Big data

mPOS Data Insights That Help Small Businesses Thrive

In addition to the improved in-store customer service that mobile point-of-sale systems provide, there is also ample opportunity to collect data on buyers that can continue your interaction after the transaction has ended.

A Forbes Insight and Rocket Fuel survey found that data used smartly results in happier customers, more loyal clients, and bigger profits. So how can you be smart about your collection and use of data?

Build a customer loyalty program that helps you track purchases and preferences

A mobile POS system like Instore makes it easy to link a customer’s credit card with a loyalty program, avoiding the clutter of loyalty cards or the extra step of a cashier asking for a phone number before a purchase. Make your customer a known quantity no matter which branch of your restaurant or coffee shop they visit, and offer them gift cards and incentives related to their purchase history. Have a regular who loves mocha lattes? Send her a coupon for a free one on her birthday. Or forward a discount offer to another regular you haven’t seen in awhile. The opportunities for positive interaction are endless.

An mPOS customer database can include information on birthdays, contact information, related credit card numbers, and buying habits, all of which help you create a complete picture of the customer and stay close to the ideal one-to-one relationship. Finally, you can use this valuable customer data to track customer lifetime value, a key metric that helps you identify which market sectors to target.

Integrate an email marketing program

An mPOS system allows you to offer a digital receipt instead of paper. Customers like this alternative because it saves waste and makes returns easier. Retailers like it because it’s proven to be a simple way to begin to build a personalized relationship. Giveaways and promotional offers provide other opportunities to encourage customers to provide email addresses and other information about their purchasing habits.

Pay attention to your customers’ interests and desires, and send targeted offers and content designed to please them—which is simple if you’ve already integrated a loyalty program. You can then measure how many opens, clicks, and redemptions are coming from each email newsletter, and tweak your messaging accordingly.

Gain insights into what’s working and what’s not

The wealth of data an mPOS system can collect doesn’t stop at a customer database. Use the system to track peak times and slow times, monitor inventory, and figure out which products are selling and which are lagging. All of this information allows you to efficiently and effectively track your target market.

Mobile POS systems even let you keep tabs on what an individual customer loves to buy and when. This information can help you design coupons that really work—for, say, a meal that a customer really loves or a dessert he tends to indulge in. These coupons can be shared directly with the intended customer at the bottom of a receipt or by email. And mPOS takes the guesswork out of wondering whether your incentives worked by allowing you to track your daily deals, even the ones created through third-party sites like Groupon and LivingSocial, and to solicit feedback from customers in brief surveys tied to incentives.

Track employee productivity

Finally, an effective mPOS system makes employee scheduling and payroll a breeze, and you’ll save on payroll inefficiencies by using your mobile POS system as a time clock.

But the benefits to you and your staff run deeper. An mPOS system like Instore can help you monitor your staff to reward people who are doing well and to identify gaps in knowledge so you can plan your training accordingly. Track sales highs and lows by employee and, since staff turnover is often brisk, help your employees learn your menu with clear, immediate information at their fingertips.

In an industry that sinks or swims on customer service, it’s clear that mobile POS systems offer a lot of new ways to maintain a positive interaction with your customers, even long after they have left your restaurant or coffee shop. Customer data can be your friend, and with an intuitive point-of-sale system designed to make sense of the information, you can make interactions with your customers and employees more personal, efficient, and productive.

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