The restaurant business is certainly a challenging one, due to competition, small profit margin and high employee turnover. On top of that, the current climate of the world isn’t helping either.
In order to match customer satisfaction, restaurants need to deliver good quality food, nutritious ingredients and luxurious service. Lately, customers have started relying tremendously on the reviews of bloggers and other customers that are posted online, making brand management more important and of course, more complex.
Due to this reason, competition has become more fierce and businesses need to focus a lot on customer satisfaction. By improving customer retention rates by a percentage as low as 5%, profits increase by 80-90%. This is due to the fact that loyal customers are more likely to recommend their friends, and their friends believe their referral due to the very same fact.
Restaurants already have a lot of access to such data. The POS is an amalgamation of hardware and software where customers can make payments of products offered in the restaurant. This provides considerable amount of benefits to the business as it adds value and capability.
How does having a good POS help your restaurant business?
1. Data-driven campaigns
Wefee1 relies on a POS integration to gather extravagant data generated from customers which can provide great insight to the business. Some of the information includes where the diners are from, how many times they’re likely to dine, their likes and dislikes related to the food, etc. By using this data, businesses can create personalized campaigns for customers. According to Forbes, 60% of marketers reported that creating a data-driven campaign measurably increased the ROI.
2. Personalized loyalty program
Every business requires a structured loyalty program in order to stimulate customers behavior and attitude towards the business, with the use of rewards and benefit schemes. This helps to boost sales, strengthen brand image and loyalty and last, but not the least, improve customer engagement. By integrating with a POS system like Wefee1, you can segment customers according to their behavior like spending levels, frequency of purchase, food preferences, age, etc.
3. Mobile application
An application can be tailor made for a restaurant which when downloaded by customers, provides a channel for the business to interact with them and tell them about their loyalty program, discounts and vouchers.
4. Omnichannel transmission
Integration POS helps support omnichannel transmission between the business and its customers. Customers can place an order in person and takeaway, through the website or through the phone Application. That means, the customer has access to various ways to place an order from the same restaurant. Integrating a payment system through all these various channels also proves to be beneficial.
5. Easy-to-use dashboard
Accessing a comprehensive dashboard helps keep an eye on your activity metrics and KPIs on a daily basis, which turns out to be critical for conducting analysis and future strategy planning.
6. Derive reports
As a result of the dashboard, reports can also be derived which can be circulated to the concerned departments. These reports include sales reports, accounting, finance, etc.
Integration POS is becoming crucial especially in this day and age. Wefee1, an innovative customer engagement toolset that enables you to collect first-party data right away, already integrates with 80+ POS systems worldwide.
Start gathering actionable customer insights to help you bring them back while increasing their spend.