How To Make Your ATM More Profitable For Your Venue
As a club manager or pub licensee, you’re always on the lookout for ways to boost your venue’s profits. And you may very well already have one in your venue: your ATM machine.
While you are currently receiving ATM fees for each transaction, did you know there are simple ways to enhance the profitability of this device? If not, read on!
5 WAYS TO MAKE YOUR ATM MORE PROFITABLE
WORK WITH A RELIABLE VENDOR
Errors, downtime and maintenance all cut into the profits your ATM is able to produce for your venue – particularly if they happen in busy periods. While the initial cost of an ATM and the ongoing maintenance and support fees are often comparable between vendors, think about what an unreliable machine is costing you over time.
An ATM riddled with issues can cost tens of thousands of dollars in lost revenue over time. Choose to instead work with a reliable and experienced vendor with a stellar record of minimal downtime, excellent support and quick, on-the-ground service and repair teams.
ALLOW ATM FEES TO BE PAID WITH LOYALTY POINTS
Some ATM vendors offer ‘pay with points’ functionality on their ATMs. This means that points stay within the venue and redemption rates will increase, reducing your unredeemed point liability.
MAKE THE MOST OF ATM ADVERTISING
Many ATM devices include the opportunity for on-screen advertising – either while the machine is idle or, on ATMs with larger screens, while transactions are taking place. Advertise weekly promotions, upcoming events, function rooms for hire and membership bonuses to drive more business.
REEVALUATE YOUR ATM LOCATION
Where is your ATM currently located? Tucked around a corner out of sight? Make the most of the walk-by nature of ATM use by putting your device front and centre. Think about a position next to the front door, where it is highly visible to patrons and where there is high foot-traffic. You might even consider making it visible from the street, so passers by drop in to use it.
STAY UP-TO-DATE WITH EQUIPMENT
While it may seem like a good idea to keep an older machine running for as long as possible, it may be detrimental to your bottom line. Aside from an outdated machine being more likely to breakdown, it’s also less likely to catch the eye (in the right way!). Invest in modern, attractive and easy-to-use ATMs to increase the transactions at your venue.
Interested in paying with points ATM technology for your venue? Check out all the pay with points information you need to know to get this system live in your club or pub here.