Sherene Funk | Nov 5, 2018 | 0
How This Small Retailer Increased Sales by 23%
It shouldn’t come as a surprise that the secret to succeeding as a small business is to provide customers with an exceptional customer experience. It is the way to compete against giants like Amazon and one of the top things small businesses have going for them.
Just in case we want the numbers to prove it, when we can find them.
[Tweet ” 70% of buying decisions are made based on how a customer feels the business treats them. “] Source: Mckinsey
[Tweet “81% of customers are likely to do repeat business with a company after a good customer experience.”] Source: American Express
In 2014, American Express found that 74% of consumers reported having spent more with a company because of a history of positive customer service experiences.
Basically the customer’s experience with service matters. And it matters a lot.
So how do you get those customers to come back to you and spend more when they do?
Let’s look at a real life example to see how one retail store, Denver Divers increased their sales by 23%.
How They Increased Efficiency and Improved The Customer Experience
When the current owners of Denver Divers bought the store, “the computer systems were virtually non-existent” (Bonnie Sherman, Partner). Providing customers with accurate inventory information was challenging. Entering that inventory was challenging because they had to do everything twice. They had to enter every item in their POS and then again on their website.
They wanted to provide their customers with a great experience. They wanted customers to see their products on and offline, but the mountain of inventory data entry was getting higher and higher to climb. (Sound familiar?) Time was eating away their profits. They were missing out on potential sales because customers didn’t know what was in stock.
According to a study done by software advice,
[Tweet “83% of customers are likely to stop shopping at a store due to out-of-stock items.”]
The team at Denver Divers decided to switch their strategy. Instead of working harder to keep their customers happy, they started working smarter. They started using a cloud-based POS that would allow them to enter an item in one time and have it populate in the POS, on the website, and in the rental software.
“[The cloud-based POS] really helped integrate everything that we were doing. Point of Sale in the store and Point of Sale online has been seamless. We don’t have to worry about updating the number of masks we have online plus the number of masks we have in the store because it’s all integrated.”
– Ali Miller, Partner at Denver Divers
With an integrated system, they saved hours upon hours upon hours of time while still providing customers with real-time inventory data. Their customers were happier, they were happier, and their sales went up.
How They Cut Down On Customer Wait Time
Providing services is an excellent way to bring in revenue. The challenge here is that today’s world is used to having things instantly. We ask our phones or our computers questions and expect to know the answers right away.
While we’ve made great strides in how quickly we can do things, our culture has lost some patience along the way. Although it would be a noble cause to teach your customers patience, it wouldn’t be a wise one when it comes to your bottom line.
So how do you meet customer demand for a quick solution? You need to provide customers with a quick turnaround on repairs and other services you provide.
So, how do you speed up the process?
Denver Divers decreased customer wait time by increasing their efficiency. By improving their inventory management, they were better able to track parts used in services, thus saving their repair team time and preventing loss of revenue due to improperly tracked items. According to Service and Rental Manager John Sherman,
“ Rain software has impacted the service area in the fact that it has helped us keep control over literally thousands of parts that we keep in stock. When that is accomplished, we don’t have delays with customers. It has given us the ability to meet customer need in a much more timely fashion.”
By streamlining your repair process, you’ll save time and money, and you’ll provide customers with a better experience which will bring them back again and again.
How They Used Mobile To Make Customers Happy
Today’s consumer expects to have mobile devices as a part of their shopping experience. In fact, more than 90% of consumers use their smartphones while shopping in retail stores.
What do consumers use their devices for? To compare prices, check reviews and search for product information.
A mobile device represents an avenue to fast, easy access of information. We usually connect this idea to customers, but the same is true for retailers. At Denver Divers, the employees provide customers with a better experience by using a mobile POS. Denver Divers’ partner Wendelinus Benjamin says the following regarding his mobile POS,
“Since it is cloud-based and mobile friendly, I can walk around the store talking to my customer. I don’t have to go to my POS counter, I can provide information to my customer: the price, the availability, just like that. What we have right now.. before, we didn’t have the ability to do that.”
Not only does a mobile POS allow for quick lookup of inventory information, it also allows for customers to make a quick purchase from anywhere.
What it All Comes Down To
By switching to a cloud-based, mobile-friendly Point-of-Sale System, Denver Divers improved inventory management, which provided customers with a better online and offline shopping experience. Their service area improved the customer experience by using the software to track inventory, cutting down on customer wait time. They gained the ability to take their POS anywhere in the store and out. By using the right POS software, Denver Divers was able to significantly increase sales.
“ In 2014 we brought Rain in and went live with the online store in June of 2015 and the next two quarters were astonishing. Our retail sales went up 23%.”
Bonnie Sherman, Partner at Denver Divers
In addition to increasing sales, and improving the customer experience, their new software improved their daily experience as retailers.
“What I like about Rain is website, POS system, inventory management, rental and repair service, they all sync together.”
Wendelinus Benjamin, Partner at Denver Divers
“It’s extremely easy to use”
Bonnie Sherman, Partner at Denver Divers
To learn how the Rain POS System can change your everyday experience, click here and schedule a free 15- minute demo.
Also published on Medium.