It’s not a cost…it’s a catalyst!
For as long as we at All Point can remember, we’ve been arm wrestling a debate over how to view the cost of IT. There’s an obvious sense of dread when the time comes to talk about “the estimate” with our clients. As people that stand on the other end of these decisions, it can be disheartening. Why? Because we watch the outcomes of smart IT spending every single day…and they are called an investment for good reason.
A negative mindset hinders owners from making smart tech decisions. A solid tech stack deserves to be viewed with the same enthusiasm and ‘accepted truths’ of other store investments. Let’s dig in!
The Right Location
There are many reasons that store owners are so careful about where they choose to sign a lease or buy their property, and it comes down to exposure to the right people to buy what they’re selling. Do they see finding the perfect location a cost? No. It’s the ticket to the right kind of traffic…which translates into more trips, tickets and baskets.
The Right Staff
The right retail store employees can ‘make or break’ a retail business, and people who are customer-focused, productive, skilled at selling, and able to work well together are not a cost–they are a critical factor every retailer’s playbook.
The Right Tech Stack
So, here’s where we get stuck. Location and staff are seen as fundamental investments, where technology is often seen as a revenue suck. We’re crying foul!
Do you consider your phone or email systems a cost? No, because customers connect with you through them. Same for your Internet and website costs–people can find you, contact you and buy from you via a fast, functional website. So why, we ask, do so many owners pinch pennies on IT investments when even the basic benefits are hard to argue? We ask ourselves this question all the time.
CHANGE THE WAY YOU THINK ABOUT YOUR TECH…IT’S NOT AN EXPENSE, IT’S AN ENABLER! IT’S ALL PERSPECTIVE
There are some established items on every retail P&L that are seen as drains versus radiators. Don’t let your tech fall into this trap! Retail store owners should revisit the many upsides of technology, create a long-term strategic plan for implementing it, and consider partnering with a technology provider like All Point to get unbiased, expert help navigating the “source to support’ process.
Our next blog is going to dive in deeper on the upsides of the right store IT that you may not have even thought about!
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What you don't know can absolutely hurt you.
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