The modern world is reshaping customer expectations, and the financial sector especially needs to ensure they keep their clients engaged. With so many banks and financial service providers investing in digital solutions, one area that suffers is the overall customer experience at the institution’s physical locations.
Everyone now understands that the user journey and customer experience determine whether a company will be able to attract new clients. One of the best ways to ensure customers remain loyal to a financial institution is with digital signage in the retail-banking sector.
In fact, the financial industry was one of the early adopters of visual displays and drove the development of more sophisticated, interactive devices over the last two decades. Here are some of the benefits of investing in digital signage for financial institutions.
7 Benefits of Digital Signage in Retail Banking
Brand identity, social responsibility, and public trust all influence how customers perceive a financial services provider. While these are effective strategies, how the organization informs customers about their initiatives is just as vital. By investing in digital signage, the financial institution can implement a robust platform that benefits both their customers and employees.
1. Efficient Promotion of Marketing Messages
Modern society is now used to getting information from screens. With digital signage, a retail bank can easily promote services and products to everyone who visits the branch. The latest displays integrate with the organization’s CRM and ECM systems, ensuring a consistent, visually engaging experience throughout the network of branches.
2. Digital Signage is More Sustainable than Printed Marketing Materials
Reducing paper is a corporate responsibility for any organization. Although brochures may still be useful in some instances, a digital display provides a better platform to broadcast both product details and service descriptions. Instead of relying on printed materials, the financial institution can provide a web address or even a QR code directly on the screen for customers to access more information about a specific product.
3. Greater Engagement Rates
The way companies opt to present vital information usually influences the levels of engagement. While marketing departments continually refine their methods, visually rich media has become the standard for driving customer engagement. Digital signage allows the financial institution to deliver banners, videos, and slideshows in high-definition to its customers.
4. Perfect for Cross-Selling Products
Digital signage in retail banking frees up tellers and other staff from having to cross-sell products. By promoting a specific product depending on the location of the digital display, the institution can generate new leads. Customer retention relies on satisfying their needs, which means the more services they use from a specific institution, the more likely they are to remain loyal in the future.
5. Brand Continuity and Confidence
It’s easier to ensure a consistent brand identity in different locations using digital signage instead of printed cardboard and posters. Whenever the institution updates any part of their branding materials, they can quickly push it across all locations without requiring a concerted effort. It also provides a means to harmonize all branding materials across multiple digital or visual channels.
6. Improved Customer Experiences
Digital signage for financial institutions can provide a better customer experience with self-service kiosks or interactive queueing displays. It’s common for banks to have long queues where customers may become frustrated. If a customer visits the bank and discovers they could help themselves instead of waiting, they’ll feel more empowered.
7. Attract New Customers
Apart from servicing their customers, digital signage can assist the financial institution in marketing to potential clients. By setting up displays where the public can easily see them, it’s more likely that people will take notice and come inside the branch to request more information. While static displays may serve the same purpose, today’s consumers easily disregard the information presented on posters. With a video or animation, people will pay more attention, and it may just be enough for them to decide to switch from a competitor to this retail bank.
Interactive Digital Signage Solutions from Donnellon McCarthy Enterprises
One of the additional benefits that financial institutions get from implementing digital signage is improved employee engagement. The company can inform employees about a specific branch’s performance, policy updates, a colleagues’ birthday, or communicate updates to a mission and vision statements.
Donnellon McCarthy Enterprises provides high quality, interactive digital signage solutions for a variety of industries and institutions.
Some of the digital signage solutions available from Donnellon McCarthy Enterprises include:
- Video walls
- Indoor and outdoor displays
- Customized interactive displays
- Interactive touch panels
Modern consumers continue to change the way they want to interact with financial institutions, so keeping ahead of their expectations will be vital to retain customers in the future. To ensure customers feel valued and to keep them engaged, digital signage is an effective method to maintain a clear and consistent message throughout the institution’s different locations.
To find out more about digital signage for financial institutions, reach out to one of our agents at Donnellon McCarthy Enterprises today.