An Easy, Cost-Effective Way For Merchants to Cross-Sell, Increase Revenues
August 15, 2005
Faced with the high cost of fuel, escalating credit card fees and market competition, retailers looking for ways to increase in-store sales should look no further than their own ATM. When considering options for in-store advertising and generating additional revenue, the ATM is actually the most cost-effective and the easiest place to start.
"Having an ATM in your retail location is still the best vehicle to put cold hard cash in customers hands, draw customers in, and give them more spending power," said Steve Polk, Triton's Retail Sales Director for North America. "Then once you get them in the store, you want them to make a purchase."
"Advertising on an ATM is a powerful tool," says Polk. "And a cost-effective way to increase in-store revenues."
Gord Neis, Vice President of Marketing and Sales Operations for Cash N Go, called advertising on the ATM "common sense marketing". Neis said the response from customers has been very positive. "Their eyes light up when they realize how easy it is to harness the power of the ATM," said Neis. "There are many opportunities. Right now we are just scratching the surface."
There are value-added services associated with ATMs that are underutilized. Triton, a leader in the retail ATM market, currently offers options such as on screen ads and coupons which can be downloaded and featured on ATM screens and transaction receipts that can be customized to include specific advertising messages or branding.
These options are easier and more economical to use than retailers may think. A few years ago, advertising on the ATM was considered costly because of the upgrades or additional features associated with the advertising options. As ATMs become upgraded due to age or mandates to comply with industry regulations, the number of ATMs deployed with a windows-based system increases, providing advanced functionality and capabilities, if not already in place on your current ATM.
All Triton ATMs come standard with the simple ability to load graphics designed on a computer. Enter an easy, visually stimulating way for merchants to draw your customer's attention to in-store specials, use the ATM, and put more cash in hand for purchases.
Cost-conscious merchants would be well-advised to look no further than their ATM to assist with advertising. Since placing digital signage at the pump has helped rejuvenate sales, convenience store owners are now taking a second look at placing screens for advertising in the store. Compared to the cost of digital advertising with plasma screen televisions placed in the store, which start at a whopping $1,000 to $25,000 each, advertising on the ATM is indeed more economical.
According to research from Celent Communications, the cost of ATM campaigns is marginal when compared to other traditional media venues, because even with a small response, there is a positive return on the investment.
"An on-screen graphic ad is a good place to start," said Anita Nobles Arguelles, Triton's Director of Marketing. "A powerful combination from there is to use on-screen ads and coupon on demand."
Merchants can easily navigate usage and form their own pattern of advertising options. All options can be used at the same time. Triton is working to make these options even easier to utilize with a web-based tutorial that will be available around the end of October.
"Advertising opportunities at the ATM help differentiate one retail location from another," said Neis. "Once you change the customer experience at the ATM, you can expect that customer to return."
