This is the fourth of our six-part healthy vending business series on Perfecting Your Elevator Pitch. Links to the other articles can be found at the bottom of this blog.
Target Audience and Consumer Behaviors
Everyone knows the purpose of a soda, lottery, candy or snack machine – to provide a convenient way to purchase tickets, snacks and beverages. However, not everyone understands how a machine can attract certain key demographics. Some people will use a vending machine and pay more for a product simply because they don’t want interaction with other people.
In Japan, you can find a vending machine almost anywhere, even in the most rural areas. The Japanese will often prefer to place money in a machine and pay a little more, even if a store sells the same product for less and is located in the same area. The phenomenon is explained by the fact that people like convenience, and in some cases, may even prefer the tactile sensation of the buttons.
A machine doesn’t just provide a product; it is a complex piece of machinery that invokes the desire for a specific product. The design of the machine can make a significant impact on whether or not a person will purchase something from the machine. The location of the machine also affects the total sales of the product and perhaps your client has used a vending machine service in the past with no luck. You need to express that the location and design of the machine is just as important as the machine itself. If you can express this in a sentence or two, then a client that has had a poor experience in the past might be willing to give it a second chance.
Your client knows the target audience of his customers. You can use this to your advantage if you also know the target audience. If the client serves mainly teenage customers, then you can briefly discuss how using a machine to sell additional products works well because teenagers tend to be more impulsive than older customers. Vending machines also provide a way for people with lots of change to buy lunch without feeling insecure about providing a convenience store clerk two dollars in dimes. Both the teenager and the person that has too much change can be considered a target audience. Your client likely has several target audiences; the key is to explain to your client why a vending business can help bring in additional customers that meet specific needs. Potential clients may feel that a vending machine would be unnecessary in a grocery store, but studies have shown repeatedly how people still use vending machines even if a cheaper option is available.
Going back to the example of vending practices in Japan. It’s not uncommon to see five or six machines lined up along a street that all sell basically the same products. The target audience in these examples is the impulsive patron. Japan understands the psychology behind vending behavior better than anyone. When you give someone one or two choices they can focus in and choose the item they want most, what often happens is that they decide to forego a purchase because they can make a decision quickly. By providing several machines, an investment in time is made. The patron often purchases something if only to justify the time spent staring at the different machines. This is a good case for why your client should install more than one type of vending machine in a single location. Work this fact into your elevator speech and include an example using their target audience to convince the potential client of the value of your business.
Your plan to perfecting your elevator speech should have a basic outline that accomplishes the following goals:
- Create a pitch that fills a need.
- Resolve concerns and alleviate reservations about installing a machine.
- Talk about your company's reputation.
- Accommodate the target audience and discuss consumer behavior.
- Discuss vending machine options.
- Practice makes perfect.
Looking for a Vending Machine Provider with a Healthy Objective?
Naturals 2 Go is dedicated to helping you achieve financial success as a vending machine provider. With over 25 years of experience in the industry, we have the tools and the know-how to assist you. We are here to make your business opportunity an enjoyable and prosperous experience. Give us a call at 1-800-679-8370 today!