For businesses that have an online and retail store and want to manage them simultaneously to reduce hassle and errors, Point of Sale (POS) systems are your ultimate solution. POS provides a place where transactions are carried out. Moreover, it also manages multiple backend operations, such as inventory, employee, and customer management to ensure a smooth shopping experience for both online and offline users.
But that’s just not all it can do. POS has been successfully used and implemented to increase sales with digital marketing. Its software component used both in online and offline stores can create powerful incentives for your customers, urging them to buy. Once you get your customers to the shop or website, strategically placing products near the checkout line or the cart or checkout page can lead to impulse buys and thus greater order value.
In this article, we will discuss the impact of POS digital marketing and how it benefits your online business.
What is a POS and How does it Work Digitally?
When we say POS, people instantly think of cash registers at the checkout lines for processing payments and transactions. But now they are more than just that. POS systems have gotten completely digital in their approach. Now you can process payments and run your business from anywhere.
POS systems help manage finance, inventory, customers, and also provide detailed sales reports to see how your business is doing. And just a glorified cash register wouldn’t be able to do all that.
How does it work online? When a customer decides to purchase a product and proceed to the checkout page, a POS system can provide multiple payment options for added convenience and easily run the transaction process. Once done, a receipt is generated. A POS system also helps in strategically placing products throughout the checkout process for cross-selling and upselling to increase the order value.
Developing a POS Marketing Strategy
Since we are talking about POS systems in terms of digital marketing, let’s first discuss what it means. A POS provides a place where your customers can review and pay for their products, thus in terms of digital marketing, it provides an area of interaction and opportunity for business owners to recommend products and entice customers for last-minute purchases.
And like every marketing strategy, a POS strategy needs to be devised and implemented for it to work effectively. For POS digital marketing, you need to encourage impulse buys, thus there are few things you need to create your strategy around. Such as:
- The recommended products should be displayed attractively and highlighted throughout the checkout page.
- The items should be low-priced.
- The items can be bundled or on-sale to promote instant buys.
- The placement of the product on the checkout page should be optimized and use attractive headlines or badges to promote.
By following these tips, your chances of sales and average order value increase greatly.
Benefits of POS Digital Marketing
There are many benefits, both for the business and the customer when it comes to POS digital marketing. Let’s discuss them in detail.
1. Flexible Software
If you want to increase the visibility of your site, you need to create a customer-centric store that is up-to-date with the recent trends and needs of your customers. A POS system provides just that. Its software is routinely being updated and new advanced features are enabled. For example, you can offer your customers multiple payment options, live chat support, email notifications, and a simplified checkout process, all through your POS system.
This makes your cash register extremely flexible and personalized for your customers, resulting in a positive customer experience and also increasing the efficiency of your store.
2. Increase Sales and Conversions
A POS system provides your customers with an optimum shopping experience which ultimately leads them to become loyal customers and increase conversion rates. Even besides these obvious facts, a POS system provides convenience to both your online and offline customers, personalizing their purchases, recommending products, and getting them notified throughout the shipping process, which leads to customer retention. This ensures that your customers would always pick your business for future purchases.
3. Simplify Payments
Another way to market your business through a POS system is by providing your customers with multiple payment options to offer convenience and cater to a wider customer range. Nowadays, POS systems can handle in-person, cash, credit card, debit card, and mobile wallet transactions easily.
Moreover, the payment process itself is fast and secure. Thus, reducing the chances of cart abandonment greatly.
4. Upselling Opportunities
As your customers have reached the POS point, they are already willing to buy from you and could buy more if the right incentive is offered at the right time. Here is where your POS system comes in. At the cart and checkout page, you can recommend related products to your customers depending on what they have in their cart or based on their past purchases, all information that a POS system creates for each customer.
This helps in personalizing the shopping experience and increasing customer satisfaction and trust.
5. Offers Coupons and Discounts
One of the major benefits of using a POS system is that you can use it for promotional management. An online store employs many deals and discounts to create incentives for its customers and increase sales and conversions.
It is very easy to run promotions with the help of a POS system. You can select the products on sale/deal, set the duration of the sale, and promote it on-site. You can also offer coupons and create BOGO deals or subscription offers easily. Not only it reduces the hassle but also helps you manage and control all your promotions on a single dashboard.
6. Provides a Loyalty Program
Besides coupons and discounts, there are other ways to gain the attention and satisfaction of customers. And this is through a loyalty program. A loyalty program requires more effort and the results are not instantaneous but it is great for customer retention and increasing their lifetime value.
Many businesses employ a reward point system, where they set certain actions, whose completion will add points to a customer’s account and they can redeem them for a reward, such as free shipping, free product, etc. And with a POS system, not only would you be able to employ a loyalty program but your customers can easily run it with an easy user interface.
7. Provides Detailed Reports
Every digital marketing strategy has the same last step, and that is analyzing the results of their marketing campaigns and if they are well worth the effort or not. One of the valuable features of a POS system is the advanced reports and real-time data provided regarding business sales, customers, and marketing campaign performance.
With these reports, you can manage multiple aspects of your business and find out best-selling products, best employees, inventory management, loyal customers, and much more.
All the above-mentioned benefits should be enough to convince you that your online and retail business needs a POS system to improve marketing and sales. A POS system is more than just a glorified cash register, it is your store manager. From inventory, customers, to promotional management, a Point of Sale system does it all.