Business Monitor
EPOS systems not just for retailers E
This month marketing expert Paul Clapham takes a look at EPOS systems and how they can benefit your business.
POS systems have been around for a long time now. They are easy to use and give business owners a large amount of valuable information. So I find it surprising when those owners regularly tell me they hardly (or never) use the system, indeed that they donʼt know what it can tell them or how to access it.
EPOS is still regarded as exclusively for retailers and only a small proportion of garment decorators have a retail presence. But that is narrow thinking. Most of the benefits referred to below cover all business sectors.
Consider also online sales. Many more decorators sell online than operate retail premises, but the disciplines for etailing are essentially the same as for bricks and mortar retail. An EPOS system provides the necessary operational structure to make online selling work effectively and profitably.
Big advantages
The biggest advantage is certainly relevant information – knowledge is power. In my experience the business owners who make full use of EPOS are those who know most about the day-to- day facts of their business.
They know what products or brands are selling. They know which are the most profitable. The point is that they actually know this (or can access it with just a few key strokes) Meanwhile the people who donʼt use or underuse their EPOS, think they know that information but rarely do. As with all technology you come across some people who are truly evangelical about EPOS – itʼs an essential element of their marketing, stock control, pricing and accounting, plus a number of other elements. Such people claim that it pays for itself every day and I believe them. Note that EPOS is dead easy to use. One trial demonstration will make the point very clearly. Technology skills are not required which means that all staff can work the system and it makes trading with you faster and simpler. If someone wants six polo shirts and ditto baseball caps in a standard colour they are right to expect a super-fast response on price and delivery date. If the price is right, the speed will close the sale. Pricing. Staff are but human, so they make mistakes. EPOS helps eliminate them and keep your pricing consistent. Equally you can change prices easily to make special offers and multi-buy deals or to sell off stock that isnʼt selling. Doing
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that manually is a recipe for mistakes and disgruntled customers. Itʼs also a serious waste of staff time.
Natural elements
Price is a basic strand of marketing. But an EPOS system used properly is an essential element of other marketing activity. Use the system for database marketing, working a loyalty card scheme and upselling. Take that last as a fine example of whatʼs possible. Selling multiple products to a customer and aiming to do that to every potential customer will grow a business faster and bigger than any other discipline. EPOS is an ideal prompt to make it happen. Thatʼs a natural for garment decorators. Focusing on the customerʼs requested item is obviously good basic business practice. But failing to introduce another equally relevant item is bad business practice. If your EPOS system is prompting ʻask about baseball capsʼ pretty soon youʼll be selling a lot more of them.
What works and almost as important what doesnʼt? An EPOS system can give you an honest set of numbers, not skewed by your perception of a quiet Friday morning or the phone ringing off the hook on Monday. Your gut feel and judgment are vital as ever but how many people spent how much money each and how many appointments did you make is a more important set of figures.
Do you hold stock? Personally I would always avoid doing so and Iʼm aware that most garment decorators think the same. Since each job is different and there are myriad options available, how could you hold stock in a way that would be remotely financially viable? I agree.
Say yes
Now ask your EPOS system if it also agrees. It is entirely possible that there are a number of exceptions that make some stock holding viable and hence profitable. I can see that holding white T shirts is something of a no-brainer. In what sizes? What about weights for seasonal variation? I doubt anyone carries the answer to those questions in their brain, but there could be profit teased out of them.
There could be a local anomaly that you are, sort of, aware of but if the computer says yes, you might have found a nice little income stream which would repeat itself and would probably be unique to you.
This is exactly the sort of thing that suppliers should have their beady eye on. ʻCan I show you an idea that will make us both more profits?ʼ should be a start point for every meeting they have with you. Since they have more manpower with more time to address such opportunities, you are entitled to ask ʻOK mate, whereʼs the sales opportunity rather than just the sales pitchʼ.
January 2018 | 21 |
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