Why your store can’t survive without brand building
Building a brand isn’t only the prerogative of big players like Apple, Google, Adidas or Dolce and Gabbana — businesses of all shapes and sizes need to invest in brand building. Your brand is what differentirates you from the store next door, and reflects your business ethos, personality and the types of products you sell. There’s no limit to the tactics you can employ to build your brand. One less talked about method is to install an ATM machine in your store. Not only will it attract more customers, earning you more revenue, it will help create a unique brand for your business. Read on to find out how to leverage this asset.
Branding is relevant to everything from sheep to rock stars
The term branding, in a business context, originated from the practice of branding livestock with a branding iron, back in the agricultural days of old. Farmers would differentiate their animals from those of neighbouring farmers. It made trading animals easier too, and acted as a mark of quality. Entrepreneur defines it as “the marketing practice of creating a name, symbol or design that identifies and differentiates a product from other products.” While the definition is correct, brand building has become more than just a way to make yourself stand out from the crowd. It’s a way to create a culture, to give your business a character that people can buy in to. Just like rock stars have their personal brand, so too do businesses — and the more personality a business has, the higher the chances it’ll cultivate a fan base that buys its products simply because of the brand.
Your store, however large or small, needs to cultivate its brand
But how does a store-owner selling less flashy items than the latest takkies or the newest iPhone get brand building right? What do stores selling everyday items like groceries, airtime and soft drinks have to offer that will create a strong brand? True, if you’re a small, family-run business in a medium-sized town, perhaps your brand won’t rise to the dizzying heights of Nike, but creating a strong brand that’s recognised and favoured by everyone in your town is a necessary achievement. This is where ATM machines come in.
Your products and in-store ATM help create a strong brand
As well as the range of branded goods you stock in your shop — or how you’ve branded your goods, if you sell goods you’ve produced yourself — an in-store ATM will make your brand seem professional, innovative and customer-service orientated. Your customers will appreciate the convenience of being able to withdraw cash while doing their shopping (two birds, one stone), and if they’re visiting your store for the sole purpose of withdrawing cash, it’s likely that they’ll end up buying your products anyway.
The bank your ATM is branded with is based on research carried out by your provider
Brand building can also be facilitated by which bank your in-store ATM is branded with. Your ATM provider will choose this for you, based on thorough research into your customer demographic, as well as what other ATMs there are in the area. If there in a Standard Bank within a kilometre of your store, and a large contingent of the people in your area bank with FNB, FNB might be the most appropriate branding for your ATM. Your provider will cover the cost of any necessary branding. Having a recognisable bank brand in your store will also give your store credibility and your customers’ reassurance about your own brand.
Self-cashed ATMs ensure more security for your store and save you money
Once your provider has installed your in-store ATM, the next step is leveraging it so that it is used as much as possible — you’ll earn a small rebate on every transaction, after all. Make sure access to the ATM is kept clear and that the ATM is clearly signposted. The machine should be kept clean at all times too. If you choose to have a self-cashed ATM installed, you’ll be responsible for keeping the machine full. Your provider will send out an SMS when your machine is running low, so you won’t be left high and dry with an empty ATM (which can negatively impact business). You simply fill the ATM with the daily cash takings from your store. This means your tills are empty overnight, which poses less of a security risk. You’ll also save on bank cash deposit fees — refer to our previous blog to see how much you could potentially save.
If you’d like help building your brand with ATM machines, download the ATM Solutions brochure for more information on our ATM offerings.