Improve Your Business with the Data Provided By Your EPOS System – Part 1
Of course, you can take payments, dole out gift vouchers to loyal customers and perform exchange of products. Yet, imagine a scenario in which I told to you that you could use your helpful point of sale to stuff to fatten your bottom line.
With every transaction, your POS is picking up multiple bits of data that you could use to enhance your business. POS data or those little chunks of wisdom, is a significant tool for merchants for vendors looking to optimize their business and it`s simply sitting on your checkout counter, waiting for you.
Be it is important to know the kind of data you are looking for, you inquire? While each business will discover a few data points more significant than others, there are a couple of regular bits of data that most merchants will find valuable.
Prepared to hear more? We should investigate at some more POS data that can bring more customers through your doors, optimize your marketing efforts, and give you profound deep knowledge into your ideal customer.
Listed below are some of the important aspects of the business in which helps your business grow.
This is one among the most important data you can get from your EPOS System. The right POS will automatically reconcile your stock after every transaction that has been made. Track stock is counted and automatically stops selling up of items when stock runs out. Also, regardless of whether a purchase is made online or in your store, your POS can track every transaction and alter your stock numbers accordingly.
How You Can Leverage This:
With inherent inventory management, your EPOS system can offer you valuable data on the availability of various items, their location and any movement between locations. Such quick transparency into your inventory levels enables you to change your item purchasing.
Having this information up to date right at your fingertips also enables retailers to offer top notch customer service. Access this data for answering on-the-spot items queries from customers. For instance, if a customer looking for a red skirt in an alternate size, you can undoubtedly get to your stock count to check whether that size and shading is available or not.
At whatever point a customer makes a purchase, you can gather some important data. From names, addresses, telephone numbers, email id’s and also their past purchased history. You can gather customer email addresses through online buys and in store at checkout (vendors and deals reps can offer to sign clients up for their email bulletin). Having a strong EPOS system can house this information and help you build useful reports.
How You Can Leverage This:
From all of these details, you can build robust profiles on most of your customers to use for a variety of purposes. Using customer email addresses in email advertising campaigns, offer customized item recommendations dependent on their order history, direct mailers, and you can create promotions based on aggregate shopping habits.