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Originally Posted On: https://trinitypaysol.com/7-signs-your-business-needs-to-improve-its-pos-transaction/
In today’s consumer age, people have options.
Financial analysts estimate that the number of Apple Pay users will soon surpass 101 million people. This makes it by far the most used mobile payment option.
After 2020, many people also prefer touchless payment methods, while others still pay with cold, hard cash. To grow your business, you need to accommodate your customers so that they always have a way to pay.
Investing in a stellar point of sale (POS) service can help your business in so many ways. The tips below will help you when you’re interested in fulfilling your POS transaction needs and taking your infrastructure to the next level.
1. You’re Losing Business
A quality POS system is important for e-commerce companies because it puts more options into the hands of the customer. Today’s customers are used to having these options, so the last thing you want to do is limit them.
People are apt to take their business elsewhere whenever a business isn’t able to accommodate them. Only taking cash and debit cards when so many customers would like to use Apple Pay and Android Pay significantly limits your business.
It’s all about generating revenue and profits at the end of the day. Every customer that you lose due to payment options is less potential income that your company could be enjoying.
It doesn’t make sense to limit your company in this way, especially with so much competition today.
2. E-Mail Marketing Is a Goal
Your company should definitely invest in a new POS system if you’re trying to ramp up your e-mail marketing campaigns. These systems are set up to integrate with both e-mail and Short Messaging Service (SMS) marketing.
In addition to offering more payment options, a new POS system will capture the contact info of your customers. You can create customer rewards programs linked to an e-mail address or phone number. By registering for the program, you can then use their contact info to market to them regularly.
These marketing campaigns can keep customers abreast of new happenings and can boost your blog, social media, or other content marketing strategies. You can also regularly send coupons, discounts, and news.
This can boost your customer retention and boost your sales. POS systems today are built with all sorts of tools that can help you get the greatest return on investment (ROI) from these campaigns.
3. Your Company Uses Crypto
Many customers today are also heavily investing in cryptocurrency. It’s the wave of the future, and increasingly becoming a preferred method of payment for many.
There are several POS systems today that accept Bitcoin and other forms of crypto. The POS system will stay up-to-date with the most current exchange rate. This way, you’ll be able to either hold crypto tokens or cash them out into your local currency.
A new POS system is essential if your company accepts crypto or is planning to. These systems integrate with a variety of crypto mobile payment apps.
4. The Current POS System You Use Keeps Failing
When you have a POS system that is constantly failing you, replacing it should be an A-1 priority. Having your system crash in the middle of a business day can cost you lots of money.
It’s better to upgrade to a new and better system so that you never have to worry about this. Newer systems have been able to work out the kinks and also integrate into the newest hardware platforms. Making the switch is an investment into your business and helps you better serve your customers.
5. Customer Support Is Lacking
There’s never an excuse for poor customer service. If that’s what you’re getting from your current POS provider, don’t hesitate to make the switch ASAP.
Do your research into the POS providers that are not only available but helpful. There are several POS companies that have 24/7 customer service. You’ll be able to get in touch by phone or with an online chat. This availability helps you get service quickly so that you can go back to serving your customers.
The worse your customer service, the more interruptions your business will experience. For instance, you may need help with an error that you’re getting when applying cash discounts to a customer. Being stuck on hold or getting subpar help will wear on the customer’s patience, which could also lose business.
Get some referrals from other business owners so that you choose a POS system that offers the level of customer support that you need.
6. You’re Paying Too Much
It’s also a good idea to switch to a new POS provider if you’re paying too much. You should have a budget for this part of your business in order to best manage your overhead and operating costs.
If you end up paying too much, it’ll make it harder for your company to turn a profit. Do your research into the price packages that other POS companies provide so that you can find the best deal.
7. The Technology Is Outdated
You also should make an upgrade to keep up with the times. Using old and outdated technology increases cybersecurity risks and makes it harder to keep up with your competition.
If you upgraded your tablets or POS equipment lately, you’ll need to change subscription packages to get the best results. Customers appreciate companies that stay modern, and your business will improve its brand trust.
Take Care of Your POS Transaction Needs
If you need POS transaction services, these words of advice can get you started. We have the selections that you need to help your company.
Trinity Payments can assist you when you’d like to offer your customers the best payment options. To learn more about our solutions, contact us via our site or by calling (888)315-9714.