Every salon manager aspires to take their business to a level, where they never have to worry about either revenue or cash flow. Although, in reality, very few manage to reach there. Simply, because managing revenue and cash flow is one of the trickiest aspects of the salon business. Revenue management, if implemented correctly it can have you laughing your way to the bank and if done erroneously, ca put your very existence in doubt. Revenue management on its own is a vast field, and managers today can deploy a host of tips and tricks to ensure a steady flow of revenue. However, in this piece we shall focus on how leveraging technology, i.e. deploy an integrated payment system for your salon can help boost your revenue.
Eliminate the Friction
A survey conducted to identify the top payment trends, and ease of use in beauty and wellness industry, showed that 30% of customers felt that the entire check out drill was almost agonizing. Ouch! The reasons for sub-par check out experience ranged from having to ensure that the invoice and card details are correctly recorded to waiting at the front desk until the payment process is over, and almost rightly so. However, did you know that you can easily eliminate such friction, and offer your guests a smooth experience? Simply, by choosing to incorporate integrated payments solution in your salon management software. The integrated payment solution works in complete handshake with other administrative processes and seamlessly exchanges data to auto compute the figures and the card / wallet details. All that the customers have to then do is tap on confirm the transaction. Further, an integrated payment system allows customers to complete the transaction, anytime and from anywhere through their hand-held devices.
Meet Changing Customer Expectations
With technology proliferating into our daily lives, like never before it is no longer a matter of surprise that increasing number of customers now choose to buy products and services online. In fact, over the last decade cash has lost ground to various online payment choices such as charge cards, credit cards, wallets and bank to bank transfers. So much so that wallets have now overtaken credit cards as the preferred option. Thus, as a business highly dependent on customer patronage it is imperative that you equip your salon to meet the changing customer expectation, and an integrated payment solution is the best way to do so. Not only does it allow customers the flexibility to choose from the various payment methods but also becomes a one stop solution to meet all needs. Certain integrated payment systems for salons such as Zenoti Pay, at the time of check-out, auto populate various payment choices such as cards, wallets, gift cards and loyalty rewards. By fetching the customer’s comprehensive records from CRM module, it automatically adjusts the amount due with existing gift cards, and loyalty rewards any to show the net amount due. As a result, customers no longer have to worry about their gift cards and loyalty rewards not being used. All they have to do is pick their preferred payment method, sit back and relax whilst the system executes the payment.
Automate Subscription Payments
If you have ever wondered why your membership program hasn’t taken off, then the answer is simply because you didn’t offer automated online payment choices. Studies over studies have indicated that customers are unlikely to subscribe to membership, if they have to go through a long and tedious the payment process each month. Subscriptions are most renewed when they’re almost invisible, and an integrated payment system helps in making the renewal process easy. By auto retrieving and populating the card or wallet details, an online payment system enables customers to safely and securely make the payment with one tap authorization. As a result, customers do not find the membership renewal a hassle and your business get a fixed invisible monthly income.
Automate Administrative Processes
An integrated payment system takes away the load of the administrative work involved. From recording the payment details correctly to sharing the data for automated accounting entries, the system removes manual intervention, thus freeing you to spend more time attending to customers. Moreover, with the system being intuitive in nature it keeps a track of the customer’s card information, and upon expiry of a certain payment method automatically sends reminder emails to keep the payment information updated.
Online Integrated payment systems are a game changer. The system frees up your and your staff’s schedule to focus more on better serving the customer and provides the customer with a seamless check-out experience. By taking your marketplace to where the customer is, it simplifies purchasing of goods and services, and boosts your revenue. For businesses, it improves efficiency, secures financial transactions, manage and track sales, and boost revenue.
