Traditionally, restaurant point of sale (POS) systems were primarily used to control cash and record sales.
Today's point of sale systems use data in ways never possible before - and savvy restaurant owners are learning what to do with that data to increase revenues, capture market share, become more competitive, while still controlling their costs and capturing vital sales information. Find out if you are able to answer some of the questions below:
Restaurant owners can use data collected from POS terminals to understand their customers, create repeat business, and ultimately learn how to be more competitive and profitable in their market. They use the data to answer questions such as:
- Who are my best customers? How should I reward them? How can I bring in similar customers?
- How can I turn my tables faster? How do I fill seats on slower time slots? Do I know my typical slow times? If so, am I adjusting labor accordingly, offering specials and promos to fill gaps?
- Am I optimizing my menu? What’s selling, what’s not? Is my menu too broad, too narrow? How is it impacting my food costs? Am I analyzing my menus by time and day of the week?
- Which of my employees are selling the most, turning tables faster? How can I motivate others to be best performers also?
You can use POS analytics to review customers' dining activities, such as learning how much customers are spending and how often they return to your restaurant. If you take advantage of loyalty programs, there is even more information that can be tied to individual customers - which means you can use this information to reach similar customers, know which add-on items to up-sell, plan targeted promotions, offer online ordering, etc.
If you currently own a restaurant point of system, are you looking at the reports that provide the answers to these questions? Are you taking advantage of promotions, loyalty programs, gift card solutions, targeted email marketing?
If you are interested in taking advantage of that data in your system or need to move to a new system that provides you with this type of data, give us a call at 907-243-2683, and one of our restaurant point of sale specialists will be glad to help.