Many hospitality and retail businesses have an untapped resource that unlocks the potential to gain actionable data, personalize customer experiences, and grow visits and spend. More than just a cash register and card reader, point of sale systems like Revel allow businesses to add third-party POS integrations that significantly expand the value and capabilities of the platform in a variety of ways.
One of the most beneficial ways to utilize Revel POS integrations is to collect first-party customer data that enables you to personalize your marketing efforts and build customer loyalty. When it comes to the importance of personalization for the customer experience, research from Epsilon [1] indicates that:
- 80% of consumers are more likely to make a purchase when brands offer personalized experiences.
- Consumers who are delivered personalized experiences that they find very appealing are ten times more likely to be a brand’s most valuable customer.
- Consumers who believe companies are doing very well on offering personalized experiences shop more than three times more frequently.
Because the cost of acquiring a new customer is five to 25 times more expensive than retaining an existing one [2], building customer satisfaction and loyalty should be a high priority for marketers across all industries.
It’s critical that your loyalty program incorporates first-party data so that you can target customers effectively, accurately measure ROI, and reduce benefits and reward costs by not subsidizing customers who are likely to purchase without being incentivized,
Related reading: How POS Integrations Generate Customer Insights and Actionable Data
The importance of owned customer data and how to collect it
In order to begin personalizing your marketing efforts for the largest audience possible, you need to make it quick and simple for the end customer to opt-in to an incentivizing loyalty program. Como Sense, a customer engagement platform that integrates with 80+ POS systems, lowers the barrier to entry by requiring only a phone number to join (a branded mobile app can be optional).
Como Sense enables marketers to collect and analyze key metrics such as purchase behavior, geographic location, demographics, and more, and use that data to send targeted offers to the right customers at the right time. Como’s advanced segmentation creates a variety of customer personas based on their past purchases. For example, a customer who shops with you often will accept a smaller incentive to come back to your business, but a one-time customer may need a stronger nudge to return.
Related reading: How Owned Customer Data Can Grow Your Business with Customer Engagement Tools
Revel and many other POS systems have customer loyalty features already embedded in their platform, but expert providers like Como invest efforts and attention into creating dedicated solutions. These solutions expand on the basic built-in functionality, adding value and increasing your ROI.
Because Como Sense is an open platform, it can also be the hub for connecting payments and ordering solutions, thus enabling all complementary merchant solutions to communicate with the business POS through Como. One integration to rule them all!
To learn more about how Como Sense can add powerful customer engagement capabilities to your POS and help transform your customer loyalty program to help your business grow, schedule a free demo with a Como expert today.
Sources:
1. https://us.epsilon.com/pressroom/new-epsilon-research-indicates-80-of-consumers-are-more-likely-to-make-a-purchase-when-brands-offer-personalized-experiences
2. https://hbr.org/2014/10/the-value-of-keeping-the-right-customers
Lina Hanin
Lina is in charge of Como’s product strategy and roadmap. She has more than a decade of experience in product management, as well as a vast understanding of international retail businesses. Most recently, Lina served as a Senior Product Manager at the retail division of NCR, a global leader in high-tech solutions for retail transactions.
