Our newest Associate Partner One Step Retail Solutions offers some insight on why you need to integrate and update a Point of Sale system into your retail shop. Not just to track inventory, but to keep tabs on your customers.
“Many retailers we talk to do virtually zero marketing because it’s just so expensive and because they see so little measurable return from it. That’s often because it’s shotgun marketing. Marketing today is getting more and more precise every year and as an independent retailer you need to be riding that cutting edge to stand out. Think about Facebook; no, not about getting a Facebook page for your business, but about Facebook itself and how they market. They know your profile and so they put advertising on your sidebar that they know will have the highest probability of catching your attention. I hear Google even reads your email for keywords that they can profile you for advertising. I even read recently that certain television is trying to get to the point that they can track your viewing habits and present commercials accordingly! So how can you leverage this trend in your business and your marketing?
First of all, you do need to have a robust POS system that can hold large amounts of information about your customers because this is literally your invaluable goldmine. Studies have shown over and over again that it costs 5 times as much in marketing dollars to get a new customer as it does to re-sell to an existing customer. It’s easy to understand: someone who has already bought from you, who knows where you are and what inventory you carry and, given good customer service, would buy from you again. You just need to stay in touch with them and offer them things they will buy! Find out from your POS system what they have purchased in the past. Promote to them new items in the store from the same manufacturer or a special on that line. Or find customers who have bought boards, but not accessory items you know they could use. Get them coming back to you time and time again! (This is why Customer Loyalty programs work and yours should definitely marry up with your POS system.)”
– For more of One Step Retail’s whitepapers, webinars or to access our Smart Retail Internet TV series featuring specialty retail stores go to: www.onestepretail.com or contact firstname.lastname@example.org for consultation on your POS needs!