What is POS Marketing, and How Can It Help Boost Your Revenue?Combining old-school techniques with new ideas can reap financial rewards.
A creative point-of-sale marketing plan – increasing sales at the point of purchase – is a staple of small business and restaurant environments.
An effective plan combines traditional POS cash register marketing with new ideas that are integrated with your tablet POS system. This combination is cost-efficient and almost guaranteed to increase business at little cost. One big benefit of POS marketing is that you can adjust your marketing tactics when a strategy gets stale or isn’t proving as effective as you’d like. Here are a few other key points to understand about POS marketing:
1. Cost is everything
A rule for traditional POS marketing is to sell inexpensive, impulse items at checkout. When a customer has a full cart, adding a few small items on top becomes a lot less burdensome.
“Greeting cards are a great last-minute purchase,” Brooklyn boutique Mind/Matter owner Elle Ditta says. The $6 handmade cards she displays at her registers are a best seller.
It’s also ideal to display smaller, less expensive items so that a customer who loves the store but is cash-strapped can make a purchase, whether the item is a small soap or pack of incense, she says – a win-win for customer and business owner.
2. Make it novel
POS displays are also a great way to introduce customers to new items or brands in your inventory. By changing displays and creating novelty in your checkout space, you’ll encourage more customer engagement.
“We mix it up at the counter – bath and body products, records or incense have all been great sellers there,” Ditta notes. Another consideration: Your vendors will often be vying for prime retail space. Offering the point-of-sale area can be a great tactic for creating lucrative relationships.
Another easy-to-use, low cost, effective POS idea is the “shelf talker” or “product talker.” These tags are attached to shelves, or other surfaces, to grab a customer’s attention — “Don’t forget the shampoo!” or “New arrivals!” These advertisements are commonly seen in all sorts of retailers including: supermarkets, convenience stores, banks, electronics, telecommunications, hardware and white goods stores.
Consider investing in a tablet-based POS system that allows you to send emails and receipts tailored specifically to a customer’s shopping habits. For example, an email receipt could offer a customer a referral bonus for sharing with friends or offer a discount code to incentivize further purchases. It’s highly effective to personalize, which one doesn’t get with traditional mass newsletters and social media marketing.
4. Use a loyalty program
Creating a loyalty program using email receipts through your POS system is a cost-effective way to encourage further business. Sending a personalized coupon or a reminder of how many loyalty points a customer has earned advertises your business every time he or she scans their inbox. Personalized email marketing can be set up through your POS system software. If it doesn’t work, you’ve not spent any extra money on paper marketing or on an employee monitoring your email marketing – making it affordable to try another idea.