Why do we consider changing anything? Typically, there are three reasons we consider change:
1. Things don’t work like they used to.
2. There must be a better way to do what I’m doing.
3. I want to do something different.
What does this mean for my business? Specifically, what does this mean for my business regarding my POS system?
Considering the first point, it’s pretty easy to understand how this could relate to your POS. If it has stopped working, if it has gone unsupported, if it has slowed down to the point where it has become burdensome and ineffective, then it’s pretty easy to understand that it doesn’t work like it used to. This means it’s time to consider a change.
Now, when you are considering a change, you are most likely going to take the second point into consideration as well. Is there a better way to do what I have been doing? Even if your current POS system hasn’t slowed down and stopped working, shouldn’t you consider trying to improve? Couldn’t there be a more profitable way to leverage technology inside your business? Technology changes all the time. Using the best tools for understanding inventory performance and making data-driven decisions will lead to better buying, fewer markdowns, and more profit.
In addition, if you don’t have the ability to use your current system to segment your customer base, you’re probably throwing away marketing dollars. Making sure your marketing is super relevant to the specific audience that will see it improves your ROI (Return On Investment).
Finally, what kinds of things might you be able to do, that you can’t with your current POS system? Do you have a website? Are you participating in ecommerce? Are you pursuing third-party fulfillment? Making sure you have the ability to leverage additional sales channels means more customers and sales. However, there’s more to being effective online beyond just having an ecommerce website. You want to reflect your brick and mortar store inventory in real time. It’s all about integration.
So make a change for the better. Update your POS system with one that will help you be more efficient, reach more customers and be more profitable. Click here to read the ultimate guide to switching to a POS that will make you a data-driven retailer.