How would you disrupt a highly regulated industry such as banking, where 80% of interactions take place through self-service channels? Retail banks are not only expected to build relationships, increase customer satisfaction and foster brand loyalty but are expected to do so in an efficient and cost-conscious way.
But how exactly should banks do this differently than their competitors? Their corporate culture is dominated by strict governance, black and white policies and formality, and creative ideas are rarely encouraged, as they come with an element of uncertainty and carry a significant amount of risk. The answer? Start with digital signage.
Target the Right Audience
Bank digital signage lets you tell a story. When placed in waiting areas, digital boards can increase customer engagement. By leveraging a bank’s existing customer database, digital signage messaging can focus on telling stories of how its products and services have helped its customers. Whether you tell short, 30-second stories that cover the features of your credit cards or highlight real-life customers who have purchased a home using a loan from your organization, featuring these stories on bank digital signage can not only help increase credit card application rates and loan inquiries, but they can help visitors feel more connected to your brand.
Efficiently Manage Content
Each retail bank has their own unique set of customers. To consistently engage them, content must be fresh, regularly updated, targeted and efficiently managed. Digital signage in banks can help make this possible. Four Winds Interactive’s (FWI) Content Manager is a feature-rich application that streamlines the effort needed to create, deploy and maintain various types of information. With Content Manager, it’s easy to change advertisements based on various scenarios. For example, retail banks can run content related to promoting financial services for retirees during the morning hours and credit card services for Millennials later in the afternoon.
Know How to Measure ROI and ROO
First, digital signage in banks removes the need for printing and paper, as advertising and marketing materials don't need to undergo the manual process of poster production. Second, content dissemination no longer needs to be in the form of pamphlets and flyers, as the same material can be emailed and shared via social media.
Return on objectives (ROO) is another strength of bank digital signage. Full turn-key solutions such as FWI have a real-time reporting capability that can sync with top CRM applications. This means that marketing managers can know in real-time how many digital signage content impressions and engagements they’re receiving from each display.
Improve Internal Employee Communications
Digital signage in banks is not just for advertising and marketing; it can also improve internal communications. Interactive screens can help improve team cooperation, manage performance and strengthen corporate values. With the right applications installed, such as FWI’s Salesperson Leaderboard and Job Promotions, signage can also be used as a tool to recognize top performers.
Improve Efficiency with Meeting Room Signs
Beyond marketing, advertising and internal communications, digital signage for banks is an excellent tool to maximize the use of an organization’s meeting spaces. FWI BOOKED is a meeting room management product that improves how employees search, book and utilize meeting rooms. With FWI BOOKED, retail banks can optimize their real estate space, providing employees with a more digitally integrated office experience that delivers automatic and dynamic meeting room statuses.
Banking customers who are engaged bring 37% more annual revenue to their primary bank. Changing the way banks engage with their customers is no easy task, but with the right tools, banks can position themselves not just as a financial institution but as companies that care for their customers. Digital signage in banks goes beyond driving an excellent customer experience—it can strengthen a bank’s ability to deliver better results, improve internal processes and address any gaps in communication. Bank digital signage just might be the competitive advantage you need to disrupt the industry.