Customer relationship management (CRM) is becoming more and more important in the digital era. As technology advances, businesses seek innovative methods to recruit, cultivate and keep loyal customers. Using advanced point-of-sale (POS) machines, businesses are now able to manage many aspects of their business. The article discusses more about what businesses can achieve with POS CRM.
What is POS?
The standard functionality of a POS machine is to help businesses conduct transactions by accepting cash or digital payments. Easily confused with a normal cash register, modern POS devices are now infused with intelligence to perform and track more than mere sales transactions.
Modern POS systems provide an abundance of benefits to business owners. They can track and analyze key indicators of a business, generate comprehensive sales reports, facilitate inventory management activities and even scheduling shifts or appointments for your staff and customers.
POS machines can also come in different forms, such as mobile devices, tablets and even desktop POS machines.
What is CRM?
CRM refers to the processes, guidelines and strategies a business organization undertakes to manage and improve their relationship with their customers.
Successful businesses dedicate a substantial amount of their time to collect and analyze data that is generated from their interaction with their customers. The information helps businesses understand their customers better and helps them stay on track with their target audience. The information can be used to identify potential customers, build relationships with regular customers and reward loyal customers.
Why is CRM important?
The key to running a successful business is understanding your customers in order to deliver the maximum value to them. CRM not only helps businesses to enhance and strengthen relationships with their customers, but provides other valuable insights that can be further analyzed to formulate strategies and facilitate company growth.
For instance, keeping track of customers’ purchase history enables businesses to learn more about various metrics:
– Who are buying your products?
– Why are these individuals buying your products?
– What are the similarities of these individuals?
– What are they likely to buy next?
By studying what existing customers are buying, businesses can attempt to make predictions on what kind of products they might need and will be inclined to purchase. In addition, analytics can be performed to learn why people are not buying your products and what changes can be made to get them interested. The information can also be used to educate your sales team or sales reps on how to better engage consumers.
Analyzing CRM metrics can also allow businesses to create effective marketing campaigns that will appeal to customers. Brands can capitalize on data obtained from current customers to launch promotional campaigns that they know will interest their customers. This could be in the form of discounts or bundle deals tied to popular items or bringing back seasonal offerings. This improves customer experience with the brand and encourages customer loyalty.
How do you incorporate POS and CRM?
As mentioned earlier, modern day POS solutions can do more than just payment processing. Using the right software, accompanied with sophisticated hardware, brands can take their business to the next level with a cloud-based POS system.
Modern day POS solutions automate most processes in a business. They help to track and monitor an abundance of information in real time. The moment a customer interacts with your business, it will be captured. Be it in the form of a sale or through entering their particulars in a form – the software is able to keep track of customer details and help a brand follow up on leads. This guides and empowers sales teams to find new customers and strengthen customer outreach. This information can also be exported to other databases to be managed as well.
POS solutions with built-in CRM features can also help to keep track of a business’s sales history, removing the possibility of human error. This results in accurate reports that business managers can use to improve various aspects of their products and services. In addition, the software can also provide information on what items are usually bought together frequently, allowing managers to arrange products in a better way that encourages more sales. Understanding the buying habits of consumers enables your brand to conduct research and development in order to fine tune your product or service offerings to keep customers satisfied.
A good CRM software solution should also be embedded with functions to perform email and online marketing campaigns. By automating this mundane task, it saves staff a lot of time to perform other value-adding activities. In addition, it also reduces the lag time between a new customer’s first contact point with the business and a follow up email from the brand. Once a prospect is captured into the algorithm, the software will be able to send out email content almost immediately.
From a marketing perspective, businesses will gain the ability to receive and store not only customer information and purchase habits, but to further segment their customers into more concise groups. This helps businesses to target each individual sub-category of customers with more personalized marketing efforts, increasing the chances of a sale. For example, by differentiating between customer types, such as sieving loyal customers from casual customers, brands can spend their time more productively to go after customers who have a higher rate of repeat purchases. Businesses can also use these insights to improve customer service.
Furthermore, one of the greatest benefits that a CRM software can provide is the ability to manage customer loyalty programs. This function makes marketing efforts by a firm significantly easier, since the campaign can be managed entirely through the POS device. Businesses that reward customers using a point system can effortlessly keep track of the points customers earn. Since points are likely directly proportional to the price of items or total bill spend, the software will easily track this information and let the cashier know whether or not the customer is eligible for rewards.
Businesses no longer have to keep track of such campaigns manually, which can get very messy and troublesome. In addition, as these smart POS solutions are able to track and maintain information on customers, they can even provide customized rewards that are curated using the additional customer details that are collected, further enhancing the customer’s experience with your brand. With sleek devices like iMin’s Swan 1 Desktop POS, you can be rest assured to not only have an elegant display set up, but also a seamless checkout experience for your customer.
Where can I get started?
If your business is new to POS, here are some places for you to get started!
Petpooja is a POS software provider that currently offers their services to over 45,000 restaurants. They pride themselves in their simple and intuitive software while being committed to innovativeness and sustainability.
Aside from many other features, their software is also programmed to facilitate good CRM for your brand. Petpooja helps to capture customer data and automatically sync it to the cloud to ensure that there is a seamless flow of data that is secure. They also display a guest’s order history to help your servers deliver a personalized experience for your customers.
In addition, Petpooja also allows your business to send out custom SMS to engage with your customers; ranging from advertisements, to birthday or event discounts and hot deals to increase interaction and incentivise customers to visit your restaurant.
- Loyverse POS
Loyverse POS empowers businesses on a global scale. They are engaged in over 170 countries and provide software that is available in more than 30 languages. With Loyverse, you will be able to convert your phone or tablet into a POS tool to help you manage your business from anywhere.
Loyverse allows you to create a loyalty program unique to your business extremely efficiently. With a few simple clicks, you can manage reward percentages for each purchase. The software also enables you to issue loyalty cards to your customers with barcodes for fast verification when they visit again. This greatly encourages recurring customers and encourages customer loyalty.
Furthermore, you can keep tabs on your customer preferences and have a detailed analysis on customer purchase history to build up a customer base. There are also many other features like employee management, sales analytics and multi-store management in order for you to keep close tabs on your business.
Don’t wait to get your POS solution. Start today.