If you're like any business owner, you're always looking for ways to improve your operations and streamline your processes. And if you're using a worthwhile EPoS system, you'll have a great source of data at your fingertips that can help you do just that. A good point-of-sale system isn't just what it hints at in the name - it's also a rich source of crucial business insights that when used to its full potential can make a huge difference in your future endeavours, short-term and long.
When it comes to making use of your EPoS data, there are a few key things to bear in mind. Here are our top tips:
Improve customer satisfaction
Are most of your customers ordering at the bar or sitting down? What types of drinks are they ordering? Are they sticking around for food or just having a quick drink? One of the great things about having analytics integrated with your EPoS system is that it gives you a much clearer understanding of who your customers are, what they're buying, and what behaviours they exhibit. A competent CRM tool in particular is essential if you want to provide a more personalised service that customers crave and keep them coming back for more.
For example, if you see that a certain type of customer is buying a lot of a particular product, be upfront with offers of it, both in-venue and via your marketing campaigns. If you have a guest pinged as a VIP or a critic, you know who to deliver the best service to and who to be wary of. If a customer is noted as a vegan or a vegetarian, highlight those options, and avoid bothering them about your big steak deal. Not only will this level of care given to your customer base help you boost sales in the short-term, but it will also help you build stronger relationships with your customers that will last long into the future.
Monitor your inventory
Another important aspect of running a hospitality business is keeping track of your stock levels. If you're manually checking inventory, it's all too easy for things to fall through the cracks and end up being under stock when you need it most. But with an integrated digital stock management system, you can set up automatic reordering for certain items so that you never run out of them again. You can even get alerted when stock levels are running low so that you can take action before it's too late.
Even without automation, you can make sure you're keeping on top of your stock by regularly monitoring inventory levels via stock reports and analytics. It's crucial to have an accurate picture of what you have in stock at all times so that you can avoid running out of key items or overstocking on others. If you notice a trend in your product line where some items are often in higher demand than others, you can adequately prepare for the future and further bolster your inventory management's efficiency, which in turn keeps the rest of your operation running smoothly.
Keep an eye on staff performance
Your staff keep your business flowing, so it's important to monitor their daily performance, and with staff management data, it's quick, easy, and far more accurate than receiving individual employee reports. Analytics tracking your workers' daily sales totals and shift patterns can help you identify any areas where improvement is needed - aiding you in spotting any bad habits or poor practices that might need addressing - as well as prompt you to reward your best performers accordingly, further driving incentive and boosting employee satisfaction.
And, if you have a lot of employees, a smart PoS system with integrated staff scheduling can easily help you keep track of everyone's hours and calendar so you can ensure that everyone is getting the hours they need while avoiding unnecessary overtime costs. This information can then be used to make informed decisions about staffing levels and better allocate your budget. The best thing is that with an integrated system, you can do this from anywhere, including your mobile phone, making staff management more efficient than ever!
Monitor product performance
What are your bestsellers? What are your lowest performing products? Are certain products more popular with certain customers? Does product popularity change with the season, the day of the week, or even the time of day? Monitoring product performance is crucial to knowing how to drive in the most income and the most profit, and there's nothing better than peering into your data and analytics to poke at the trends that pop up. Is nobody ordering eggs and bacon past a certain point in the day? Perhaps you can push for a timed breakfast menu instead. Are people ignoring that one new dessert that you thought would be a hit? Perhaps it's an opportunity to take a look at your marketing.
If you use self-service, you can even utilise your EPoS data to streamline your menu and make it easier for customers to find what they're looking for. This might mean bumping up more popular items to the top of the list, grouping similar or often bought together products, or adding certain keywords to make it easier for the search function to navigate. You might even notice that your lower selling products are simply harder to find, or, if that isn't the case, that there's a problem elsewhere that needs looking into. Whatever approach you take, make sure it makes the most of the data at your disposal so that customers can find what they need quickly and easily.
If you're not using your EPoS system to its full potential by utilising its data and analytical capabilities, you could be missing out on crucial insights that could help massively improve your business. By monitoring factors like the ones we've put forward, you can get a better idea of what's working well and where there may be room for improvement, so make sure to take advantage of the data at your fingertips and use it to streamline your operations and improve your business!
Here at SPARK, we're passionate about hospitality efficiency. Why not get in touch today and see how we can help your business grow?
