies, interests, and habitual spending thresholds, all of which filter into a particular demographic. You will come to intimately know your customers as time goes on and you observe their shopping habits. Use this to your advantage when customers are about to redeem their rewards by adding a touch of personalization to the rewards items you suggest. When customers feel like they are noticed and appreciated, true loyalty is fostered and more purchases are made. By leveraging this data, retailers can make personalized recommendations that maximize upsell opportunities and promote a sense of brand loyalty.
5. INSTANT GRATIFICATION
Nothing deters loyalty members from continuing to participate actively in a rewards program than having to wait a very long time to accumulate enough points to be rewarded. Don’t make your customers wait. Make your rewards instant! Your POS system should be able to automatically apply loyalty discounts and promotions without any hassles. As humans, we desire instant gratification, which means we like to see immediate results once we invest our time and money. The same principle applies to loyalty participants. When customers know they’ll be quickly rewarded for their purchases, they become incentivized to shop more frequently and spend more money when they do. Businesses should use this to their advantage so that customers continue to spend more while deepening the engagement they have with your brand.
Your point of sale system should streamline your workload, prevent loss, and drive sales. Having the right POS solution will not only make your operations more efficient, but it can actually grow your business along with your loyal customer base! If your POS system isn’t doing this, it might be time to look for a new one. That’s where FasTrax POS Solutions come in. Contact Us to learn more, and if you would like to discover all that FTx Global can do for your business, give us a call today.