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Read More >>Forget cash registers and Rolodexes. Today’s point-of-sale solutions double as powerful POS and CRM systems, storing customer data and boosting your business.
One tip: Don’t buy a POS system unless it’s enabled with a CRM.
A CRM-enabled POS helps you target promotions based on buying habits, reward customers, and make data-driven inventory decisions. When used together, these systems can drive a sales increase and maximize customer retention.
You likely know what a CRM and a POS system is. But you might be wondering what a POS-based CRM is? We’re going to lay that all out for you now. Keep reading to learn what the CRM tools available in POS systems, why you need them, and specific ways you can use them to grow your business.
It’s easy to get confused by the alphabet soup of business tools. POS and CRM sound eerily similar, after all.
While both play a role in increasing retail sales, they tackle different aspects of the sales process. Here’s a quick breakdown:
Think of your POS system as a modern cash register. A POS manages sales, offers integrated payment processing, tracks inventory, and prints receipts.
Its primary role is processing transactions. However, modern POS systems do everything from pricing management, to creating accounting reports. Every brick-and-mortar shop needs a retail POS system.
A CRM system is like a digital rolodex. It stores customer information, purchase history, marketing interactions, and preferences.
Using a CRM you can build personalized marketing campaigns, offer targeted promotions, and drive repeat business. One benefit: When you use a CRM point-of-sale system, you can capture customer data at checkout, allowing for a more seamless experience.
POS and CRM systems are the perfect match. An integrated system offers numerous benefits:
In short, your point-of-sale system is already a powerful tool.
By adding CRM features, you’ll expand its marketing capabilities and gain better insights into your customers. These benefits will help you maximize sales.
Standalone CRM systems can be very powerful. But generally, retailers don’t need the more robust features of a dedicated system. That’s why a POS with built-in CRM tools makes sense in retail.
Modern POS systems typically include features like:
You might be wondering: What’s the difference between a CRM-enabled POS and a POS loyalty program?
Generally, a POS system with CRM tools includes only the storing and collecting of data, e.g. customer profiles, purchase history, and, potentially, marketing capabilities. A POS with loyalty features, however, allows you to collect CRM data and offer rewards for repeat business.
Upgrade Your POS. Choose a point of sale system that will help you grow! FTx POS includes CRM and loyalty program tools to grow your customer database, at the register.
A POS-based CRM offers a lot of functionalities. However, there are distinct limitations including:
Dedicated CRM software offers more advanced features like lead management, sales pipeline tracking, and automation. These features are generally needed for B2B sales efforts, where the sales cycle is longer.
A POS-based CRM typically limits integrations with other business tools. For example, a POS CRM system likely won’t integrate with a sales prospecting tool, which allows you to import cold leads. ERP integrations may also be limited (however, many of these features may already be included in the POS system).
Dedicated tools allow you to customize a variety of features and add-ons. For example, in a third-party CRM you might be able to customize profiles, create a variety of new fields, and generate highly detailed reports.
Generally, retail businesses using a POS system don’t need advanced CRM features. This is because the sales cycle is generally shorter, and the products and services require less selling.
For example, an independent grocery store doesn’t need lead management tools. Instead, small business retailers need a CRM that allows you to:
Additionally, a POS-enabled CRM saves small businesses from investing in two software systems. This can save time and money. Larger businesses, B2B companies, and companies with longer sales cycles, however, would typically need a dedicated CRM platform.
A POS-based CRM isn’t just about storing information. It’s about transforming data into growth for your business. Here’s how:
Imagine sending emails showcasing products similar to a customer’s recent purchase or offering birthday discounts. POS data unlocks this level of personalization:
Loyal customers are gold. A POS-based CRM helps you build customer loyalty via:
The combined power of POS and CRM data creates a treasure trove of insights:
FTx POS offers a variety of customer management tools and options. You can use basic CRM tools in FTx POS to build customer profiles at the register. Plus, FTx POS includes three tiers of loyalty:
Contact us today to learn more about the CRM tools within FTx POS.
Switch Today and Save! Don’t waste your time on a POS system without marketing tools. Switch to FTx POS today and build a loyalty program you can scale.
It depends! If you're a small-to-medium business with basic customer management needs, it can be a cost-effective and convenient solution. However, larger businesses or those requiring advanced features might benefit from dedicated CRM software. Consider your specific needs and growth aspirations.
While powerful, POS-based CRM might offer:
Reputable POS providers prioritize data security. Look for systems that comply with industry standards and offer features like encryption and password protection. Regularly update your system and follow best practices for data security.
Yes, many POS systems offer integrations with popular CRM platforms. This allows you to leverage the strengths of both systems for a more comprehensive solution.
Here are some guidelines:
Learn more about this topic. See these related posts on the FTx POS blog.
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