In today’s fast-paced world, convenience is a key factor that can make or break a business. Customers expect easy access to their money, and when they can’t get it, they’re quick to voice their dissatisfaction online. One often-overlooked aspect of convenience in businesses is the presence of an ATM on-site. Not having an ATM in your establishment can not only inconvenience your customers but also result in reviews that can harm your reputation. In addition, not having an ATM can be a lost source of revenue for you. In this blog post, we’ll explore the reasons why not having an ATM can be detrimental to your business, and how you can avoid it.
Inconvenience for Customers
In today’s world, customers expect businesses to provide them with a seamless and convenient experience. One of the most obvious problems not having an ATM causes is the inconvenience, when people have higher expectations than ever. While an ATM is might not be an absolute “necessity”, customer still appreciate the convenience. When people visit your establishment, whether it be a hotel, convenience store, or bar, they may want to get cash to spend on-site or while they are out. Without an ATM on-site, they might have to leave your premises to find one, making a separate trip, causing frustration.
Lost Tipping Opportunities
Not having an ATM on-site can also result in lost financial opportunities for your staff. Imagine a scenario where a hotel guest wants to tip the valet service but realizes that they don’t have enough cash on hand. If there’s no ATM nearby, they might decide to skip the valet tip altogether.
Customer Frustration
When customers expect to find an ATM and can’t, they may feel frustrated. This frustration can easily translate into negative reviews, whether through social media, online review platforms, or word-of-mouth. Unhappy customers are more likely to share their negative experiences, and these reviews can tarnish your business’s reputation.
Perception of Inadequacy
A lack of an ATM can signal to customers that your business is not up to date with modern conveniences. In an era where convenience is highly valued, this perception of inadequacy can drive customers away. Imagine a situation where a hotel guest is on a business trip and visited a different 4-star hotel every night. Each night they get cash before they go out, and on day 6 they go look for the ATM at their hotel and cannot find it. The guest would surely thing that the current hotel brand they are staying at is “inadequate” compared to the others.
Competitor Advantage
Having an ATM in your business not only satisfies customer needs but also gives you a competitive edge over other businesses who don’t offer this convenience. We have heard stories about businesses who send their customers next door to use the ATM at their competitor’s location when the customer asks and they don’t have one available. Don’t end up in a situation like this, and make sure you’re offering every possible amenity to your customers, before your competition does.
Lost Revenue Opportunity
Not only does having an ATM on-site provide a convenience for your guests, but it also is a source of revenue for the business! With Prineta’s free, full-service ATM placement option, you can have us place and operate the ATM entirely at no cost to you, and you still make a portion of the surcharge revenue every time someone uses it! There are also other ATM service options where you can own and operate an ATM yourself and keep 100% of the surcharge revenue, earning even more money! Don’t miss out on easy, cost-free additional revenue streams for your business because you don’t have an ATM.
If you’re interested in improving your customer’s experience and also earning additional revenue for your business, feel free to reach out to to us via the contact form below. One of our service representatives will respond and tell you the ATM service options available to your particular business.