For every retailer, the use of customer information is a standard part of operations. However, not every merchant is using this kind of data to the best of their ability and many are missing out on the chance of taking operations to the next level.
Butter Lane is a specialty bakery with two locations in New York City that went through the process of updating their data systems. Co-founder Pam Nelson was interviewed in a recent article from Small Business Trends about how the company was able to improve its overall operations.
According to Nelson, the company had always kept a deep customer database but predominantly used it for email blasts and marketing strategies. However, over the last year, the company has implemented a new business intelligence application that is attached to a point of sale system. This allows it to track any credit card processed through the system, differentiate between return customers and new ones and run a loyalty program.
"By collecting data on your customers through loyalty programs, you can discover what products or services they prefer and which customers tend to spend above a certain threshold," the article reads. "You can use this information to segment your customer list and target specific customers with offers most suitable to them."
With the help of a retail solution provider that understands the importance of integrated point of sale software solutions, any organization can take the use of customer data to a new level and start making smarter decisions.