If you are a shop owner looking for new and effective ways of boosting your profits, why not think about installing an ATM machine into your premises? There are many benefits, which we are going to look into straight away.
Gives customers access to cash
If a customer is in your store and wants to buy something, they might pay by card. But what if they don’t like using electronic payments? Having a cash machine on your premises will give them access to any available cash that they have.
Customers won’t need to leave
If that customer described above, doesn’t have access to their bank accounts, what are they going to do? They will go and find an ATM to use, and although they might come back, there are no guarantees. Perhaps they will pass a similar store to yours and pick up what they need from there instead. Having an ATM in your store means you don’t have to take that risk.
Struggling with pulling in customers? ATM machines for business are an excellent way to increase footfall in your store. Why? Because if you have a huge sign telling people they can get cash out in your shop, then you will attract people that wouldn’t normally pay you a visit. That’s more traffic, and more opportunities to make some sales.
Encourages customer loyalty
If you have the only cash machine in your area, you will get repeat customers more often. It will give you the opportunity to develop relationships with them – and the people that come in with them.
Boost your profits
Customers who take out cash from a store ATM spend around 50% of it before they leave. Without an ATM, that could be an awful lot of money drifting in – and straight out – of your doors. Not only that, but you will get more opportunity to interact with them. That could be when they ask where the machine is, when you are walking them to its location, or when they finally come back to the register to pay. That’s plenty of time to prep some handy psychological triggers to get them spending more!
No card checks
Card checks can be time-consuming and embarrassing for customers. If their card is declined for any reason, they may not want to come back into your store – so give them the option of getting cash out there and then.
No card fees
Every single transaction you put through a card machine will involve a charge on your account. Although the percentages may seem small on a one-time basis, they soon add up. Over the space of a year, you might be alarmed at exactly how much money is disappearing from your business through merchant fees. An in-store ATM will help you cut those costs.
Lift in takings
Probably the best benefit ATMs bring to your store is that every time somebody takes money out, you will get a portion of the surcharge. So, even if someone walks in off the street, takes some money out and leaves straight away, you still get paid.
As you can see, there are many advantages of having an ATM in your store. Would you consider it?