Tag Archive for: atm customer service

Why Every Retail Store Should Consider a Free ATM Placement

by

Every retail store should consider a free ATM placement. As a business owner, you are probably always searching for ways to attract more customers and increase revenue, especially in today’s competitive retail environment. One powerful strategy is free ATM placement. 

By partnering with a provider who installs and manages an ATM at no cost, retailers can transform a small corner of their store into a profit-generating convenience for customers. In this article, we’ll highlight all the ways your store can benefit from an on-site ATM machine and how you can get one installed for free.

What Is Free ATM Placement?

Does a free ATM placement sound too good to be true? Here’s how it works:

Free ATM placement means a third party provides your business with an ATM. This third party typically handles installation, maintenance, and cash loading all at no charge to you. In some cases, however, you can agree to take on one or more of these responsibilities for a share of the surcharge revenue (more on that later).

Essentially, a free ATM placement is a hands-off way to add a valuable service for your customers. But there are a number of other ways your store can benefit as well.

Benefits of Free ATM Placement for Retail Stores

Increased Foot Traffic

Increased foot traffic means more potential business and revenue. Shoppers in need of cash will naturally be drawn to your store if they know an ATM is available. 

Recently, public opinion company Creative Consumer Research surveyed retail customers across the US on store premises at locations where ATMs were available in an effort to gain insight into the impact of in-store ATMs on consumer traffic and purchase behaviors. 

Of the 395 customers surveyed, 70% reported visiting the store primarily to use the ATM! This extra traffic translates into more opportunities for new customers and higher overall sales.

Higher Sales and Impulse Purchases

Customers who withdraw money from an in-store ATM often spend it immediately, many times in your store. According to the Creative Consumer Research survey, 33% of ATM users made a purchase while in the store, about 52% of whom paid for their purchases with cash they had just withdrawn from the in-store ATM. Convenience stores, gas stations, and small retailers especially benefit from this spending pattern.

Enhanced Customer Convenience

A retail ATM placement also ensures that customers don’t have to leave your business to find cash. The Creative Consumer Research survey found that 59% of respondents came to the in-store ATM because it was convenient. Furthermore, 54% said they would shop at the store less often if the ATM was removed. Convenience keeps sales in your store and positions you as a customer-first location. 

Passive Income Through Surcharge Revenue

With free ATM placement, store owners have the potential to receive a share of each transaction fee. Even with moderate use, these small payments can add up to a steady passive income stream. 

However, this is dependent on the agreement you make with the third party ATM owner. Even if you opt for a free placement without a share of the surcharge revenue, you are still going to experience a number of lucrative benefits simply based on the added convenience it offers your customers.

Zero Cost, Zero Responsibility

Alternatively to receiving passive income through surcharge revenue, you could be experiencing other lucrative benefits with zero cost and zero responsibility on your part. In a typical free ATM placement arrangement, the provider, or ATM owner, covers the equipment, service, and ongoing support. 

Your only responsibility is offering the floor space. That is, unless the provider shirks their responsibilities. Hosting an ATM machine that is frequently out of service or out of order negates all of these benefits. 

When questioned in the Creative Consumer Research survey about the most valued attributes in an ATM, 27% cited reliability. And remember that 59% cited convenience. Your ATM is neither reliable nor convenient if it isn’t consistently functional or properly stocked with cash. 

So, if you find yourself in a situation where your provider is not holding up their end of the bargain, it then becomes your responsibility to terminate your contract and find another, more reliable provider to partner with. 

Competitive Edge

By offering on-site cash access, your business gains an advantage over nearby competitors. Shoppers are more likely—59% more likely—to choose your location if they know they can access both cash and their essentials in one stop.

Reduced Credit Card Processing Fees

Every time a customer pays with a card, retailers lose a portion of the sale to processing fees. Processing fees typically account for between 1.5% and 3.5% of the sale which adds up quickly, especially for businesses that operate on thin margins or process many small-ticket transactions.

By offering an on-site ATM, you make it easier for customers to pay with cash instead of cards. Cash purchases mean no swipe fees, no interchange costs, and no deductions from your profits. 

For convenience stores, gas stations, and other retailers where small-ticket transactions are common, encouraging cash transactions can preserve a meaningful share of revenue. In this way, free ATM placement not only increases sales but also helps you keep more of what you earn.

Is Free ATM Placement Right for Your Store?

If you operate a retail store, gas station, convenience store, or other high-traffic business, a free ATM could significantly enhance your bottom line. The best part is it requires no investment, no maintenance, and little to no effort on your part.

When it comes to determining whether you want to buy an ATM for your location or have a professional place and operate a free ATM at your location, you first have to figure out how much time you’re willing to put into an ATM machine. Are you willing to fill it with cash? Willing to take time out of running your business to fix an ATM error if one does occur? Are you willing to take time to keep the machine cleaned? Willing to keep it up-to-date with the latest software? Are you prepared to foot the cost of an ATM machine for your business by yourself?

If your answer is yes, you can own and operate your own ATM machine from your own store. Our free ATM Start-Up Kit will walk you through each step you need to get started. Simply review the kit, fill out the paperwork, send it back to us, and you’ll be ready to place your order!

If you answered no to any of the questions above, then a free ATM placement could be right for your store! 

How to Secure Your Own Free ATM Placement

Free ATM placement is a simple, no-cost way to boost foot traffic, sales, and customer satisfaction while potentially earning passive income. In an industry where every advantage matters, offering on-site ATM access can set your store apart. Partnering with an ATM provider allows you to grow your business. ATMDepot can help.

Send in an ATM Placement Request, and ATMDepot will search our repertoire of well-established and certified Independent ATM Deployers (IADs) for a representative of ours in your area. Once we find one, we’ll get you in touch. The IAD will be able to place an ATM in your store for free in addition to assisting you with whatever ATM services you’d like provided like filling the machine with cash and/or maintaining updates and cleanliness. Contact us to take the first step today!

7 ATM Customer Service Tips

by

You may be surprised to read that there are ATM customer service tips. After all, you likely won’t see or personally interact with your customers on a daily basis. However, you do operate a business. And good business people must practice certain etiquette to maintain a successful business. 

You might be competing with banks or other nearby ATM machines. To maximize your transaction revenue, you want customers to choose your machine. How do you do that?

The beauty of the ATM business is that you are able to generate passive income. That means that your machine should make you money with a minimum amount of effort from you. But keep in mind that in order to generate that passive income, you have to make sure that your business runs smoothly even when you aren’t around. 

The following ATM customer service tips will help you provide a seamless experience for your users. And hopefully create repeat customers. But these ATM customer service tips also apply to your relationship with the location owner. 

If you place your ATM machine in someone else’s store, you want to ensure that the store owner and everyone involved is happy with you and your machine. Otherwise, you could risk losing the location. And that can be a costly dilemma, especially if the location brings in a lot of transactions.

So as you read these 7 ATM customer service tips, think about how you can improve your relationship with the location owner and your customers. Because good customer service could make or break your business.  

7 ATM Customer Service Tips

1. Communicate Clearly

When it comes to customer service, communication is key. We can think of a few examples. 

First of all, be transparent about your surcharge fee. No one likes to be surprised by an unexpected charge. And if you have to raise the surcharge, let your customers know why! It’s easier to accept a change if it can be logically understood.

Second, if your machine is out of order for whatever reason, let your customers know what’s going on. If possible, provide a timeframe for resolving the issue. Otherwise, an out of order sign can deter customers for a long time if they feel like they can’t expect reliable service consistently. 

It’s also important to use positive language. Rather than saying “Out-of-Order,” try something like, “We’ll see you tomorrow!” This might not help a one-off customer, but it lets repeat customers know that the problem will be fixed quickly and that they can still rely on the machine in the future.

You might also consider providing contact information. If customers know they can call or email someone if they have a problem, it makes the experience more personable. It’s easy to forget that there is an actual person behind the machine.

Finally, you’ll want to communicate clearly with the location owner and any other partners you might have. Make sure that any agreements are win-win. This will prevent animosity and ensure that your business thrives because everyone has a stake. 

And clearly define roles and responsibilities. Otherwise, tasks might not get done if one party thinks someone else is handling them. Good communication and organization behind the scenes will translate into better ATM customer service for your users.

2. Listen

A major part of good communication is good listening. You can use an active listening strategy like the LAER method to communicate better with your partners and customers. 

If there is an issue or concern, the first step is to listen without interrupting. Second, acknowledge, verbally or nonverbally, that you understand. Then explore what was said. Repeat what was said in your own words to make sure you got it right, and ask follow-up questions to gain more insight. 

Finally, respond. Respond only after you’re sure you know where the other party is coming from. That way your response is direct, relevant, and fair.

3. Be Proactive

There are many strategies for providing good ATM customer service in the event of a problem or conflict. But if you don’t learn from these mistakes, then you’re wasting time. Good ATM customer service doesn’t just mean fixing problems. It also means preventing them.

You can’t provide your service if your machine isn’t functioning properly. So think about what could go wrong and things you can do to prevent it. How could you prevent or minimize the threat of theft or vandalism? Paper jams? Cash shortages? 

Some problems are easier to prevent than others, but if you at least develop a plan of action for some worst case scenarios ahead of time, you will be able to resolve them a lot quicker. The more prepared you are and the faster you act, the sooner you will be able to continue to provide your service.

4. Monitor Data

Remote online monitoring is one way to prevent issues and learn more about your customers. With online monitoring, you are able to track your machine’s activity from wherever you are. Maybe a camera feed shows something suspicious that you want to nip in the bud. Maybe your numbers aren’t working out and you need to chat with your vaulter.

You can also use online monitoring to track activity trends. This allows you to provide better ATM customer service because you know who your customers are and what they need. 

For example, if you notice that Fridays are heavy transaction days, you want to make sure the machine is fully stocked Thursday night. You might also plan to be available or on call on Fridays so that you can quickly resolve any issues and provide good service to more customers.

You might also track withdrawal amounts. If you notice higher withdrawal amounts than you expected, you might consider adjusting the denominations you offer. Learning from your data and acting on it shows that you care about providing good ATM customer service.

5. Unify Your Team

A bicycle doesn’t work with only one wheel. A car won’t work with only three tires. Similarly, your business won’t function to its potential if all parties aren’t working together.

If you are the only member of your operation, you don’t have to worry about this one (provided you are happy with your ATM service provider). However, chances are you at least work with a location owner, location managers, location employees, or anyone responsible for your machine when you aren’t around. 

Make sure that roles and responsibilities are clearly defined and agreed upon. Then, implement measures to check that everyone is doing his or her part. You might need to offer some sort of training, develop a detailed contract, or even outsource some tasks like vaulting. 

Either way, make sure that everyone involved works together to prevent issues and ensure success for each party. 

6. Maintain a Strong Work Ethic

Having a strong work ethic and being a workaholic are two different things. Remember, you want your ATM business to bring you passive income. But in order to do so, it’s your responsibility to make sure your business (or ATM) is working properly.

The more work you put in at the beginning, the more passive your income will be later on. So don’t cut corners, make action plans, and organize your team. Most importantly, be accessible. 

If, by some chance, something goes wrong, you are going to want to know about it. The quicker problems are addressed, the quicker you get back up and running. If a user has trouble with the machine, and they call the number you posted, make sure you are there to help. If your vaulter has an emergency and can’t fill the machine, that responsibility falls on you.

Don’t worry. You can still go out of town or take a vacation if you need to. Just make sure you leave someone in charge while you’re away so that your business continues to run smoothly.

7. Choose the Right Tools

You can’t provide the best ATM customer service with sub-par tools. If you compromise quality equipment to save a buck, there’s a chance your users will encounter more problems and an out-of-order machine.

Your main goal as an ATM business owner is to minimize the amount of downtime your machine experiences. Because when your machine is down, you aren’t making money.

Aside from the machine itself, there are other tools that can help you consistently provide good ATM customer service to your users and your partners. Whether you want to invest in a particular lock, security cameras, or add-ons like a topper, any decision you make with your customers in mind is going to pay off in the end.

Now, you don’t have to invest in every bright and shiny feature, and you can find quality used or refurbished equipment affordably. What we mean by “choose the right tools” is “choose the right tools for you”. Choose the right tools that serve your customers and your location. This will look different for each IAD.

However, we will recommend that you consider adding remote online monitoring and an ATM wireless device to your toolbelt. Having an ATM wireless device for your internet connection allows you to provide your service more predictably and consistently. The alternative is relying on the location’s internet service provider which could be problematic or a hassle to troubleshoot.

Whatever tools you need to consistently provide good ATM customer service are the right tools.

The Importance of ATM Customer Service

Customer service is your business. Without it, you go broke. You have location owners and users counting on you and your machine. Why should they work with you? Why should they choose your machine? Convenience.

The service you provide is convenient access to cash. If you compromise ATM customer service, your business will lose that convenience factor. An ATM business is a unique business model, but all businesses rely on good customer service to succeed. These tips can help.