POS systems are multi-functional business tools that can help streamline your day-to-day business activities. Beyond that, though, if maximized properly, a POS system can offer even bigger benefits that can result in long-term advantages for your business.
It makes for a happier business owner and drives improved efficiencies that lead to happier customers, too. From trimming waiting times to rewarding loyal customers, here are some ways that a POS system can help improve customer experience.
How a POS System Will Make Your Customer Experience Better
1. Reduced Waiting Time
According to a 2013 study, 75% of retailers cite waiting time as the number one reason that they lose customers. This does not only pertain to waiting in long lines at the checkout counter but also waiting for staff members to get back to them on a query and waiting for employees to find an item.
70% of merchants say that customers are willing to abandon their shopping carts and leave the store if they are made to wait for more than five minutes.
A reliable POS solution can help curb this problem in a variety of ways. As a POS system stores all the business’s catalog and inventory information in its database, employees simply need to scan the products or select the SKUs to register the purchase. This eliminates the need for manual inputting of information, trimming transaction time at the till.
A mobile POS system will keep critical information and select capabilities at your employee’s fingertips, no matter where they are on the store floor. So, if a customer has a query on the availability of a certain product, they can quickly check the inventory records to see if an item is in stock, or still due for re-supplying.
This reduces the pesky need to leave customers hanging because your staff needs to “check in the back.”
2. Diverse Payment Options
Cash is no longer king in the realm of payments. Based on data, 56% of e-commerce customers expect that there are different payment options when they check out with their purchases. This expectation is not only true for online stores but physical ones as well. 75% of consumers prefer using a card, either debit or credit, regardless of whether they are shopping online or in a brick-and-mortar store.
The usage of contactless payments has skyrocketed in the past year due to the heightened awareness of virus transmission via physical touch. Based on a global study by Mastercard, 79% of their respondents now use contactless payment methods, motivated by cleanliness and safety as critical usage factors.
Furthermore, 82% perceive the contactless method as the cleaner way to conduct transactions. The usage of contactless payments is made better by its speed – it’s up to 10 times faster than other payment methods done in person, meaning that customers can get out of the store faster.
A large number of Americans share this cautiousness over physical payment methods. 50% of American customers are concerned about the sanitation of signature touchpads while 72% would prefer to not have to sign at all.
A POS system enables you to accept a wide array of payment methods, ranging from cash and checks to cards and contactless means. Considering that 51% of Americans turn to contactless payments, including tap cards and mobile wallets, it’s essential to have this capability.
Otherwise, if your customers can’t accept their preferred way to pay, then they’ll find someone else who can better accommodate them.
3. Customer Loyalty
Many businesses use discounts or freebies to entice new customers, but it’s equally important to ensure your existing customer base has plenty of reasons to stay with you.
Reward your customers for their continued patronage with loyalty programs and reward systems. This helps strengthen the brand’s relationship with consumers, prompting them to continue supporting the business as they feel there is something in it for them beyond purchasing a product.
According to Bond’s 2016 Loyalty Report, 81% of consumers feel that loyalty programs make them more inclined to stay with a brand, and 66% are even willing to adjust their spending to maximize the points they’ll receive.
A POS system makes it easy for you to roll out a smart loyalty program for your customers, encouraging them to continue availing of your services or shopping at your store. At the tap of a card, you can give members a discount on their purchase or dole out points that they can accumulate to obtain freebies or perks.
A loyalty program is also a great way to gain insight into your customers that will enable you to personalize your service for them. You’ll have their information, purchase history, and other pertinent details that can help you understand their shopping habits and preferences. If analyzed and maximized correctly, it can go a long way in building strong customer relationships.
4. Better Customer Service
In a study conducted by TimeTrade, 80% of respondents felt that assistance provided by expert employees helped boost their sales by 25% to 50%. This makes sense considering that while customers go into stores to buy a product, their experience interacting with service staff can leave a lasting impression.
Consumers buy a product because of its quality or value but they are also willing to leave due to poor customer service.
A point of sale system can help improve your customer service by providing insight on your top-performing employees and enabling you to make smarter staffing choices. If you have regular customers, it’s likely that these customers also have “regulars” – the staff who are typically on shift when they come into the store.
When your staff has established familiarity with loyal customers, they can provide personalized customer service by anticipating their needs, fostering a good reputation for your business. Supporting the positive relationship between service personnel and returning customers can promote long-term patronage and revenue for your business.
Are you ready to step up your customer experience? True POS has you covered. From affordable top-tier technology for payment processing to excellent customer support, True POS is with you every step of the way. We provide customized solutions to fit your business and ensure you have all the support you need to succeed.