Yes, mobile point-of-sale systems are the biggest retail trend of 2014 but don’t
dismiss it simply because of that. There are many reasons why it’s trendy and a
good many of those reasons apply to you and your business. Hear us out and
then see if we’ve addressed your objections. Fair enough?
1. More affordable than a standard computer-based point-of-sale system.
Mobile POS systems cost about 50% to 70% less than a standard PC-based
POS system as an initial investment. Technical support, operating and
troubleshooting are included so on-going costs are minimal. For example,
let’s say a PC-based POS system is $20,000. The comparable mobile POS
would be between $10,000 and $14,000, shaving your payback period by the
same 50% to 70%.
2. Lower your credit card charges. Mobile POS uses standard Apple iPads,
iPods and/or iPhones and simplifies the types of transactions accepted so
your charges are less expensive from swipe to deposit.
3. Flexibility to update, change devices easily and less expensively. When it’s
time to update a typical POS system, it means an upheaval to your entire
business that could last days. Working with mobile devices such as iPods or
iTouches makes it easy to swap out and continue with the workday, no
problems.
4. No disappearing operating systems (XP anyone?). Mobile POS hand-held
devices are standard-issue Apple tablets, iPods and iPhones so there is no
end of support to handle.
5. Quicker service, accurate totals, fewer errors or lost orders. Taking
orders faster with accurate calculations improves your bottom line.
Automating your ordering system also ensures your staff is making fewer
errors and orders for food, services or merchandise cannot slip through the
cracks or under a cabinet. All of these improvements add up to great
customer service.
6. Line busting. Everybody hates standing in line, especially when all they want
to do is order or pay. Rather than having customers to stand in line, you
process them where they stand – a practice fondly known as line busting.
Untether your cashiers or order takers with mobile devices to minimize the
time people stand in line, turning your customers quicker and eliminating
impatient ones.
7. Simplified daily cash out. Since all orders, refunds, returns and credits have
been tallied real time all day long, batching or cashing out is much faster and
any discrepancies are easy to spot and resolve without looking through the
receipts manually. Maintain better records daily to make monthly and
quarterly tax and withholding reporting a breeze.
8. Better sales tracking and remote monitoring. Spotting surging or waning
buying trends by looking at what’s moving the fastest helps you stay on top of
your inventory and not get caught flat footed, either with too much of one
thing on hand or not enough of what’s hottest in stock. Best of all, since all
your data is based in the Cloud, you can access your sales and inventory
numbers from home, at a conference or on the day you slip away for some
much-needed R & R. While working IN your business, you also need to be
able to work ON your business. Mobile POS lets you access data while you
are working on future business planning regardless of where you are.
9. Gift card and loyalty programs. No one needs more sox; a gift card to an
unusual or favorite shop or restaurant is always welcome and most
appreciated. Portable ordering and payment creates a more intimate,
personal experience between customer and server/clerk. Capture an email
address for electronic receipts and you have the perfect base for promoting
your business, encouraging frequent return visits and suggesting gift cards for
giving. Gift cards are the most popular item on everybody’s gift list and
studies have shown that gift cards and loyalty programs boost repeat visits
and attract new customers. You really can’t lose with this one.
10. The beginning of Customer Relationship Management (CRM). Larger
companies know the importance of capturing and cultivating customers – the
say is that it’s cheaper to keep a customer than it is to bring in a new one.
This also applies to smaller businesses that aspire to be larger. Since you’re
doing a better job of tracking your sales and getting email addresses, you
have the beginning of a rudimentary CRM right within your mobile POS
system. Send an email to let people know you’re running a special. Run a
contest with free dessert as the prize. Publicize your new outdoor seating
areas. Track frequency of visits and send a “we miss you” card if they haven’t
been in for two months. You have all the tools to manage and expand your
business at your fingertips.
11. 15 minute training. Your clerks and servers will be up to speed and
productive in 15 minutes tops. Virtually all teens to retirees are adept at
handling some type of portable electronic device. The steps for ordering and
processing payment are so quick and easy, even children could handle it.
12. Welcome Micromerchants. Small volume or seasonal businesses have
customarily been ineligible for credit card processing because the equipment
was costly and setting up the accounting was expensive so merchant service
providers weren’t willing to accept them. The mobile POS boom opens
processing to these smaller merchants at craft fairs, home repair service
vendors or even the guy who delivers your firewood because there is no
costly equipment to buy and the processing required by merchant services is
streamlined.
So now what do you think? You may have some “yeah, but….” thoughts still
rolling around. If so, please give me a call at 585-704-6453 or email me at
mike@SalesSensePayments.com so we can talk about them right now.