According to Global Market Insights, the 2015 mobile point-of-sale (mPOS) terminals market in the United States was valued at more than $11.5 billion. With wireless communication technologies becoming more affordable, forecasts predict strong industry demand. It's a demand that seems to be spreading across many verticals.
For example, the retail and hospitality industries are focusing on mPOS as a vehicle to improve the customer experience. Quicker, more convenient payment processes make consumers smile and turn them into regulars.
Organizations in the healthcare sector need more mobility for patient care and administrative functions. That means better inventory tracking, easier access to vital patient data, and faster and more accurate billing from multiple sources.
Success with mPOS means different things to clients in different verticals. As you polish your sales pitch, you'll want to take into account different business goals, varying customer demographics, and even diverse company cultures. Here are two overarching strategies that will put you in the driver's seat.
Ask questions first
When you're talking with clients across a variety of vertical markets, it can be hard to know the ins and outs of every business. Fortunately, you don't have to know it all.
Because your customers have expert knowledge about their individual industry, your job is to unlock the information. One of the best ways to do this is by asking plenty of questions.
When you take the time to identify current problems, payment and service bottlenecks, and gaps in needed business data, you'll have a much easier time recommending the right mPOS solution.
Here are some questions to get you started:
- What do you want your POS system to do that it can't do now?
- How do you expect mPOS to improve your customer interactions?
- Have you had an excessive number of fraudulent transactions?
- Are your customers asking for different payment options, like mobile wallets?
- What are the top three problems your employees face when using the POS system?
- Does your business encounter heavy peak traffic at specific times during the day or night?
- Are customers abandoning purchases because it takes too long to pay?
Take regular field trips
Do you know what a typical customer interaction looks like for your client? You should.
Selecting the best-fitting mPOS solution can be different for a quick-serve restaurant, a fine-dining establishment, or a mobile food truck. Your retail customers may be looking for speedier checkout capabilities or more consumer-focused nurturing. But you'll never know until you see for yourself.
You may not always have the time to visit every client business location, but you should spend time in similar settings. Observing POS limitations and seeing where employees struggle during payment transactions give you a better understanding of real client problems.
When you can see for yourself the challenges your clients are facing every day, the solutions you recommend are likely to be much more targeted and effective.
Creating a more personalized sales strategy will take a little more effort, but will lock down more clients in the long run.
How do you personalize your mPOS sales pitch for different verticals?