In my conversations with POS (point of sale) dealers, I often hear about struggles to increase revenue. I’ve noticed that many of these people aren’t doing everything they could to change their situation. I’m not going to pretend that what follows is easy or that you won’t be forced to dedicate hard work and time to get the boost to revenue you’re hoping for. Or, that this list is complete. You might already be doing some or all of the following. However, I’m confident that if you aren’t, or haven’t given the following ideas the proper attention, you’re missing some huge opportunities.
Digital Signage — While definitely not a new technology set, recent advances in technology and drops in price have pushed digital signage into the spotlight this year. Pick up your March 2012 issue of BSM and read how one POS VAR, CompUtopia, increased its revenue by 10% in its first year of offering digital signage. And if you haven’t seen it yet, just for fun, check out this 30 second video of a digital signage solution that will knock your socks off.
Payment Processing — I’m not going to waste a lot of words here on this one. It’s a natural add-on service you can provide, which can give you a stable monthly revenue stream. If you’re afraid of the numbers game or not sure how to pitch this to your customers, many of the processing companies operating in the POS channel are more than happy to help train you or even market to your customers on your behalf.
IP Cameras — Today’s IP cameras are coming way down in price and some have storage, DVR, and analytics built on board, further reducing the cost to your customers. Get out of the mindset that cameras are only good for surveillance and learn all the different ways they can be implemented to solve your customers’ problems. Also, get it out of your head that these cameras are difficult to install. It’s easy. Check out “Install An IP Video Camera In 6 Minutes. Here’s How” if you don’t believe me. Our upcoming June issue of BSM features a POS VAR who not only sustained his business during the down economy, but grew it via the add-on sales of IP video cameras and DVRs.
Mobility — Whether you like it or not, iPads are stuck in the heads of many retailers and restaurateurs. Don’t shy away from this potential revenue opportunity. As one VAR commented on my blog “Are You Tired Of Your Customers Asking About iPads?,” it’s a great starting point for a conversation with your customer. At the heart of your customer’s request is a problem you can solve (and money you can make).
Loyalty/Mobile Marketing Apps — Another great recurring revenue opportunity that can help your customers increase sales and pad your paycheck. There are a ton of new solutions that came to market over the past 18 months, so finding something that works with the POS software you already sell shouldn’t be an issue.
If you’re interested in learning more about any or all of these topics, you can get a crash course at the upcoming RetailNOW show in July. The agenda for the event includes many of the above topics. Additionally, there are manufacturers in all of the above categories that will be exhibiting at the show. Finally, and most importantly, your peers will be at the event. Some of whom are already having success selling these technologies. It’s a great opportunity to speak with other POS VARs and learn what’s working for them.
Before you complain that it costs too much to attend a show, I’ve got two (2) FREE registrations (waiving the $595 non-member registration fee) for RetailNOW that I can hand out to two non-RSPA member resellers who have not attended a previous RetailNOW. First come, first serve. Email me at mikem at bsminfo.com to claim yours and/or get more detail.
EDIT: I might be able to get more passes. If you’re interested, let me know.