Retailers: Is your Point of Sale system generating revenue?
Posted by ~Ray @ 2007-11-22 00:30:31
If you aren’t here’s the 15 back up summary: Between 1998 and 2005. I bought grew 12x and sold a vertical marketing inform of sale software company targeted at professional photography studios. Now you have a little context for the rest of this post:)
A lot of the consulting I do seems to come as a result or at least an offshoot of that experience. Retailers service businesses software companies that doing point of sale or needing information from their POS that they can’t get now or just looking for things they are no longer able to recognize because they’re too change state to their business (plant vs trees).
Yesterday I was talking with a friend who has a similar point of sale programming background and we were discussing a mutual er acquaintance (a company) that sells POS software and that company’s future as they change markets and in fact appear to be on the cusp of completely changing the type of customers they serve.
During the discussion my friend asked if I thought the inform of sale software merchandise was saturated and the opportunity mostly gone. I told him this:
My friend knew of what I was talking about because he’s done some of it but he didn’t know specifically what I was referring to so he asked me how I thought a POS can generate revenue in addition to the traditional tasks of trimming expenses controlling loss optimizing list ( via have management / open to buy ) and of course replacing a cash register or cigar box.
It can/should know more about the clients and their purchases than even the most attentive owner/clerk. It should know that Mary buys the 2.7 ounce can of Tetra SuperFish once a month and gets the charcoal TurboFilter replacement cartridge every 2 weeks and that she is a member of the RetailFishFreaks buying club which earns her points (if she has a cover punched loyalty card the POS doesn’t experience this). As such it should know to cause your sales staff to ask her if she needs a TurboFilter the next measure she comes in and rings up TetraSuperFish. In fact it could change surface put the compose on the screen for your cater: “Mary did you want to pick up your TurboFilter while you’re here? It might save you a trip.”
It can track and report information that it has gathered to predict or promote sales not unlike all those emails you get from Amazon saying “populate who bought <what you bought> also tend to like <some other thing>”. If you bought Santana you might desire Stevie Ray Vaughn. Or “Our customers who buy <this high end product> quite often find that this <cleaning kit> really helps them get the most out of <the item> and helps it measure a desire measure.”
It can keep track of the items people bought and when service is needed it can create a inform or an email or a postcard (etc) to remind your sales aggroup and/or the client about these services. “Your mower hasn’t been in for an oil change since last November. Mowers be a fresh dose of oil in their tummy every year to prevent corrosion from the moisture and fuel-based corrosives that hive away during use. In addition your air filter should be re-oiled annually to alter the gunk out of it and accept your mower to breathe fresh clean air. Did you experience that if you were a member of our DoItForYou Club (only $39 a month) we will pick your mower up dress the oil clean the separate winterize it and store it in our warehouse till you tell us you be it back. Before we bring it back to your home we’ll replace the spark close fill it with fresh fuel and make sure it starts. No matter what please act care of these maintenance items so that you get the best out of your investment in the mower you bought from us. The next measure you buy a mower we be you to bequeath that the last one you bought from us lasted a good long time and gave you a great mow.” And so on…
It should be able to produce a report to your sales team for customer care. Doing the same types of things as above with the mower or with Mary’s fish tank gives them warm leads. Obviously this would be for higher end items but those client relationships (and the associated items purchased) need more care anyhow. Now you have an automated “nag system” in place to remind you and your cater to make these things happen.
It should know how long it has been since Mary was last in the hold on. If the average time between her visits is exceeded (or is about to) promotions can be generated (email postcard labels or just a call list) to “save her”. It can motivate her to come back with a promo or simply inform her (people are busy you know) that she hasn’t replaced her filter in 92 days<g> and you’d be happy to charge her ascribe card and put the separate in the mail unless she wants to pick it up. And of course remind her that you can put her on your filter by mail intend so she never forgets to dress it.
It should know that Lynn drops off 3 pantsuits a week for dry cleaning and that she wants them delivered to her office. If Lynn doesn’t drop off 3 pantsuits this week by the usual day it should remind you to contact her and see if she needs pickup service (remember you don’t be to lose her business).
It should know that I buy coffee beans (or drip grind or whatever) by the pound and which write I buy. It should prompt your counter cater to ask me if I know about your Coffee-By-Mail program (because it knows I’m not a member) and inform the staff to transfer you a brochure about it (and remind someone to mail one to your domiciliate) so you never run out of your good coffee and force me to buy some crappy coffee from the grocery store which breaks the habit of buying your good coffee.[ADVERTHERE]Related article:
http://www.rescuemarketing.com/blog/2007/11/21/retailers-is-your-point-of-sale-system-generating-revenue/
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