The main objective of any business is to be profitable and to increase as much as possible. And for most companies, that is through boosting sales. Companies spend millions and even billions on advertising and marketing to increase sales, so growing by whatever means is essential for a business to become profitable. Although not directly a marketing tool, modern-day EPOS systems like SalesPush can help companies optimize their sales; this article covers three ways that can be done. So if we’ve piqued your interest keep on reading.
Make Business Decisions to Increase Sales, Based on Reports from Cloud-Based POS Systems
One of the most critical things you need to increase sales and profitability is knowing where your business currently stands and where it’s headed. That can only be done through daily, weekly, monthly, quarterly, bi-annual, and yearly sales reports. Also, reports like net profit and expenditure are essential to make informed decisions. Using such information, you can reduce overhead costs or automate features that require resources so you can save money in the long run. Cloud-based POS systems like SalesPush provide you with such reports to make the decisions you need to increase sales and profitability; we will elaborate this next with an example.
Suppose you’re running a clothing store, and through your reports, you find out that your sales take a dip during the spring and fall seasons. You can then carry out marketing campaigns and promotions targeted at lifting sales during that time. That is just one example; there are others we will discuss later on.
Point of Sale Software Can Optimize Stock Purchasing
The built-in inventory management function of most point of sale software can help you save time and keep track of individual items. That means that it can help you determine which items are popular and being sold more often and which have been lying around for an entire season or more. It can also represent this data in a report giving you a bird’s eye view of your inventory and its performance (sales). Using this information, when you repurchase your stock, you can focus on items that are sold more and purchase less of the slow-moving items and not purchase the things that don’t sell at all. On the other hand, you can also place discounts and run promotions on the items that haven’t sold in a long time – all factors work to optimize sales.
Use the CRM Functionalities and Integration Options of the POS System for Marketing
Although this is mentioned last, it is also critical to carry out the activities mentioned in the previous sections. The CRM functionality of a POS system allows you to inform your existing customer base of promotions that you run. Since you can save customer information that you have received through your website and what you have gotten through feedback, you can send promotional material to the people who have opted for it. You can run a discount or other promotions for your slow-moving items; however, it will not be of any use if people are not aware of it. That is where the CRM functionality of modern-day POS systems like SalesPush is invaluable.
Also, advanced point-of-sale software can integrate with bulk emailing systems like MailChimp. The POS can sync customers’ names and email addresses into a mailing list on MailChimp, allowing you to carry out email marketing efficiently to the people who have opted for it, indirectly working to optimize and increase sales.
SalesPush is a state-of-the-art point-of-sale solution with traditional functionalities such as itemized billing, invoicing, and inventory management. Its more advanced functions include add-ons to provide HRM features and integration options to connect directly with e-commerce sites and bulk emailing systems. If you are looking for an all-in-one POS system at a great price, get in touch with our representatives!