Retail marketing is constantly changing and can be challenging, but don’t forget that your point-of-sale (POS) system has some power-packed tools that can help you keep your marketing efforts on top. Here are 5 tips that can benefit your retail business.
1. Customer Satisfaction with Loyalty and Referral Programs
Studies show happy customers spend more, and are loyal. They also tell their friends. That’s why it’s always good to say “thank you.” Your customers will be delighted to know that they can earn points that translate to bigger rewards just by purchasing items they were going to purchase anyway, and most of the time they buy more just because of the rewards. Make sure to utilize your POS’s data to determine the structure of your reward system. What products in your shop are great sellers and might be incentives for points? Which items do you want to move? Perhaps those items have a small amount of points needed for a reward. Don’t’ forget to give big rewards for those who refer friends who spend. And don’t worry, your POS will keep track of everything so you can evaluate your progress along the way.
2. Target the Right Audience
When someone asks you who your ideal customer is, what do you say? If you say, “everyone,” you are wrong. It’s best to pinpoint your specific customer and then find more folks like him or her. Before you spend on social media, TV, radio or online ads. Find out more about your customer. Pull data from your POS to see who shops with you currently. How old are they? Where do they live? What is their income level? What items do they typically buy? Where do they hang out? If you can answer these questions, you’re on your way to targeting the right audience that will increase your sales.
3. Provide Value in Your Emails
It can take time to build an email marketing list; however, in today’s marketing world—your list is your goldmine. Try to provide valuable content instead of sending emails that scream, “Buy my stuff!!” For example, if you want to sell scarfs. Give tips on how to wear scarfs, then ask for the sale. Additionally, evaluate your email open rates, subject lines, and sales with your POS. What buzz words typically get the most open rates? What types of email content gets the most attention? Then do more of what is working.
4. R U Texting?
Consider building a text (SMS) list with your POS. Keep in mind just because someone opts into your email list doesn’t mean they want texts too. Be courteous and ask. Your customers will appreciate it. Reports show that 95% of texts that are sent are read. Your most loyal customers will be on your text list. Maybe you’ll want to kick up the promotions a bit on this one, but you’ll want to also be sure to have a strategy in place for promotions, frequency of texts, and how your sales staff will redeem text message promotions.
5. Upsell at the Check-Out
When a customer makes a purchase, how do you go about adding to the sale before you complete the transaction? Your POS can remind the cashier to ask for the upsell. “Would you like to add a $5 item to your purchase?” In this case, it’s nice to have a display right next to the counter if not on the counter displaying the items. Other small items placed near the point-of-sale are also key to impulse buying. If your employees know the sales that week they can remind customers. “Did you see that we had the buy-one, get one turtle-neck on sale? It would go great with these jeans you are already purchasing.” Even if the customer doesn’t buy, a little nugget was placed in their mind. Who knows, they might come back after thinking about it for a day or two.
There are many other ways to utilize your POS in your marketing efforts, but if you start with these ideas you’re sure to be on your way to soaring sales. For more info about how a POS can help with your marketing efforts, give Bepoz a call.