So you have an ATM in your business, but do you even know if you’re getting the most from it? In this blog we’re going to teach you a few tricks in profiting from your ATM.
It’s a good idea to figure out how much you make a month and year so that you know the value of your investment. It’s also important to keep a close relationship with your ATM so you are aware of the profits being made within the business, giving you an idea of its worth.With a Euronet ATM we do all the difficult jobs for you allowing you to sit back and relax whilst the figures come rolling in!
Are you advertising that you have an ATM?
How are your customers and even potential customers supposed to know that you run an ATM service if they haven’t been made aware of it? A few signs, one for the inside of the store and a couple to put up outside makes a big difference!
Lucky for you, Euronet provide promotional signs, you’ve just got to make them stand out! Put them in an area where they will be seen. Put the biggest sign outside the store so that by-passers are aware that if they ever need cash they can visit your store for some. Place another sign in close proximity to your store, notifying people that there is an ATM within walking distance. Those small efforts will make a big difference, you watch!
Do you utilise your space well?
No matter what the size of your business, how you use your retail space will be key to your success and in the convenience environment literally every cm counts! It’s important to utilise your retail space well and with a Euronet ATM you can!
Our market leading, lobby style Retail ATM is only the size of a box of crisps (approx. 45cm X 60cm)! It may be small but this particular investment will draw those out of reach customers into your store!
Don’t forget to keep the space clean! There’s nothing worse than physically being able to see the dust and dirt on something that you need to use. It will put off customers immediately. If the space around the ATM is full of clutter you can say good bye to your possible ATM users! Keep it clean or it won’t be seen!
Are you actually aware of the benefits it provides you?
Many retailers just think that ATMs are there to serve and keep customers happy… they are, but that’s not their only job! Shop keepers benefit massively from an ATM! Check out some of these benefits to find out if you’re profiting from your ATM! All facts are provided by the Local Shop Report 2017.
Increase in footfall
Footfall is a big factor for retailers, it’s important that their service and products are drawing customers into the store, which will then turn into sales. 80% of users will revisit an ATM site at least once a week, did you know that? So if you have a cash machine in your store, footfall figures will increase as customers will be coming in to withdraw cash.
Euronet provide free servicing, maintenance and marketing material! One of our ATMs will boost your bottom line by £1,000’s!
Basket spend increase
Did you know that an ATM in a convenience store increases basket spend by an average of 65%? Well now you do! Think about it, how many times have you gone into a shop with cash in your hands and you spot a chocolate bar you fancy. It’s only a £1, why not?
¾ of people will go onto impulse buy where a cash machine is available because the money is right in their pocket. How can you turn down those extra sales?
Without an ATM, you could be missing out on loyal, profitable customers… 75% of people now expect a convenience store to have an available cash machine, you don’t want to disappoint! In fact, 76% of customers still pay in cash!
How does it benefit your customers?
Of course the main reason it benefits your customers is that you are providing them an easy, cash withdrawal service to rely on. But it doesn’t stop there! Not only is it convenient but it’s consistent as well! As long as your store is open the ATM is available, allowing your loyal customers to come and go when they please. You are also providing them some payment comfort.
Your shop might be the only convenience around in rural areas such as villages. It’s just hassle for customers to travel distances to their bank in the next town when they could have a cash solution right down the road in your store!
Don’t forget that you’re also giving them a safe, trusted environment to withdrawal their cash securely. With the comfort of security measures inside your store the customer will feel safer dealing with their money, and will also hopefully go onto impulse buy!
Some people adapt to the cash lifestyle as a way of budgeting their money. This means that they need an available cash machine to be able to stick to their budgets, which you could provide! You see, not only is an ATM a great investment for the figures in your store but you’re also keeping your customers happy, win win!
What do we offer?
With a Euronet ATM you don’t have to worry about maintaining the cash machine, not to mention we provide you with free engineering support as well so the operations are covered.
We have a dedicated Irish team who will supply technical, operational support 365 days a year! Our contracts are honest, fair and have no hidden costs, we also have the best commercial terms in Ireland… you don’t want to miss out!
Now we’re going to ask you the question, do you think you’re profiting from your ATM? There’s just so much going on behind the scenes with an ATM that you don’t even realise…
Tweet us and let us know how your ATM is doing!
As mentioned previously, if you’re interested in adapting to the cash lifestyle yourself to help you with budgeting check out our blog based on mitigating financial stress!