Do you think a business should really invest its money into a Point of Sale (POS) system? Numerous retailers as well as restaurants are increasingly moving away from standalone credit card machines and diving into the latest sophisticated POS Systems. One can therefore wonder if these systems are really worth spending money on.
Traditional credit cards are only capable of doing one thing- swiping your credit or debit card and then print out a receipt. For most customers, that is all they really need. But for merchants, they need more than the traditional terminal has to offer. The POS system has various unique options.
Common Features of POS System
• Loyalty Program
Whenever you offer a loyalty program to your customers, they are more likely to come back to your store for all of their purchase since they accumulate points in your business as loyalty members. The points can be used for free merchandise, for discounts or for whatever the business owner desires to set it up for. For instance, for every one dollar spent the customer gets one point. Once a customer has reached 100 points, they are able to receive a free product or 50% off their next purchase. These programs keep the customers loyal. This in turn increases the revenue of your business.
• Gift Card Program
Gift cards are a remarkable strategy when it comes to generating revenue for small businesses. A gift card program can cost a business owner very little. Depending on the merchant account provider, they can sometimes be free of charge. You are able to bank on someone who comes into your business with your gift cards. There are instances whereby the customers spend more than what is on their gift card. In this situation, the customers can pay the rest with cash or a credit or debit card. This results to more revenue for you. Most customers do not actually spend the entire gift card. More often than not, people forget to use the remaining balance on a gift card, especially if the balance is very little. This obviously means free money for the business owner.
• Customized Receipts
There are a lot of studies that have been conducted which show that customized receipts are able to bring in 20% to 25% more business than non-customized receipts. There are numerous merchant account providers that do customized receipts for business owners at no additional cost at all. There are some sophisticated systems which you can run on iPad. You can also monitor everything that goes on at your business remotely. This will enable you to manage your business in practically any location.
The above features are just but a few of the many different options that a POS system can do for your business. POS Systems are very beneficial to small business owners. The benefits of investing in POS system outweigh the expense. The ROI (return on investment) is tremendous. This system will make your customers to be even more loyal to your business. It will also attract new customers. The end result: more revenue for you and a mass of happy and loyal customers!