Revenues and profits will determine two of the most important indicators of the successes of your business. Profitability tends to be the more critical indicator of the long-term success and viability of your business. Compare revenues to other businesses in your industry to show market strength. Having increasing revenues demonstrates market demand.
Increasing profit margins involves managing expenses and controlling costs. People generally think of touchscreen POS terminals as the last stage of the sales cycle. However, the reporting software that runs on touchscreen POS terminals provides the robust reporting options that you need to improve the profitability of your business.
Reduce Transactional Errors with Touchscreen Displays
Saving time means more time to focus on making sales through customer engagement. Customer-facing touchscreen displays allow the shopper to view all their purchases and subtotals before they pay, which means fewer voided items. Voided items are one of the main contributors to product shrinkage.
Ever speak to a sales associate who has to check to see if a product is in stock? On-screen displays for POS technologies show inventory in real-time. Not only can the sales rep be more confident about inventory status, but if a product is out, they can immediately offer another product that is in stock. You can take photos of your entire inventory or menu items that the customer can view and select right on the screen, helping to ensure that you don’t lose a sale just because of the unavailability of a particular item or product.
Touchscreen POS Terminals Create Remarketing Opportunities
Business owners are great at coming up with unique ways to advertise their business. It seems like the possibilities are endless, and the level of creativity knows no bounds. More companies are entering into marketing agreements with other businesses. The recent economic downturn has led many to begin sharing resources and space to lower expenses and increase profits. How much thought do you put into harnessing the power of the touchscreen pos terminal itself to increase profits?
Touchscreen POS terminals add new passive marketing to your cash wrap, POS counter, or restaurant. You can program the customer screen to scroll general storewide promotions. Once you set-up an email entry on your POS, you can create client types by age, sport, or food preference, for example. Backend functions allow your POS to ID the customer. The cross-merchandising deals that the customer most likely will want pops up on the screen during the transaction. POS terminals can increase profits in many unique ways.
The best of cloud-based POS systems now give small businesses scalable solutions that, for a long time, only large corporations had access to. Customers can sign-up to receive text messages for your next marketing campaign. Email lists keep your customers in the know about topics that matter to them and products and services you sell.
Sleek Visuals Make a Customer More Likely to Buy
Consumers are accustomed to attractive visuals and menus that are easy to navigate when they shop online. Visuals make for an easier sell. High-resolution photos depicting multiple angles of a product lessen the need to enter a store in person to buy what you want. You can replicate that experience on your store’s touchscreen POS terminal.
POS customer-facing displays are designed to be fast and easy to use because of intuitive menu options. Customers walk in for a personal experience and tap on the screen for one of the multiple payment options to complete their purchase. For the items that are not currently in stock, they can place an order and schedule to pick-up the item in the store once it ships.
Increase Profits with POS Operations Management
Cloud-based POS terminals give you access to the data you need to increase your profits. Before companies like Talech, POS data was either not measured or was not easy to access. Now, touchscreen POS terminals do much more than help you complete daily transactions. The analytical reporting features provide you with much more information about the nature of your business.
Sometimes it’s a matter of not trying to figure out how to get more customers into the door, but improving the experience of those you already have. You might want to ask, “How do I improve the average value of the sales I’m already making?” Evaluating the cost of goods sold report, expenses, and much more with a reputable POS solution such as those created by talech can give you more insight into the inner-workings of your business than ever before.
When you partner with talech for your retail technology needs, we devote our time to identify your business challenges. We use this information to work with you to apply an innovative POS solution that levels the playing field—like implementing touchscreen POS terminals. Reach out to us today to sign up for a demo and to learn more about how talech can be your valued POS partner.