Updated: 5 days ago
ATM transactions have been declining in recent years for multiple reasons. Many consumers, for instance, don’t care to pay a convenience charge to access their money. Banks and credit unions have also begun to place fewer resources into promoting ATMs as an easy way for consumers to access their accounts. Additionally, following the pandemic many people moved or switched jobs and no longer know where to find convenient ATMs near their new homes and workplaces.
So, how can retail stores raise awareness and help drive more traffic and transactions at their ATMs? Here are four tips to boost ATM use.
Optimize ATM Placement
Where you locate your ATM is critical for visibility and access. Place the ATM near the front entrance for high visibility as soon as a customer walks into the store. But, more importantly, avoid tucking it away in low-traffic parts of the store.
Close proximity to registers is also ideal, so customers can immediately use withdrawn cash for purchases. Consider store traffic flow to make your ATM accessible from multiple directions. Ultimately, saving customers time and effort with strategic placement encourages use.
Promote Your ATM
Don’t just rely on in-store signage and financial institution advertising. Actively promote your ATM outside your business. Outdoor flags and signs, pump decals and all affordable options. Another option is to include a notice about your ATM on all printed receipts. Running social media and digital ads also helps spread awareness.
Another option is to partner with nearby businesses, hotels, and community hubs to spread the word about ATM availability. The more consumers know there is an ATM close by, the more transactions you will see.
Prioritize Uptime and Service
Customers expect their ATM to work, even if they don’t understand how a transaction is actually performed. Meeting their demands of 24/7 operation lets customers know they can rely on your location as a go-to for cash and account access. Work with a reputable and reliable ATM service provider and invest in a high-quality machine to minimize downtime and malfunctions. Because quickly resolving issues keeps your ATM available and transacting.
Brand Your ATM
Custom branding your ATM with your business logo and colors will make it stand out and boost transactions. In fact, branded machines see an average of 40% more transactions compared to generic ATMs. The customized look signals the ATM is an important and integral part of your business, engendering trust with customers.
Following these tips can help make your retail ATM a convenient and well-known cash access point for customers. Optimizing placement, spreading awareness, ensuring uptime, and branding your machine will all help increase transactions. With the right strategy, your ATM can provide a resource for loyal customers and immense value for your business.
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Brandon Tant, Account Manager