| In recent years, much has been developed to | | | | informational newsletter, an offer for a specific |
| provide the typical retail user, with Point of Sale | | | | product, related to their general area of interest, |
| Solution hardware that embodies the latest | | | | or a Loyalty Voucher combined with news of a |
| technology and great aesthetic design. Sadly, POS | | | | brand new product. It is relatively easy to decide |
| Solution software has not kept up with these | | | | what to send, when the POS Solution, using 'AI', |
| innovations in hardware design. | | | | has prepared a customer list. With a couple of |
| Most POS Software, by default, collects | | | | mouse clicks, this campaign can be sent. |
| enormous amounts of data during normal | | | | Consider this possibility... |
| day-to-day use. Unfortunately, this information is | | | | POS Solutions, using 'AI' and Spend Analysis, are |
| mostly not used, because most POS Solution | | | | able to be trained to identify customers who are |
| software does not provide data mining | | | | in the process of dropping support for a business. |
| functionality, and suitable user screens, to use this | | | | Research shows that offering these customers a |
| information to help run a business. | | | | special voucher or free product can help retain |
| In coming weeks we are going to explore the | | | | them. In the long term, this can make an |
| possibility of applying 'Artificial Intelligence', 'AI' for | | | | enormous difference to a business's revenue! |
| short, to this data, and reveal the benefits in | | | | Campaign Tracking & Evaluation |
| several areas of a retail business. The areas we | | | | An intelligent POS Solution would then allow |
| are going to cover are: | | | | complete Tracking of the campaign, to evaluate |
| 1) Target Marketing of Retail Customers | | | | it's effectiveness. It should answer questions like |
| 2) Product Price & Margin Control | | | | the following: |
| 3) Automation of Product Ordering | | | | 1) Did it increase sale volumes during the |
| 4) Automation of Real-Time Stock Valuation | | | | campaign |
| 5) Use of Key Performance Indicators | | | | 2) Did it increase sales revenue during the |
| TARGET MARKETING OF RETAIL CUSTOMERS | | | | campaign |
| There is no question that, Point of Sale Solutions | | | | 3) Did it increase sales margins during the |
| that include integrated pro-active retail marketing, | | | | campaign |
| are becoming crucial to growing a successful retail | | | | 4) How many customers read the email |
| business. It's widely accepted, customers are | | | | SMS, or Short Message Service, can be used in |
| more expensive to acquire, than to keep. | | | | exactly the same way as emails. Special sale day |
| POS Solutions, using tools like 'AI', can train their | | | | reminders, new product offers, $ Vouchers, links |
| systems to recognize customers based on | | | | to websites can all be sent using SMS. And it all |
| products purchased, spend amount and spend | | | | goes almost instantly to the customer. POS |
| frequency. | | | | Solutions using 'Artificial Intelligence', allow all this |
| An Email Marketing campaign, targeting these | | | | and more, to happen automatically, with a few |
| customers, could be in the form of an | | | | mouse clicks. |