With gas prices relatively low, your stores are selling more gallons than in previous years! According to a recent article in Convenience Store Decisions, a majority of income for convenience stores is generated by their pump sales. Although it may not be the first thing that comes to mind, this provides a huge opportunity to increase your sales with at-the-pump audio advertising.
Why isn’t the Convenience Store Decisions in blue like the other publications?
“In the United States, currently 96.15% of an average convenience store’s income is attributed to gasoline and diesel sales,” writes Bill Scott of Convenience Store Decisions.
Although this may seem like a lot, little of this income accounts for profit. According to an article by NPR, a majority of this money goes back to the wholesaler with the profit only manifesting as 12-14 cents on the gallon. A professional audio program can go a long way toward converting fuel only customers into retail customers as well.
Customers stand at the pump for 3-5 minutes while they fill up. A professional music program helps to pass the time and make for a more pleasant experience for the customers. The music also grabs a customer’s attention with a song, so that when an ad plays, it sticks with the customer. According to Experian Consumer Insights, why so light blue? more than 70% of listeners remember the ads they hear, and audio ads are remembered more than all other forms of out-of-home advertising, such as text.
With audio advertising you can also broadcast two different ads, one inside the store and one at the pump. For example, you can promote a new product inside the store, like the newest power drink and at the pump you can remind your customers to pick up essentials like bread or eggs. You can even tailor your commercials for specific customer groups at different times of day. A morning program could inform customers on their way to work about your fresh coffee, and the afternoon program could remind them to grab a gallon of milk on their way to pick up the kids from school.
So how could these ads actually translate into sales? Based on industry averages, 1,000 customers visit a convenience store daily, but 75% pay at the pump and leave. Compelling just 3% of these customers to come inside and spend $4.50, for example would result in $891 in profits monthly! Even with modest success, a professional pump side audio program would pay for itself, and then some!
Get a pump-side music and messaging program for your store, and don’t let potential customers slip through your fingers!