How To Integrate Retail Loyalty Program With EPOS System?
But did you realize that if your loyalty program isn`t integrated with your EPOS system, you are limiting your ROI? Here are five reasons to integrate EPOS and loyalty to maximize benefits for your business:
Using an integrated platform means all systems and apps share data. Loyalty data, although important all alone, can offer deeper insights when you analyze it with other data from the POS. Having an integrated system, such as, you can easily determine the merchandise your most loyal customers are purchasing, which can enable you to forecast more accurately and keep away from stock-outs. Also, information from an integrated system gives you an overall, real time view about your business something that is impossible with non integrated systems.
Your loyalty program can also be an incredible marketing tool if that it can access the exact data. Matching sales data with loyalty program accounts enables you to make customized offers to loyalty program customers and to grow your business. As indicated by the 2018 Edelman Trust Barometer, 80% of buyers are likely to do business with an organization that offers customized experiences. An integrated loyalty POS system can also mean better marketing by and large. Loyalty program members provide essential demographic information when they sign up your program, which you can use to understand your client base better and precisely tailor marketing. With a fully integrated retail management platform, integrating with your CRM system, you can communicate frequently with all of your customers and check the effectiveness of promotions and marketing campaigns. Moreover, loyalty program integration with your POS system enables you to assess the effectiveness of your loyalty program itself. Are customers engaging in offers? Do they respond positively to rewards? Does it encourage repeat business? The combined data from your POS system and loyalty program can offer you the answers.
Another significant reason to integrate your loyalty program with your EPOS system is to improve customer experiences. With an integrated system, sales partners can enter the customer`s ID number or scan a loyalty card so points from a purchase are quickly added to the customer` account. They can also check a point balance and apply points during checkout which is the kind of experience your customer requires. A Bond Brand Loyalty study discovered 84% of buyer’s state instantly redeeming loyalty rewards points improves shopping experiences.
Multi-channel and Multi-location Use
Using one, integrated platform also enables your customers to use their loyalty cards and redeem points from anywhere. You customers can without much of a stretch perceive how many reward points they have, regardless of whether they`re shopping online, with their cell phones, or in any store area. Integrated platform = Seamless shopping experiences.
Another advantage of integrating systems is that they`re easy for your IT assets to oversee, update, secure, and integrate with third party apps. When you integrate systems, you gain the ability to centrally manage with all of your apps, rather than logging into individual dashboards and spending additional time on clunky work processes.
Importance of Loyalty Program
Your loyalty customers are the most important to your business. Most retailers find that the Pareto Principle that 20% of customers are in charge of 80% of revenues applies. So it bodes to do all that you can to optimize customer experiences for that 20%. Integrating your loyalty program with your POS system is a key step toward keeping the right product in stock, customizing service and providing consistent loyalty experiences any place your customers shop.