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Have you ever been stuck waiting in the lobby of a business, when it suddenly hits you that you’re absolutely parched? You would do just about anything for a cold glass of water, but unfortunately, the establishment you’re in doesn’t have any fountains.
Chances are, you probably cut your visit to this business short in search of a bit of hydration. Now, if they’d had a vending machine onsite, what are the chances you would’ve stayed around a bit longer? This is just one reason why vending machines are a great investment for your own business.
Boost customer satisfaction
In today’s world, the customer is (almost) always right. And a happy customer is more likely to become a repeat customer. If you’re not doing everything in your power to make sure your customers’ needs are addressed, you might find yourself slipping behind in terms of customer satisfaction. Having a conveniently placed vending machine onsite makes it easier to keep your customers hydrated, satiated, and satisfied.
Depending on your business, your customers are your lifeblood and failing to address these basics needs can have consequences. From the possibility of negative online reviews to bad word-of-mouth exchanges, it’s important to protect your reputation.
While you might not think a vending machine could have that much of an impact, you’d be surprised at the small details customers spot when they visit your business. Plus, you don’t want to read an online review mentioning a lack of available refreshments and wish you had done something about it beforehand.
The financial incentives
Not only does increasing customer engagement boost the likelihood of repeat customers, you’re also able to reap the profits that the vending machine itself brings in. As a business owner, you can likely stock your machines with products purchased at cost and price them for sale at a decent markup.
Although you won’t be making immense amounts of money off of each sale, vending machine purchases add up much more quickly than you would suspect. Depending on how frequently you retrieve money from your machine, you could have a nice little windfall on your hands.
When you’re deciding on your markups for products in your machine, it’s important to be shrewd but fair. After all, unless you’re absolutely the only option in the vicinity, absurdly high prices will drive your clientele elsewhere and that’s not something you want to deal with. If you get a chance, look at how other businesses price their vending machine products and adjust your own prices accordingly. A bit of market research never hurts in the long run.
Choosing a provider
It’s important to select a vending machine provider that’s ready to work alongside your business to achieve your overall goals. It’s not as simple as merely selecting a machine and plunking it down in your lobby. You need to factor in ongoing maintenance, repair warranties, and the provider’s overall customer service. That’s where some vending machine providers tend to fall short, and it can negatively impact you down the line.
It’s better to look for respected companies like Everest Water that respond quickly to inquiries and help set up repairs in a timely manner, so you’re not stuck with faulty equipment taking up unnecessary space in your business. If you’re looking at a provider that doesn’t assist you beyond the initial purchase, it’s probably best to spend your money elsewhere.
Now that you know just how a vending machine can provide a boost to your business, you’re ready to start doing your research on which provider will work best for you. Once you’ve done that, all that’s left to do is purchase a machine and get it installed. Don’t forget to keep it regularly filled beyond that and enjoy the financial uptick it provides!
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