The Benefits of MobilePOS To Improve Growth Forecasts

They say small is beautiful. Today millions of small businesses must be agile and clever enough to compete and grow in the face of larger competitors. Small business owners are fast learning to turn totechnology to fuel growth, improve rolling sales and marketing forecasts, and separate themselves from the competition.  

Just like a speedy Smart car or the latest Ford Focus ST tailored and powerful technology makes the difference between a trustworthy modern business, and one which merely delivers a heightened level of experience and market reach.

This year small businesses are wising up to the possibilities with smart devices as a mode to power their daily profit line, and more readily access alternative customer payment options.

The new trend of mobile payments and mobilePOS allows a business owner or a merchant to transform their smartphone into a mobile cash register. In short, it’s possible for them to accept traditional credit card payments from consumers on a smartphone.

How It Works

Merchants use a smartphone or tablet based on any of the main operating platforms, download an app on to the mobile device, and connect it to a secure card reader provider by the point of sale (mobile POS) partner supplier.

They can then start accepting payments instantly. Multi-level security measures protect customer data from being stored on the card reader or on the phone.

The Benefits

It’s Affordable – Keeping overall costs low means doing more business. Once an SME owner has bought a smart device such as an iPhone5 or an iPAD stretching it to become a mobilePOS centre is a low cost development. The transfer can be done for free or for a very low cost, and the pricing strategy offered by supplier is usually simple. All of which provides an incentive to test the system, if not only to compare results on different trading periods and against any normal terminal POS transactions. More mobilePOS payments will mean more profits and better growth.

Rethink Seasonal Demand – Small businesses can fall into the trap of thinking that their businesses aligns with certain trends and seasons. Through the advent of mobilePOS a local cafe, small parts producer or independent building supplier can arm staff with the smart devices to go to hubs, visit off-site centres, coirculate in the shops when it is busy or there is a cash register queue. Through this initiative they can speed up customer payments, deliver a better brand experience, and restock their inventory more quickly. In essence they can keep business happening and growing day-by-day rather than just in traditional high trading periods.

Ideal For Mobile Merchants – Lots of businesses don’t necessarily need the security of an office to conduct business. By employing sales staff who are deployed out on the ground, or taking the strategy to lower physical overheads, mobilePOS allows these types of firms to do business on the move. They can do business quickly and get the money rolling in faster, and grow much quicker.

First Time Merchant Success – Many new entrepreneurs worry about setting up their business due to the complexities of getting their product or service out there, receiving financing, understanding technicalities around invoicing, and the need to deliver a truly differentiating brand experience. First time entrepreneurs can turn mobile payments and mobile POS to their advantage from the get go by using it to differentiate from the local competition and start up without much stress, time or hassle. They can start making a solid buck very quickly, and as such grow much faster than if they had lots of the traditional business technology issues to factor in.

Better Customer Interactions – Small businesses thrive on feedback and recommendations from customers. The more a customer trust and loves small firms for its great service the more likely they will refer the business to others. With mobilePOS  small businesses can connect with customers in a whole new way. A brand’s narrative moves from a customer approaching the business to pay to the merchant reaching out with a simple yet powerful tool. That move can takes the customer relationship and trust factor to a new dimension. It can move a business and its reputation from ordinary to potentially quite extraordinary in a short space of time. And becoming extraordinary usually leads to a rapid upwards change in the bottom-line.

In brief, mobilePOS represents a positive step for small business to personalise customer service, payments convenience, close the sale more quickly and reach profit goals faster.

Today's small businesses can and should seize the opportunity to expand their markets and rev up their bottom line predictions through the adoption of mobilePOS -  the technology is there for the taking.

 

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