As a retailer, convenience store owner, gas station operator or other small-business location, you try to give your business every possible advantage. Even though the world of digital payments is quickly evolving, you should still consider having an ATM at your location. This one simple step can provide a big boost to your bottom line.
Here are just some of the benefits of having at ATM in your business:
- Customer Convenience: Busy, on-the-go customers often want a quick source of cash without having to wait in long bank lines. Having an ATM in your business makes it fast and easy for them to get ready cash in your location while they are completing their normal errands — something they’ll appreciate when they’re thinking about making their next purchase. This helps to boost your reputation as a business that does everything it can to make life easier for its customers.
- Increase Purchase Size: Industry research shows that consumers are far more likely to spend more than they originally planned in locations with ATM availability. Once they’re spending money in your location, they often tend to forget the original budget they had in mind.
- Increases Spur-of-the-Moment Purchases: Many consumers are prone to buying on impulse, even if they were not originally planning on making a purchase. If they are in your location and need gas or see something they want to buy at the exact moment they have cash in their hands, the odds increase greatly that they will make that purchase. Make sure you place attractive point-of-sale purchase opportunities within easy view of your ATM. Your cash-rich customers might see the lottery sign and make a quick decision, or they might call home to see if their partner wants them to pick up anything from your store.
- Makes Money instead of Costing Money: Most businesses have to pay a fee when customers use credit cards, checks or electronic payments to make a purchase, or they get stuck with the hassle of charge-backs and NSF checks. As the owner of a business with an ATM, however, you have the potential to earn money from fees that are charged to the consumer. This amount could vary from a given percentage to 100% of the fees if you own the ATM, but even a percentage coming to you is better than paying money to credit-card companies.
- Sets Your Business Apart: Differences from one convenience store, gas station or small retail location to another can sometimes get blurred in the consumer’s mind. But a place they go to on a regular basis that has an ATM right on-site stands out from the others, and it moves your location to the top of the must-patronize list.
Never let customers walk out your door because they don’t have money, as they might not come back. An ATM is a great way to seal the customer relationship. It keeps customers coming back when they need more money, and it increases the likelihood of making a purchase once they arrive.
TransNational ATM is an independent ATM deployer for merchants and owners of small- to medium-sized ATM portfolios. Contact us today for further information on ATM installation.