Understanding your customers to grow your business

I think there is no denying that the better you understand your customer, the better your business can be.

Understanding your customer’s desires can occur in many ways in the retail environment. The most obvious is through staff interaction with customers, but there is a lot of hidden data in transactions that may surprise you.

Enter a retail management solution.

A retail management solution gives you the power to collect customer’s purchase history, arguably the most important insight into your customer’s behaviour. You can use it to assign sales to customers, and in doing so capture all this valuable data.

Assigning a sale is as simple as entering your customer’s details into the system and at the time of processing the sale noting the customer against the sale. Some retailers may have a loyalty programme in place with customer’s details already in their system or you may need to enter them prior to processing the sale. Enter once and track for life!

Now that you have noted the customer against the sale you have a history of purchases that you can report and review.

Information abounds. You will be able to start understanding more about the products that are selling and to who, as well as gather more information on your customers’ purchasing habits.

Your customer’s purchases are telling you something. What products they like to purchase, how much they like to spend, when they like to shop, how often they purchase from you and more.

You can see how often your customers are shopping, the average value of their spend, as well as how far they travel to visit your store.

Now you have the power to segment your customer database to have more targeted marketing and in doing so maximise your marketing spend by only promoting suitable products to interested customers.

Data is power and your Retail management solution will give you the means to capture the insights to your customers like never before.