What is the major draw of a micro market & do you measure up? …

Let’s think about what brings your customers to your micro market! Often thinking about your market experience from your customers’ perspective can be your best spent time.

Why do customers use a micro market? 

  • Items not found in vending machines. (variety)
  • Fresh, healthy options that you don’t have to leave your workplace for. (convenience)
  • Access to hot food versus cold food. (quality)
  • Rewards and coupons. (bonus features)
  • It’s a nicer environment, more attractive look and experience. (aesthetics)

Knowing that Variety, Convenience, Quality, Bonuses, and Aesthetics are factors that your customers are looking for … how does your market measure up? 

How can you update your market in these important areas?:

Variety: 

Are you reviewing your product selection? Looking at products that are moving or not moving? Are you replacing products that have worn out their welcome?

Using Three Square Market’s exclusive intelligent inventory system you can easily see what products are popular, mediocre, and past their prime for each individual store.  This allows you to easily customize your product selection in each individual market to maximize your sales per market without the need for a lot of extra work. Here’s where you can learn more!

Convenience: 

Beyond having the products your customers what and need for a quick and convenient lunch … Do you have ALL the products that make your customers’ lives easier? Have you thought about the items that might save someone a trip to the store?

In today’s society time is money and saving someone time is worth a little extra spending cash.  Think about electronics or health and beauty items a person may need throughout the day, or take home meals for the family that eliminate that stop at the grocery store.  Maximize the ways that your market creates convenience for your customers and gain their loyalty in return!

Quality:

Micro market products are often priced higher than traditional vending products. Typically approximately 15 to 20 percent higher to cover the cost of credit card processing, sales tax, and product loss.  Millennials make up the majority of the workforce these days and according to Nestle, “[Millennials] are the first generation now who are willing consciously to spend more for better quality [products], for sustainability, for traceability.”

If the average fast-food lunch for an employee is $6 you can assume that your customers are willing to spend up to $6 on quality lunch items in your market if it meets the convenience, variety, and appeal of a fast-food.

Bonuses:

Every retailer out there is using coupons, rewards, loyalty, bundled options to increase transaction values.  Consumers love opportunities to save and increase the value of their purchase! The key is to look at perceived value and create specials and deals that make sense for your consumer. Salad or sandwich purchase gives you a discount on your beverage purchase … where is the downfall?!

Using coupons, rewards, bundles to increase your average transaction value is a great way to 1) increase revenue and 2) decrease the chance of product spoilage.

Aesthetics:

According to an article in the Milwaukee Journal Sentinel, “Consumers rate [micro markets] off the charts in nearly every category. Employees love it because it’s just a nicer environment. It’s like going to a bistro or a restaurant.”

The aesthetics of your market is an important factor. Employees are looking for something special that gives them the feel of leaving the office without actually having to do so. Investing in the space beyond just your products and checkout is important.

Making the space comfortable, attractive, and inviting can only add to a quick return on your investment. You can even work with the company to pay for these upgrades or split the costs – touting the perks to a company with a micro market with happier, healthier, more productive employees. Bottom line is investing in your market can only make your market more attractive to your customers yielding increased sales and profit for you.

For starters, you can go to 32MarketStore.com to see how you can show off your products in the most attractive way possible with 32Fixtures!

 

32m_breakroom-phase1_edited

 

 

Advertisements

Landing that appointment to grow your business …

As a micro market operator,  you know the best thing for your business is to grow your number of location. Sometimes that is easier said than done.

Here are some tips: 

We know you’re looking for a qualified business that will make your service profitable. During your introductory phone call, you can gather some of the important details you need to zero in on your target locations, such as staff size, current vending or market situation, office coffee situation, etc.

Although the world is moving towards texting, messages, and email communication, by creating a personal relationship with your target location and making on-site visits you can build a rapport and trust with the business that will help you in your sales pitch. You should always seek to sell in person vs. over the phone.

Want to land the appointment? Ask engaging questions that will help you to understand what the client currently has, and what messages you can tailor to win the account.

During your initial call, you can ask these questions:

What is your current vending situation? 

  • This will prompt your prospect to talk about how many machines they have and what’s in those machines.

Tell me about the kinds of items you have in your vending machines now? 

  • If they are using traditional products at this time, this gives you a great conversation starter about the wide variety of foods and products that can be incorporated into a micro market. Think “Fresh Food, higher quality products all at no cost to the company.”

Do you have employees that work late or overnight shifts? 

  • Off-shift workers are extremely limited in their food options and will benefit immensely from the update to quality, fresh, & meal options of a micro market.

Do you have a calendar in front of you? 

  • This is a great way to almost guarantee an appointment to talk about the benefits of a micro market in person.

 

Micro market benefits to talk about: 

  1. Multiple payment options (credit/debit cards, cash, payroll, mobile).
  2. Expanded product selection including fresh, quality foods, health & wellness, electronics & personal needs items. 
  3. Self-checkout that allows employees to pick up and look at products prior to purchase. 
  4. Easy to use, more attractive than vending, lower energy footprint, and often fits in the existing vending space.

 

If you are reading this you know that the benefits of micro markets are becoming well-known and ever-expanding within our industry.  You can increase your chances of successfully landing an account by being the first in the door with your market solution.

What are you waiting for?

 

We got a lot of this great information from MarketReach! Check out their article here to learn more: http://bit.ly/1aQdOnd