7 Benefits of Point of Sale Systems for Small Businesses
What would a restaurant, clothing boutique, café, or any other small retail business be without the point of sale systems (POS) and credit card processing services? The answer: nothing!
These systems are essential for businesses that accept credit card payments from their customers. The benefits and advantages of using POS systems for your business are numerous.
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They help reduce the risk of unauthorized transactions or chargebacks and protect your confidential customer data against cybercriminals. But what is a POS system, and what are the advantages of having one? Read on to discover seven stand-out benefits of point of sale systems for your small business.
First, What Is a POS System?
Wherever you ring up your customers is the point of sale. Customers are at the point of sale when they complete an online purchase, approach your checkout counter, or choose a product from your stand or booth. The hardware and software of your point-of-sale system allow your company to make those sales.
Since all current POS systems are digital, you can check out your customers anywhere. A POS app and an internet-capable device, like a tablet or phone, are all you need.
Seven Benefits of Using a POS System
There are many advantages for a small business owner when using a POS system but here are the top 7.
1. Improves Your Customer’s Experience
A major benefit of POS systems is that they help improve the customer experience. If you plan to stay in business for the long haul, you want customers to have a pleasant experience whenever they do business with you. When purchasing services or goods, customers want to know their payment information is secure and private.
They need to know that it is not shared with anyone else. At the same time, customers expect prompt service and a positive experience when they come into your location. If you find it more difficult to process payments, provide positive customer experiences, or otherwise stay organized, it might be time to consider a point of sale system.
To support new consumer trends, cloud-based POS systems often update their software. This implies that as consumer preferences change, a reliable POS will keep your business current. With a POS, it is simple to take more well-liked payment methods including contactless, near-field communication (NFC), online, and mobile wallet transactions.
2. Establishes Your Brand Awareness
A benefit of choosing to use POS systems is that you can start building brand awareness. When you have a POS system that reflects your company branding will help you see an immediate impact on your customer base. People are more likely to remember your business because the experience will be consistent.
Because repeat customers account for anywhere from 30% to 50% of your total sales, branding is an important part of growing your business. Many POS systems allow for the addition of marketing-related apps and features. Or they may come with built-in marketing capabilities.
Email, SMS, social media, and other avenues could be some of them. The best POS systems may consider the purchasing history of your customer when presenting discounts, promotions, or other marketing communications.
Your loyalty program is an effective tool for retaining customers that promotes return business, more word-of-mouth advertising, and increased spending. Participants in loyalty programs often spend 20% more than non-participants.
3. Streamlines Your Marketing Processes
A point of sale system can help you streamline marketing and advertising processes. Using integrated marketing and advertising software with your POS systems will allow you a seamless plan and strategy for your campaigns. Customers will appreciate receiving relevant offers and advertisements.
4. Enhances Your Staff Collaboration
Yet another benefit of using POS systems is that they can help you enhance staff collaboration. This can be helpful when trying to create new marketing campaigns or organize special events. If you have employees who work remotely or in different locations, they can use the software to collaborate better with one another.
You can also use this software to create and assign tasks more efficiently, which can be helpful when planning special events and campaigns. If you find it hard to create consistent campaigns, you might need a new point of sale system.
5. Tracks Your Customer Feedback
Smart retailers not only gather client feedback, but they also pay attention to it and take appropriate action. You can do more with a POS system than keep an eye on your Yelp page. You can ask customers for feedback using a POS by sending targeted emails or in-store surveys following a transaction.
Customers can share their opinions by using the POS themselves. This is significant since 71% of clients stated they would post a review if the business made it simple for them to do so.
6. Helps in the Kitchen
Point of sale systems can help you gain transparency and control in the kitchen. If you are in the food and beverage industry, you know that these types of businesses face many health and safety regulations.
If you still use paper records or an old computer system to track sales, you may run the risk of violating some health and safety regulations. You also may not be able to accurately track and record sales.
With POS systems, you can track sales with accuracy. You can also create reports that are easier to read and understand.
7. Enhances Security for You and Your Customer
Another major benefit of point of sale systems is that they can help provide enhanced security for your merchant services. If you are in a highly regulated industry, like healthcare or pharmaceuticals, you know security is of the utmost importance. To keep your customers’ information secure, you need to have a POS system that complies with relevant regulations.
Also, you need to have a system in place that can protect your customers’ information from getting hacked. When you have POS systems that offer encryption and security, you can rest assured that your customer’s information is safe.
Are You a Small Business Owner Who Needs Point of Sale Systems?
There are many benefits of point of sale systems for small businesses. You may feel overwhelmed by the amount of responsibility that comes with owning your own business. At the same time, you may struggle to keep up with demand and maintain your daily operations.
We can help! We offer a variety of POS Systems for all your credit card processing needs on the Gulf Coast. Contact us or check out our Blog section for helpful information.
