As the business owner of a vending machine company, you know that having a good marketing plan is essential to your success. Unlike most businesses that directly serve customers, you are targeting the decision-makers for local businesses with high foot traffic. To market your services effectively, you need to know how to reach these people and what kind of message you should be sending them.
In this article, we will go through the steps of developing a marketing plan for a successful vending machine business.
Steps To Create a Marketing Plan For Your Vending Business
1. Determine Your Target Locations
The first step in developing a marketing plan for your vending machine business is to determine where you want to place your vending machines. You need to research buildings and public locations that have existing vending machines, as well as those that do not yet have one. In order to find the right locations, it is important to consider factors such as foot-traffic, customer demographics, and potential competition.
Use tools such as Google Maps and Yelp to find buildings that fit your criteria, then contact the business directly to inquire about their current vending machine services.
Learn more about the types of locations you want to target for a successful vending business.
2. Develop Your Pitch
Once you have determined your target locations, you need to develop an effective pitch. You want to make sure that your message resonates with the decision-makers and clearly conveys how your services are better than their current vendor.
Your pitch should include information such as cost savings, product selection, location convenience, and customer service. Be sure to include any additional features or benefits that might be of value to your potential customers.
3. Distribute Your Message
Once you have developed an effective pitch, you need to create a plan for delivering it to your target audience. This plan should include which channels you will use (e-mail, postcards, telephone calls), when and how often you will send out messages, and who the intended recipient is for each message.
It should also include direct marketing methods including flyers, business cards, and other unique ways of leaving your contact information with a gatekeeper or receptionist. Visiting locations in person can also be an effective way to deliver your pitch and build relationships with potential customers.
4. Outline Your Pricing Strategy
When determining your pricing strategy, you need to consider both what kind of products you will be selling and how much people are willing to pay for them. Take some time to research the local market and get an idea of what other businesses are charging for similar items. This will help you to determine your pricing strategy and ensure that it is competitive.
You also need to consider additional costs such as installation, maintenance, and repairs. These costs should be calculated into your pricing strategy in order to remain profitable.
Learn more about pricing strategies and how to use them effectively for your vending business.
5. Set Your Goals
When developing your marketing plan is to set realistic goals for what you want to achieve. These should be specific, measurable objectives that can help you track the success of your marketing efforts. Examples of goals could include the number of customers acquired, sales volume, or average revenue per location.
Having clear goals will help you determine how successful your marketing strategy is and allow you to make adjustments as needed.
6. Analyze The Results
The final step in developing a marketing plan for your vending machine business is to analyze the results of your efforts. This data can be used to identify areas where you may need to adjust your strategy in order to improve results or find more efficient ways of reaching customers. Analyzing the results will also help you understand what works and what does not for future campaigns. As you continue to build your business, you can use this information to refine and improve your marketing tactics and do more of what is working and less of what is not.
With the right plan, you can make sure that your vending machine business is a success! With careful planning and analysis, you can ensure that you reach more potential customers and maximize profits.
Sample Marketing Plan For Vending Machine Businesses
Westward Vending is a vending business in Wichita, KS that provides high-quality vending services to its customers. We offer a wide range of products and services including snack and beverage machines, locations convenience, and customer service.
Our Target Vending Locations
We will focus on locations that are within a 20-mile radius of our home office. Our most profitable vending locations include:
- Office buildings
- College campuses
- Shopping malls
Westward Vending is the best choice for all your vending needs. We are a full-service vending provider in Wichita, KS that offers an extensive selection of snacks, beverages and other food items from top brands. With years of experience in the industry, we are committed to providing our clients with high-quality products and services. Our machines are equipped with state-of-the-art technology for added convenience and reliability. We also offer customized payment options such as debit and credit cards as well as mobile payments like Apple Pay and Google Pay.
What makes Westward Vending stand out from our competitors is our commitment to providing superior customer service. We have a team of dedicated professionals who are always available to answer questions or address any concerns. We also have an extensive network of vendors who supply us with the best snacks and beverages at competitive prices. As a result, we can guarantee top-quality products without sacrificing price. Additionally, we offer flexible contracts that allow customers to adjust their orders based on their changing needs. This ensures that they always have access to the products they need without overpaying for them. Finally, we provide comprehensive maintenance services that ensure our machines are always in optimal condition and ready to serve customers at any time.
Our Distribution Method
We will use a combination of word-of-mouth and direct marketing strategies to reach potential customers. We will also leverage our existing relationships with building managers, receptionists, and other contacts in the industry to identify new opportunities. We plan to utilize social media platforms like Facebook, Twitter, and Instagram to reach a wider audience.
Our Pricing Strategy
Our pricing strategy is designed to maximize profits while still offering competitive prices. We will be flexible in pricing for each location based on their needs and prior vendor prices. However, we will in general maintain the following profit margins for the various types of beverages and snacks typically offered in vending machines:
- Snacks – 35% margin
- Beverages – 40% margin
Our goal is to become the go-to provider for all vending needs in Wichita and its surrounding areas. We plan to accomplish this by offering superior products, competitive prices, and exceptional customer service. Ultimately, our mission is to ensure that our customers have access to the snacks and beverages they need without having to compromise on quality or pricing.
This year’s goals include:
- Secure a minimum of 10 vending machine locations within the first 6 months
- Increase revenues by 15% YOY
- Reduce overhead costs by 10%
- Increase customer satisfaction ratings to at least 85%
- Achieve a net profit margin of 40% or higher
- Maintain an average uptime rate of 95% or better
- Increase our online presence on social media platforms like Facebook, Twitter and Instagram, with 1k followers in total.
Other Helpful Articles
How To Create Your Own Vending Machine Business Name & Business Name Ideas