We recently wrote a blog post about the growing popularity of digital signage in the financial sector. Now let’s look at some ways that digital signage can help banks and other financial institutions meet the challenges of today’s marketplace.
Over the last fifty years, the financial services industry has undergone a complete transformation. With more and more financial transactions and services being carried out over the Internet, a constantly decreasing number of customers is visiting the bank. When they do, they tend to spend significantly less time inside. This means opportunities to market your products and services are markedly reduced compared to even a few years ago. Luckily, digital signage can help efficiently target customers with information during their brief foray into their local branch.
Of course, this doesn’t mean bombarding patrons with figures and blatant advertising, because there are far more interesting and effective ways of displaying information using digital displays. For example, infographics are a great way of clearly presenting valuable financial information at a glance. Using animated graphics or video content will make this more engaging to your customers.
The effectiveness of your digital signage campaign largely depends on the placement and resulting visibility of your screens. If your bank has a drive-thru, this is a prime position. High dwell areas such as the foyer of your building or cashier lines are also effective.
But digital signage technology isn’t just an effective marketing tool. Internally, it can help during the training process and assist staff throughout their workday. Information such as interest rates and exchanges rates changes on a daily basis, and digital signage allows for constant updates so information can be accurate and relevant at all times. Today’s touch screen and interactive technology can also perform certain functions that would have previously fallen to the cashier. This frees up staff to become more productive, while giving customers an opportunity to learn about products and services. Research has shown that a customer’s loyalty increases exponentially the more products/services they purchase from a financial institution.
As an added benefit, digital signage can also help banks transform their brand from an old-fashioned, corporate image to a more hip and trendy one. Read our case study on how we helped Singapore’s OCBS Bank implement a digital signage campaign to do just that.
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