We’re already two months into the new year – where does the time go? As a business owner, you’ve probably set goals for your company’s growth this year. Goals are great, but a goal without a plan isn’t going to produce results.
If you’re hoping 2021 is your company’s year for a growth spurt, it’s time to upgrade your customer analytics software. Modern POS software can help you ensure you hit all of your business goals, without needing to add hours of extra labor to your already overflowing plate. Let’s talk about how a POS upgrade can help you fine-tune your customer analytics and propel you into a successful year.
Ready to make the change and grow your business? Let’s chat.
Customers Analytics Are Multi-Functional
POS systems have the capacity to do so much more than just process payments. They contain a wealth of information that allows you to capitalize on your business’s strong points, hone operations and save time on your day-to-day tasks. Here are a few examples of the useful insights a modern POS system can tell you:
Do you know which of your products sell best? When your customers purchase a product, it’s automatically tracked in your POS system. You can run reports for any time period and find out what’s selling and, if applicable, what location they’re selling at.
It’s important to stay on top of your inventory to ensure you’re able to meet customer demand. With the ability to run specific product sale reports, you can easily track your store’s inventory – making the process of ordering product (and knowing what product to order) simpler than ever. After all, you can’t effectively manage inventory if you don’t know what customers are buying.
POS analytics can also help us forecast future demand by looking at patterns in past sales growth. This can help your business to better prepare for events such as holiday sales and promotions.
Are your promotions yielding sales? You can identify opportunities for sales growth in your business by looking at which of your promotions have been successful, and at which locations. By analyzing the performance of your promotions, you’ll be able to better identify and capitalize on your strong points while also developing new marketing ideas.
When does your business experience the most traffic? A modern POS system can break down your hourly sales and give insight to the exact times your store is busiest. This can be vital in ensuring that you’re prepared to service a rush during those times – resulting in happier (and likely impressed) customers.
Anticipate Staffing Needs
Predictive planning can help you to anticipate staffing needs. Being able to allocate employees appropriately can improve your operational efficiency and customer service.
Identify Potential Fraud
While you never want it to happen to you, with any checkout stand there is always a potential risk of fraud. Your POS system can track the amount of times a cashier overrides a sale, which can make it easier to identify patterns that are out of the ordinary.
In the same way, you can track employee performance with the ability to view reports from specific checkout stands or shifts. This can be especially helpful for internal incentives!
Get Customer Analytics From Your POS System
As you can see, a POS upgrade can provide helpful customer analytics that will help ensure your business reflects your growth goals for 2021. But how do you find the best POS system for your small business? With so many systems available, it can be overwhelming trying to find the perfect answer. Luckily, the experts at Cornerstone Credit Services have done the work for you.
After thorough research, our team is proud to stand by Clover POS – a modern system designed to make operations as easy as possible. From online ordering and contactless payments to gift cards and loyalty programs, Clover can enable your business to grow by streamlining your performance and maximizing your marketing efforts.
Ready to optimize your customer analytics and reach your 2021 goals? We can help.