Make the Most of your ATM: Use these Tips to Increase Cash Withdrawals
Business owners with ATMs in their store earn money from every cash withdrawal. While cash took a beating with the spreading of false information that handling bank notes could spread COVID-19 and the shortage of coins left many businesses unable to accept cash, cash payments have rebounded remarkable well. Today, there is more cash is circulation that ever before and U.S. consumers on average carry $20 more in their wallets than they did prior to the pandemic.
If one of your goals for 2022 is to increase ATM transactions and impact your revenue, there are some relatively straightforward things you can do to get the results you’re looking for.
Location, Location, Location
Where you choose to place your ATM is one of the most important considerations a business owner can make, as it can make or break your terminal’s success. There are a few things you should consider to achieve the best results:
Visibility - Do your customers know you have an ATM on site? One of the easiest and most effective ways to increase transactions is to increase the visibility of your ATM. The machine should be placed in a high-traffic location that is easily accessible and is visible by customers as they enter and exit the business.
Safety - It’s crucial to do everything in your power to keep your customers feeling comfortable and secure. Placing the ATM in a well-lighted part of the store - not hidden away in a back corner - have clear pathways with visibility on all sides, and monitor of the area via video will allow customers to feel safe using the ATM.
Access - Can customers easily access your ATM? To increase transactions, make it easy for customers to access it by ensuring it isn’t blocked by boxes, display racks or other items, or hidden away out of sight.
Marketing Your ATM to Increase Awareness
Is the ATM your business’ best kept secret? Increase transactions by making the most of your marketing and let customers know you have an ATM on-site.
Signage – Inexpensive pump and door decals, window signs, backlighted signs and external flags will increase awareness. If your business has permanent signage that can be customized, don’t forget to advertise the ATM on that too. Having signage on the top of the ATM can help draw attention to it as well.
ATM Branded Wraps – Make the ATM stand out with a colorful, affordable wrap. No matter if your ATM is wrapped with your logo and company colors or the logo of a local financial institution, studies show wrapped ATMs build credibility and increase transactions.
Optimize Your ATM for Success
While you may not cash load or service the ATM yourself, ensuring it doesn’t run out of cash and receives regular maintenance can help increase transactions. Studies show consumers are creatures of habit and use the same ATM on a regular basis. If the ATM is reliable, it can quickly become the ‘go to’ machine in the area and help you attract new and repeat customers.
If you do load cash and perform first and second line maintenance, it is imperative to keep it full of cash and working at peak performance. Using the tools, such text and email alerts for low cash volume and errors like bill jams, provided by your ATM vendor can guarantee the ATM runs smoothly.
Increasing marketing efforts and making a few adjustments to make certain the ATM is visible to all customers, can help you achieve your goals to boost transactions, increase revenue and attract new customers to your business.
Don’t have an ATM in your business or are tired of doing maintenance on your current ATM? Find out if you qualify for a hassle-free, no cost ATM!