Clover Insights – Key Features and Why You Need It

March 12, 2020

What is crucial for every business owner? To know “who” and “what” makes their company grow – that’s a must when aiming for success and being relevant and competitive in today’s market. Thanks to Clover Insights, you can gain a detailed insight into your daily revenue, customer history and busy hours, and a glimpse into your competition. This tool gives you the solutions to track vital information and learn about your work and, above all, it can offer suggestions on how to improve your numbers.

What Is Clover Insights?

Simply put, it is a powerful tool and intuitive software that transforms payment data into key information about customers, sales, and your competition. Its initial version was developed by First Data, a credit card processing powerhouse, back in 2014 under the name Insightics. It was later rebranded and updated under the name we know today.

By using this reporting platform, you can easily track your business metrics in real-time and find out how other businesses around you are faring and how many customers they serve. It’s pretty straightforward to use, and it will make running your company fun, which is just the icing on the cake.

Supported Platforms and Key Features

The program is integrated into the Clover Station POS platform, a powerful system that allows you to accept all kinds of payments, including EMV chip cards, standard debit and credit cards, MAG stripe, and mobile wallets. The system includes the station, receipt printer, tablet, and cash drawer. However, having Clover POS hardware is not a condition for utilizing this tool. When it comes to this business analytics app, it is available for large credit card processors, and the data can be imported from other POS systems and merchant services, as well.

Keep in mind that you may experience difficulties when using it without an iPhone or iPad since Android hasn’t become one of the partners yet. Accessing Clover’s mobile website could be an option, but obstacles are possible if you’re doing it on your mobile device.

What are some of the most prominent features of this app? We’ve put together a list of several, such as:

  • Ability to access reporting through a variety of devices (data must be synced correctly with your current POS system)
  • You can see general transactional, expenditure, and revenue reports for the businesses in the area
  • A heat map can be displayed to provide you with revenue statistics and foot traffic – with this data, you can plan your future steps related to marketing efforts, collaboration with other enterprises, fraud patterns, etc.
  • You can check industry trends in other cities

How Can This App Improve Your Business and Make Running It Surprisingly Simple at the Same Time?

If you’ve ever wanted to know how to increase sales before investing in a new location, promotion, or product, with Clover Insights, you can get inside information on what’s working – and what’s not – for your competition.

So, after you’ve installed your app, what should your next step be? It’s simple. Just enter your store information, choose an industry, and that’s it – compare notes.

How can you learn from the competition? Here are some ideas to help you with that issue:

  • Investigate locations
  • Diagnose problem areas regarding higher or lower sales periods
  • Research product ideas
  • Identify up-selling solutions
  • Define your value proposition

Know Your Customer Better With the Help of Clover Insights

If you decide to install this app, you will significantly improve your understanding of your customers and their behavior – for example, where they live or shop. Knowing this, you’ll be able to target them better or choose your prospective store location.

Entice Buyers and Check Out Similar Businesses

One of the most efficient and interesting parts of this software is the ability to see your purchaser’s spending patterns, so that may help you to attract other like-minded consumers. Also, you can compare your sales numbers and conclude how customers are spending at other similar businesses.

Improve Your Marketing Efforts and See Real Results

Another perk of this powerful app is the possibility to find profiles of your clients and segment them by categories. How will you define them? It’s up to you, but some of the suggestions are to think about new, local, or regular clients. That’s how you could market them more productively.

Advantages of Using This Analytics App

Whether you’re just starting or you already have several years of entrepreneurship experience under your belt, having a useful program with basic competition and internal reporting is something that every owner of small or medium company desires. Thanks to its powerful features and functionality, your business could be improved by analytics, data collection, and reporting systems for retail companies.

This software is more efficient when integrated into Clover’s full POS platform, but it’s compatible with plenty of partner merchant banks and payment processors that run on the First Data platform. Best of all, there’s no setup – just log in from your phone or computer, and, above all, it can connect to almost any point-of-sale system.

It gives you access to a great deal of new information, such as weekly and weather trends, business and performance comparisons, customer loyalty, and product glimpses. Even if you’re offline, the app is continuously collecting and tracking data that is indispensable for a merchant. That being said, Clover Insights allows you to discover new information daily, which makes the whole process of monitoring your and your competition performance even more exciting.

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