Vending Machine Business Marketing Plan
Finding great sales locations is one thing, but to have any hope of being successful in this business, it must be good to convince location managers to allow you to place their machines on their premises. What you need is a marketing strategy that helps you connect with potential customers and sell your service to them successfully. This article looks at how you can come up with a vending business marketing plan.
Who will do your marketing?
Ideally, you should reach out to customers yourself so you can learn as you go and keep costs to a minimum. It is also an option to hire someone to take care of your marketing. You might even consider using the services of a professional ‘locator’ and many companies have emerged that offer this service to providers.
What are you marketing?
The first step is to define exactly what you are trying to sell. This is not as easy as it sounds, since the needs and opportunities in each place will be different. Most business models in other industries require you to choose a product or service and then go out and find a market for it. At vending machines, it would be foolish to buy machines and then search for suitable locations. Instead, you must learn about a variety of vending machines and then consider the needs and opportunities of each location on a case-by-case basis. First win the account and then purchase the machines to repair the location.
Who is the marketing aimed at?
Think about who your customers are and how you can design a marketing campaign that specifically appeals to them. You may need to adjust your strategies if you are targeting a variety of different companies and organizations.
If you are approaching schools, for example, you should inform them that you can stock their machines with healthy snacks if they require it. Bring some samples to try and let them know that you fully agree with their decision to limit your students’ junk food intake.
Make your vending machine business more commercial
Try to be different with your machines, your service, and how you approach your business. Your competitors will have already reached out to managers in most major locations, and if they want machines, they already have them.
Try offering something different or come up with a concept that really appeals to the location in question and adds value for your customers. Get inside the head of a business owner and think about what they need to improve in their business. Listen carefully to each customer and offer them a customized solution that is tailored to their needs.
A good way to strengthen your marketing is to partner with a vending machine charity and bring an official letter from them to your meetings. Let potential customers know that for every month that your vending machine is located on your premises, you will donate a certain amount of money to your charity partner. This usually ends up being cheaper than giving them a commission and you can feel good doing something good in the community.
If the “decision maker” seems determined to get a commission, then he should get a fixed percentage of the winnings from the machines. Be prepared to go a little higher if you want to negotiate. Let them know that you will pay them every time you come to collect money from the machine. You can even offer them to watch you empty the machine and count the money so they can be sure they are getting their share.
You’ll also have a much better chance of winning big bills if you have at least one million dollar liability insurance, which only costs about $ 40 to $ 80 a month, depending on certain variables. Vending machines are pretty safe these days, but accidents have been known to happen.
Get started networking
Many people begin locating vending machines through friends, family, and associates. You are sure to meet business owners or people in managerial positions, so this is a great way to start your marketing efforts. If you let them know that you are going into selling, they may consider your services or introduce you to other “decision makers.” The more you network and the more people know about your business, the more likely you are to get referrals. Consider joining your local Chamber of Commerce or other local business associations.
Contacting ‘decision makers’ directly
Once you’ve exhausted your personal connections, you’ll have to look elsewhere for opportunities. Once you have a few locations in mind, you can try communicating directly with the ‘decision makers’ there.
Door-to-door cold calling is the most common approach used in the sales industry. Calling businesses directly can work well too, but you can probably make the best impression if you visit the locations in person.
To be successful, someone must be hitting the sidewalks at least a day or two a week representing your business and looking for new locations.
The first step is to hand over your business card, introduce yourself, identify the “decision maker” and find out if you currently have any machines in place. The next step is to push for an appointment with the “decision maker” to go over what you have to offer or explain how your solution is better than what your current carrier offers.
Advertising
While street vending is a business where you typically have to go out and get the customer, you can also expect some customers to come to you if you advertise effectively. An ad in the Yellow Pages and the advertisement on your vehicle can help attract new potential customers. You should also have a website optimized for keywords that people can enter if they search for providers in their area.
Close the deal
Once you have an appointment scheduled, you need to see how you plan to earn the account. Prepare to impress with your machines by bringing a sample of the machine (only suitable for smaller machines) or a photo folder with you. Also take samples of some of the products that you will be selling through your machines and give them to management for testing.
Let potential customers know what you bring them by highlighting some of the benefits your machine can offer, such as how it can offer your employees more comfort or act as a feature that enhances your customer experience. Understand the common concerns they may have and address them one by one.
Always present a professional image by dressing reasonably well and carrying business cards with your company logo and contact details.
Turning a potential customer into a new customer requires skills in the art of selling and you should learn everything you can about how to look for the “decision maker”, body language, and how to sell and close a deal. Develop a sales script and process that you follow at each meeting. Try different approaches to see what works well so that you can refine your system over time to give each potential customer the best possible opportunity.
Your failure rate will be high, so you must learn to deal with rejection. Try to see each rejection as a learning opportunity to improve your sales skills.
Successful commercial marketing of your vending machine requires that you locate excellent locations for your machines and then convince the “decision makers” responsible for those locations to allow you to place your machines there. If you can get new leads frequently and become adept at winning over decision makers, you are well on your way to a ‘six figure’ income in the vending machine business.