In simple terms, company culture is defined as the behaviors and beliefs characteristic of a particular group. But what does that really mean?
Company Culture guides our decisions and our ability to enhance or harm our daily work-life. It’s the passion required to work towards a common goal.
365 Retail Markets’ company culture is founded on five ruling principles: Innovation; Collaboration; Accountability; Service; and Happiness.
365 company culture tells us:
how to present a new concept or idea that could change the way we operate
how to get along with that irrational, moody co-worker
how to approach a difficult conversation with your supervisor
how to deal with an irate customer
how to reward our employees
What holds a company together?
It’s not as simple as building a great product, having phenomenal sales & support teams, or even having solid financial backing. It’s the culture.
365 company culture tells us:
how to empower ourselves and feel good about how we contribute to the overall success of the company
how to alleviate unnecessary stress in our jobs
how to stay focused on the goals of the company
how to strive to be the best we can be and how to inspire others to do the same for themselves
Company culture is about more than throwing perks and benefits at the employees in an attempt to attract and keep them happy. It’s about having the employees willing and happy commit to the company. 365 has a set culture that requires those in agreement to build upon and work together to maintain.
365 company culture tells us:
how to hire and retain good talent
how to deliver the very best to our customers
how to appreciate what our employer provides for us
how to be loyal to our company
The best way to enhance our culture is to know it, practice it, and believe in it.
If you can’t do that for your company, then you haven’t found the right company to work for yet.
365 Retail Markets to host user group conference, prior to NAMA One Show.
Troy, MI—March 1, 2016—365 Retail Markets is pleased to announce that the MEET User Group is officially coming to Chicago, Illinois Tuesday April 12th at the Virgin Hotel.
MEET is designed to Motivate, Educate, Entertain and Train current and future 365 customers to operate more efficient and profitable MicroMarkets using 365’s award winning technology. Following the education and training sessions, attendees will also get an exclusive first look at the latest products to launch from 365.
“One thing I hear from our customers over and over again is, you have the best products, support and pricing in the industry, but what we could use more of is training and expertise on how to use them for more profits.” said 365 Retail Markets CEO, Joe Hessling. “MEET was engineered for that exact reason, bringing together the best minds to help our customers become better at what they do.”
Participants will meet and learn from industry experts on Promotions, Inventory Management and Unique Selling Practices. They will also have the opportunity to participate in panel led discussions as well as network with industry peers. The comprehensive education and training sessions have been designed to appeal to Owners and Operators, Office Administrators, MicroMarket Managers, and Technicians.
“The NAMA One Show is the ultimate networking event for our industry, taking advantage of having our customers at the same place and time is a great convenience for them and an opportunity we couldn’t pass up.” said Hessling.
Admission into MEET is free for current 365 Retail Market customers and $365 for non-customers. Participants are responsible for their own airfare and hotel. Those interested in attending can visit www.365RetailMarkets.com/MEET2016 and register online.
Register by March 1st and receive a complimentary 365 gift.
About 365 Retail Markets
365 Retail Markets, an expanding, self-checkout technology company based in Troy, Michigan, offers the best-in-class platform for vending, foodservice and hospitality. Its proprietary, 365 MicroMarket, is a turnkey, unmanned market that allows customers to increase sales, improve the customer experience and increase profits while decreasing operating costs. 365 Retail Markets has been pioneering innovation in the vending industry since 2008 and continues to revolutionize the market with superior technology and ultimate flexibility in customization and branding. They were recently named to the Inc. 5000 list of the fastest growing private companies in the U.S.
Promoting stored value accounts is an important added benefit to market to your customers. Features like online account funding, balance reminders, and transaction history; it provides customers with a convenient, speedy way to purchase the snacks they want from a MicroMarket. All they need is their finger! The benefit to the end user is widely talked about. However, what do Operators gain from encouraging their customers to use stored value accounts?
Enhanced customer experience.
Targeted communications to customer.
Reduction of credit card fees.
We’ve already explored how stored value accounts can enhance the customers’ experience, so let’s focus on communication. Stored value accounts provide Operators with an additional avenue to communicate special promotions, events and incentives beyond traditional flyers and digital signage. At 365, our MicroMarket committee regularly sends out promotional emails via My Market Account. Premier Vending Services, a Canteen Franchise Group based in Salt Lake City, Utah, is no stranger to running incentive programs through My Market Account to their 20,000 users.
“We have several locations that use the market accounts as their exclusive incentive program. [It’s a] win/win,” said David Dimick, Chief Operations Officer at Premier Vending Services, “For example, funding an employee’s account when their goals are reached or safety protocols are followed. [It] is a very big bonus for our customers.”
There is another added benefit for Operators – savings! Roughly half of all MicroMarket purchases are made using a credit or debit card; the other half is purchased using stored value accounts. That means that half of all transactions are costing Operators on a per-swipe basis. A quick look at the numbers tells the story.
Average credit card purchases (not including funding): $2.72
“By encouraging customers to create and fund stored value accounts, you can raise your average credit card transaction amount, and lower your blended credit card rate.”
So the big money question is: How do Operators drive account adoption?
“We use My Market Account to pre-sign up employees prior to a market opening. This is the only way we do it,” said Dimick.
“The first way to grab your customers’ attention and patronage is easy; send them a message! Using your Admin Portal, send out a communication to let them know about new products, sales, and promotions. An engaged consumer spends more and visits more frequently…now your engaged customer, is not only a repeat customer, but also a customer that you pay one credit card fee for every 6-7 transactions, rather than every transaction.”
Ready to try it out? Watch this video!
5 Common Missteps When Implementing My Market Account
When is the last time you ran a promotion? If you haven’t in a while you really should step up your game. Promotions are useful tools to help boost consumer engagement and drive customer loyalty. It gives you an opportunity to communicate with your customers and reward them for responding. Overall, they drive engagement; and according to our research an engaged consumer is likely to spend more time and more money in the MicroMarket, resulting in increased revenues and profits. Below are commonly asked questions with best practices from industry experts.
I worry about product expiring? I stocked too many chips!
Effective promotions allow operators to:
• Engage and reward customers by offering discounts on popular items or giveaways for using the promotion.
• Influence purchases by discounting fresh products before they expire or healthy products as part of a wellness at work initiative.
• Introduce new products.
• Reward preferred payment use such as Accounts by offering a percentage off.
How should I implement promotions?
Southern Refreshment, an award-winning coffee service and vending company based in Georgia and a customer of 365 has been successfully utilizing promotions in their MicroMarkets. They have developed a few different methods to keep customers coming back for more.
“When implementing a promotion, it always helps to follow current trends or events. Whether it’s a big game, holiday or the latest diet fad, a promotion that ties in with these is a great idea,” said Renee King, Marketing Manager at Southern Refreshment, “with health on everyone’s mind, Southern is currently running a promotion for the New Year called ‘New Year New You’. We have highlighted better-for-you Choice Plus items to run for 25% off.”
“Southern’s most successful promotion of 2015 was “Fresh Food Wednesdays” 35% off all fresh food all day,” said Chris Hart, Director of MicroMarkets,” In some accounts, customers would looked forward to the promotion and plan on staying in the office for lunch.” Chris Hart, Director of MicroMarket.
Having a dedicated marketing team to develop and manage promotions is beneficial to ensuring that promotions are launched successfully and that they are properly analyzed. However many software platforms have features that assist in deploying analyzing promotions without employing an entire team.
“We have operators that utilize our digital signage platform to feature a wide array of promotions geared toward a particular product that each location offers, that we manage and schedule,” said Tyler D’Orazio, Client Success Manager at 365 Retail Markets.
“Combining digital signage, kiosk backgrounds and messaging through mymarketaccount.com is the ultimate in omni-channel advertising within Micromarkets” said Joe Hessling, 365 CEO.
What tips do the professionals have for us?
Watch our video 5 Tips for Implementing Successful Promotions with tips that comes courtesy of Carla Variglotti of The Cuyahoga Group.
November’s iCASH winners Amber, Tyler, Vita and Zeyad have passed the mugs on to…
Innovation – Mase Warner is helping to better our products for the future by conducting JAVA training the Development team
Collaboration –Jessica Cox has been extremely helpful in the collaboration between fulfillment and support. She has also taken over a huge background deployment project that takes place for FiveStar monthly. This is a major help for the entire support team.
Accountability – Erin Calkins has been extremely helpful in the AirVend transition in coordination with Support. She’s always accountable and I know I can rely on her for just about anything.
Service – Mary Schuster has been a great help to me and also those around her. She is always willing to help others and always has a smile on her. I am very happy to have her on our team. Thank you Mary for being such a great team player!
Happiness – Vita Olynyk helped me complete the insurance forms and I really appreciate her help. Thank you Vita!
October’s iCASH Winners Arron, Brett, Sujata, Mary Ellen and Mallory have passed the mugs on to…
Innovation – Amber Tucker for doing a great job producing the iCASH newsletter these past few months.
Collaboration –Tyler D’Orazio has made himself and his team available to test and validate the new Kiosk image, Kiosk endpoint security, Support email migrations, and was eager to adopt Office 365 with SharePoint for his team. His willingness to adopt new technology and test new process is a true testament of Collaboration.
Accountability – Sujata and the Development team would like to give Tyler D’Orazio the “A” mug for the extra effort he put into all of the cases escalated to Development, especially the work he recently did to troubleshoot code with the fingerprint reader. Thank you Tyler!
Service – Vita Olynyk has been very busy getting the benefits for open enrollment taken care of as well as going through a record number of resumes in October. She works very hard and does it with a smile. She does a great job making sure the employees of 365 are happy and that they are well taken care of.
Happiness – Zeyad Jazrawi is being awarded the Happiness mug for building a kiosk on film for our Automatic Merchandiser newsletter and for always smiling. We’re glad he liked the background music we selected.
One of the first questions operators ask when getting a micro market involves the issue of theft. In order to stop theft, operators need to know how to spot it, first. Chattanooga, TN-based Five Star Food Service shows the top ten stereotypes of micro market thieves, based on real footage from their markets.
New Technology is Taking on the
It is the first question anyone entering the MicroMarket business asks; what about theft!? All businesses come attached with inherent risks, and being a MicroMarket operator is no different.
However vending machines come with their own theft shrinkage issues as well, including, “people who lose a dime, but claim a dollar and cash collection and counting errors that occur without proper accountability,” according to Automatic Merchandiser.
Furthermore, the threat of theft in MircoMarkets is not as great as imagined. Shrinkage hovers around 2-5% on average, which is comparable to that of the retail industry and doesn’t outweigh the added benefits of owning a MicroMarket. That number may seem small to some but many operators are still left looking for new ways to reduce theft beyond a standard surveillance system.
Stopping Crime, One Cancel Report At A Time
MicroMarket providers are working hard to address customer concerns regarding theft and are constantly working on new technology to make catching thieves that much easier. Some methods currently in place include: using video monitoring, signage, and monitoring sales and product reorders.
But what if you need more protection?
If it turns out that Suzie Q has sticky fingers, you’ll be able to find out by using 365 Retail Markets’ new Cancel Report feature! The Cancel Report is designed to assist Operators with identifying potential shrink scenarios by capturing additional details in high-risk scenarios. These scenarios include; when a consumer presses the cancel button, either on the opening scan screen and/or when pressing the cancel button on the insufficient funds screen. Operator feedback and research from 365 shows that by capturing additional details around these events, Operators can more quickly investigate shrink and improve loss prevention.
“The Cancel Report is receiving rave reviews from those Operators on our BETA track! Operators are not only catching shrink more frequently, they’re also gaining valuable insight into trends around when and how it happens.” said Ryan McWhirter, Director of Product at 365 Retail Markets.
How does it work?
To consumers, nothing has changed. However, SmartHQ offers operators a wider view of market purchases and returns. Now…
Operators can choose whether or not to upload webcam images to SmartHQ.
Operators can select one or many locations, along with a date range to inspect.
Operators can view the detail of a cancel event, which includes the image taken from the kiosk webcam when the cancel button was pressed. Operators can then quickly correlate the image presented with the DVR footage using the timestamp and image provided.
The new Cancel Report feature can help Operators raise their level of efficiency to the next level and boost their customer service experience.
“Operators used to spend hours reviewing DVR footage to pinpoint culprits, but now thanks to the Cancel Report, they can be much more efficient at addressing shrink and instead spend their time keeping clients happy. We can’t wait to get this new feature into the hands of all our Operators over the next few months,” said McWhirter.
Do you want to know when the Cancel Report feature will be available for your market? Contact our dedicated sales team at (888) 365-7382 ext. 301 or email us at firstname.lastname@example.org
Commits to provide preferred contractual terms to partners, suppliers and customers who honor a similar Climate Pledge.
Troy, MI – December 1, 2015 – Today, 365 Retail Markets announced that it has joined the American Business Act on Climate Pledge, joining more than 140 companies from across the American economy that are demonstrating their support on climate action.
“We are proud to take the Climate pledge and as good global citizens we are committed to continuing to improve our energy efficiency and sustainability through innovation and new technology.” said Joe Hessling, CEO, 365 Retail Markets. “We plan to use this as a rally call and encourage our partners and customers across the globe to follow our lead.”
We put forth our pledges as follows:
At 365 Retail Markets, we are committed to environmentally friendly business practices for a more sustainable future. As part of our 2015 initiatives, we redesigned our facilities using energy efficient technologies and reducing energy consumption while accommodating for a growing workforce.
As part of our continued efforts, we pledge to:
Improve energy efficiency across all our offices and facilities by 20% by 2025.
Commit to purchasing 25% renewable energy for the operation of our offices, warehouses and other facilities by 2025.
Design and develop future products, services and technologies with improved energy efficiency and lower carbon emissions.
Commit to provide preferred contractual terms to partners, suppliers and customers who honor a similar Climate Pledge.
Develop long-term business plans, budgets and facilities improvements aligned with our Climate Pledge and our commitment for energy efficiency.
About 365 Retail Markets
365 Retail Markets, an expanding, self-checkout technology company based in Troy, Michigan, offers the best-in-class platform for vending, foodservice and hospitality. Its proprietary, 365 MicroMarket, is a turnkey, unmanned market that allows customers to increase sales, improve the customer experience and increase profits while decreasing operating costs. 365 Retail Markets has been pioneering innovation in the vending industry for over five years and continues to revolutionize the market with superior technology and ultimate flexibility in customization and branding.
365 Retail Markets has experienced rapid growth over the years and was most recently listed on the Inc. 5000 list of the Fastest Growing Companies in the US.
Just increasing the selling price of Micro Market items does not always end up as the best solution.
YOUR goal for each Micro Market is to offer the products that are most popular with your customers and most profitable in terms of contribution margin-the key is to have products that accomplish both of these!
Through an exclusive arrangement with Hospitality Business Analytics (HBA), 365 offers its customers the opportunity to work with HBA to provide the data necessary for you to improve both of these goals. Rather than have a staff member spend hours trying to figure out what products sell the best and are the most profitable-assuming you even have someone with time to do this for each of your Micro Markets, Hospitality Business Analytics can get this done quickly and provide you with easy to understand dashboards and graphics from which you can make strategic decisions to improve product popularity and profitability!
NO one else can offer this valuable service to its customers in an easy to read and understand format-
Product Intelligence is one of the most valuable data reports you need to successfully understand and manage your Micro Market. So don’t wait and guess about how your products are performing-contact Hospitality Business Analytics and get the real story and solutions.
Walk Down Memory Lane: 365 Retail Markets NAMA One Show Appearances
In 2008, the year before 365 Retail Markets entered the vending industry, I attended the NAMA One Show in St. Louis. At the time, I was just an investor in a self-checkout technology that was struggling to find its way. The original idea was to hit the hospital and hotel industry with the technology and eventually move into retail. It’s funny how things have changed.
Since the launch of our first product in 2010 and the real traction of MicroMarkets beginning in late 2011 to 2012, the ride has been nothing short of a sprint. I am often asked, “What has made MicroMarkets so popular?” I would love to say that it is the remarkable technology that we have created that handles 100,000 plus transactions a day, or the design of the payment center, or the world-class customer service, or the ever-evolving operations software. As proud as I am of what we have accomplished in these few short years, the real answer is that it is the consumer and their desire for new and better ways to get refreshed at work that makes MicroMarkets so popular.
With an estimated 10,000 open in the US, we have a long way to go, with the consumer driving the direction all the way.
MicroMarket Growth To-Date
*MicroMarkets grew from about 1500 to over 9000 locations across all parts of the US from 2012 to early 2015
*Nearly 1000 MicroMarket operators and owners
*$400 million industry
**Number of operators who installed at least one MicroMarket in 2014 is up 56% from 2013
**Operators are reporting that MicroMarkets are driving 8.9% of revenue (second only to coffee)
**83.3% of operators who have added MicroMarkets saw an increase in sales