Brick-and-mortar businesses, such as restaurants, gas stations or nail salons, may benefit from having an ATM. It can attract more customers and make money for your business. But how profitable is an ATM?
On-Premises Spending Boost ATMs are a convenience to consumers needing quick access to cash, and businesses that carry the machines, such as stores and restaurants, are frequently the first place that money is spent. Researcher Harris International Marketing found in 2011 that convenience store retailers typically see the average amount spent increase by 65 percent after customers begin using an in-store cash machine, while spending in the vicinity of ATMs declines dramatically following their removal. Lenpenzo’s data indicates that 75 percent of money dispensed via ATMs at nightclubs, on average, is spent on the premises.
The difference an ATM machine makes to a business can be tremendous. Customers need and desire convenience, and if a store offers them the ease-of-use that they are looking for, they are much more likely to be a return customer.That said, having an ATM machine at any business space can mean an instant increase in traffic and conversions. There are many more benefits to having an ATM machine including the following: boost Sales, drive revenue, increase employee tips, decrease customer confusion when planning to come to your establishment. Whether you run an apparel store or a grocery store, having an ATM machine on your premises will increase the chances of customers spending more on your products. In fact, according to a survey posted by National Link, approximately 70 to 80% of the transaction made from night club ATMs are spent at the club.This means that having an ATM machine in your business location will likely boost your sales, helping you improve your bottom line. Not only this these machines improve marketing- ATMs are a great way to attract an audience to your business location. With an ATM placed in your store, you can establish a good image of your brand in the eyes of your customers. Moreover, those who do not fall under your ATM machine target market may also be drawn to your business and become returning customers. An ATM acts as a great marketing tool, allowing you to increase your market share and your profits. ATM's builds business reputation. Businesses that improve their customer service and offer convenience to their customers are the ones that stand out in the increasingly competitive market. No one likes dealing with companies that do not care about them. When you invest in an ATM machine for your business space, you are investing in customer utility, thereby, improving your brand image in the market. Increased Earnings: Did you know that an average 7-eleven store performs 3,000 transactions in a month? When you have an ATM at your store, it increases your chances of earning more money because some of these transactions will result in a customer withdrawing cash from your ATM. Apart from earning from increased sales, you also earn money from ATM transaction fees.The perks of having an ATM in your business location are endless. So, if you want to cash in on the benefits, invest in an ATM machine today.
Given how important these businesses are for our economy, it's clear more should be done to enable them to grow. Access to cash and ATM machines is vital in enabling small businesses to thrive.