You’ve probably heard it before: “Work smarter, not harder.” At the time, it was probably uttered by some obnoxious know-it-all professor who was appalled by your late night study habits (or was that just me?). Today, it’s the technological mantra of every successful business.
With the birth of integration of iPad and tablet point of sale (POS) systems, digital records, online sales, and social media marketing, working smarter is easier than ever. But, for businesses operating without an integrated POS system, they are missing out on profitability and the best perk of technology—letting your systems do all the work for you.
Oh, and money. They might not realize it, but systems that aren’t integrated make it harder for business owners to use all that digital information effectively to increase sales or cater to client needs. Another cliché to throw at you, but no less true: Knowledge is Power. Or really, as has always been the case in sales—Knowledge is Money.
Aside from accepting payments, taking inventory, managing payroll and digital marketing – integrated tablet POS Systems are also used to record and combine information on various aspects of the business, most importantly product sales and client trends. This knowledge benefits businesses in the following five ways:
1) Understanding customer preferences
By tracking customer purchases at specific venues and locations, business owners can determine what products are most popular with certain clientele and the best ways to offer those products at the right time.
Some items may be more popular in the winter, some in spring. Establishing which items are seasonal can help businesses allocate money effectively. And if items are not selling at all, business owners can make the right decisions about how to handle those products without losing money over the long run.
3) Tracking marketing efforts
Plenty of businesses sink thousands of dollars into marketing every year, but establishing the effectiveness of those efforts isn’t always easy. An integrated POS system helps business owners monitor social media and email marketing, as well as connect trends in sales to their respective marketing sources. This way, owners can decide what works, what doesn’t, and what they might want to try the next time around.
4) Inventory monitoring
Unfortunately, many businesses lose money every year to internal theft or simply ineffective inventory tracking and mathematical errors. These systems prevent such losses through efficient inventory monitoring, offering managers up-to-date information on depleted inventory items so they can be reordered and so any discrepancies can be accounted for.
5) Customer Rewards and Incentives
Everyone wants something for nothing, but that’s not practical. But sometimes a small incentive or reward can go a long way in attracting potential long term clients. Built in customer loyalty programs within tablet POS systems provide great opportunities for businesses to establish cost effective routes for attracting new customers without offering up either big ticket items or unattractive ones that can waste marketing dollars.
Finding the right product for the right person at the right time is what business is all about. Tablet POS systems are specifically designed to help any business do just that, without wasting countless man-hours tallying up the information. Let technology work for you, then sit back and enjoy the rewards.