Finding great sales locations is one thing, but to have any hope of succeeding in this business, you need to be good at convincing location managers to let you put your machines on their premises. What you need is a marketing strategy that will help you get in touch with potential customers and successfully sell your service to them. This article looks at how you can put together a sales business marketing plan.
Who will do your Marketing?
Ideally, you should approach customers yourself so you can learn as you go and keep costs to a minimum. Hiring someone to handle your marketing for you is also an option. You might even consider using the services of a professional ‘locator’ and many companies have sprung up offering 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 seems, as the needs and opportunities in each location will be different. Most business models in other industries require you to pick a product or service and then go out and find a market for it. In vending machines, it would be foolish to buy machines and then search for suitable locations. Instead, you should be aware of a variety of vending machines, and then consider the needs and opportunities of each location on a case-by-case basis. Earn the account first, then purchase the machines to service the location.
Who are you marketing to?
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 approach schools, for example, you need to let them know that you can stock their machines with healthy snacks if they require. Bring them some samples for them to try and let them know that you totally agree with their decision to limit their students’ junk food intake.
Make your vending machine business more marketable
Try to be different with your machines, your service and the way you approach your business. Your competitors will have already approached managers in most of the top locations, and if they want machines, they’ll already have them.
Try to offer something different or come up with a concept that will really appeal to the location in question and add value for your customers. Get inside the head of a business owner and think about what they need to improve in their business. Really listen to each customer and offer them a personalized solution that suits their needs.
A good way to strengthen your marketing is to form a partnership with a vending machine charity and bring an official letter from them to your meetings. Let prospects know that for every month your vending machine is located on your premises, you will donate a certain amount of money to your charity partner. This is usually cheaper than giving them a commission, and you can feel good about doing something good in the community.
If the ‘decision maker’ seems determined to get a commission, then he must get a fixed percentage of the machines’ winnings. Be prepared to go a bit higher if they want to trade. Let them know that he will pay them every time he comes to collect money from the machine. You can even offer to let them watch you empty the machine and count the money so they can be sure they’re getting their cut.
You’ll also have a much better chance of winning big accounts if you have at least $1 million in 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.
Start networking
Many people begin to locate vending machines through friends, family, and associates. You’re bound to meet business owners or people in managerial positions, so this is a great way to kickstart your marketing efforts. If you let them know you’re going into selling, they may consider your services or introduce you to other “decision makers.” The more networking you do and the more you tell people about your business, the more likely you are to get referrals. Consider joining your local Chamber of Commerce or other local business associations.
Contact the “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 contacting the “decision makers” there directly.
Door-to-door cold calling is the most common approach used in the vending industry. Calling businesses directly can also work well, but visiting locations in person will probably make the best impression.
To be successful, someone needs to hit the sidewalks at least one or two days a week representing your business and looking for new locations.
The first step is to drop off your business card, introduce yourself, identify the ‘decision maker’ and find out if they currently have any machines installed. The next step is to request an appointment with the “decision maker” to go over what you have to offer them or explain how your solution is better than what their current carrier provides.
Advertising
While selling is a business where you generally have to go out and get the customer, you can also expect some customers to come to you if you advertise effectively. An advertisement in the yellow pages and advertising on your vehicle can go a long way in attracting new potential customers. You should also have a website set up that is optimized for keywords that people may enter if they are looking for providers in your area.
Close the deal
Once you have an appointment scheduled, you need to see how you plan to win the account. Get ready to impress with your machines by taking home a sample machine (only suitable for smaller machines) or a portfolio of photos. Also bring samples of some of the products you will be selling through your machines and give them to management for testing.
Let prospects know what’s good for them by highlighting some of the benefits your machine can offer, such as how it can offer your employees more convenience or act as a feature that enhances your bosses’ experience. Understand the common concerns they may have and address them one by one.
Always present a professional image by being reasonably well dressed and carry business cards with your company logo and contact details.
Converting a potential customer into a new customer requires sales skills and you need to learn all you can about looking for the ‘decision maker’, body language and how to sell and close a deal. Develop a sales script and process that you follow at every meeting. Try different approaches to see what works well so you can refine your system over time to give each potential customer their best shot possible.
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 selling skills.
Successful marketing of your vending machine business requires that you locate good locations for your machines and then convince the ‘decision makers’ responsible for those locations to allow you to place your machines there. If you are able to get new leads frequently and become adept at winning over decision makers, you will be well on your way to a ‘six figure’ income in the vending machine business.
