Advancing technology and high competition in the financial sector continue to evolve customer expectations. To attract and engage customers, modern financial institutions must invest in the right digital solutions.
Digital solutions, of course, encompass mobile banking and other online strategies, but they also refer to the physical branch.
Digital signage in the retail branching location can make a huge difference in the customer experience. Banks can leverage digital signage for effective communication with customers and employees, which improves the customer journey overall. Effective digital signage helps bank branches in several key ways. It’s now a crucial component of modern banks looking to achieve success in the modern digital age.
Why is digital signage so crucial in the financial industry? Here are the top ways that digital signage improves the bank branch experience.
Robust and consistent branding is crucial in the financial industry. One of the best ways to support company branding is with electronic signage. Leveraging digital signage for branded content helps banks build loyalty with customers.
Better yet, banks with several branches can deliver the same branded information across all of their branches at once. Whether a customer goes to branch A or B, they will receive consistent branding via digital signage.
Using digital signage, banks can display information from their websites or social media channels. This visual content attracts customers’ attention and generates interest.
Effective communication is crucial for the customer experience. Digital signage helps banks communicate more effectively.
Again, using digital signage, banks can display important information to customers in all branches simultaneously. This practice ensures the crucial information is readily available to everyone at the same time.
Furthermore, digital signage facilitates internal communication and corporate training. Banks can display critical policy updates, reporting details, and training information on their signs for employees.
Ultimately, digital signage has many applications for communication, such as:
- Distribute content
- Share promotions and offers
- Communicate by time zone or region
- Share merged information with other financial systems
Improved In-Branch Experience
Financial operations have primarily moved online, which means the customer experience looks different. Many modern bank customers are very used to screens and digital solutions. Electronic signage is another key way to align the on-site experience with the digital one.
Nobody likes waiting in line. Digital signs help keep the line moving faster by clearly outlining who is next, but they also reduce the perceived wait time. According to Platt Retail Institute, digital merchandising produced a 10.8% reduction in perceived wait time! Even when the queue is not shrinking, customers have a better experience with digital signage because they feel like they’ve waited for less time.
Displaying key information helps improve the customer experience. When customers have the information they need, they feel more at ease. For example, you can use electronic signs to share the following helpful information:
- Expected wait times
- Who is next in the queue
- What to bring with you to the counter (ID, any forms, etc).
- Personal finance and banking tips
- Information on mobile banking
Touchscreens are one example of how banks can leverage digital signage to improve the customer experience. They can offer touch screens where customers can view services or access their account information. The touch screens facilitate self-service for simple tasks, which many customers crave. Overall, the touch screens help to reduce the strain on workers as well.
A huge part of long-term success in the financial industry is relationships. Building relationships with customers increases loyalty and reputation. Digital signage not only improves the customer experience but also creates a warmer environment.
Welcome new and existing customers to your branch with engaging digital signs. Incorporate helpful content so that customers perceive you as helpful and attentive. Leverage the signs to showcase local community activities and support. Highlight your team, and foster authentic connections.
Attract New Customers
Digital signs can also attract new customers. By placing signs in the public view (like right outside the branch), banks can attract walking or driving customers. While you can do this with static displays, digital signage is far more engaging and effective.
When looking to attract new customers, incorporate engaging content like videos. Video animations catch peoples’ attention and may entice them to learn more about your bank. Once a new customer enters your branch, additional signage will continue to deliver an excellent experience.
Another key benefit of digital signage for banks is the ability to upsell. Banks can use digital signs for advertising their services to current and potential customers. Advertising services in your branch appeals to on-site customers and facilitates up-selling and cross-selling.
One of the best ways to up-sell with digital signage is while in the waiting line. The time when customers are in your physical branch waiting for their turn is valuable. Use this time to advertise relevant services with digital signs.
Mix in advertisements for other top financial services with tips, news, and more. Use product and service ads to share helpful information that customers may not know. Leverage dynamic messages, powerful graphics, and compelling copy to draw attention to your services. Always include a CTA to ask a representative for more information to get started.
Reduce Marketing Overhead
Marketing and advertising are notoriously expensive. Digital signage is a great way to reduce the overhead of marketing.
You can save money on printed flyers with easy-to-update digital signage. Repurpose your social media and web content to boost its ROI. Electronic signs require very few workers to manage them, as content can be created from one location and shared across multiple signs and branches.
Information in banks is constantly changing at a rapid pace. Keeping up with fast-moving changes can put a strain on operations. Digital signage helps to boost operational efficiency. It allows for quicker, easier changes than print marketing, which means you can display new urgent information within a few moments.
Ultimately, implementing digital signage helps banks to save time and resources. It will streamline operational efficiency while improving the customer experience.
Provide Better In-Branch Experiences with Digital Signage
Digital signs engage customers, enhance loyalty, and improve bank operations. BLM Technologies is here to help you reimagine the branch experience with digital signage. With our digital signage services, we’ll help your bank create powerful connections with your customers in your branch.
Our team of experts works closely with you to understand your business goals and benchmarks. We offer both hardware and software solutions for AV and digital signage. With BLM Technologies, you can always count on robust planning, impeccable security, high-quality displays, powerful software, professional installation, and expert maintenance and support. Start your custom digital signage solution today and learn more about how it will improve your bank! Contact our team of experts today.