Digital Signage: The New Banking Experience
The use of digital signage is an exciting, innovative marketing technique for the 21st century. In recent years, digital signage has exploded in popularity in the financial industry, as well as across many other industries. Digital signage is a great choice for modern financial institutions and lets your customers know you’re ready to embrace the future.
What is digital signage?
Instead of relying on outdated techniques such as writing on a white board or hanging cardboard signs, companies are turning to the modern approach of digital signage. Digital signage utilizes technology such as LCD or LED monitors to convey your company’s message to customers. Financial institutions are using digital signage in many ways, such as displaying ever-changing interest rates or advertising different types of loans.
Monitors for digital signage come in many shapes and sizes. Displays can be only inches wide and imbedded into an ATM machine, or the size of the entire wall of a room. With all these excellent options, it’s clear that digital signage is the future of advertising in banking.
Digital signage can increase deposits.
Banking customers have a lot more options today than they did in the past. The internet allows consumers to find a bank that suits their unique needs. It also allows customers to cash checks and manage accounts without visiting a physical branch. There are fewer reasons than ever for customers to visit a physical branch of your financial institution, so when they make an appearance you want to leave a lasting impression with digital signage.
In banking, one of the main goals is to encourage customers to make deposits. Ideally your customers will choose your financial institution for their direct deposits for work, and they’ll also choose to cash personal checks there as well. Digital signage can encourage customers to deposit money into your bank and make them aware of all the benefits your institution has to offer.
When consumers are looking for the best interest rates on a checking or savings account, they’re going to be influenced by digital signage. Digital signage can be used to display your best interest rates, as well as the benefits customers will gain from making a deposit to your bank. This can increase the future rate of deposits and ensure that customers will want to come back.
Digital signage can increase sales of financial products.
By displaying all the financial products your financial institution has to offer on digital signage, sales will greatly increase over time. Customers will be exposed to ever-changing information that will make them aware of all the enticing financial products offered by your bank.
Customers will be able to look at their options in new and exciting ways. Instead of reading boring text about a mortgage, they’ll see a young couple walking into their first house for the first time. Digital signage allows consumers to receive positive reinforcement from stimulating images as well as through text. It’s a much different approach than the text-based advertising of the past.
Many consumers will respond differently to a stimulating image than they would to a dull frame of text. Digital signage gives your financial institution the opportunity to reach consumers in ways that were not possible in previous years.
Digital signage can reduce staffing needs for your financial institution.
Traditional bank tellers used to be a cornerstone of any financial institution. However, the future of banking lies in digital transactions. Digital signage with touch screen features can be used by your institution to take the place of a traditional teller. This can reduce the number of people you need to hire for teller positions, and allow currently employed tellers to focus on other tasks when they otherwise would have been assisting a customer.
Furthermore, since interest rates in banking can change by the day, it can be a tedious job for employees to constantly keep the rates updated for customers to view. Digital signage eliminates the need to send an employee to adjust a whiteboard or traditional sign every single day with new interest rates. It’s much easier to update rates on digital signage, and it also prevents errors that can occur when an employee writes the wrong number or forgets to update the daily changes.
Digital signage can lower training costs.
Digital signage is an excellent way to convey messages to employees. It can be used to communicate messages from corporate to employees who would otherwise not have contact with them. Because of limited access to company email, many employees have no way to receive messages from corporate and are not aware of important company news and events. Digital signage at your financial institution in view of the employees can solve these issues and prevent the need to retrain employees or constantly remind them of company policy or philosophy. This can save your company a lot of money in the long run because of increased productivity.
Digital signage allows your employees to receive training without sending someone from corporate to each separate branch. Since the policies of banking are always changing, many companies find themselves sending people across long distances to train employees at satellite branches. Digital signage allows your company to conduct training in a digital space with no need to pay expensive travel costs or send anyone out of the corporate office. This can end up saving your company a substantial amount of money over the course of the year.
Digital signage can increase customer satisfaction.
Most people have a difficult time connecting with impersonal messages on traditional signs. For example, a whiteboard displaying interest rates may come across as cold and empty. Thankfully, digital signage offers a dramatically increased opportunity to connect with customers and advertise a product.
Digital signage allows financial institutions to form an emotional connection with their customers. People like them can be used in ads which makes the message a lot easier to relate to. It’s much easier for a customer to feel a connection with a couple their own age buying their first house and smiling rather than a cold, emotionally distant sign with mortgage rates on it. Customers will feel more confident about their financial decisions, and in turn they’ll have increased satisfaction. It also may be easier for them to select the product that is best for them.
Digital signage can also be used to convey important messages to customers. For example, it can be used to let banking customers know how much longer they have to wait for a service. If they’re waiting in line for a teller or waiting to talk to a consultant about a loan, they may get impatient. If customers have no idea how much longer they have to wait they can get very frustrated. However, digital signage can eliminate the uncertainty and let customers know exactly how much longer they have to wait. This will lead to increased satisfaction, and make customers feel more confident about choosing your financial institution.
Using digital signage can lead to strengthened brand loyalty in customers.
Digital signage provides a great opportunity to connect with customers and build a sense of brand loyalty. It allows your financial institution to feel less like a distant corporate entity and more like a local bank. Your banking location can display topics of local interest on digital signage. You’ll be able to regularly switch the displays to connect with members of the community and support local topics of interest.
Another way to connect with the local community through digital signage is to display partnerships with local businesses. This will show customers that your banking location is supportive of local businesses. It will build good feelings about community relations while maintaining brand loyalty amongst your customers.
Digital signage allows for quick communication of messages.
It’s quick and easy to add, remove, or edit messages on digital signage. If an error is spotted, it’s very simple to edit digital signage. On the other hand, traditional signs would need to be re-written or re-printed which can waste a lot of time.
Another advantage of digital signage is that it can be changed from a remote location. This allows for quick, efficient communication between all branches of your financial institution. Instead of making a phone call and waiting for someone to hand-write a new message on a whiteboard or cardboard sign, digital signage saves you the work and allows for convenient, instantaneous communication.
Digital signage can pave the way to the future for your financial institution.
The future of advertising is in digital signage. By choosing digital signage for your financial institution you will be able to connect with customers and employees on a new level. Productivity and customer satisfaction will increase, and profits will follow suit. Investing in digital signage means investing in the future of business. Call us today to learn more about how to take your business to the next level through digital signage. We’re qualified to serve the unique needs of every business and increase profits for your financial institution.