How to Use Your Point of Sale to Boost Loyalty and Maximise Sales

It costs five times as much to acquire new customers than it does to keep current ones. This is why customer loyalty is one of the most valuable assets to your business. However is there an easy way to build customer loyalty without breaking the bank?

4 min read

With challenging economic times upon us, loyal customers could be the saving grace for retailers big or small, new or old.

Business owners are now operating on tighter budgets so building new systems to improve loyalty may appear unrealistic. With 80% of your company’s future revenue coming from just 20% of your existing customers it's time to get serious about building your retention strategy.

What if there was a way to encourage customer loyalty already embedded in your business?

How you can use your Point of Sale to boost loyalty and sales.

Incorporating an EPOS system within your business will transform your sales, allowing you to recognise loyal customers and build marketing campaigns that encourage them to buy more.

The two main features that will allow you to nurture your customers are Customer Accounts and Loyalty Schemes.

With Customer Accounts and EPOS Loyalty Schemes, you can rewarding customers like never before, ensuring they come back for more. There are companies that allow you to outsource these features however to see their true benefit and build a scalable business you will want to have them integrated into your system.

In the long run it will be much more cost-effective as there will be no hidden costs and sticking with one company you already trust and have a relationship with.

So how can these features actually increase sales?

Allow flexible payments

Once you’ve recognised your loyal customers, allow them the greater flexibility in their payments. With customer accounts, you will be able to create a buy now pay later system enabling your customers to buy higher ticket items but pay over a period that suits them.

More than ever the public is more cautious of their spending; you will want to give them options so as to increase their buying confidence. Also, it’s been found that customers appreciate a business who recognises them and their needs.

Having customer accounts & flexible payments shows your customers you understand and care about them.

Build smarter loyalty schemes

The time of simple loyalty stamp cards is essentially dead for the modern retailer.

Customers value rewards and often will make repeat purchases, however, they will not be loyal until you can offer them a personalised and authentic experience. This can be done with the help of data from an EPOS system.

This will enable you to build stronger, more meaningful bonds with your customers, in turn, ensuring their long term loyalty.

Cloud-based loyalty schemes are a more sophisticated way to reward your customers. Rather than generic offers after a certain number of purchases, you can create tailored offers based on their previous purchases.

It’s been found that the three top satisfaction drivers in loyalty and rewards programs are the appeal of the rewards, their ease of use and their point for pound value. It’s crucial that you build an offering that will actually appeal to your customers and give you the edge over your competitors.

It was discovered in a recent study from over more than 10,000 participants that 70% of customers would change their shopping habits in order to gain the largest rewards from a loyalty program.

It’s clear there is demand for loyalty schemes. Your job is to target your specific customers and put incentives in front of them. All of this can be done through the right electronic point of sale software.

Gain valuable customer feedback

When you integrate customer loyalty schemes into your business you are opening a line of communication with your customers having their data within your POS.

Why not use this opportunity to get feedback from your customers on how to improve your offering. Not only will this give you a valuable insight but customers will appreciate that you have taken the time to hear from them.

Building a strong loyal customer base is not a one time fix, it requires constant updates and attention. Feedback from your customers will make your job a whole lot simpler, gaining insight that enables you to not only retain current customers but also appeal to new buyers.

Build referral programs

Why not reward your customers when they refer your business to their friends?

Studies have shown that referral marketing is one of the most effective ways to build a strong customer base. It makes sense, your existing customers will only promote your products or services to their friends and family if they genuinely think that they would be interested.

This saves you a lot of time having to profile potential customers, your current customers already know their connections interests and preferences, therefore, referrals will be highly qualified.

The question is, how can you encourage your customers to refer your business to their family and friends?

Through your Point of sale, you can offer special discounts and money off to those who have been recognised for referring your business to others. Upon purchasing, new customers should be asked how they discovered your business and if through a referral they should be marked in your point of sale database and in turn rewarded.

But why wouldnt I stay with my traditional system it's cheaper?

Although you can incorporate these systems into traditional set up you will not see the full benefit that you would with a cloud-based point of sale.

You will not be able to personalise your offering and give your customers true value which is fundamental in encouraging repeat purchases.

It’s a well-known fact that 80% of a business’ revenue comes from 20% of its customers therefore if you want to see a boost in your sales you need to place importance in rewarding your current customers and building their loyalty.

If you are serious about increasing your loyalty and building a scalable business model this these are the changes you must consider.

Being in the business for a decade we have seen how valuable loyal customers can be to a small business, in some cases saving them from closure during difficult times.

Our customers at Comic Book Guys were operating a much more traditional system before introducing AirPOS Pro and now they have been able to reward their loyal customers and also get the edge over competitors building enticing offers.

If you would be interested in getting started with AirPOS Pro let us know through our contact form or if you would like to learn more about our Pro features you view our AirPOS Pro Page.