The Benefits of Digital Signage for Banks
Research shows that, back in the day, banking halls were often designed to be relatively plain and uninteresting to appear professional and trustworthy.
They are designed for folks who just want to come in, do their business quickly, and leave. As many fintech companies keep springing up with online banking, boring banks are going out of business, and they must adapt to digital trends. A banking hall can improve the customer experience with digital signage.
This article is about how your bank can benefit from digital signage.
Why Digital Signage for Banks?
In an article on American Banker, back in 2015, comments were made on Elizabeth Warren’s statement that banks must continue to be "boring." The comment reads, “There's just one problem: today's wired customers are not interested in boring banking. They want sizzle, differentiation, personality, relevance, engagement, and even—dare I say it—fun.”
This is still true today, just as it was in 2015. Banks must stop being boring. They must focus on the customer experience.
Intuitive banks constantly search for innovative technologies to enhance customer experiences. The best banks today aim to touch their clients' hearts. For example, the showcasing of bank loan rates has evolved from simple paper or tarpaulin banners to captivating digital screens. Profitable banks use images and videos like a young couple driving a new car or an elderly couple relaxing in their retirement home.
The impact of content is what makes a difference, and digital signage is a crucial component of customer experiences in this changing environment. Brands can show off dynamic displays to their audiences using digital signage, and can provide better customer experiences as a result.
As a financial institution, you can use various digital signage content to alter your space, engage customers, advertise your services and goods, streamline internal processes, and more.
No one loves waiting in banking halls. Your bank can improve the customer experience and receive much higher levels of customer satisfaction by installing large screens and video walls. Let’s see how you can benefit from installing digital signage in your banking hall.
Benefits of Digital Signage for Banks
Customer experience is now a major factor in driving customer loyalty, far outweighing the importance of price-value perception. According to research, customer experience accounts for 55% of customer loyalty. It increased to 56% when they added price value.
It is clear from this data that traditional bank branches must prioritize improving the customer experience to increase customer loyalty. They must embrace modern digital technologies to ensure customers are satisfied with their visits to physical locations.
Digital signage solutions can offer a variety of benefits to banks. This article will explore why banks should consider investing in a digital signage system.
1. It Provides a Better In-branch Customer Experience
Since most retail banking tasks are now done online, brick-and-mortar experiences must change from how they were ten years ago.
In this consumerist era, everybody is glued to a screen. Banks have the chance to give their screen-obsessed customers a familiar experience by using digital signage.
Digital signage is used by more than 60% of banks, financial institutions, and credit unions to interact with customers while they wait to be served. An opportunity to interact with your customers is provided by bank signage.
Utilize it to your advantage to introduce them to financial services and information. Use entertaining digital signage to pass the time while your customers are waiting.
With digital signage, you can provide customers with up-to-date information in real time. Digital signage is the ideal infotainment tool because you can also show entertaining content to your audience, increasing their engagement.
2. Queue Management
Customers can sit back and unwind while they wait for their number using queue management systems that use token numbers. Each customer can generate a unique token number representing their position in line.
They can now relax in the lobby or engage in other activities instead of waiting in long lines. Save them time and lessen the clutter on your property.
If you have touchscreen digital signage available on the property of your financial institute, visitors can easily interact with it and carry out simple tasks.
They can quickly schedule a meeting with a financial advisor, make cash deposits, pay bills, and obtain loan information. It presents a fantastic opportunity to create a setting where your clients can function independently and complete their main tasks.
Eliminate having disgruntled customers whine about the wait times and use displays to establish a queue management system. Give your customers a pleasant waiting experience to show them you respect their time.
3. Entertaining Your Customers and Visitors
Aside from good queue management practices, you can use good entertainment to make your customers feel at ease in the banking environment. People may not feel the burden of waiting when they are well entertained.
You can create a happy atmosphere at your branch by playing everything from short, entertaining videos to recent celebrity interviews and weather reports.
This will make your customers feel comfortable and relaxed. Do they have kids with them? Create a designated area where animations play so parents can rest easy, knowing their children are entertained while in the bank.
Use digital signage to engage with your customers and keep them happy while they wait, giving you time to assist the customers in front of them.
4. Bank Digital Signage Heightens the Prestige of Your Institution
Your bank faces competition, just like every other company. You need to improve and provide something unique to attract more clients to your financial institution.
A branch hall with an immersive experience is a great place to start. However, one that demonstrates that it uses cutting-edge technology can undoubtedly gain traction in the market.
After all, the customers want that. By implementing digital signage in your banks, you can demonstrate to your clients that you are committed to staying on top of technology and making their lives easier.
Bank digital signage is a powerful way to showcase your institution's commitment to modern technology and quality customer service. You can use it to create a more modern and sophisticated atmosphere around the bank.
Digital signage highlights the key features of your institution, such as its security measures, convenient banking hours, and customer reward programs. Banks implementing digital signage can expect to improve customer satisfaction, increase brand recognition, and foster customer engagement.
5. Boost Efficiency and Connect with Customers Better
Digital signage in banks can boost efficiency and customer relations by providing customers with information and updates that are visible quickly and easily.
These displays can be programmed to display the latest financial news, customer service updates, and other relevant information that customers may need. Banks can also use digital signage to promote special offers, loyalty programs, and other promotions.
Digital signage can also provide customers with interactive options such as customer surveys and feedback and dynamic content that you can tailor to suit customer interests. This can help to build customer loyalty and improve customer satisfaction.
Digital signage can make life easier for bank staff by giving them easy access to customer information, quickly and efficiently processing customer requests, and reducing customer wait time.
By providing customers with quick and reliable information, banks can save time and money and provide a better experience for everyone.
6. Bank Digital Signage Provides Customers with Helpful Information
Digital signage captures the attention of viewers more effectively than printed signage, making it the perfect medium for banks to communicate vital information to their customers.
With digital signage, banks can easily inform customers of their hours, how to open a new account, and any new policies that may affect them, providing a hassle-free and engaging experience.
Although banks perform the same functions, they differ in how each interacts with its clients, operates, and upholds its values. With digital signage, you can tailor your information to your audience.
You can display only images and text on traditional signage, but digital signage allows you to display any type of digital content you can imagine, including video, animation, websites, and more.
7. You Can Update Digital Signage Automatically
The constant updating of posters and banners to reflect the most current rates presents a significant challenge for banks. Banner and poster printing and distribution are costly.
With digital signage, you can reduce these costs quickly because a central CMS makes it simple to change the content across the board. You can make updates almost instantly with digital signage. You can quickly and easily change the content of your digital signage as information changes.
Since digital signage is connected to the internet, updating and changing the content is simple and quick. Every time even the smallest piece of information changes, you no longer have to redesign, reprint, pick up, and hang new signage, saving you time and money.
8. Advertise Your Latest Offers and Promotions
Display current promotions and credit card offers. The sell-through rates of available goods and services can be increased. Do you have an app? Show a demo.
The use of digital signage is fascinating. It guarantees that anyone passing the screen will stop and look at what is being displayed. So why not take this chance to advertise your company's name and products?
By displaying promotional content, you can monetize the digital signage at your financial institution. Advertise new services, updated products, special deals, and more.
Not only that, but you can also increase your revenue by renting out promotional space to other companies and local businesses.
9. Go Green, Save Paper
Does your bank spend much money on paper and send many announcements and memos? You can significantly reduce the costs at your bank by implementing digital signage software.
Leave everything to the screens, which can convey important information in a more visually appealing manner. Going digital is a sure way to a future that is environmentally friendly. Leaflets are a thing of the past.
The days of having to print out documents or notices each time your financial institution issued a new notification are long gone. It consumes a lot of time, effort, and paper. In the age of new technology, nothing could be better than utilizing digital signage as a digital noticeboard.
You no longer need to run to the copy machine whenever you need to share something new with customers or visitors; simply post it on your digital notice board instead. Best feature? It becomes more visible, which encourages more readers.
Enhance the Bank Experience With These Content Ideas
The variety of content that banks can display on digital signage is virtually limitless. However, if you're looking for ideas, check out these suggestions for digital signage content for banks.
New Bank Policies
The banking sector is heavily regulated by law and frequently monitored by corporate administrators. As a result, new policies are implemented quite frequently. You want to inform your customers as soon as possible, but they may not notice the paper banner on your wall.
There are many ways to incorporate new regulations into your digital signage content. For instance, you could make an educational video, a humorous stop-motion animation, or just dissect it using rotating PowerPoint slides or Canva video editing.
Advertising your promotions is essential to their success, whether you provide students with a free checking account or give your credit card members a $200 bonus.
Customers can't participate in a promotion if they aren't informed about it on time. The benefit of using digital signage for promotional content is that it is much simpler to include the terms and conditions than simply include them at the bottom of a poster.
The bank's digital signage would be a great place to display event information. Banks frequently hold financial education, marketing, and hiring events. The public must be aware of these events and of the "what, when, and where" to attend. You can provide in-depth event information on digital signage, which increases interest in attending.
Even though there are some standard practices, each bank has unique ways of doing things, so customers may need directions to certain areas if they visit your bank.
Because it can be organized into steps using a slideshow feature and is easy to read from any distance, digital signage is a fantastic way to convey essential instructions to customers.
By providing instructions to your customers via digital signage, you enable them to get assistance without finding an employee, making their experience simple and enjoyable.
Nobody enjoys standing in line, so banks should consider adding entertaining material to their digital signage. Widgets for the stock market, weather, and social media are examples.
You can also include more entertaining plugins, such as "Today in History," news about popular culture, or fun facts. Remember that the background music you use for your digital signage content can also be entertaining.
You can use a service like Loop to access over 150 licensed channels for premium entertainment for your customers.