No matter what business segment you operate in, millennials must make up a large portion of your customer base. If they do not, then you are probably looking for the best ways to improve this because you know just how valuable millennial customers can be to the sustainability of your business. Fortunately, we have one great option for you to consider in helping you achieve this!
Loosely considered the cohort of people born in the 80s and early-90s, millennials grew up through one of the most sweeping technological eras of our time – accentuated by the rise of the internet. For this reason, most millennials are very comfortable and reliant on technology when it comes to all aspects of their lives. Generally speaking, technology is not something that surprises them, rather, it is something they expect. It is for this very reason that you, and your business, need to adopt the latest technology to help streamline your operations.
So, how can an EPOS system help in growing a millennial customer base? Let’s dive right in!
Think about it. When you imagine a millennial, what kind of business would you expect them to hang out at or visit regularly? The fast-paced, WiFi-accessible, relatively tech-dependent business with regularly updated products, or, a business that is slow and not entirely up to par with the latest technology? The answer should be easy – it’s the former. Why?
Millennials love convenience and getting things done fast. If there is a quicker, efficient, and better way to get something done, that is precisely what they would opt for. The same is true when it comes to point of sale activities. Waiting in line is a big “no-no” for millennials and doing everything you can to avoid this within your business should be your priority.
EPOS systems help because they automate the point of sale process to a point that long lines no longer have to be the norm for businesses. Sales can be closed faster and the next customer can be catered to in no time. This convenience and pace is something that will attract millennials to your business, so, if you have not got your hands on the right system, you should do so right away!
Not to say that millennials are conventionally cheap because they really are not, but loyalty programs and promotions are highly effective methods of engaging millennials. Loyalty programs and the members who sign up for them typically drive more sales into a business, given that they are more likely and inclined to visit it more than a non-loyalty member. This is why the more loyalty program sign-ups you have, the better it is for your business.
So, why are loyalty programs particularly enticing to millennials? Modern loyalty programs are digital, which means that they exist in a space that millennials are actively engaged in. Gone are the days when loyalty programs were just “Buy X and Get X free” promotions. No – today loyalty programs are diverse and complex, often adopting point systems that can later be used for better offers – think of it as a gamification of the entire point of sale and sales processes. The right EPOS systems would let you manage your various loyalty programs and offers through a centralized portal, allowing both you and your millennial customers greater convenience!
Remember how we spoke about convenience? That concept is very present in this section. With the right system in place, you could reach your millennial customers directly via SMS or email capabilities – all sent from your comprehensive EPOS terminal. Take the staggering fact that over 95% of millennials have a smartphone and are still becoming increasingly reliant on using it to text their friends, family, and peers – in addition to checking email and their social media. In fact, millennials are more likely to share their contact information with you more than just about any other age cohort, which makes building up your customer database all that easier.
Using this information, you could communicate directly with your customer via text message, sending them promotional information for goods and services they have a noticeable interest in. The right electronic POS system would have this functionality built in and, if you have it, take advantage of it! Each time one of your customers enters their phone number or email address after paying for their meal, you could have that information stored within your master customer database, which you could also use for your alternative marketing activities. SMS can also be used in payment confirmation/verification, which is important because more than half of the millennial consumer population prefer digital receipts – this trend is likely to shift even further in that direction.
There are many positives to having the right EPOS system within your establishment – especially if you are attempting to target millennial customers. In this piece, we ran through a few ways they help, however, there are many more ways! If you would like to know more, or, would like to see a powerful electronic POS system in action, get in touch with us to set up a personalized demo!