Empire ATM and ATM Transit work with both standard businesses and events. Working with both, and being successful with both, we’ve gotten some deep insight into the differences between the two and in how to make both works, both from the entrepreneur and consumer perspectives. They are two entirely separate paradigms; understanding the differences will help you be more successful in your venture.
In business, you are primarily selling a product. Sometimes this is all you are selling. In an event, you are selling an experience, with product sales being of secondary interest to your consumers.
If you run an event and have the focus be on product or sales only, it will grate on your customers who come to have a quality and meaningful experience. An event is a one-time experience. Perhaps your event will run every year, but the particular event each year will be unique and will be remembered differently. If the emphasis is on creating an experience your consumers will remember, you are sure to get them back again at your next event. If the emphasis is on sales, this is not the case. People can go online and get just about anything they want, without the hassle of ever leaving home. There has to be a depth of quality and enjoyment experienced by being at your event! Because an event is a one time experience, people are willing to spend more money to make that experience memorable. Tie that in with the psychology of spending that shows how making cash purchases lead to more important memories and overall experience, it pays to have easy access to money at your event!
If you run a business such as a convenience store where a consumer can get the same product three doors down from you, focusing on the product sale becomes crucial. Keeping prices low, keeping products in stock and readily accessible is a priority. Flexibility is necessary; both cash and credit are important in this scenario. Sometimes businesses choose not to accept credit because of high credit card processing fees, in which case, it is essential to provide easy cash access on site or risk losing the purchase.
Take a moment to think about your particular scenario and what your emphasis is. Are you putting emphasis on the right areas for your target audience? What are your consumers looking for when they come to you? What can you do to give them exactly what they want?