5 Ways to Improve Your Profits with Point of Sale

For a business in retail, there is always competition. If your business profits have been lagging lately, it’s time to reevaluate what you’re doing to see where improvements can be made, says Merchant Services Irvine. Point of sale software combined with a merchant account can increase customer satisfaction and stimulate sales.

Point Of Sale – Offering Better Payment Options
Point of sale equipment will immediately improve sales potential by giving customers more flexibility in how they pay for what they purchase. The business environment is quickly moving away from cash based transactions; if you still don’t accept anything but cash or checks; you’re losing a large section of the public. Accepting credit cards allows your customers to pay over time, making it more likely that they will purchase a big ticket item.

There are several options in point of sale machines and coinciding merchant accounts available through Merchant Services Irvine, depending upon what kind of features you would like to use, such as credit and debit card processing, gift cards, loyalty programs and electronic checks.

Establishing a merchant account and implementing a point of sale system will also help to decrease potential losses incurred due to bounced checks and lost sales by allowing your customers the option to pay via credit and debit card; no more waiting for a check to clear – with a merchant account, the payment will be processed and added to your account almost instantly. POS also works to increase the speed of the checkout process; two factors that can improve your monthly sales figures, according to Merchant Services Irvine.

Merchant Accounts Make Online Shopping Easier
Offer your customers new ways to shop. Even if you’re primarily a local or regional business with one or two store fronts, having an active and fresh website is crucial. Repeat customers will visit your website to check out promotions and make online purchases. By establishing a merchant account with Merchant Services Irvine, your online customers can conveniently pay for their purchases with a debit or credit card. An additional benefit of accepting credit card payments is the potential for call-in orders. Wireless point of sale equipment makes it easy for you to accept credit card payments even while you are away from the business headquarters. Today’s point of sale equipment is designed to make paying easy.

Streamline Your Products
Streamline your merchandise and track your inventory easily with a point of sale system. Eliminate poor sellers, but don’t limit yourself too rigidly. Let your customers know that you can easily special order something if they are looking for a specific item you’ve carried in the past. The key to success is to understand your target demographic. No store can have everything that everybody needs, but that is why getting to know your different types of customers is essential. Cater to your demographic so they will recognize your store and your brand as one that represents who they are. Streamlining and being well stocked are not mutually exclusive. Point of sale systems can help you track inventory as well as complete sales transactions.

Reward Repeat Customers
Consider a rewards program for loyal customers. By offering incentives to buy, you increase your repeat sales as well as sales of more than one item at a time. Don’t forget to offer your rewards program through your website as well. Merchant Services Irvine can provide you with several options that will work to help you sell items online and easily accept credit and debit card payments. Offering online purchasing capabilities can vastly expand your market. Online customers don’t need to know you’re a small store; all they need to know is that you carry what they want and are willing to ship it directly to them.

Offer Outstanding Service
Excel at customer service, recommends Merchant Services Irvine. Most businesses throw their clerks or cashiers into the mix with very little training. The training that is offered is often about how to stock merchandise properly or use the cash register. Don’t forget to train your staff extensively on superior customer service, including how to properly utilize your point of sale system. Your employees should know your products well enough to answer any customer questions and guide those customers in choosing the right product for them. They should also know how to handle returns, refunds, and discounts quickly and efficiently using point of sale systems.

Communicate With Customers
Talk to your customers. They are your best source of information on what they do and don’t want to see in your store. Hands down, the most popular request from shoppers is the introduction of point of sale equipment so they can easily pay with debit or credit cards. Coming in a close second is having more flexible hours. Of course, by establishing a merchant account with Merchant Services Irvine and accepting online payments, you can let your customers know that your store is available online 24/7.