How implementing a point of sale system can help make your retail sales fast and furious.

All of the time and care you have poured into your new business is about to pay off. You are justifiably proud of your incredible products, stellar employees, and innovative marketing campaigns. And yet, there is still a missing piece, that final element that will pull everything together and cement your success: a modern point of sale system.

What is a POS?

If you plan to accept payments at your retail store or online, you need to have a solution that can efficiently and securely facilitate customers’ in-person and card-not-present purchases. At its foundation, this is what today’s POS solution does. However, it performs numerous other tasks in addition to doing everything necessary to facilitate accurate, secure card transactions from your customers.

In general, most POS systems are made up of some or all of the following components.

• A tablet or terminal with a customer-facing screen that you can also use when performing back-office tasks.
• Standard or contactless readers where customer payment data is entered into the system and transmitted to the processing company.
• Barcode scanners that can be used to enter each piece of merchandise when it comes into your warehouse in order to track its progress, ultimately ending up in the hands of your customer.
• Cash drawers.
• Receipt printers.
• Software that is the “brains” of the operation. It coordinates payments and the many other business functions your POS handles.

Believe it or not, it is this rather unimpressive-looking suite of hardware and software that will act as the X-factor to elevate your business to the next level. If you have any doubts about this bold statement, we challenge you to read on for proof of what your POS can accomplish to boost your sales.

Master of inventory management.

Ensuring that your products are in stock at all times to meet customer demand is essential if you want to attract and retain shoppers. By the same token, you can’t afford to have merchandise lying around that no one is buying. But as a busy entrepreneur, how can you possibly have the time to constantly keep your finger on the pulse of your product catalog?

It’s a good thing your POS is at your side. With a small investment of time and with the help of a barcode scanner, you can enter each item into your POS database as soon as it arrives. At the moment a customer purchases it, your system will record the fact that it was bought and even by whom if you have configured your system accordingly. In real time, you will always be able to tell what is being bought and what is not, and your system can even be set up to send you alerts prompting you to re-order popular items in plenty of time.

Customers are happy when you provide them with immediate gratification of their wants and needs. With your POS at the helm, you will always be in control of your supplies, ensuring that you provide consistent shopper satisfaction. The fact is that when people are happy, they buy more. They also talk about you in glowing terms to their social contacts, spawning even more potential purchases.

Repository of customer rewards and relationships.

Databases might sound like nothing more than humdrum storehouses of numbers or names, but in reality they are the heart and soul of your store. In addition to the database where product details are stored, your POS is also equipped to have one for your customers. One of your most important marketing duties will be to find creative ways to entice people to give you their contact details and other useful tidbits about their preferences and interests. As you will see, this is a veritable gold mine that can send your sales into the stratosphere.

Shoppers want to stand out; they yearn for the personalized buying experience that was once only available to the very wealthy. With the help of your POS and the details your buyers have provided, you can tailor each client’s relationship with your business. Use their past purchase records to shower them with targeted promotions; send out birthday coupons; invite them to members-only events designed just for frequent shoppers. These campaigns, combined with a fun and dynamic loyalty program, will strongly encourage your best patrons to come back and buy more.

Virtual employee manager.

Topnotch merchandise and happy customers are not enough to guarantee the flourishing of your company. Without happy, thriving employees who are an active, willing part of your mission and passion, your store will never reach its potential.

Yes, you guessed it: Your POS can help with your staff, too. With just a few clicks, you can use it to create reports that break your sales data down by worker. In a glance, you will find out who your top sellers are and what products are flying off the shelves. By the same token, you can see who is struggling, what your most difficult seasons and times of day are and which merchandise is languishing.

Armed with these details, you will now be able to reward workers who have excelled and provide effective feedback and training to those who are having difficulties. Often, you will identify emerging issues before they become full-blown problems, giving you time to come up with effective and compassionate solutions. Workers who feel seen and recognized — even those who are floundering — are far more likely to give you their loyalty and best efforts. Believe it or not, customers sense when a workplace is united and positive, and they respond by wanting to be a part of your business by bringing your products into their own homes.

It might not look like much, but your point of sale system truly is your secret weapon. Take advantage of all it has to offer, and you will soon come to realize that it is helping you to catapult your sales numbers and surpass even your strongest competitors.