Benefits of adopting a customer loyalty program using POS systems

A loyalty rewards program is an excellent way to keep consumers engaged and inspire them to return. According to research, 83 percent of shoppers around the world consider loyalty schemes when choosing where to shop. But did you know that if your customer loyalty program is not incorporated with your POS scheme, you are restricting your return on investment (ROI)?

Here are a few compelling reasons to combine POS and customer loyalty programs to optimize the company's benefits:

More Valuable Information

When you use an integrated network, all your systems and apps share data. While loyalty data is valuable on its own, when combined with other data from the point of sale, it can provide deeper insights. For example, with an automated system, you could easily figure out what your most loyal customers are buying, allowing you to predict more accurately and prevent stock-outs. Furthermore, data from an integrated system provides you with a comprehensive, real-time view of your market, which is nearly impossible to achieve with non-integrated systems.

Intelligent Marketing

If you have access to the right info, your loyalty program can also be a powerful marketing tool. You can make customized deals to loyalty program members and expand your company by matching sales data with customer loyalty program accounts. According to a study, 80 percent of customers choose to do business with a company that provides personalized service. A loyalty-POS system that is integrated can also mean better marketing in general. When customers sign up for a loyalty program, they have basic demographic details, which you can use to better understand your customer base and target ads more precisely. You can interact easily with all your customers and gauge the efficacy of promotions and marketing strategies with a fully integrated retail management framework that includes integration with your CRM system. Furthermore, integrating your customer loyalty program with your POS system helps you to assess the efficacy of your loyalty program. Are consumers taking advantage of exclusive offers? Do they take pleasure in being rewarded? Does it inspire customers to come back? The answers can be found in a combination of data from your POS system and customer loyalty program.

Customer Convenience

Enhancing customer interactions is another crucial reason to align your customer loyalty program with your POS scheme. Sales associates can enter a customer’s ID number or scan a loyalty card into an automated system, and points from a transaction are automatically credited to the customer’s account. They can also check their point balance and add points during checkout, which is exactly what your customers want. According to a survey, 84 percent of customers believe that redeeming loyalty bonus points immediately enhances their shopping experiences.

Multichannel, Multilocation use

Customers can use their loyalty cards and redeem points anywhere when they use a single, integrated platform. Customers can quickly see how many loyalty points they have while shopping online on their tablets, or in any of your stores. Seamless shopping experiences are the product of an integrated network.

Efficiency in Information Technology

Another benefit of integrating systems is that they are easier to maintain, upgrade, stable, and integrate with third-party applications for your IT resources. Instead of logging into various dashboards and wasting extra time on clumsy workflows, integrating systems allows you to handle all your applications from a single location.

Client Segmentation

Since loyalty programs and POS systems work together to monitor consumer preferences and buying patterns, more committed consumers will be rewarded more often and with more valuable deals, increasing their value to the brand over time. By gradually increasing participation and tempting deals, the customer loyalty program can be structured to engage fewer active consumers to try to maximize their buying behavior. They will continue to be compensated in ways that increase their value to your brand as they become more loyal over time. If their interest does not improve because of your loyalty program’s actions, the program can gradually reduce any incentives, and you can focus your retention efforts on those that are more likely to be loyal to your brand.

Personalized promotions

So, what will you do with your customer data once you have it? With the knowledge it has, your POS system will help create personalized deals for each customer.

A POS can deliver personalized promotions in a few ways:

Discounts on goods based on previous sales, such as submitting a coupon code or discount code to be used on any new items that are identical to the customer's previous purchases.
Personalize your marketing messages.
On customers' birthdays, send out exclusive coupons and discounts.
During seasonal occasions, such as Christmas, send out advertisements and special messages.
Send out deals tailored to the customer's lifestyle and interests, such as a special discount for students before the start of the school year.
Customers who have not shopped with you in a while can get coupons via email or SMS. This is an excellent way to remind them of your business and entice them to return.

Retailers develop extensive and detailed operations management systems capable of automating and managing the various tasks associated with operating a retail business based on convenience store POS software in this industry. From inventory management to human resource management, POS tech platforms serve as the foundation of convenience stores, simplifying complex processes and making convenience stores simpler to run.

Integrating your customer loyalty program with your point-of-sale system is crucial for holding the right products in stock, personalizing service, and delivering consistent loyalty experiences wherever your customer’s shop.

Digipe is a customizable, modular payment solution with superior mobile security. MIMO is one of the first to offer this service to its clients. We believe that this innovation will lead to widespread acceptance and adoption of mPOS services across the country. The mPOS solution has aided in bridging the gap between in-person and online purchases, resulting in a seamless payment experience across all platforms.

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5 ways POS system can help businesses survive the Pandemic

The Coronavirus pandemic – and the resulting shift in consumer behavior in terms of shopping, working, and living – has dramatically altered how things are done in various sectors of the economy. And the retail industry is no exception. There has been a 15-30% rise in customers purchasing online because of the pandemic.

Different sales strategies, such as contactless payment, curbside pickup, virtual consultations, and even social commerce (purchasing products through social media) have also risen in popularity. This new behavior, according to retail analysts and shopper surveys, is here to stay.

Merchants should use current POS systems to survive the pandemic and meet the new demands of today’s consumers, which will enable them to rapidly adjust to market trends (e.g., potential lockdowns) and easily sell both in-store and online. Retailers are increasingly dependent on point-of-sale technology due to the need for versatility.

During the pandemic, almost all industries have been severely affected. People are apprehensive about leaving their homes and eating in public places, and with good reason. Furthermore, restaurant owners and employees take a huge risk by engaging directly with customers. When it comes to dealing with consumers up close and personal, retailers are taking a big risk. The new POS systems, on the other hand, will make the entire process much more relaxed and secure than before.

Here are five ways it can assist the company in surviving the pandemic:

Contactless Transactions

COVID-19 can only be transmitted through air or contact, according to CDC reports and FAQs. You would need face covering to protect customers from the virus’s airborne spread. That leaves the issue of “how do you stop the virus from spreading through contact?” When you run a company where money is exchanged, this is especially difficult. Fortunately, a sophisticated point-of-sale system will significantly alleviate this problem.

Even though contactless payment systems can be extremely useful in these turbulent times, many business owners are yet to update their systems to accommodate the technology. Whether it is credit cards, debit cards, or smartphones, the consumer has a variety of choices for paying without making touch. However, updating an out-of-date POS system is needed to reap the benefits of contactless payment.

Online Ordering

It is fair to say that most companies are only surviving this pandemic because of online shopping. This is particularly true in states and cities where there is a complete or even partial lockdown. With such a surge in online ordering, you will want to make sure your company is prepared.

Having the right tools and systems in place to process any online orders could mean the difference between your business thriving or failing during the pandemic.

It may appear daunting at first to incorporate online shopping, but it does not have to be. POS software that is up to date makes ordering as simple as ordering in the shop.

Integration of Delivery

As a business owner, you’re undoubtedly aware of how retail has changed drastically over the last decade. Last-mile delivery has become a huge success in terms of business growth where cutting-edge POS systems can combine delivery capabilities with a variety of other industry innovations into a single piece of hardware.

An order may be placed online, prepared on-site, and then shipped using any of the current services. Many of the most common delivery services are integrated into the best POS systems, so you do not have to waste time arranging deliveries yourself.

Engaging Marketing

Influential marketing is more important than ever before. Remember that many people are hesitant to leave their homes. They may also be hesitant to get orders delivered to them via a delivery service. That means you will have to concentrate more than ever on mass marketing and assuring your loyal customers that your company is safe. Even sending marketing messages to new and current clients can be made easier with the help of a high-tech POS system.

Recognize and reward loyal customers

This final advantage complements the previous one. Customers will participate in loyalty programs for most of today’s POS schemes. Being a loyal member of any company, as we all know, is always a pleasant and satisfying experience. It is worth the few moments it takes to sign up for the occasional surprises and discounts. So why not provide that option to your customers? From a market standpoint, it is also a fantastic way to keep clients and boost profits, with 46% of consumers saying they do more business with organizations that have loyalty services.

For any company owner, these are trying times. They must take the appropriate precautions to ensure that they survive the pandemic without losing customers. Investing in cutting-edge restaurant POS tools is an excellent way to do this. You can reward loyal customers, send automated marketing messages, and never have to worry about virus transmission via contact.

How can MIMO help?

MIMO Technologies is a leading software development company that is committed to providing reliable and cost-effective software solutions across industries all over the world. They are among the fastest-growing IT and R&D services companies. Their growth has been powered by their consultative approach, deep understanding of business, passion for innovation, and above all, Integrity.

Traqpayments provides a unique mPos service that lets a merchant accept credit/debit card and wallet payments on his/her smartphone. An mPOS (mobile point-of-sale) is a smartphone, tablet, or dedicated wireless device that performs the functions of a cash register or electronic point-of-sale terminal (POS terminal) wirelessly.

MIMO is one of the first to offer this service to its clients. They believe that this innovation will lead to widespread acceptance and adoption of mPOS services across the country.

Some common scenarios where DigiPe will prove to be useful are as follows:

Shops/Supermarkets:

Merchant can accept money using any of the Traqpayments options- through Payment Link, QR code, Wallet, Digiswipe which keeps both the customer and the merchant happy.

Vendors:

The vendor will be able to send a payment link to the customer on their smartphone via SMS. Customers can pay their dues through the link.

School Office:

Administration sends the school Fees through SMS on the student’s Parent’s Mobile. Parents can pay the school fee easily without visiting the school or any bank.

Digipe is a customizable, flexible payment solution that offers enhanced security within a superior mobile framework. The mPOS solution has helped to bridge the gap between face-to-face and e-commerce transactions, creating a smooth payment experience across all channels.