4 ways to make your small business more agile in 2023
Looking for ways to enhance your retail business this year and create a better customer experience? We show you what you need to know.
For modern retail businesses, agility is the name of the game. With steady competition from online sellers, it's important to offer customers what they want, when they want it.
But how can you put these ideas into action? We take a look at some of the key ways you can make your business more agile in 2023.
1. Replace static POS with portable payment systems
For years, in-store retail has focused on having a point-of-sale (POS) system in a dedicated section of the store – usually with an attendant desk or kiosk.
But this system isn't necessarily the most efficient way to provide customers with a frictionless experience in 2023.
Having a central hub that's the only place sales can be carried out needlessly clogs your shop floor, slows down the sales process and potentially put off customers.
After all, a store that's buzzing with excitement can bring more customers in – but one that's overflowing with queues will drive others away.
Adding a mobile POS – or several – to your store offers a variety of ways to streamline your process and enhance the agility of your business.
With the right set-up, you can drastically cut queues – and in turn, customer waiting times – by being able to service customers anywhere on the shop floor.
Let's take a look at the Square Reader as an example.
The Square Reader syncs with your smartphone or tablet, allowing you to use the Square POS app and handle credit card payments anywhere in your store.
Customers are able to tap and go with their card or smartphone, which means a quicker process and less queuing. This also ensures that you've still got accurate information about your stock levels.
Square also provides customers with paperless receipts, which means less waste for you and better record-keeping for the customer.
Tools like the Square Reader also enable you to easily process sales if you're taking your business on the road or if you're running a pop-up stall.
At the moment, you can score a discount if you purchase a Square Reader and a Square Dock. Join before 14 May 2023 and you'll get $20 off the Square Reader and $10 off its dock.*
📱Sync to your smartphone or tablet for easy, portable sales processes.
Process sales anywhere in your store, or make your travelling business even more mobile.
💲Process sales safely and securely
Accept credit cards, debit cards, contactless cards, Google Pay and Apple Pay with one easy and secure system.
🛒 Easily keep track of inventory
Real-time inventory and sales reporting means you can check your stock levels at a glance.
2. Diversify your sales outlets
One thing that often trips up businesses with a retail storefront is focusing solely on the retail storefront.
But these days, it's important to have a presence on multiple platforms to ensure you're accessible to customers.
The most obvious is a dedicated online storefront – and you may already have one.
The good news is that even if you don't, there's no need to be a technical whiz to set one up. Square offers a variety of services for online sellers, including website creation and a backend payments system.
It's also worth considering third-party sales websites (such as Catch.com.au or eBay) or social media sales.
If you're overlooking these outlets, you're potentially missing out on a range of different customers who might not find you otherwise.
The easier you make it for customers to buy from you, the easier it'll be to make sales.
3. Invest in digital signage
In-store marketing is one of the most important investments you can make.
This is why there's been a shift towards using digital signage as opposed to the traditional cardboard, plastic and sticker options.
Although these more traditional styles of marketing still have their place in-store, digital signage offers more variety.
You're able to upgrade offers and messaging on the fly while also using tools like video to draw customers into the store. There's no question they're a more dynamic presence and look than static posters in the store window.
Using digital signage to incorporate tools such as QR codes can also make it easier for customers to access promotions, sign up to emails or share content on social media.
From an owner's perspective, you're also able to drastically cut down on wastage in both time and resources.
There's no more need to put in orders for custom planograms and then have to wait for them to arrive. And you won't need to worry about throwing out a ton of marketing materials once they're outdated either.
4. Leverage customer data to get ahead on trends
Businesses of any size often have a disconnect between who they think their customers are and who they actually are.
This is why customer data is one of the most valuable resources you have as a business owner. It provides a more objective overview of who is shopping with you.
And when it's leveraged correctly, it can help drive future sales far more effectively.
Good-quality customer data will typically draw from a variety of different sources. Email lists, customer surveys, transaction histories and more can all be used to build out customer profiles and identify which demographics make up your core customer base.
Some businesses will also use specialist outside agencies to build a customer profile.
By looking at buying patterns and customer demographics, you're able to tailor client comms more effectively, allocate resources efficiently and look for new expansion opportunities for your company.