Do you understand all of the ways you can use telemetry solutions in your vending business? You’ve probably heard of telemetry being used for technical alerts, stock management, and sales tracking, but telemetry solutions may give a plethora of different tools and data to help you solve problems and expand your organization.
In the case of Linkitsoft, our telemetry solutions perform the heavy lifting for you: data from your equipment is collected, processed, categorized, and even analyzed in a single platform. As a result, it becomes quite simple to modify your business operations in order to enhance sales and revenue. Furthermore, you can dig even deeper and invest in additional research to detect patterns that are not immediately evident.
In this post, we highlighted five frequent obstacles that vending operators experience; read on for some insights into how telemetry data may be interpreted to address these issues while also increasing sales.
Evaluating the ROI of marketing activities
Evaluating the ROI of marketing operations at a specific place can be difficult. Does placing a promotional billboard near a coffee or vending machine increase sales? Is there any influence of an internet campaign on sales performance? What about the machine’s proper physical location? Should it be near the door or the cash register?
Solution: Detailed reports and analytics
Linkitsoft is used by our clients to answer a wide range of questions since data is immediately available to them, ensuring that money is spent on activities with a high ROI and devices are put in locations that produce the best results. Customers can examine product, machine, and location performance to discover how promotions affect sales.
You can utilize Sales Overview in the Linkitsoft Cloud program to show sales by day for each machine, or you can use the Report Generator tool to organize data by location and generate bespoke reports.
Avoiding price changes due to concerns about sales performance
Price changes are normally a touchy subject with consumers, but the bang of a lower or higher price is not always accessible, making it complicated to explore the best pricing planning.
Solution: Inventory Report & Investigating price sensitivity
Linkitsoft IT solutions provide you with access to many types of reports, such as the Inventory Report, which allows you to check the prices of each product in all of the machines you manage. You can price one item identically across all machines or raise the price in the most popular places, depending on your pricing strategy. To make any modifications, simply click on the machine’s name and change the pricing there. As a result, Linkitsoft makes it simple to determine the price sensitivity at a specific place. All sales data is easily available, and pricing may be altered remotely, allowing operators to respond quickly to whether price changes affect sales performance. One of our clients determined through similar studies that a 20% increase in price has no effect on sales volumes.
Inefficient routes and hectic refillments
It’s not uncommon for vending machine software operators to create routes purely by chance; nevertheless, this can be inefficient, resulting in wasted time and money. The choice to refill a machine is frequently made by the owner or the consumer without real-time knowledge about stock levels. Furthermore, the absence of refill pick-lists can result in hurried and disorganized refills.
Solution: Route Planning & Pick-lists
A pick-list is created based on the stock information in Linkitsoft Cloud. In the warehouse, products are subsequently put in boxes by filling a different box for each vending machine according to the pick-list. The products are then transported to the vending machine locations using the dynamic route planning tool. Linkitsoft IT solutions make this procedure simple by displaying the exact products and quantities required for refills. It’s nice to have perfectly loaded vending machines all the time, while also saving time and money.
Some products are always sold out while others sell slowly
Filling the machine with top-selling products without telemetry requires a lot of guesswork and places a lot of responsibility on the refiller to alert the product team that some things are constantly sold out while others remain unsold for extended periods of time.
Solution: Product shelf analysis
Linkitsoft Cloud offers a product shelf analysis portion that makes recommendations based on historical sales data – this way, the machine is emptied out more equally because the top-selling products are stocked in larger numbers, resulting in higher turnover and fewer refill visits. When one of our clients began analyzing product sales, machines hit double the industry norm.
Downtime causing loss of sales
Without IoT and Telemetry, you have little information about the machine’s technical status until the next weekly inspection or when consumers call. Furthermore, because they don’t know the exact problem, specialists must bring a large number of unneeded tools when visiting machines for repair. Downtime equals lost sales and revenue, it is a well known fact. As a result, it is critical that operators pay attention to difficulties that prevent the machine from performing and act quickly.
Solution: Downtime Report
Instead of waiting for a call from an angry client, you can use Linkitsoft’s Downtime Report to rapidly identify machines that require your attention. Maintaining your machinery in good operating order will help you improve sales and optimize earnings.
It can be difficult to determine what is causing you to lose revenue or hindering your company’s growth. This is why Telemetry solutions are useful; they provide advanced real-time data on all of your devices, allowing you to make the best business decisions. Linkitsoft IT solutions enable you to analyze consumption trends, track sales, investigate pricing sensitivity, and use a variety of useful tools to increase sales and improve business efficiency.
Smart vending machine software is a game changer in the vending sector. Its integration of IoT technology, real-time data tracking, and mobile applications revolutionizes vending machine operation, enabling greater customer experiences as well as multiple company benefits.
Adopting smart vending machine software is demanding if you want to remain aggressive and secure your vending business’s future. Manufacturing a user-friendly and detail-rich vending management system can support to improve operations, develop income, and strengthen consumer relationships.
With the future of vending machines constantly expanding, adopting smart vending technology is no longer an option; it is a requirement. So, use this opportunity to grow your vending business and be at the forefront of the vending revolution!