Loyalty certainly pays off in the end. Many types of research display the scenario where old customers are willing to spend 33-34% more than the new customers, provided that they are loyal to your organization. Thus, a business person can conclude that the major profit happens from those loyal customers.
Customer loyalty is the customer’s readiness to purchase service and products from the same brand again and again. What makes them do so is nothing but a motivation factor that they are receiving besides the service/product. It also compels them to stick to a certain brand.
The little extra effort by brands though their POS Billing system provides value to the customer and they feel happy and satisfied to purchase from that company. Let us explain it all one by one.
What is the Customer Loyalty program?
The extra value that customers gain if one wishes to be presented in a structured way, you are supposed to present a customer loyalty program. This program is super beneficial if a company wants to retain customers for a long time. It keeps them adhered to your service.
The idea is even better when integrated with your online billing software. It’s super easy to implement and exhibits a long-lasting relationship with your customers.
What is POS?
A range of marketing and management skills is required to operate a retail business. An efficient POS billing system ensures that there are enough arms bundled together that can handle everything necessary to run the business smoothly.
A point of sale System (POS) is an environment where customers pay off for products and services they purchase at your store and at the same time they complete a checkpoint. This checkpoint is a point of sale transaction that decides customer loyalty.
How does the POS system support the customer loyalty programme?
To track your customer’s activity, you will need software. The functionality built in your POS will help you acquire the payment checkpoint a customer has crossed and thus help you find out the reward they deserve.
A nice POS billing system is more than a checkout application as it centralizes the data from multiple sources to help the store owner decide. It also keeps an eye on your sales, stock and gross profit. Such things make it ideal for the customer loyalty program, since you will be able to keep an eye on every customer’s transaction history.
The customer loyalty program, in most cases, involves a point system where the more they purchase from you, the more points they earn. These points are converted into promotions or discounts that customers can apply on further purchase.
The POS system can easily figure out what your customers have paid for so far and assign a loyalty point which when earned enough can be converted into vouchers.
Apart from that, A POS system does more than running a customer loyalty program. It can help you measure the progress of your program by taking the benefit of customer data and sales data passing through it.
Tips for a successful customer loyalty program using POS
A strong relationship should be built with the customers in order to repeat things. A POS should have a CRM that can track customer data. If your POS billing system will be able to attach a transaction to a customer, keep an eye on the customer’s purchase history, store customer information, and use email marketing to interact with them, it will certainly lead to a successful customer loyalty program. Here are some tips:
Make thing easy for the customers
If you want your customers to adhere to your loyalty program, make things as painless as possible. Getting rid of physical loyalty program cards and tying the customers to their loyalty program profile directly in your online billing system can welfare both of you.
If a customer peeks into the card data every time to check loyalty points, it will bother both of you for sure. Automation in earning points can wave off the extra step of card and also, your POS will decide an important purchase that deserves promotional rewards.
Track customers online as well as offline
For Omnichannel retail, it is important that you keep a record of their online as well as offline transactions and also make sure that they aren’t interrupted while enrolling and redeeming points. If getting registered for the program is a hassle, you will end up losing the attention of the customer.
Use email and SMS messages
Almost 70% of customers approach you back when they receive offers and promotions. If you have heard the word spam, you might now think how difficult it is to let the customers see the offers. Major successful loyalty programs push the offers via emails as well as SMS, which makes it easily capturable.
It is equally important to keep a check on employees as well. Their performance can deeply impact the customer loyalty program.
The POS ability to set a sales target for every employee, track the weak employee by setting up extra coaching to train them can help in success of customer loyalty program, provided that your software should give you the ability to do things like adding an employee to the system, make modifications in their schedule, track them hourly and weekly and gather some top performers.
Rewards based on their preference
Email and SMS are limited, doesn’t matter how well they are designed. Offerings are a part of a loyalty program but to make a personalized connection with customers, let your POS decide what a customer is fond of purchasing, what products and services, they often check out at your store based on the customer’s past interactions with your store.
If rewards are strictly based on that, your customer loyalty programme achieves more.
POS is an important part of business, especially when it comes to the success of the customer loyalty program. Having an advanced online billing system with the above tips followed can increase sales from old as well as new customers. With that in mind, you can simply start implementing things. Good Luck!