The more you know about your customers, the better chance of keeping existing customers and bringing new ones. If those seemingly small things, those incremental things that build upon the foundation, are consistently done, everyone wins. Modern-day POS systems tell us a lot about customers if we only pay attention. From what I have seen in the 20 years or so since meaningful, timely information has been available, businesses look for the home run instead of a series of base hits. Use data to formulate strategy rather than listen to the desires and whims of a few in the boardroom who are miles away from the people who actually care for the people who ring the register. The more technologically advanced, the greater the distance between decision-makers and the economic customer. Most of the businesses for which I have interacted at the management level believe POS is better at cash control, which it is, and use it for little else. Hire someone to export POS data and create a daily updated matrix of KPIs that can be communicated throughout the organization, even down to the person who completes the customer transaction.
Noah Glass is the Founder & CEO of Olo
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