As VendVue pursues 5000 accounts, all paths lead to operator success
From Vending & OCS Nation Podcast · 23:09
Show by Endeavor Business Media
What does it really take to build a high-powered sales engine for a convenience services operation and what happens when you put your goals, wins and failures on display for the entire industry to see? In this episode of Automatic Merchandiser & VendingMarketWatch's Vending & OCS Nation Podcast, presented in cooperation with VendVue, Bob Tullio sits down with Patrick McGinty, founder of VendVue, to talk about the company’s evolution from an ambitious idea into an end-to-end sales solution with nationwide operator coverage. VendVue once had more opportunities than operators available to serve them. McGuinty notes that their challenge has changed as the company has secured coverage across more than 300 markets. McGuinty explains why VendVue has moved from the “build phase” to the “scale phase” and discusses his very public “Path to 5,000” a five-year effort to build 5,000 profitable accounts while openly sharing the victories, setbacks and realities of aggressive growth. The conversation also explores one of the biggest questions facing operators: What does it really cost to acquire a new account? McGuinty and Tullio discuss why some operators embrace outsourced sales while others resist it, the true cost of maintaining an internal sales infrastructure and why evaluating customer acquisition cost belongs in every operator’s pro forma. Key Takeaway Growth has a cost. Whether an operator employs an internal sales team, relies on ownership to sell or uses an outside resource, accounts are never truly acquired for free. The bigger question is whether the acquisition cost produces profitable, sustainable business. For McGuinty, the objective is clear: 5,000 profitable accounts and a public record of what it takes to get there. He closes with a simple message for operators: Build as many effective channels for new business as possible and make sure every one of those roads leads back to your company. To learn more: https://vendvuevending.com/partner/
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