5 Ways Businesses are Benefiting from Self-Service Solutions

Self-service technology has become so common that most consumers no longer think of it as something new. From ATMs to supermarkets, hardware stores to retail stores, self-service solutions have become convenient to consumers. How about businesses?

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For retail businesses that are looking to expand, self-service solutions offer benefits that help in the growth of a successful business. The use of self-service kiosks in the retail sector is steadily gaining more popularity as competing companies adapt to new strategies to increase revenue.

Here are 5 ways businesses are benefiting from self-service solutions.  

Efficient and Cost-Effective Service

While the initial cost of rolling out self-service kiosks may seem high, implementation is efficient and cost-effective. Retail businesses that are moving to self-service technology are able to get fully integrated solutions that suit their specific needs and make their operations easier.

According to Meridian Kiosks, a provider of fully-integrated kiosks and self-service kiosk software, many retailers are opting for self-service kiosks and checkout solutions so as to provide better and efficient service at a lower cost.  

Automated Customer Service Experience

Every customer enjoys having a convenient, hassle-free shopping experience. This gains even more relevance as advances in interactive self-service functions become part of the solution. Self-service kiosks offer automated customer service experience.

With the customer in control and kiosks containing integrated, advanced software, your business is able to offer a smoother and more effective interface and a better service experience. This leads to increased customer loyalty.

Valuable Customer Data

Self-service solutions like kiosks not only offer a straightforward checkout option for your customers but also provide a great opportunity for you to collect valuable customer data. This can be in the form of transaction statistics that provide a clear picture of customer purchase history or short surveys upon checkout.

The findings of a recent study published on TimeTrade, regarding customer experiences with retailers, reveal that there are plenty of opportunities for retailers to use customer data to improve the overall shopping experience. This data can be used to create a more effective marketing plan and better forecast sales by offering incentives and offers for particular products.

Additional Advertising Opportunity

What business doesn’t appreciate additional opportunities to market their brand? With self-service solutions, you can personalize your brand to fit what suits customers best. You already know what customers are buying, so you can simply showcase your brand strategically.

Self-Service Solutions

Place your logos on your indoor and outdoor kiosk units or play short ads on the overhead screen when the kiosk is not in use. Use the more interactive self-service solutions to update customers on new products, merchandise offers, prices and even general business information.

Increased Return on Investment (ROI)

Self-service solutions are one among many options that retailers are considering to reduce labor costs and overheads. Running manned stations is costly. A single or even a small chain of self-service kiosks can make a huge difference in your business revenues.

With options like dual access points, self-service checkout, mobile app technology, remote management, bill payment and others, retail business owners are able to see increased Return on Investments (ROI) with smart self-service solutions.

The Way To Go

While every business is supposed to meet the expectations of all their customers, maintaining a profitable business is key to business owners. According to an MHI Global report, 64% of millennials prefer self-service. This means that the market is embracing self-service.

Self-service technology will play a huge role in achieving business growth and efficiency in the coming years. As a business owner, exploring and implementing the options available will benefit you in one way or another.