How Mobile Event ATMs Make a Profit
As events pop up all over the east coast, mobile ATMs are in high demand. Whether it’s a festival, carnival, conference, or otherwise, a mobile ATM machine is a great way to make some extra profit in your ATM business. What’s more, at these types of events, people are always in need of cash. Granted, there is plenty of “swipe” technology out there for cards, but customers are aware of the fees. Instead, a cash stall is a great addition to any event that requires cash to participate in the entertainment. It’s time as an ATM company to get in on the local events all across the east coast and buy a mobile ATM machine from Tritec.
Mobile Event ATMs Make A Profit
When people have cash in hand, they are more likely to spend it. You may have heard that cash is harder to part with than swiping a card. This may be true in some circumstances. However, in the hustle and bustle of a local event like a fair, carnival, or conference, the limitation of card technology makes it painful to use one. Instead, people prefer cash. It’s quick and simple to use when purchasing items. Here are the other ways ATMs make a profit:
#1. Increase Profitability For Business
At local events or even regional conferences, the accessibility to cash is a huge advantage for businesses and customers at these events. Cards may be easier to tap, swipe, or insert, but when the expectation is cash, you must have at least one mobile event ATM machine on the premises. When cash is accessible, people spend more of it.
#2. Leverage Vendor Loyalty
A mobile event ATM machine is the “middle man” for customer spending with vendors. When vendors see that an ATM is nearby their table, stand, or display, they get excited. Nearly every guest to the event will be stopping by that machine to get their cash. What’s more, if someone is a little short on cash, businesses gain the luxury of keeping them close and engaged when an ATM is available for cash withdrawal.
#3. Increase Cash Convenience
It’s been shown that cash in hand is more likely to be spent than cash in the bank. The convenience of a mobile event ATM means that customers do not have to leave the event to get what they need to buy the things they want. This is a huge convenience to the customer, and it’s been shown to increase sales at these types of events. What’s more, you can offer a customized ATM experience by offering stalls or indoor ATM machines via a tent, which creates the feeling of safety.
#4. Build More Trust
When customers have little-to-no friction between the “I want” and the “I have” stages, the more money they will spend. For example, once a customer decides that they want a certain product, they will then determine how they will buy it. This involves inquiring their bank account, their cash in hand, and the eventual joy of experiencing their purchase. You want to decrease the friction in this buying process. You want to offer them the solution to their problems. Cash is available via an ATM, and they can enjoy their purchase now, not later. This builds trust over time. As customers enjoy events, they’re likely to spend more. Keeping them in the area is a great way to increase revenue and build trust.
Mobile ATM machines are able to move as needed. So if a lot of your foot traffic is congregating near one area, you can move the ATM over to that area (or add an extra ATM) to encourage customers to take out cash. What’s more, vendors will be more flexible with their pricing if cash is being used. No matter the event, a mobile event ATM machine is a great way to support vendors and help customers.
Tritec ATM: Your East Coast Leader In ATM Management Services
It’s time you utilized ATMs to support event vendors and helped customers spend more money. Not only can you offer mobile event ATM machines to those in need, but you can help stimulate the economy with cash flow. An ATM is more than a terminal that spits out cash. It’s an encouraging beacon to vendors and customers alike. Buy an ATM now!