As a retailer, you most are likely using a POS System. You are also most likely using a CRM. But do you know if these two systems are working together? If they are, you are already well on your way toward retail integration. If they are not, then these programs are probably working against you.
There are many benefits in having an integrated POS and CRM including faster transaction times, detailed customer history, and improved customer experience, to name a few. In this article, I will focus specifically on the benefit of capturing detailed customer history, and how collected data can be used effectively. When your POS and CRM are integrated, all your sales data is immediately and automatically captured in your CRM; every sale, service request, and customer complaint is logged, giving you a detailed customer profile.
Complete customer profiles provide information that can be extrapolated and applied in a variety of ways.
First, imagine a customer that has come into your wireless store. They browse around for a minute or two and settle on purchasing the latest Bluetooth speaker. When they get up to the till, the sales rep rings up the item and in doing so, the customer profile is brought up and the sale can be attached their account. At this point in the integrated system, the sales associate can see view this customer’s entire purchase history and has access to valuable upgrade information, can upsell with additional correlated products, or share deals that may apply to this customer.
Secondly, the customer data you collected can be used to segment your customers by purchasing history, upgrade eligibility, and even as far a demographic information that helps you identify your purchase audience. The key benefit here is you can now begin hyper-targeting your customer base and hone marketing efforts based on these unique profiles that bring customers back into stores.
Finally, integrated data collection is a game changer with the ability to take the customer data and include it in your communications to customers; this is referred to as personalization. The ability to use personalization in your marketing and customer relationship efforts goes a long way, and according to a report by Forrester, the biggest challenges with personalization are gaining insight quickly enough (40%), having enough data (39%), and deciphering what is inaccurate data (38%). With an integrated POS and CRM, these key issues with executing personalization are largely alleviated, connecting the sales and customer data and by displaying the information at the POS.
Think back to that customer who came in and bought the Bluetooth speaker. You have already captured their demographic information and because your CRM and POS are integrated you have their sales history, including the product they bought, the store they bought it in and the sales rep that sold it to them. With this information, a powerful, personalized email can be created and sent to them to make sure they are enjoying their purchase, generating customer loyalty and mostly repeat business.
So I will ask again, are your POS and CRM working together?
Find out how RQ, our wireless retail POS, seamlessly integrates POS and CRM.
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