As a POS Business owner, you are in the money business and the money-making business. Sounds corny, but it is what it is. You are in the business of making money, and also in a business that literally deals with money, cash.
As Mobile Agents and kiosks are springing up everywhere, you have the extra task of worrying about competitors and satisfying customers.
However, once you are able to surpass competitors and offer the best service to your customers you are guaranteed to improve your sales, earn higher commissions and make bank with your POS Business.
Here are 5 tips to help with that
Listen to your Customers
Know what they want. Ask questions and seek to understand their pain points. Customer still remains King but not in the fashion of the old adage. Customers remain, king because you are essentially in business to serve them, so it is important for you to know what they want and strive to meet them at the point of their needs.
As a POS Business for example, your customer needs might include having cash in smaller denominations, a reminder that their DSTV or GoTV subscription is about to expire, or comfort and security when they come to your store. Whatever it is, when you listen to them, make certain to act on the feedback you get and do not listen just for listening sake.
Explore all your Marketing Options/Channels
Whatever your line of business, there are several marketing channels that are available to you. From word of mouth to digital channels and offline mediums.
To improve your sales, make sure you do not rest your oars on the options available to you. Focusing on one, while allowing the others to lie fallow is asking to leave money on the table. That is the last thing you want to be doing.
So, while you’re making roll-up banners, designer flyers, and encouraging word-of-mouth testimonials, do not forget to also leverage digital channels such as social media, SEO, online listing and advertising, email marketing, and others.
Ensure that your marketing efforts are well aligned, complement, and support each other into creating one robust marketing campaign.
Copy the Competition
In business there is no penalty for copying your competition if there is an approach that your competition is using to improve their sales, ‘copy’ but don’t copy blindly, copy and improve on what they are doing, also copy and execute applying a superior knowledge of your customers and the industry.
In copying your competition, you can also avoid the pitfalls that they have experienced. Know what they did and how they did it, where they went wrong and why they failed. All of this can be done via observation.
Diversify your Offerings
This applies in both ways. The first is in a variety of products and services, the second is in sizing and packaging. If a bakery makes big loaves of bread, let’s call it Family Size, a form of diversification would be making smaller sizes for instance a medium or small size for persons who do not have to cater to a daily and the family size will be too much for them.
The other form of diversification for the bakery will be making different types of bread such as Banana Bread, Coconut Bread, offering baking classes, making snacks and pastries. A POS Centre Operator will want to look into selling JAMB cards, have a photocopying machine, as well as having a typing business on the side.
Keep up with Industry Changes
The best way to become a master at what you do is to keep up with industry changes. These changes might be regulatory, or competitive.
Keeping up with changes in your industry will keep you at the top of your game and position you to make more sales than others who are winning the second balls, getting in on changes when it is too late.
There is a big advantage in being ahead of the curve and you can use it to generate more sales, and in turn, make more revenue for your business.
We hope you enjoyed this awesome read, to know more about our services follow us on Facebook @PayCentreafrica.