IS AN ATM
A good idea for my business? DIGITAL MEDIA MARKETING MBE
ATM is a good idea for any business when we are living ideally in the business world. It is not only a good thing from
Research studies have shown that ATM users will spend up
the business point of view, but is also a source of conveni-
to 25% of their withdrawal in the same store the ATM is
ence and approachability for customers. According to a
located. Combined with more foot traffic, this could increase
Market research report, most retail shoppers prefer not to
your sales to significant amounts. Also depending on the type
have cash with them, and when they enter the retail store,
of the retail market, the spending, the discount offers,
they have budget in mind. Hence, they are well aware of their
exclusive deals, seasonal deals are all areas where the
feasibility requirements, and how much amount of cash they
customers will spend money and automatically they need
need. The following are the options that are the best from the
cash for that. Although the POS systems are a source of
marketing POV;
reduction in cash payments, still most people in many countries prefer cash payments due to transaction security. A
1. Increased Foot Traffic
desirable marketing strategy is the best way for increased
2. Increased Sales
sales and foot traffic.
3. Customer Retention 4. Surcharge Revenue
CUSTOMER RETENTION:
5. Reduced Card Fees.
From Customer’s retention Point of View, it is important that valued customers are retained and valued with significance to
INCREASED FOOT TRAFFIC:
branding strategies. When a customer enters a retail store, or
The need for customers in store is a mandatory requirement
a market, they assume they will find everything inside,
for all store businesses. Having a well-advertised ATM is an
including an ATM machine.
added advantage that will definitely bring customers. Especially true when either your own business or those around accept
The marketing is done primarily keeping in mind most
the cash transactions.
customers, and their visibility options. Customer’s value can increase with significance after a customer starts browsing in
By having an ATM installed at your business these potential
stores and is attracted with good and ideal deals. While the
customers will enter your store to use it. Therefore, ironically
customers use the ATM machine, most of them prefer to get
increasing your sales levels.
cash with free payment options, i.e. no surcharge at all on
Increasing the foot traffic is the best approach according to
taking the cash from the ATM. Naturally, if they don’t find an
the marketing and promotions point of view, and enhances
ATM they will have to leave costing time, and making them
customer’s approach towards satisfaction.
uncomfortable. This also creates an opportunity for the customer to change their mind and not move ahead.
INCREASED SALES: Having an ATM in your store will automatically increase your
Hence, from a simple marketing theory, having an ATM in
sales and will give you direct profitability. It will also give
your retail store, outlet or shop will definitely prevent custom-
profitability options that are unplanned as customer satisfac-
ers from leaving to gather the funds necessary for the
tion aspects will in return result in fruitful profitability.
purchase.
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MBE BUSINESS MAGAZINE FEBRUARY / MARCH 2020
W W W. M B E F O RYOU. C O M
