Hey there, Vendpreneur!

Welcome to Becoming a Vendpreneur—where every week I help you navigate the challenges of running a vending machine business, whether you’re just starting out or looking to expand your operation.

This week, I want to share five effective methods for cold outreach in your vending business:

1. Calling

2. Texting

3. Emailing

4. Social Media DMs

5. A Combination of All Methods

But before we jump into more details, I want to share a few quick updates on my two vending businesses, Pod Plug and Vending Machine LaunchPad (VMLP):

Business Updates

• 🎥 Brought Cassy on board as my first-ever personal social media manager. With my recent entry into short-form video and my YouTube debut next week, it's time to step it up a notch!

• 🤝 Chatted with a potential business development manager to start cold calling for VMLP members to help them secure vending locations.

• 💼 Had an interview with a Go High Level CRM expert to track all those VMLP leads that'll be flooding in when we relaunch at $2,997 in the coming weeks

• 🚀 Had an epic LaunchPad Live! session, deep-diving into the art of cold outreach (which, surprise surprise, is this newsletter's hot topic)

• 💻 Welcomed Merry aboard as Pod Plug's SDR to create our HubSpot sales CRM

• 🛒 Interviewed a rockstar candidate for procurement manager. Sending her an assessment this weekend!

• 🎨 Had interviews with 2 Art Directors to lead Pod Plug's visual revolution - from creating ad screens to 3D renderings to slick pitch decks. It's been on my wishlist for 2 years!

• 🌿 Had a call with someone with a cannabis company looking to team up and launch a weed vending machine in LA - hit reply if you think this idea's a winner or a loser!

• 🏥 Personal update: Believe it or not but I fainted for the first time ever. Doc says it's a mixture of sleep deprivation and stress. Time to put health in the driver's seat, hence the hiring spree of 4+ people

Now, let’s dive into this week’s newsletter!

🔗 Best Links

Curated picks for Vendpreneurs

📱 Top Reads

• Check out this new side hustle idea: an ice vending machine! 🧊 Find out how much you can make. (LinkedIn)

• 10 lame but surprisingly lucrative businesses – and yep, vending is #1! (Twitter/X)

🛠️ Must-Have Tool

• For executives drowning in virtual meetings, this tool will save you big time. (Fathom)

😱 Trending Now

• A vending machine that disinfects 🛵 helmets? You’ve got to see this! (TikTok)

• Vending machines aren’t just convenient anymore, they’re aesthetic too! (TikTok)

🎮 Guess the Vending Item

Welcome to the interactive game within my newsletter!

Here's how it works:

A blurred image of one of my vending machine products is linked below. Click below to look and reply to this email with your guess of what the product might be.

If you guess the product correctly, you'll win $!

If no one guesses the item correctly, I’ll reveal the answer in next week’s newsletter and up the stakes with an additional reward.

CURRENT PRIZE: $15

Some tips before you guess:

• Each person has only one chance to guess.

• You don’t need to have seen or used the product.

• Feel free to forward this email to your friends to see if they can guess.

Cold outreach can be one of the most effective ways to grow your vending business, especially if you're just getting started.

If you want to lock in your first location, this is the way to go.

But before you start reaching out, you need to identify the best spots.

That's why building The List is key.

I’ve talked about this before, but now it’s time to take it up a notch: reaching out.

In this issue, we'll cover the top cold outreach methods and bonus tips to help you secure new locations. 👇

Method #1: Calling

Cold calling is a powerful way to land new vending locations quickly.

You get instant feedback, and it’s super easy to know if they’re interested or not. You can also handle any concerns on the spot.

About 51% of business owners prefer phone calls over other methods like email or drop-in visits.

An industry study by Zoominfo found that nearly 75% of prospects attended a meeting or event due to a cold call.

That means when done right, cold calls can actually lead to higher conversion rates than other methods.

Here’s how to crush it with cold calling:

• Prepare a Script: Have a basic script ready with your main points. But don’t sound like a robot. Keep it natural and flexible so it feels more like a real conversation.

• Focus on the Prospect: Ask open-ended questions about their needs or their current setup. This gives you key info to see how your service can fit their needs.

• Highlight Value: Make sure they know what sets you apart. Do you offer a wider selection or better service?

Take a look at my cold call playbook. It helped me scale from 0 to 100+ machines in 5 years, and I still rely on it today.

Method #2: Texting

Texting is also blowing up as one of the best ways to reach new locations fast.

It’s quick, simple, and lets people respond when they’re ready.

With a 98% open rate for texts (compared to just 20% for emails), your message is way more likely to get seen.

More views mean more chances to secure those vending spots! Just make sure to keep your texts short and to the point.

Texting is also great for staying connected with prospects.

After your first outreach, it’s a super easy way to follow up without being annoying. A quick check-in text shows you’re still interested and keeps your vending services on their mind.

And get this—90% of texts are read within three minutes. That’s insanely fast!

By adding texting to your cold outreach game, you’ll stay top-of-mind and increase your chances of locking down more vending locations!

Method #3: Emailing

Emailing is a powerful tool for cold outreach because it lets you share all the details about your vending business in one go.

Unlike phone calls or texts, emails give you the chance to show off your pricing, product options, and even customer testimonials.

I’ve shared the 4 key marketing materials you need for your business, along with some handy templates. Feel free to check them out!

One of the best parts? You can track who opens your emails and clicks on links, so you know who’s interested in your offer.

Here’s how to make your emails work:

• Keep It Short: Aim for 150-200 words. Be clear and to the point, ensuring your message is easy to understand.

• Include a Clear Call to Action (CTA): Always guide the recipient on what to do next. Try something like, “Let’s set up a time to discuss how our vending services can help your business.”

• Personalize Your Message: Mention the person and business by name or reference a past interaction. Personalized emails significantly outperform generic emails in terms of open rates. (Thanks, HubSpot!)

By using email in your cold outreach, you can provide valuable info and help potential locations make a decision fast!

Method #4: Social Media DMing

Social media DMs are a great way to connect with decision-makers (especially on platforms like LinkedIn).

DMs feel more casual and personal than other outreach methods, making it easier to reach potential vending locations where they’re already active.

Here’s how to nail your DMs:

• Personalize Your Message: Mention something specific from their profile, like a recent post or achievement.

• Be Concise: Introduce yourself, provide a quick context, and wrap up with a clear call to action. A few sentences are all you need.

• Engage Before Pitching: Before you send the DM, engage with their content first. Like their posts or drop a thoughtful comment. This builds familiarity and makes them more likely to respond positively.

People engage with brands and professionals on social media all the time, so you’re more likely to get a response.

Method #5: Using Multiple Platforms

Here’s the thing: everyone has their own favorite way to communicate.

Some prefer phone calls, while others like emails or DMs.

By using multiple platforms, you increase your chances of connecting with potential vending locations where they’re most comfortable.

Mixing up calls, emails, and DMs is a winning strategy to reach more prospects.

Here’s how to master multi-platform outreach:

• Plan Your Moves: Start with an email, follow up with a call, and then try a LinkedIn DM if there’s no response. The key is to stay on their radar without coming across as pushy.

• Adjust Your Message: Keep your core message the same, but tweak it for each platform. Emails can be more detailed, while DMs should stay short and snappy.

• Track Everything: Use a CRM tool to keep track of your outreach efforts. This way, you’ll know who you’ve contacted, which platform you’ve used, and when it’s time to follow up.

There are many affordable CRM options like Monday.com, Hubspot, Salesforce, but I always return to Google Sheets/Excel.

According to research, it takes 6-8 interactions across multiple channels to convert a lead into a sale. And companies that use multi-channel marketing see a 300% higher engagement rate.

So, if you want to secure more vending locations, mix up your outreach.

And That’s a Wrap!

Remember, persistence is key.

Follow up quickly if you don’t get a response, but keep it polite and professional. It keeps you top-of-mind and can help you lock down that vending location!

Thanks for reading this week’s newsletter.

Hit reply and let me know what you found most helpful this week—I read every single reply and I’d love to hear from you!

See you next Saturday!

-Ethan