How to make a professional invoice: Expert tips and a step-by-step guide

How to make a professional invoice: Expert tips and a step-by-step guide

Now that you have sold a product or rendered a service through your online shop, it is time to get paid. This is great news! This is great news!

What is an invoice? How do you make one? And what information should you include? This step-by-step guide will help you create an invoice.

What’s an invoice?

An invoice (also known as a sales invoice) is a document that bills a customer for your services or products. An invoice is an account receivable, which obligates the buyer to pay. It is a written agreement between you, the seller, and your client or customer (the buyer).

Invoices can also be a great way for your business to track its earnings. Written invoices are a great way to keep your finances organized. They also simplify accounting for tax season.

What is the difference between a bill or an invoice?

Technically, nothing. Bill and invoice are both terms used to inform customers or clients how much they owe on a product or service. The main difference is in who refers to the document.

Let’s first define each word:

Invoice definition

An invoice will be issued by your business to the purchaser detailing the sale of products and services, as well as the amount owed. An invoice is used to:

  • Document a business transaction that involves payment from a customer
  • You must request payment from the customer within a specified time frame
  • Maintains a list of products and services sold to assist with bookkeeping

Bill definition

A document is sent to your customer by you that details the amount of money due in exchange for goods or services. A bill

  • Let a customer know how much they must pay.
  • Provide a detailed record of your customer’s expenses for use in bookkeeping

The document is often referred to by the business as an “invoice”, while buyers get “a bill” which details the amount they owe. This is how it works:

Step 1 – Your company sends an invoicing to your customer

Step 2 The bill is delivered to the customer

Step 3 The customer repays the amount owing

Step 4 – Your business will issue an invoice receipt to prove that payment has been made.

What are some of the most important legal requirements for invoicing?

If you want to create a professional invoice, there are many details that you should include. These are the essential details that your invoice should contain:

  • Your company name: This is your official business name and tax ID number. To make your business look more professional, include your logo.
  • Name of your customer: Identify your customers, including their name or business name and tax ID number.
  • Contact details Enter your address, phone number and customer contact information. This information is particularly useful in the event that either party needs to contact you.
  • Invoice number An invoicing number is a way to keep track of your invoices so they don’t get mixed up. Pro tip Track your invoices easily with an abbreviated version your customer’s name followed by a dash and the month/year. For example: Invoice WIX-0520)
  • A list of costs and services: Invoices generally include the items purchased, whether they are products or services. Prices and quantities can also be included. To avoid confusion, enter as much detail as you can. If you offer a service by the hour, describe the time it took to complete the task. If applicable, include a separate line to account for wire transfer fees or VAT.
  • Dates Your invoice should include all relevant dates such as the date the invoice was issued, when the sale or service occurred, and the time that the invoice covers (for periodic bills).
  • Total amount Draw a line showing all the amounts your customer owes to you. All products and services should be included in the total amount. Before you calculate your total, don’t forget about any additional fees.
  • Payment information Provide your bank information to help your customers pay you. Third-party payment processors like PayPal and Transferwise are also used by many customers. They only need an email address and not sensitive information such as your bank details.
  • Terms & Conditions: On every invoice, write the terms and conditions that you and your customer have agreed to. These could include your rates, return/refund policy, product warranties, shipping information, and privacy policies.
  • Due Date: Avoid confusion later by clearly stating when you expect payment. Write “May 31, 2021” and not “Due within 30 days.”

Tip: Set a time frame for all invoices so that you know when to expect your payment. Your customer should pay you within 30 business days of the invoice’s date. However, it is possible to make this shorter or longer depending upon the nature of your business and how much you owe.

5 tips to keep an invoice looking professional

An invoice is another aspect of your business. Invoices are a professional way of building brand trust and letting customers know that they must pay on time. These are 5 tips to keep in mind.

01. Include branding

To keep your branding consistent, add your logo to your invoice. You don’t yet have one? Use a Logo Maker to create a logo for your company.

02. Use an invoice template to create or modify

You can either create your own template, or you can use one already created. Keep your invoices consistent in appearance and structure so that your clients or customers can recognize them easily and find the information they need. An invoice generator can also achieve the same result.

03. Make sure to check spellings and find any mistakes

Although it may seem obvious, you’d be amazed at how many businesses fail to do this. Customers can see through your business if you have to correct or resend invoices. Before you send your invoices, double- and triple-check them for errors.

04. Multiple payment options available

It can be helpful to offer customers a range of secure payment options such as digital wallet, credit card, or wire transfer if you want to ensure that they pay promptly and on time.

05. Thank you

It is a good idea to say “Thanks for your business” at the end of your invoice. You can be genuine and let your customers know what you mean to them. This can increase the probability of payment by 5%.

How can I create an invoice?

Invoice generator

It’s now easier than ever to create an invoicing. You can actually create a professional invoice within minutes with a HTML3_ free invoice generator HTML3_. These are the steps to follow:

Step 1 – Add your information

Include key details that will benefit both you and your customer/client.

  • Name of the business
  • Website for businesses
  • Contact information, such as email or phone number
  • Mailing address

Step 2 – Describe the services or products you are charging

Invoice settings will include the invoice number, issue date and due date. Include a description and a line for each product. Then add:

  • Hourly rate or price
  • Quantity (or the number of hours worked)
  • Discount (if applicable).
  • Total
  • Additional terms or notes

Step 3 – Finalize and Send!

Wix’s Invoice Generator will calculate your total automatically. Make sure you have all of the necessary information before you send. You can either email it directly to your client, or download it.

Step 4 – Issue an invoice receipt

After your customer has paid, you can send an invoice receipt to follow up. This will help you keep track all payments received.

Invoice from Scratch

These steps will help you create an invoice directly from scratch if you don’t have a generator.

Step 1 – Open a blank sheet

Use a program such as Google SheetsMicrosoft Excel to open a blank spreadsheet.

Step 2 – Create a branded invoice head

Invoices should include a header with the brand details and billing information.

  • Your logo
  • Contact information for businesses
  • Invoice date
  • Invoice number

Step 3 – Add the information of your client

Include the contact information of your client, such as company name, address, phone number, and name of relevant contact. You can use this example:

The Bill To:

Name of the Company

Address Rd.

State 55555, City

Step 4 – Add the due date

At the top of your invoice, write the date, month, and year due.

Step 5 – Add an itemized sales list

You can then create a table by adding columns that detail the services and/or goods provided, date of order and the cost per unit. Be sure to indicate the currency. Example:

Step 6 – Calculate the total

To calculate the total amount due on the invoice, add a last column. Excel’s SUM function and many other spreadsheets can do the math. Remember to include any applicable discounts, fees, or tax rates in your total.

Step 7: Add payment details

Include relevant payment information such as your PayPal ID. Include your name, account number and SWIFT code, bank and address, as well as the bank wire transfer information. Add a personal note at the bottom such as “Thanks for doing business with me!”

source https://www.wix.com/blog/ecommerce/2020/08/what-is-an-invoice

Store Management Tips for Busy Entrepreneurs

It’s obvious that running an online shop is a full-time job. However, taking the time to streamline your store management and develop systems can help you make more time, reduce stress and increase revenue. Amazingly, all this without endless to-do lists or sticky notes reminders on your desk.

These are some simple store management hacks and tools that will increase your efficiency and work to your benefit:

Before they ask, answer questions

It is important to not leave potential customers hanging. Instead of monitoring live chat and checking email constantly, you can be proactive and address frequently-asked questions before they are too late.

FAQ page can be your first line defense against unwanted phone calls and emails. It also creates a more user-friendly environment. For more complicated topics, informational blog posts can be a great idea. These could include product and service descriptions as well as software tutorials and return policies. When appropriate, you can link FAQ topics to your blog content.

This helps to keep buyers away from any questions. Customers are more likely to purchase if they can find the answers to their questions easily.

Your store dashboard allows you to manage payments and refunds

WooCommerce payments is an excellent time-saver because you can manage refunds and payments right from your WordPress dashboard. Instead of logging in and out of multiple accounts you can manage your business finances from the same place you handle products, analytics, and other things.

It’s also a great tool to improve your checkout experience. Instead of having to redirect customers to a third party payment gateway, customers can pay directly from your website. You can also accept multiple currencies.

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Streamline your inventory management

Inventory management is a time-consuming task that can make running a business difficult. Automating the inventory update process is better than manually updating your warehouse or physical location inventory.

Scanventory or Square can help you organize your inventory management. It is possible to generate labels and print reports or update inventory in bulk, rather than one item at a given time.

Inventory management is the most important thing that can stop a store from growing. You can forget about those worries if you have the right tools.

One click to print shipping labels

Ever wonder how certain stores can charge such low shipping costs? They’re likely not paying full price.

WooCommerce Shipping allows you to print labels right from your dashboard, saving you tons of time and money. You can save up to 67% when you order domestic or international shipping at specially-negotiated rates with USPS and DHL.

Drop off your prepaid packages quickly without waiting in line at the postoffice. Or have them delivered right to your home by USPS.

Automate emails

Transactional emails can be used to notify customers that their order has been received, shipped or delayed. WooCommerce offers a set of default orders which automatically go to each customer. You can also include tracking information with an extension.

You can take things one step further and create additional automated emails. WooCommerce Order status Manager allows you to create new orders and then send emails as each step is completed. If you make wooden furniture by hand, you might add steps for “assembling” or “staining.” This will keep customers informed and allows them to send emails when each step is completed.

To customize transactional email messages to your brand specifications, you can use tools such as MailPoet and send marketing messages such as abandoned cart emails or newsletters.

Batch social media and blog content

It is amazing how your mind can go blank when you are asked to post on social networks. You can either quit posting or settle with a less-than-stellar plan.

Scheduling posts ahead of time helps you maintain a work-life balance, and lets you take advantage of the creative times. It’s OK if you have multiple ideas for the same thing, such as a customer review that uses a similar image. You can create as many as possible and then spread them over time.

Keep in mind that each post will only be seen by a small portion of your social media followers. If enough time has passed between posts, you can reshare them.

Repurposing content from different marketing channels might be an option. For example, let’s say you have a blog about a product or service you are promoting. You can modify something you have already written about the topic to suit your different channels. Your clever tweet was a hit with your followers. It can be shared on Facebook and turned into an Instagram image. You don’t have to create new content if you already have great content.

Comment spam must be eliminated

While enabling comments on your site can be a great way of building community engagement, it is likely to encourage spam. However, this doesn’t mean that you have to manually manage spam. With tools such as JetpackAnti-spam, you can stay two steps ahead.

It’s not only time-consuming, but it can also be risky. Spammers can be sneaky and you might not be able to identify a fake. Jetpack Antispam is a program that learns from millions and recognizes the signs of spam. It can eliminate comment spam before you have even seen it.

This will save you time and improve your customer experience.

Five Tips to Attract Back To School Shoppers

Major retailers are already offering back-to-school discounts, but small and medium-sized merchants still have the opportunity to be successful in this highly competitive market. It is important to be different from the big boys. Online sellers should optimize their eCommerce websites to increase sales and attract customers. Auctiva is an eBay auction management software. Here are some tips.

1. Unique descriptions are the key to SEO.

Keywords are often all that is needed to land prime real estate in product search results. According to Auctiva’s search engine optimization team, keywords are not as important to search engines as a well-written product description. Your listing will be visible in search results if it contains relevant keywords.

If you’re selling a backpack, use the word “backpack” in your title and description. Overusing words in order to get a higher ranking on search engines can be detrimental.

Don’t copy and paste information directly from the manufacturer’s website. This will cause your listing to be lost in the sea of hundreds of other listings that have done it. Search engines will prioritize the relevant and unique over the optimized.

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2. 2. Take advantage of merchandising capabilities.

You may have certain merchandising options depending on the selling platform or shopping cart you use. These features can be used to ensure school shoppers are able to locate the items they need in your store or see them first.

Make sure to use eye-catching banners and highlight your most popular school-related products on the homepage. Tag the products that are relevant to back-to-school so they will be visible when shoppers go to this category. You might consider adding modules to your product pages and home page that will allow you to cross-sell and up-sell related products. Also, offer incentives to encourage people to purchase more than one item.

You can create unique product bundles if you sell products that are already available from multiple sellers. You could sell a One Direction backpack and a water bottle with the band’s logo, and your listing would stand out from others that only offer one.

To make your listings more visible to students searching for school supplies, you can add “back-to-school” or similar terms. These listings should be updated after the season ends to ensure that you don’t discourage shoppers from not going to school.

3. Look beyond the lunchbox.

Back-to school is not only a time when students return to school, but also when they start after-school activities and other extracurricular activities. Rebecca Miller, Auctiva’s product manager and eBay seller for over 13 years, reminds us that kids will also need to be dressed for these activities.

She says that the beginning of school year is a good time to sell cleats and knee pads, tennis rackets, and other gear. For example, think dance attire, musical instruments, art supplies, and scouting uniforms.

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4. Shipping incentives.

Online shoppers have come to expect free shipping and generous returns policies. So offer them whenever possible. A recent survey from Boston Consulting Group found that 74% of U.S. consumers cited free shipping as their top reason for buying online. The survey also revealed that 35 percent of respondents said free shipping would increase their likelihood to purchase. These incentives can be offered by tying free shipping to a minimum purchase threshold that is higher than your average selling price.

To offset shipping and return costs, consider increasing the item price by a few percentage points. Buyers will feel more confident buying from an easy seller. This will increase your sales, even at higher prices.

5. Imagine success many times over.

High quality images are essential for e-commerce. The more photos you provide, the better your sales and customer satisfaction. Online buyers can’t inspect the items for themselves so make sure they are confident by showing them what they’ll be receiving.

Photographing items on a neutral, white or solid-colored background is a good idea. It doesn’t distract from the product. You can enable zooming or enlargement if you are able to so that buyers can focus on particular aspects or get a closer look at the item.

Avoid using stock images from the manufacturer. Buyers will appreciate the fact that you took the time to take photos of the actual product, even if it is in its original packaging.

Quick Query: Volusion COO on Platform Upgrades, Tips to Merchants

Volusion is an early-day hosted shopping cart platform which has grown to represent 18,000 online shops. The business has recently upgraded its platform and to describe those updates, among other ecommerce topics, we talked with Volusion’s chief operating officer, Clay Olivier.

PeC: Tell us a little history of Volusion.

Clay Olivier:“We have been in business since 1999. The business was founded by my spouse, Kevin Sproles. Actually, it is a great start-up story itself. He began in his parents’ bedroom with allowance money and he began designing websites. Like a great deal of entrepreneurs, he just put it all back into marketing and gradually built it up. In 2003, I left Dell Computers, where I had an extremely successful career, and was prepared to begin my own business.

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“I started an online shop using Volusion applications and found it on likely page three of Google, and it was this remarkable platform. There was not a whole lot of marketing there since it was really a programmer, Kevin, who’d initially started it, and I just adored the platform. It was better than everyone else and so I started using it.

“I really became an angel investor on the bargain and opened up an office in Austin [Texas], and immediately hired a sales and marketing group and the rest is history. We have worked with over 100,000 entrepreneurs in addition to a whole lot of small companies and Fortune 500 brands, and we have had tremendous success. And lots of it’s because we actually listen to our clients. We are really focused on ensuring they are effective and frankly just have a terrific time. We are entrepreneurs in mind.”

PeC: What is your customer count now?

Olivier:“We have over 18,000 busy shops. The huge majority are small businesses, but because our platform is scalable and we’ve got all of the safety things that all the bigger brands need. And we have had a whole lot of success there since we are so competitively priced and actually offering sort of a one-stop store.”

PeC: What is the selection of prices for your products?

Olivier: “It starts at $24.99. That really includes everything merchants need, such as hosting.

“With regards to small business, plans ranges up to about $159 for a month; then for individuals with bigger needs, [we’ve ] custom pricing because of quantity and items of that nature.”

PeC: Are there any transaction fees?

Olivier:“No, there are no transaction fees in any respect. It truly sets us apart from people like Yahoo! and ProStores.”

PeC: Your company has just announced updates to your platform. Please give us a summary of these.

Olivier:“A lot of these [ideas for the] updates came from our customers, as we have ecommerce specialists in-house that really try to listen to our community.

“We included Soft Add to Cart, a feature that actually helps enhance the shopping experience by allowing customers to add their products in the cart without leaving the product details page; and, gift registry, which was something that people have been asking for, for quite a long time. A new social feature we added is named Insert This. It helps online shoppers to split the products they see on the actual merchant’s site across a hundred social networking networks, such as Facebook, Twitter, Kaboodle, StumbleUpon, and much more. Things like this help elevate brand awareness and get more people to purchase.

“We also made two improvements to our government area. There are far more intuitive navigation tabs and menus. We redid our order-processing page. There are a few new performance indicators. We really built out a completely different user interface group and, this year we will see some really big improvements on this front.

“Also, we greatly improved our search capabilities for all our merchants. The refinement we added actually takes it to another level. It allows grouping of additional key words or terms like key words, refinement by manufacturer, prices, and custom fields. For bigger merchants that have a good deal more SKUs, it is critical because it helps people find what they are actually searching for.

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“My Rewards is what we’re calling our loyalty reward program, which is a really major thing. We also made the software so you can actually change any field on the shops. So, essentially, you can translate your applications or your site into any web-safe language. There are a whole lot of little things which were also added, but those were a few of the sort of important features.”

PeC: How do you balance all the characteristics which Volusion provides against a new merchant only coming in trying to get up and running?

Olivier:“I think that, though we do have a great deal of features, it’s quite easy to use a whole lot of it. So as to produce a product, you just have to fill out three fields, which I think is product name, product price, and product weight. The new version definitely has improved lots of that.

“I believe one of the things which you will see from us in the future is truly trying to separate out some of the innovative features from the entrance level attributes to ensure when a new merchant comes in from a consumer’s perspective, all they see is only those basic capabilities. So, though there are three fields you need to fill out to really create a product, there are probably 50 to 75 more areas which will let you actually do anything about your product you could want. If you truly need to scale and grow, those are things you are going to need to do because it’s very competitive out there. If you’re simply displaying a product online and you are not wanting to do any sort of sophisticated vouchers or you do not need to actually deal with search refinement, it will really hinder achievement; and as time goes on, having the performance helps distinguish our merchants out and for the people that we’ve seen succeed are utilizing a whole lot more of those features.”

PeC: Anything else on your mind for our readers?

Olivier: I feel a really major concern is security. PCI certification is truly a big deal, and there are a whole lot of providers out there that, regardless of the claims they make in their sites, are really not certified.

“If you visit Visa’s site or to Google, you type in’Visa PCI,’ and on this page if you click on the international list of PCI/DSS Validated Service Providers, you will see everybody that is actually certified. No amount of advertising spent can alter that. And, so we’d really like to see folks be certain they’re being certified. [Editor’s Note: The Visa listing to which Mr. Olivier refers is for hosted shopping carts. Another list, for PCI accredited licensed carts, appears on the [PCI Security Council website ] (https://www.pcisecuritystandards.org/index.shtml)

“I would also tell people to use some negative keywords [in pay-per-click marketing campaigns]. I know a whole lot of people could go,’Yeah, most of us know about negative keywords,’ but we think that it’s one of those things that entrepreneurs do not do enough of. We have particular campaigns that we run and at one ad group, we’ve got as many as 950 negative key words for the Volusion ad that we run. Negative keywords can literally save your organization thousands of dollars. Not only can it improve your quality scores and the relevancy of your ad, but also it actually can optimize your performance. Using things such as the keyword suggestion tool, looking at what your competitors are doing using SpyFu and things like that really can help you optimize your campaigns.”

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12 tips for creating a Wonderful Client birthday App

What is the one thing people are most fond of, after their name?

Their birthday!

Annual events such as Christmas, Valentine’s Day and Mother’s Day roster around every year, and while not everyone celebrates them, everybody has a birthday.

Even if something like 19 million people (7 billion people divided by 365 days) share the exact same birthday throughout the world every day, there is still something quite special about the day you were born.

We often recall their birthday parties as a kid, and how they celebrated their landmarks. With the passing of”snail mail”, a birthday card is becoming a rarity and thus it’s 1 marketing method that will make real cut-through with your client.

A birthday program can allow you to win the loyalty and focus of your clients — but only if you use it!

How often have you been asked for your birthday details by different companies? Dozens of times, possibly? And yet are you really surprised to get say, just a small number of emails or mass-produced postcards from firms sending you birthday wishes annually?

People today feel unbelievably indulgent in their birthdays and a few (like my partner!) Series out what he calls the”Festival of Me” for a fantastic week or so. It is their time to feel unique.

Since I introduced an email AND handwritten birthday greeting program, my sales have zoomed. Coincidence? I don’t think so.

Of those repeat buyers who have received a birthday card for themselves, their spouse or their kid, 38% have purchased another product within three months.

Here is 12 tips on creating a Wonderful customer birthday program:

  1. If you do not already do so, request your client’s r day, month and year of birth upon registration. While the month and day is the minimal information you need, requesting for the year can allow you to target those particular milestones, like their 18th, 21st, 25th, 30th birthday and so forth, and fine-tune your demographic information so that you understand what age groups are purchasing your products.
  2. In case you’ve got a CRM system, and whether the information is appropriate with regard to the products that you sell, request their spouse’s or their children’s names and birthdates too. Added birthdays or anniversary dates offer you several opportunities to target them during the year.
  3. Design branded, but clean interior greeting cards that you can use for any occasion. Do not design it with a Happy Birthday message; it is not likely to be design-equally appropriate for young children and for adults, and if you request anniversary dates, they won’t be served with such a particular birthday card design!
  4. Create a basic message that may be tweaked depending on if they were the first purchaser or the recipient, an adult or a child, and if you are mentioning their age.
  5. You will make the most effect on your customer in the event that you really handwrite the birthday card (ideally you’ve got fine writing) and get more points for handwriting the envelope, too! Pre-printed, mail-merged greeting cards using their name to distinguish customers are not quite as special. What is the cost and effort of a handwritten card value to your organization’s business? Remember: the only real birthday cards most adults get these days are out of their mothers or grandmothers so yours will stick out!
  6. Enclose an offer to observe. Most people today feel very self-indulgent around their birthday and might treat themselves then to a special offer from your organization. Making it date-specific will push them to behave, while open-ended promotions save you printing costs.
  7. If you are sending the card into your client’s workplace, ensure the coupon or offer code provides over single-use: they might be delighted enough to demonstrate their birthday card to coworkers, and pass the voucher . I’ve had several orders come in from business addresses where I have just sent the client’s birthday card.
  8. Ideally, check your clients’ address details a month before their birthdays. Most individuals are open to getting something in their birthday. I’ve open rates of over 30% on those”Can I please check your address?” Emails with about 20 percent of customers responding with a new address.
  9. Send the birthday card at least one week before their actual birthdate. This gives it a lot of time to get there, allows them enjoy prolong the Festival of Me, and it lets them display your card (which might be the only one they get ) for his or her friends to see.
  10. Another reason to mail their birthday early is that they might have moved. If they’ve completed a mail direction it might still reach their new address in time.
  11. If you get their birthday card Return to Sender, email them to update their address and wish them a belated birthday.
  12. Do not mention their age when your client is a woman aged over 30, or a guy older than 40. Lots of men and women that are older than this are uncomfortable having people know how old they are, especially if you’re sending it to a work address where coworkers might see it.

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5 Tips for Starting an Ecommerce Business

Online retail sales are growing quickly and creating substantial opportunities for entrepreneurs. In actuality, there might be as many as 650,000 online shops earning more than $1,000 monthly. With a little bit of work, a new ecommerce business can succeed.

The market is there. The Consumer Electronics Association estimated that in 2014 about 143 million American shoppers made an internet purchase. The total U.S. population is approximately 318 million, so that nearly 45 percent of all Americans, including children, made an online purchase this past year.

What follows are five pointers that will assist you begin an ecommerce business.

1. Sell Hard-to-find Products

You will earn better profit margins and, ultimately, be more successful, if you have less competition. Put another way, your ecommerce company may work better if you market relatively hard-to-find, market, or special products.

Consider Tide laundry detergent. Tide is a fantastic product. It solves a consumer issue. It’s consumable, which means that you may sell it to the same customer. But it’s also available at many, many shops. Target sells it. Walmart sells it. You may purchase it on eBay, or, sometimes, get it in the convenience store on the corner. Virtually every grocery store in American sells it. It’s easy to find and purchase.

Tide is a fantastic product that can offer real value to your clients, but it’s also a mass-market item, available at thousands of shops. So in case you sell Tide, you have a good deal of competition.

If you started an ecommerce company focused on selling Tide, you’d need something aside from the merchandise to compel shoppers to pick your store. You’d need them to change purchasing habits.

In contrast, consider Suples Training Systems’ Bulgarian Bag. This is a totally unique product. Originally made by Ivan Ivanov to train Olympic wrestlers, the Bulgarian Bag is only available from Suples’ site and its authorized dealers. Suples has no competition because of its patented product. While the market for Bulgarian Bags is a lot smaller than the market for Tide, Suples can still make a great profit.

Suples presents unique products. It has no direct competition. While the general market could be smaller, Suples can continue to be profitable with comparative ease.

As a third example, consider Dollar Beard Club, Beardbrand, and Billy Jealousy. Each one of these companies sells beard oil, an essential grooming supply for some guys. Beard oil is available from many sites, but every one of those companies have their own oil, only available from their website.

The trick here is to find products that can help make your online store a destination.

2. Solve a Problem

In a February 2015 article, I wrote that”there’s a mantra of sorts in entrepreneurial circles which says’do not simply begin a business, solve a problem’ If you solve someone’s problem and generate a must-have merchandise or service that does something more readily, better, less expensively, or simply faster than existing solutions — the thinking goes — you ought to be a success.”

Solving a problem doesn’t necessarily mean that your company should invent something. Rather, occasionally solving a problem is often as straightforward as making something only a little easier.

Men with big feet may sometimes have difficulty finding shoes, but 2BigFeet solves this problem.

Consider the case of 2BigFeet. com, which sells men’s shoes in sizes 14 to 22. There is, perhaps, nothing novel about purchasing sneakers. However, for many shoppers, this website solves a problem.

Men with huge feet can’t simply go to the mall, walk into a conventional shoe shop and find a pair of sneakers. Physical shoe shops almost never take stock up to size 22.

A online shopper can get a size 16, 17, or 18 on Zappos or Amazon, but it’s like searching for the proverbial needle in a haystack. But on 2BigFeet, these dimensions are in stock and easy to discover.

A company built on helping clients solve a real problem should be a true success.

3. Seek Repeat Shoppers

In a 2014 study, RJMetrics, a data and analysis company, found that the top 1 percent of an ecommerce retailer’s customers will invest up to the bottom 50 percent over time.

This is true for at least two reasons. The top one percent of your company’s customers will be repeat shoppers, returning again and again to make a purchase. These repeat customers will spend more over time, because they aren’t merely making a single purchase.

Secondly, repeat customers are inclined to spend more on each and every trip.

The above report from RJMetrics estimated that the normal ecommerce client will spend about $54 per purchase. But an ecommerce company’s top 1 percent of consumers will spend about $267 per trip — more than 5 times as much as your normal customer.

When you’re beginning a new ecommerce business, you must concentrate on getting new clients. Nonetheless, you ought to do whatever you can to transform those new customers into repeat buyers.

While there are lots of things your company can do to make repeat business, make sure that you’re adding shoppers to your email list and supplying a fantastic shopping experience right from the start.

4. Invest in Email Marketing

Email marketing is one of the very best tools that online retailers need to drive sales. As soon as you’ve a fantastic collection of active clients, you can send an email and see that the orders come in. In reality, by some estimates, for each dollar invested in email advertising, your company can expect a yield of over $44.

Email marketing is a relatively mature industry, so there are lots of excellent email providers, including companies like MailUp.

For this to work, new ecommerce companies will need to invest money, advertising, and time into email list construction.

  • Use a good email service provider, such as MailUp, MailChimp, Bronto, Constant Contact, GetResponse, Silverpop, or comparable.
  • Opt in shoppers at checkout.
  • Product and promote email subscriptions on your website.
  • Spend some time segmenting your listing.
  • Send useful and valuable email messages.
  • Use automation to enhance performance.

5: Plan Your Order Fulfillment

Inventory management and order fulfillment are often significant issues for new ecommerce companies.

Which products should you stock? How many should you stock? What size boxes will you want? Which shipping companies work best? How much will shipping cost?

Order fulfillment is a substantial part of your clients’ experience. If a package arrives on time and in great shape, your clients will likely be inclined to order from your website again. But late orders badly packaged will not encourage repeat business.

Ask yourself these questions if you intend for order fulfillment.

  • Can I have this item drop shipped?
  • Can I have sufficient company to utilize an order fulfillment company?
  • Can I offer free delivery on this item?
  • What are the cheapest way to ship this across the nation?
  • What are the cheapest way to ship this within my area?

In the long run, planning for satisfaction before you launch your shop should help you begin with better footing.

Tips on how to Select The Finest Pizza POS Software program to Enhance Gross sales

Individuals love pizza a lot we eat 350 slices of it each second. However working a pizza retailer will not be like working each different restaurant. Particularly, a pizza POS system must deal with complicated order customization, have top-notch supply administration, driver administration, seamlessly combine on-line ordering, have coupon administration, and above all, be actually, actually quick.

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5 options that will help you select the very best pizza POS software program

1. Time Is of the Essence

An intuitive POS system that integrates on-line orders with cellphone and in-house orders means you may course of and ship extra orders. Search for pizzeria POS system to incorporate caller ID, auto deal with full, dynamic mapping, final order recall, and real-time menu administration so you may mechanically sync updates out of your in-house menu to your on-line menu.

Individuals love pizza a lot we eat 350 slices of it each second. However working a pizza retailer will not be like working each different restaurant.

2. You Want Help

Spending time changing into an IT professional in the course of the 7 p.m. dinner rush as a result of your system crashed is nobody’s thought of fine enterprise. U.S. primarily based buyer help accessible 24/7/365 is crucial for a pizza supply pos system. Software program must also embrace common, automated updates—and updates ought to ideally be attentive to enter from enterprise house owners.

3. You Need Restaurant Advertising

Repeat prospects = profitable companies. Repeat prospects sometimes common 20 % of a pizzeria’s enterprise, however a loyalty program can elevate that quantity by 35 to 45 %. A Bain & Co. research discovered that for those who can improve repeat visits by 5 %, you may increase profits by 25 to 95 percent. A great POS in your pizzeria ought to characteristic a built-in loyalty program that provides focused promotions primarily based on buyer buy historical past, enable prospects to tie rewards on to their bank card, and allow automated texts, emails, and coupons.

4. Stock Administration and Reporting is Important

Search for a pizza restaurant pos system that permits you to accurately track inventory and enhance portioning effectivity to scale back your prices over time. Having the ability to see objects that drag down income permits you to take away them. Complete reporting that permits you to sift information to see what’s promoting, what isn’t, and the place your margins are highest is invaluable to higher perceive your online business.

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5. Payroll and Worker Administration

A great pizza supply POS system will provide detailed reporting on employees hours and their productiveness. This lets you pinpoint when so as to add employees or reduce, which supply drivers and FOH employees are quickest, and which employees may have extra coaching—or disciplining.

Three advantages of a devoted pizza POS system

To outsiders, pizza outlets – particularly these basic ones that promote by the slice – appear to be the best meals institutions to run. Make just a few pies, seize prospects just a few slices and a Coke, accumulate money, and so on. However those that know notice these seemingly easy eating places have a few of the most complicated wants – wants that may be dealt with with a pizza POS system.

1. Supply, supply, supply

It doesn’t matter what these frozen pizza commercials need to say, there’s nothing higher than getting a scorching pizza delivered to your door in beneath 30-minutes. Quick service and high quality meals was one of many largest, most worthwhile worth propositions for pizza chains years in the past, however smaller operations had a whole lot of bother competing.

Now, with an easy-to-use, iPad-based pizza POS system, even the smallest outlets can provide customers the identical supply effectivity as the massive chains, due to automated supply updates for purchasers, GPS and buyer data for drivers, and strategies to replace orders as “full,” in actual time, so there’s no fussing with receipts and such later.

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With an easy-to-use, iPad-based pizza POS system, even the smallest outlets can provide customers the identical supply effectivity as the massive chains.

In different phrases, no extra confusion about home numbers, poorly written and incorrect orders, or supply time discrepancies. It’s all automated, and it’s all correct, 100% of the time.

Talking of which…

2. Order accuracy

These handwritten order slips are finest left prior to now. As a result of let’s face it, a poorly written be aware of “no anchovies” can shortly lead to a fishy pizza and upset prospects very quickly. Pizza POS software program permits outlets to shortly add, take away and modify any order request to match buyer requests, in clearly outlined, unambiguous instructions which can be printed proper on a ticket.

Even when a buyer calls again thrice, an present order could be up to date in actual time, so there’s much less threat of losing meals or having to ship to the identical home a number of instances. A number of hits of the display screen can velocity issues up and transfer issues alongside, with no confusion.

3. Loyalty packages and buyer administration

Fast service eating places like pizza outlets stand to profit most from loyalty packages and rewards techniques, since visitors normally are likely to frequent the identical spots, due to belief that you simply’ll provide a top quality meal. Maybe it’s a free pizza after each fifth buy or bonus objects for normal giant orders, however including slightly goodwill can go a great distance towards constructing lifelong prospects and model ambassadors.

Up to now, these rewards had been normally coupons on the fronts of pizza containers. Now, due to an always-connected pizza POS, you may simply observe and monitor which visitors are spending essentially the most, and which of them have earned rewards, on the push of a button. No extra oily field coupons, simply easy information, and data monitoring.

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The Way to Select the Ideal EPOS System: Tips and Solutions

“The best investment is in the tools of one’s own trade.” — Benjamin Franklin

Tools are made to boost our job performance. The ideal tools for tracking and managing your earnings are going to help you in conducting your business better. So don’t underestimate the significance of selecting the most appropriate EPOS system.

There is a huge array of EPOS systems available on the marketplace. They give a great deal more than simply payment processing. Their functions can vary from revenue reports and accounting to stock and personnel administration. They’re also able to create loyalty programs to your clients and enable one to scale the upcoming activity of your company.

Picking out the EPOS system which will match your company perfectly can be hard. It’s a core instrument for your business, so consider your choices carefully prior to making an investment.

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EPOS System — Performance and Function

EPOS, or an electronic point of sale system, is made up of hardware (the equipment) and software (chip ). It helps your organization to handle sales better.

The hardware generally contains a central computer terminal and other devices attached to it with a cable or wirelessly.

The program can be customized based upon the specifications of the business. It may be installed on your terminal, or it may be cloud-based. This will let you keep an eye on your earnings across several places.

The EPOS systems are intended to assist you handle all the various areas of your company concurrently. Including stock management, pricing of things, order procedures, and supply.

Besides the basic and standard functions, the program may be tailored for your specific needs.

EPOS Equipment and Software

Normal devices include:

  • A central computer terminal
  • recorder scanners
  • receipt printers
  • Chip and Pin devices (PDQ machines)
  • a money drawer

There can be a few extra gear especially tailored to your business requirements. Remember though, not all software works with each bit of gear. Prior to purchasing your hardware, guarantee that the program will operate on your own apparatus.

Some Normal applications features incorporated into an EPOS may include the following:

  • Buy and purchase processing
  • sales monitoring
  • accounting
  • e-commerce integration
  • stock availability management
  • promotions, discounts, and dedication applications
  • customer relationship management (CRM)
  • custom orders direction
  • managing and creating staff program
  • handling reservations (for restaurants and other providers )

According to your business specifications, there are also some additional capabilities. As an instance in the hospitality industry, there is a purpose for table support. This role will take care of handling numerous orders, providing the employees more time for serving the consumers. Kitchen printers could be set up, displaying the orders coming in the waiters.

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If your company is a clothing store, you may start looking for software which includes a purpose to organize things by size and colour.

A mobile company, like a market stall, will need the offline manner. The data received while offline will be saved until you connect to the web again.

The Advantages of EPOS

There are a number of advantages of utilizing a complex EPOS system. It provides you clear presence of the operations of your small business. It is a means of speeding and firming up the procedures.

The only downside may be the price. The performance of this system that you buy will depend on your finances, but the numerous benefits will probably outweigh the additional cost.

Automation raises productivity. You can have team focus more on serving the client, rather than attempting to handle the technicalities of the project itself.

The inventory management attribute can help your company with the observation of inventory supplies. It is possible to avoid running out of inventory or using an excessive, and predict future inventory provides.

The earnings reports give accurate information concerning the purchases made daily and remove the chance of human error. It is possible to see exactly what your clients are purchasing the maximum, at what place and even who your team has the greatest sales.

The loyalty applications can be tailored into the behaviour of your regular clients. The system also lets you make customized advertising campaigns.

In the restaurant and hospitality industry, you may observe the room occupancy at a hotel, or even if your restaurant is operating from their everyday specials.

The system also can help you to keep your eye on your profit margins. It makes the fiscal information more transparent, easier to get, and procedure.

The consumers are served quicker as the payment procedure is streamlined. EPOS systems incorporate directly with card terminals.

Another valuable feature is your e-commerce platform synchronization. Your online buyers will probably be up to date concerning inventory and price immediately.

The Ideal EPOS System to Your Industry

Though the cost of this system may be a problem for many small business owners, the total improvement of surgeries justifies the investment. But prior to assessing the price variants, consider these points.

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1. Your company has special needs

As we’ve observed, the wide variety of purposes corresponds with the broad assortment of specifications. So begin by thinking of exactly what your company requirements. Each business and each individual company in precisely the exact same sector is exceptional.

Consider that section requires the most attention and which procedures need improvement. You could have already created your method of finishing accounting, inventory checks, revenue forecasting, and personnel administration. But attaining it economically with a centered system can allow you to save a little excess time and avoid making incorrect conclusions. This then can help save you unnecessary costs.

Assess your business needs from the following regions:

  • Online ordering for in-house pickup
  • Delivery alternatives and monitoring
  • Integrated e-commerce and/or email purchase
  • Age Verification or ID prompt
  • Mobile POS
  • Integrated appointment or course calendars
  • Promotions & dedication applications
  • Performance reporting capacities
  • Third-party software integrations
  • Different reports
  • the company dimensions and the scope and diversity of this inventory
  • Hardware tastes

2. Transactions operations

Contemplate how transactions will be processed. Are you going to require a barcode reader or a touchscreen? Based upon the EPOS supplier, you could have the ability to select your payment processor. In other events, you are going to need to incorporate with the payment processor that’s partnered with your EPOS supplier.

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3. Stock levels tracking

It might be a challenge to always take the ideal quantity of inventory. Can you appreciate automatic reminders when you are running low on goods?

The EPOS system supplies not only tracking of inventory, but also forecasting your prospective earnings. It can enable you to constantly be prepared for the demand. Your clients will also appreciate the efficacy of your inventory control.

4. Client personalization

According to a poll completed by Infosys, 59 percent of clients think that personalization has a noticeable effect on buying. 31 percent of surveyed customers wish their buying experience was personalized.

Are you interested in finding ways to enhance your customers’ experience? Your system must provide tools to upsell, see purchase history, and make customized loyalty applications.

You can synchronize all of your sales channels to offer you exactly the very same promotions, or you are able to keep them exceptional. Tailoring several kinds of loyalty notions into your instore along with your online store can be a struggle with no centralized monitoring system set up.

5. Simple to Use

Buying a system which isn’t simple can be counterproductive. Your employees should not be losing time seeking to run complicated applications.

The interface ought to be appealing and intuitive. It might be a fantastic idea to settle on a chip. Then start looking for the gear which will be most suitable with it.

6. The future of your Company

Discovering the proper EPOS system for the company ought to be a long-lasting investment. You do not wish to consider replacing it in a couple of years so examine the future of your organization.

How can your business’ needs change in time? What will your clients need? Are you going to have to incorporate new revenue channels? Are you currently planning to broaden your offer? Be certain that the system will encourage all future alterations.

7. Mobile POS

With a smartphone or tablet computer to carry out the POS services is becoming popular with retailers in trade shows or in places with restricted floor space.

This attribute could supply a brand new customer encounter and avoid long lines at the cashier. There is also mobile apparatus ordering and brand new methods of merchandise screens. These possible new avenues of support have to be harmonious with all the EPOS you are considering to purchase.

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8. Data safety

The prevention of unauthorized access to a EPOS system is a top priority for the organization and your clients. The theft of customers’ private information, such as credit card info is of amazing concern. So ensure you have a robust data security system.

9. Cloud backup

The EPOS software may be set up either on your own terminal, or it may be cloud-based. The benefit of owning a cloud-based chip is real time reporting and the capability to get the information from any place. This can save a great deal of time, particularly in the event that you’ve got several shops. The information in the cloud is encrypted and secure.

10. Setup

Nearly all retailers prepare the system , without the aid of a specialist. Based upon how big your enterprise and your finances, you might or might not choose to employ an installer.

11. Added software integration

To appeal to the constantly evolving demands of your customers and your business, you will want to purchase a system which will encourage additional applications in the foreseeable future.

These new tools can also be known as third party integrations (or applications). They expand the core functionality of your present system. Prior to purchasing your EPOS, be certain that you are able to expand its performance later on.

12. Data backups

The excellent thing about an EPOS system is storage. You do not need to worry about losing some critical documents, what’s stored in the system.

However, just like each software, be certain that you backup your data on a regular basis. This is essential if an error occurs in the system. You might need to restore all of the information stored in the most recent backup.

12. Leasing or purchasing

If you are thinking concerning the cost of getting the system, you might be thinking about if it is possible to lease. In the end, not every company is in the position to produce an outright buy and you might be fighting to choose a system.

Some EPOS suppliers give the choice of leasing the system. But, you might wind up paying more at the conclusion. The contracts can limit you for a protracted time period. So consider your possibilities attentively.

A fantastic excellent EPOS system can reduce the costs made by your company. It is intended to boost cash flow and stop the reduction of earnings. It may improve marketing strategies and encourage customer loyalty. In the long run, you won’t regret your first investment into a effective EPOS system.

If you are attempting to adhere to a very low budget, you could be tempted to get a cheap and easy system. But it might not be flexible , and it will not have the ability to grow with your business. You’ll need to alter it later on and you are going to wind up spending longer term.

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EPOS systems to Select out of

Pack4it

Pack4it brings together offline and online shops, warehouses, and vendor lists in 1 place. It consistently presents up-to-date earnings and inventory details. And there isn’t any more need to modify amounts by hand or change between various applications.

This POS solution manages retail and online sales dictates . Any sort of sale is managed in the exact same, transparent manner. It isn’t important whether it’s a market sale, wholesale bargain, or purchase by telephone. At any moment, a supervisor has the choice to convert the purchase to drop-ship, or forwards it to other vendors to have estimates.

A significant facet of a successful company is to keep good relations with customers. Keeping tabs on how clients store is significant information for enhancing customer experience. Pack4it includes a characteristic that handles customer-related notes, tasks, and background.

The integration of the various modules has important advantages for the consumer. It’s unique because it combines POS, CRM, and stock modules into a single tool. Information that’s available to supervisors or personnel is factual and current. Authentic planning and demand forecasting become viable. So clients are not disappointed with supply chain inefficiencies.

The program is simple to install and use. Pack4it user may anticipate outstanding support from the programmers. Both endings stay connected for specialized assistance and expeditious implementations of necessary customizations.

Firms that are looking to enlarge, may return due to the big investments in infrastructure that are included. Pack4it is the best instrument because it enables companies to scale a company without substantial added costs.

Vend

This EPOS operates offline. It provides features like Quick Staff Training, practice receipts, returns, refunds, and shop charge.

It satisfies smaller to midsize retailers and its own platform is user friendly. It may be connected with your e-commerce site, supplying multi-channel stock, merchandise import and direction, and real time coverage. It supplies a cloud-based system along with also a fantastic mobile revenue function. 1 drawback is that it merely uses third-party payment chips.

Vend’s customer support provides 24/7 support through email and chat.

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Shopify

This EPOS permits you to market in person, online, and on social networking. It’s built-in attributes for assessing and creating digital marketing and advertising campaigns. It delivers a single dash for handling the orders, shipping, and payments, so it’s simple to use. The merchants will appreciate their inventory management tools. It has been rated as easy to implement and flexible.

But this system will not function for the hospitality market. You will also have to purchase extra hardware.

Epos Today

This system will fit little to midsize retail businesses. The purposes contain stock management, accounting, client management, and much more. It is cloud-based.

Epos Now provides both hardware and applications. One of the components are card scanners, barcode scanners, age verification, a team clock, along with other capabilities.

Magestore

The qualities of the EPOS include stock management, layaway management, shop management, and a loyalty program.

It is available as a web app and native iPad app and may work with several different POS hardware peripherals.

Additionally, it functions in offline mode.

MicroBiz

This system is excellent for retail. It has some special features for bicycle shops, clothes companies, and game distribution outlets. It’s user friendly and has received high ratings among consumers.

Another benefit is it’s partnered with different payment processors.

TouchBistro

This is a favourite system for companies in the hospitality market. It features menu direction, floor plan direction, tableside ordering, and inventory administration.

It’s simple to navigate and fast for both pub and restaurant support.

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pointOne

This hospitality business EPOS features inventory management, integrated kitchen direction displays, table-side ordering, online ordering, equally devotion, and promotion management, menu management, plus even more.

It is suggested for restaurants, clubs, pop-ups, and market stalls.

Nobly

Nobly EPOS is a iPad system for little to midsize companies in the restaurant industry. It’s been reviewed as a simple platform that’s fast to establish. Minimum training is obligatory for tech-savvy staff.

It integrates with many different reliable payment procedures. Among a number of other features, it gives gift cards, inventory management, personnel and revenue reports, table support, ingredient monitoring, and loyalty strategies.

Nobly’s customer support has received high ratings because of their service system.

Lightspeed

This cloud-based EPOS platform for retail provides stock management, order order management, accounting, cash drawer management, along with other tools.

It offers a totally integrated e-commerce platform. The EPOS is simple to use with a blank interface. Their customer support has also been commended.

Ebizmarts

This really is a mobile POS App which lets you market Magento products in your retail shops.

It supplies multi-warehouse support, client information management, personnel management, and immediate inventory upgrades. It sports an on-hold purchase purpose. It’s a layaway choice and it is famous for its Kiosk style. It supports multiple payment methods.

End ideas on buying an EPOS system

A strong EPOS system is an integral instrument for your enterprise. Why is it useful is that the synchronization of all of the procedures which are so crucial for your enterprise. It is 1 platform which permits you to handle a broad array of information, using this data from anywhere.

It’s a system which will be appreciated by both the customers and management alike. It’ll make running your business more efficient and more cost-effective. In terms of your clients, they’ll experience far better customer support, inspiring them to remain faithful to your enterprise.

As soon as you’ve opted to purchase a brand new EPOS system, take your time and consider your particular requirements . Then research the potential of your company and foresee the possible growth and development of your business and business. Put yourself into the shoes of your prospective customers.

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Whenever you’ve examined both your present and future needs, pick the ideal software. After that, get an EPOS hardware that’s quite harmonious with it.

5 Retail Tips to Boost Your Christmas Sales

It no doubt feels just like the Christmas sales season is right around the corner. There is a lot to get organised, from stocking up your stock to ensuring your employees and systems are well prepared. Take a look at our tips for ensuring you are on the ball once the crowds — and their wallets — hit the shops.

Integrate your in-store and online stock

Inventory control integration is an absolute must if you are selling in both the physical and online worlds. Thus, if you sell stock from your Bondi location, your online stock availability will also reflect this decrease in stock. This not only helps to stop over-stocks and under-stocks but in addition, it ensures you avoid the danger of an angry or disappointed customer in case that you can’t really fulfil the order.

Ensure employees are adequately trained

Last-minute gift grabs in December provide the chance to upsell, cross-sell and provide alternative products. If the client has already decided to come into your shop and take time to settle on a product, an easy offer to upsell or cross-sell could significantly increase margins on each sale.

Often retailers spend a good deal of time organising and training new employees on possible upsell and cross-sell opportunities across their many shops, especially during Christmas when casual employees are hired. Ensuring that you have a POS system in place that helps to create these recommendations immediately and will help provide the tools your employees should do during the hectic Christmas period.

Master your present lay-bys

Tons of folks like to set aside presents months beforehand, and if you do not have a decent lay-by system set up you’ll find it a nightmare to set up and handle those details manually. Ensure that your marketing reflects your capacity to accept lay-bys both in-store, online and through your email communications. Provide suggested lay-by alternatives for different segments of your market and you may even break down the procedure for them so that they know they just need to commit $5 per week and these pair of shoes will be prepared and wrapped prior to Christmas.

Get your targeted messaging on stage

Don’t miss your opportunity for highly effective and tailored Christmas advertising this year. Your POS solution ought to be installed to capture customer buys, send out personalised email campaigns, monitor results and link customers directly to your internet store. When you haven’t already, segment your client database and get cracking on targeted email and social marketing campaigns. For those who have a loyalty program in place or intend to implement one, you may even send out discount coupons and bonus points to observe the return of consumers who’ve purchased particular products or invested certain quantities.

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Get your gift cards in order

Gift cards are incredibly popular around Christmas, because everybody knows someone that has everything! Spend some time perfecting your branding for gift cards and that is going to find a excellent answer under the Christmas tree. And ensure that your in-store systems can easily allow the customer experience you’ve planned out so that you can concentrate on getting the most from the hectic season for you and your company.

So do you have your plans in place for the Christmas rush? And how well will your company systems enable these plans? If you want to hear how other Australian retailers are preparing to raise the bar this joyous season, get in touch with us now.

 

Sources
  1. pricing-options-for-different-pos-systems/
  2. offline-mode-in-pos-does-it-matter-to-your-business/
  3. 5-pos-systems-support-offline-mode/

Retail Gift Card Point of Sale Tips for This Holiday Season

The holidays are starting early in 2020. This season, more shoppers than ever are expected to buy gift cards for family and friends, and retailers are taking every advantage they can find to ensure successful vacation campaigns, such as Black Fridays in October. Big names like Amazon and Walmart have announced plans for significant discounts on multiple dates throughout the holiday shopping season.

Gift cards continue to gain in popularity among consumers and merchants. A report issued by Trade and Research forecasts that the U.S. gift card marketplace will realize a compound annual growth rate (CAGR) of 9.2 percent between 2020 and 2024. This expansion builds on the CAGR of 11.7 percent listed by gift cards between 2015 and 2019. Overall value of U.S. gift card sales is predicted to reach $221 billion annually by 2024, according to the report.

As people adapt their vacation plans to adapt public-safety limitations, gift cards offer a secure and convenient way for shoppers to check off all of the names in their lists. Retail gift card point of sale supplies a range of benefits for customers and shop owners alike.

Sources

https://www.connectpos.com/connectpos-officially-released-on-bigcommerce-app-store/

https://www.connectpos.com/top-10-brands-that-are-leading-the-trend-using-omnichannel/

https://www.connectpos.com/what-are-consumer-apps/

How Gift Cards Benefit Retailers

Financial services company FIS Global lists seven ways that retailers gain by providing their clients gift cards:

  1. Build brand recognition.
  2. Increase the shop’s holiday sales.
  3. Engage customers (those purchasing the cards and people receiving them).
  4. Collect valuable customer information.
  5. Make providing safe and suitable for clients and retail employees alike.
  6. Easy supply without taking up much screen space.
  7. Generate revenue for the shop before it really provides any service or product.

Gift cards create more revenue for retailers than their face value; a survey by First Data decided that consumers spend an average of $59 greater than the initial value of the gift cards they get . For supermarket gift cards, the average increased spending is 94 percent.

The cards also serve to extend the holiday season for retailers, permitting them to increase foot traffic in their stores well into the new year. The Hustle reports that clients are 2.5 times more likely to pay full price for things when they use gift cards to buy them.

How Retailers Can Maximize the Benefits of Gift Cards

The gift cards offered by retailers are known as “closed-loop” cards since they can only be bought and used at that organization. By comparison, open-loop gift cards, such as those offered to vendors by Visa or MasterCard, can be used at multiple locations.

Two gift card options are most popular among retailers:

  • Online e-gift cards may be used to buy items in the shop or site or app; the POS system treats it the same as any other transaction.
  • Physical cards feature a magnetic strip or barcode and are accessible from the merchant’s POS supplier, a merchant bank, or a third party vendor.

For Instance, ConnectPOS supports three types of cards:

  • Fanfare for Elavon clients from the U.S.
  • Synergy for non-Elavon clients from the U.S.
  • ConnectPOS for non-Elavon clients from the U.S. and EU/UK

Instructions for printing and ordering physical ConnectPOS gift cards explain the steps of this procedure, including how to bring the corporation’s brand or customize the cards. ConnectPOS gift cards are also accepted for online orders. Customers have the ability to reuse gift cards, and gift cards can be used with loyalty cards to make a stronger bond with the client.

Strategies for Marketing and Tracking Gift Cards

Among the first steps when implementing gift cards to get a retail company is establishing gift card policies and ensuring employees know and abide by the policies. Store clerks will need to learn how the gift cards operate and any limitations which could be put on them, like a cap on the amount of cards which can be bought at the same time, rather than allowing gift cards to be used to purchase other gift cards. Federal rules limit gift card fees and expiration dates and countries place their own regulations on gift card fees, expiration dates, and redemption of unused parts of the card balance.

Reference

1.how-to-use-magento-pos-omnichannel-retail/

2.best-magento-pos-system-2020/

3.7-factors-third-party-logistics-provider-3pl/

Software Advice highlights three ways retailers can market their gift cards:

  • Screen gift cards where clients are most likely to look at them, like checkouts and kiosks. In places that are not acceptable for showing the cards , add signals that remind clients of the availability of the shop’s gift cards. The promotions must extend to all marketing channels, such as online and traditional media.
  • Give clients a reward for buying a gift card, like getting a free gift card when buying one of a specific price. An instance is a spa that provides clients a $20 voucher for each $100 gift card that they buy.
  • Produce specialty gift cards for special events, and there is no event more special than the holidays. This holiday season particularly will benefit from all avenues available for dispersing our fantasies of joy and peace.

Offering custom gift cards is just one of the ways retailers can offer their customers options which produce their shopping experience more pleasurable. The cards serve as ambassadors to your shop’s brand, and they provide benefits beyond their face value. Retail stores will need to take advantage of all of the avenues available for generating revenue, and gift cards promise to be an increasing source of the revenue, this holiday season and beyond.

A point of sale partner like ConnectPOS can help you implement retail gift cards for the holidays this year. We work with you to apply an advanced POS solution that levels the playing area. Reach out to us now to find out more about how ConnectPOS can function as valued POS partner.

Got a Seasonal Business? Try These 9 Tips to Stay Profitable and Productive All Year

Every seasonal company — whether it is a haunted house attraction available on Halloween or a summer souvenir store on the shore — dreads the off-peak season. Engagement levels fall, sales reduction (and sometimes stop entirely ), and the shop begins to resemble a ghost town.

But just because business is slow does not mean you must slow down with it. Here are some ideas to make the off-season months work for you:

1. Find ways to earn revenue annually round

Your sales don’t need to grind to a complete halt during the off-season. Regardless of what sort of seasonal business you have, there is an excellent probability that it is still possible to earn some revenue even if it is not your busiest time of the year.

Diversify your company offerings and see whether you’re able to sell related or complementary services and products. Determine the different requirements of your customers and find ways to meet them when your principal business is not in season.

Take a look at what H&R Block is performing. Along with seasonal tax preparation, in addition, it offers a lot of financial services such as credit lines and payroll processing. This allows it provide value and make revenue even through off-peak months.

Want another example? Check out Halloween Club, a “costume superstore” in Southern California. While the retailer’s most important business is Halloween costumes, it recently introduced a huge range of party supplies to appeal to mothers and event planners that are holding themed parties or functions.

There is also Tipsy Elves, a holiday-themed apparel firm. Tipsy Elves started out selling ugly Christmas sweaters, but soon expanded to other vacations. Now, the merchant sells fashions for St. Patrick’s Day, Valentine’s Day, Thanksgiving, Hanukkah, and much more.

2. Cater to clients in other places (where your products are in season)

Remember that just because your company isn’t in season in 1 location doesn’t indicate that there is not a demand elsewhere.

Case in point: Big Feet Pajama Co., a Website that sells hot and snuggly PJs. The organization typically experiences a decrease in US sales during the spring and summer months, but it doesn’t stop the business from thriving.

Entrepreneur.com noted that Big Feet makes up for the dip in US earnings from March through August by targeting countries like Australia and New Zealand, where autumn and winter are in full swing.

According to Entrepreneur, Big Feet Pajama Co. capitalized on the opportunity by launching a targeted Australian AdWords campaign and by investing in a supply facility down under to decrease shipping costs.

See if you can apply a similar approach to your organization. Are your services or products in demand in other areas of the world? Make certain to go after those opportunities.

3. Build your community and establish thought leadership

Social networking gives you plenty of opportunities to connect with people throughout the year, so keep your site and social accounts active.

Keep publishing blog posts and posting updates on all the stations your clients follow. Use your downtime to think of fantastic content which can educate your clients. Doing this lets you construct power, strengthens your community, and ensures that individuals will remember you when it comes time to do business again in the on-season.

Have a leaf off H&R Block’s playbook. The tax preparation company makes most of its earnings during tax season, but it publishes educational website posts, videos, and guides throughout the year. And tax season or not, its social networking pages stay active and continue to grow its fan base regardless of what period of the year it is.

This retains H&R Block top of mind for most consumers so that it’s normally the go-to business for people once the tax months come together.

4. Serve other niches

Your company may be”seasonal” to the vast majority of customers, but certain niches might have a need for your goods throughout the year.

By way of instance, if you sell fireworks, then your busiest period would probably be the weeks around Memorial Day or the 4th of July. But it might be worth finding customers who want fireworks beyond those vital holidays. Maybe you can associate with an events organizer or a place which makes use of your goods.

Another idea is to check into corporate earnings or custom solutions. Tipsy Elves implemented this strategy by simply selling custom promotional apparel. The company teams up with brands and helps them develop custom layouts.

5. Find ways to save money

If the business is truly slow throughout the off-season, take action to lower your spending. Here are some areas to look into:

Staffing — If foot traffic and shop activity are on the quiet side, think about lowering your staffing requirements. Maybe it’s possible to cut back on changes or encourage staff members to take some time off.

Hours of operation — Generate sales reports per hour to find out your least profitable occasions. By way of example, you might realize that while you are open from 8am to 8pm, you are not generating enough sales from 7 to 8pm to be rewarding.

With that advice in mind, you can decide whether it is worthwhile for one to stay open that late.

Vendors/solution suppliers — Look in the company services and subscriptions that you have and see if you can downgrade to a lower plan for now. Also, see if your vendors permit you to place your account temporarily on hold.

As an example, Vend lets retailers place their accounts”on ice” — a service which enables users to retain their information and account information when they are not actively using the program.

Space — Subletting your place could help lower among your main expenses — rent. Check with your landlord to determine if you’re permitted to lease your space. If you have the green light, run a search for other stores who would be amenable to moving into your place.

1 retailer that did so well is Metropolis, a gift-and-card store in Seattle. In 2009, the merchant was hit by the downturn and this prodded owner Terry Heiman to rent out the space.

After getting approval from his landlord, Heiman began subleasing a third of his shop to other merchants.

Based on Entrepreneur.com,”Heiman spent $1,000 to set up a loft-style wall between the distances, and every shop has its own entry, speech, and separate utility metering, which makes for effortless division of expenses. He collects the rent and writes one check to the landlord monthly.”

Think about doing something similar in your enterprise. If your rental agreement permits it, locate retailers who would be prepared to move in so that you may share location expenses.

6. Reach out to the media

Publications usually plan their posts months beforehand, so in case you would like to land a magazine feature just in time for your business’s peak season, you will need to reach out to reporters early on.

Make the most of the slow months to gather intel on applicable reporters and books. Get your hands on their editorial calendars so you will know just when to send your pitch.

Subscribe to services like HARO (Assist a Reporter Out) and be on the lookout for individuals doing stories on your industry.

7. Attend educational and networking events

Use the slow months to broaden your expertise and network. Attend events that provide networking and learning opportunities so that you can get to know people and trends in your business.

Conferences, trade shows, as well as local business events can help you gain new ventures and abilities which you can use in your company, so don’t miss the opportunity to attend them.

8. Get shopper feedback and testimonials

The off-season might be the ideal time to receive feedback and testimonials from your clients. Look at getting in touch with people who bought from you and ask them what they thought of your merchandise.

If you buy a good deal of amazing feedback, encourage clients to leave a review on Yelp or Google. Got some not-so-great testimonials? Use that feedback to improve next year.

And that brings us to our next tip…

9. Evaluate your business’ performance and plan for next year

Evaluate the performance of your business last season. What went right? Concretize the motives behind your successes to establish which strategies should be continued.

Do the same exercise on the things that could’ve gone better. Were there situations that could have been handled differently? Again, nail down the reasons why. Take notes, so you will know what to avoid when business begins to pick up.

Some of the items you can look to include:

Inventory — Which items were flying off the shelves? Which ones were snubbed by clients? If you introduce new products? Itemize, assess, and stock up accordingly.

Staffing — Can you have enough hands on deck to manage customers during the busy months? Did any of your staff members glow or underperform? Take note so you know who to employ next time around.

Providers — How much did you spend on services and supplies? Could you have gotten a much better deal elsewhere? Use the off-season to perform research on vendors, so that you can switch or re-negotiate improved contracts for next year.

Care — Is your shop still in great shape? Are there any renovation or maintenance problems that you will need the address? Take care of them if your company isn’t too active.

Bottom line

Your company might be seasonal, but your commitment to it should not be. Put these tips into action and discover ways to thrive throughout the year.

Reference resource

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  3. drive-customers-physical-store