What will the current retail climate bring point of sale (POS) resellers in 2018? With technology ever advancing and consumer demands evolving, successful POS resellers have to grow with the industry and their target market. The key will be investing in a combination of knowledge and smart products.
POS resellers who truly want retailers to succeed, understand the retail landscape as well as (or better) than retailers do, and explore the best solutions that bring efficiency and profitability to a target niche, will be most successful in 2018. Here are some tips to accomplish those goals and advance your business:
1. Put the Customer First
Good POS resellers need extensive knowledge of the products and solutions they offer; but they also need a thorough understanding of their customers’ evolving needs. When choosing new hardware or software, small to mid-size business (SMB) owners haven’t always done a lot of research, or they may feel overwhelmed by the maze of available technologies. Your job is to help them navigate the choices and provide insight to guide them to the solution that best suits their unique requirements. That is the value a POS reseller brings to the buying decision: the ability to consult with specific niche markets and customize solutions that will solve their pain points and grow their business.
2. Develop New Skills
Successful POS resellers need to keep learning. Not only do you need to stay current on the latest technologies and products you offer, but also you need to stay informed about trends related to your target markets. For example, what are the latest swimwear innovations that will affect a surf shop retailer’s inventory management needs? Or, what are the most popular services offered by pet grooming salons, and what can they upsell most reliably (shampoo, nail clippers, bandanas, etc.)? Research the best business practices for your customers’ niches, and understand them as well as, if not better than, they do. Then you will be able to help them make the best choices when it comes to technology for their businesses.
3. Minimize Buyers’ Risks
You’ll need to be flexible and find innovative ways to help your customers achieve the solution that is best for them — not only regarding system functionality but also with the way it is delivered, updated/maintained, and billed. For example, SMB owners may be concerned about the substantial initial investment that is often required with a new POS system, so offer them a more comfortable alternative such as a monthly subscription program. It pays to be more than a “one-trick pony” so you can help your customers find the right fit for their business — and help your business by building “sticky,” ongoing relationships with your clients.
4. Listen and Collaborate
Before you can offer a particular product or service to a customer, you need to consult with them and find out exactly what they need. Ask questions and get to the bottom of their issues. What are their pain points and their top priorities? Do they need to build customer relationships and generate repeat business? Once you have a thorough understanding of the client’s specific challenges, you can help them incorporate solutions that address, for example, their inventory management, employee scheduling, or mobile POS needs. Determine their biggest pain points and collaborate with them to solve those problems.
5. Grow Your Accounts
Finally, successful POS resellers understand that making your customers’ businesses grow is what makes your business grow. Keep the focus not on what you can sell them, but on how you can benefit them. Offer the solutions that will truly make a difference for your target clients. When they do well and are able to expand, they will keep coming back to you for the value you provide. Not only will you maintain your client relationships, but happy customers are a great source for new referrals.
Successful POS resellers in 2018 will have a “customer first” mentality, take time to truly explore the needs of niche retailers, and opt for solutions that provide them with the tools to grow their businesses. In turn, your profits will grow too.
TallySoft’s retail management software, TallySales, is a proven solution that helps niche retailers master the art of selling in an omnichannel marketplace. Learn the benefits of TallySales and how it can help your clients bolster sales and provide the customer experiences that will keep business growing in 2018 and beyond.