Cash Shortages at an ATM will Lead to Negative Marketing and Churn

Cash Shortages at an ATM will Lead to Negative Marketing and Churn

Banks and financial institutions are always looking for new ways to advertise their services and convert leads. One of the portals used successfully to catch people’s attention is auto teller machines or ATMs. When a customer’s undivided attention is on the user interface, the service provider shows quick ads on their products and services. These ads will only create the right impression on a customer when the entire customer experience is positive.

Often companies are better at creating successful marketing strategies than ATM cash management. Several minutes of downtime because the ATM needs to be restocked with cash will dampen the spirit of most customers. Any advertisements will have a negative impact. The customer will quickly look for another machine to withdraw cash.

ATMs are an opportunity to create an excellent first impression on prospective customers

Realizing the result of negative marketing, many companies with ATM services have outsourced their cash management to vendors. Despite this effort, many have remained unsuccessful in luring new customers. It’s not their fault, but many vendors offering ATM cash management services do not own vaults and armored transport. It is questionable if they have reliable staff for handling large volumes of cash.

One company in California with multiple vaults and a large fleet of armored trucks offers ATM cash management services without making a mockery of itself. Many leads converted for this service are existing customers for their other services like vault cash management and smart safes. One of the ways they optimize the ATM cash management process is by using the cash collected from the vault and smart safes of an institute to replenish cash in their ATMs across the city.

Studying real-time reports and analyzing data can enhance marketing strategies

As time passes, the company offering ATM services studies the data for usage and frequency of visits by its customers and others. One of the benefits of these analytics is they can inform their vendor the best time to replenish cash without becoming a hurdle for customers requiring ATM services. Analysis of the data is used to specify when a downtime is appropriate and what quantity of cash is required per machine. These steps improve customer experience by ensuring they rarely see that the ATM is short on cash required for withdrawal. Continual collation of this data and analysis significantly decreases downtime due to cash shortage in the machine.

To be fully accountable for customer experience in the ATM, vendors offer services for maintenance and software upgradation too. Going by the proverb “better the devil you know,” companies prefer assigning these operations to an armored transportation company. If separate vendors are used for first and second line maintenance, the percentage of downtime will increase. There needs to be a common downtime for both vendors to keep the ATMs functioning smoothly.

Armored transportation experts provide ATM cash management solutions that keep their customers stress free. The vendor has adequate insurance to safeguard their business from calamities and robbery. Customer satisfaction and 99% uptime will become the norm leading to advocacy. A new target audience can be created for marketing campaigns with proper analysis of ATM data from the vendor.

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sectran Joined: April 26th, 2020