How mPOS Helps You Track and Understand Your Target Market

We’ve finished another year full of tech and mobile advancements, and the New Year is sure to mean more change and improvement for businesses everywhere. Dedicated POS machines are losing their place in small businesses, and it’s time that you adapt. Mobile POS systems are the future—they’re compact, mobile, easy to maintain and provide a seamless experience for the customer.

Moreover, mPOS has one distinct advantage over traditional POS: it lets you gain a deeper understanding of your target market through real-time sales analytics and customer databases. Use this advantage to fine-tune your marketing by offering targeted specials and deals, making your customers happy and sending your sales through the roof.

See Who’s Buying What, and When

Using mPOS lets you track daily statistics on metrics such as sales of individual items, peak times, slow times and more. Know who your customers are, what they love to order, and when they love to stop by for a cup of coffee or a quick meal.

This type of information at your fingertips lets you run killer specials and market them instantly by printing customized text on your receipts, urging customers to come back for latte happy hour or half-priced Wednesdays. No more blindly guessing what specials might be popular, because you have that information right in front of you.

In addition to tracking customer information to run specials, you can access statistics on individual customers via mPOS. This lets you surprise a valued customer with small present on his birthday, or send a coupon to a regular for her favorite dessert.

Track Unique Daily Deals

Discounts and coupon codes can be tricky to implement if you don’t know what your customer base wants. Use daily statistics to see what sells and show appreciation by offering a deal for a menu favorite that they really love. Implement and track your own customized deals or coupons that you distribute with receipts, or track third-party daily deals such as Groupon or LivingSocial.

Instead of just guessing whether your daily deal was a hit, access your mPOS analytics to see how many people redeemed the deal and what days or times saw the most redemptions. This lets you judge how to handle future promotions successfully and continue building customer loyalty by taking great care of your market. It’s vital to keep your base happy and your customers coming back. Improving your customer retention by just 5% can up your profits by anywhere from 25% to 95%.

Maintain a Customer Database

Mobile POS systems like Instore let you keep build a customer database that syncs across locations, meaning your customers are still in the system whether they visit your main location or one of your hole-in-the-wall spots. Each customer database entry can hold information such as your customer’s name, purchase history or frequently-ordered items, associated credit cards, loyalty accounts, and gift cards. This valuable collection of information lets you track customer lifetime value and get a feel for which customer segments you should target.

Tracking database entries by an associated card makes your data collection more effective, as your customer doesn’t have to remember to present a loyalty card or ask the cashier to look up an associated phone number prior to making a purchase—it’s done automatically as soon as the customer pays. This convenience takes the pressure off your cashiers to constantly collect loyalty information, and it makes the process seamless for the customer.

Solicit Instant Feedback from Your Target Market

Customize your digital receipts to include a survey link, asking the customer for her honest feedback in exchange for a small token of gratitude, such as $2 off her next visit or a free item. Many customers will provide feedback on the spot from their smartphone before even leaving a store, or you can give them the option to take the survey in real-time on your store’s tablet device.

All of this is nearly instant with the right mPOS system, which automates market tracking to make your transactions seamless while collecting valuable information that you can use to your business’ benefit. Understanding your customers gives you an edge on the competition, provides you a boost when it comes to customer loyalty, and lets you maximize your marketing potential.

Valuable sales analytics have been used for years to the advantage of restaurant giants such as Darden, the company that owns Olive Garden and Longhorn Steakhouse. Major restaurants collect all kinds of information, from ticket times to length of service, customer satisfaction and everything in between. Thanks to mPOS, this level of data collection is no longer exclusive to major companies with tons of resources: you can collect and analyze data for your small or mid-size business, all with the help of a lightweight tablet loaded with the right POS software. The time to switch is now, so don’t hesitate.

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