Why Banking is Falling in Love with Digital Signage FINALDigital signage—multimedia or video content shown on a plasma or LCD display in a public location, with or without sound—can be a huge asset to the banking industry. Although some mobile and remote access options exist for a majority of banking companies today, brick-and-mortar branches still dot street corners. How do these locations address the challenge of remaining relevant in an increasingly digital marketplace, while still maintaining the level of personal interaction required by many to build trust? The answer is digital signage, and bankers are noticing.

Digital Signage as a Relationship Builder for Banks

Today, digital signage doesn’t just mean a blinking LCD screen in the front of the bank flashing interest rates. Rather, financial institutions are using this evolving technology to help build new—and foster existing—customer relationships using a number of techniques.

Increased consumer engagement. Engaging bank customers by welcoming feedback on customer service issues and program offerings, with the potential to up-sell to satisfied parties.

Shared resources. Educating clients on the most up-to-date financial issues through video messaging allows the bank to be seen as a trusted resource, and encouraging them to inquire about new products and services, driving better face-to-face interaction and additional conversations with knowledgeable bank personnel.

Reduced stress. Bank lineups during a short dinner break can be stressful. Entertaining customers as they wait for bank personnel to become available during these high-traffic times makes an in-bank visit more enjoyable.

Tailored content. Bank managers are able to tailor messages to particular regions, times of day and customer bases, creating a targeted, interactive customer experience that increases the opportunity for improved ROI.

Improving Staff Efficiency, Saving Money and Generating Sales

Banks who use digital signage enjoy improved staff efficiency. When programs are explained to customers through quick and simple video rather than entirely through one-on-one teller contact, the staffing situation in a financial institution can be reevaluated. Because bank personnel can likely anticipate customer questions based on what is being shown via digital signage, they can be trained to respond to the inquiries more thoroughly and in less time.

Digital signage can save financial institutions money (and reduce environmental waste) because it eliminates (or at least reduces) the need for traditional types of paper marketing, like pamphlets and signs hung on walls. These pieces of marketing collateral often become outdated quickly as rates change, and mass-reprinting costs can be high.

The advertising potential for digital signage is clear—banks can promote their services and engage their customer bases, which can translate into sales. Perhaps less obvious is the increased brand awareness provided by digital signage. On a secondary level, customers who feel affiliated with, connected to and informed of the goings-on of their neighborhood financial institution are simply more likely to put their money there.

What’s Next?

Bank managers who want to start utilizing digital signage should first make the business case for the technology, analyzing risks and benefits, and creating a date-specific plan of action. Then, videos, mock-ups, and virtual storyboards can be designed to give customers an interactive branch experience.

In sum, digital signage presents opportunities for financial institutions to connect with customer bases in fun, engaging, and creative ways. It also empowers branch personnel to help guide customer interactions in such a way that generates not only conversation, but can also lead to sales while reducing overhead. Utilizing digital signage is a good option for banks looking to build brand awareness and modernize their in-branch experience.

At Advanced AV we empower live meetings and remote collaboration by deploying the technology that helps your organization connect, communicate and engage with its customers, employees and stakeholders. Connect with us to find out more about how Advanced AV can help you achieve your business and technology goals.

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