1. Sales Strategies
A sales strategy is characterized by the means, whether marketing or sales, implemented by a company in order to achieve its time-based objectives.
Thanks to advanced reports produced by your point-of-sale system, you can analyze, elaborate, and evaluate your company data in order to fine tune your goals and determine realistic indicators for your sales strategy.
When determining a sales strategy, it is often beneficial to first take a look at the outcomes achieved in previous years. The reports offered by point-of-sale software therefore become essential tools for your company. With these reports, you can easily compare the data collected during the previous year with the current year’s data.
Centralizing your data with the help of an omnichannel solution will generally save you time and money. On average, a network of stores manages to save 30 hours per month on product management with Alice POS for example (source).
Also, an efficient sales strategy will normally be reinforced by techniques such as cross-selling, promotions, or even customer loyalty cards. Cross-selling is characterized by the emphasis on products that are complementary to a purchase, such as a video game or a controller to accompany the purchase of a new game console. With this feature, your POS system can automatically offer different cross-sell products for each item, so your employee only has to offer the add-ons in order to increase the customer’s bill.
Promotions could be managed on a network-wide basis. Using your point-of-sale, you can determine the percentage or the value of money you want to reduce for each item. You can also apply this same principle for each customer, for example, Jack is entitled to a 10% discount on his purchases made in-store. You can then program this promotion directly in his customer file; you will save time since the next time the discount will be applied.
Finally, membership cards not only increase customer loyalty but also increase sales since loyalty discounts such as in-store credits or special promotions are likely to encourage them to spend more when they visit your store or online store.