Introduction

Banks and credit unions of the past were large one-stop-shops for all your financial needs. Today, online banking has made many of those tasks much easier. For this reason, banks are gradually transforming each of their branches to deliver coffee-shop style customer experiences, with much help from Digital Signage solutions. Let us have a look at how banking customer experience is influenced by digital signage.

1. Interactive signs

Interactive touch screens can be placed at different areas in a bank where customers can avail services on those rather than waiting to be served at the counter by the bank employees. For example, they can browse through the catalog of retail banking services, learn about the procedure to open or close a bank account, discover exchange and interest rates and so on.

2. Self service

Customers in today’s world like to be in control of their shopping experience. They will indeed explore, research and share their purchase decisions, and are constantly on the lookout for personalized interaction, not just good customer service. This is where digital signage comes in to play – by offering customized concierge-level services in each branch. Banks can use interactive digital kiosks that contain all the information pertaining to the products and services that different demographics will require. With this data, personalized content can be offered when customers interact with the digital display. Customers will be thrilled at seeing the relevant information at their fingertips, thereby engaging customers and attracting more foot traffic.

3. Queue management

One of the biggest reasons for customer dissatisfaction in retail banking is to have to wait in long queues. In order to make the waiting times less of an annoyance for customers, banks need to implement attractive digital signs to draw customer attention away and minimize boredom.

Observe areas where dwell times are long and place digital signage there to inform and engage customers. Content such as real-time financial information of stock market and currency exchange will distract customers in addition to weather reports, news, sports updates, and so on. Information related to the bank’s services will also help with cross-selling and upselling. Moreover, you can integrate queue management into your content to show customers the estimated waiting time and calling customers to relevant counters as an effective way of facilitating a smooth flow and enhancing branch experience.

4. Video walls

If you invest in a massive video wall for your bank, that is undoubtedly the first thing people will see as they walk in or pass by. On this screen, you entertain and educate your market about your banking services, current interest rates, exchange rates and so on. Video walls are so attractive that even those who are just driving by will be tempted to stop and come inside!

5. Targeted messaging

Banks have contact details of all their customers and many potential customers too. By using targeted messaging through mobile phones, banks can convey messages regarding promotional services and other information. Furthermore, by incorporating screens into ATMs, those few seconds that customers wait to receive their money can be used for displaying some useful information which is very focused and targeted. Although this is a very brief interaction, banks can reach customers who rarely go inside a bank branch, thereby being able to reach a much broader market on a more regular basis.

6. Welcome messaging

Most customers spend only 5-10 minutes on average for every visit to a bank branch. Therefore, banks and financial institutions have very little time to communicate messages effectively. One of the prime areas where digital signage works in a bank is where customers enter the bank. Invest in a big screen to be placed here which will inform customers and guide them to different directions within the branch.

With correct implementation of digital bank signage in the welcome area and other locations in a bank, staffing needs can be reduced, thereby lowering training costs, increasing customer satisfaction, increasing deposits and sales of financial services.

7. Going green with automation

Digital signage solutions can display a wide range of information in a dynamic and interactive way which attracts customers. As a result, there is no need for traditional print materials and static signage. Printing costs are saved in the long run, thereby benefitting the environment too.

Moreover, digital signage requires just one person who can sit indoors and update content through cloud software across all branch locations. Manual replacement of promotional materials, distributing brochures, updating bulletins, etc will not be necessary.

By ensuring a paper-free in-branch environment, a clean, sustainable and modern image is presented, which contributes towards a better banking experience.

Conclusion

Digital signage for financial institutions gives customers the perception that they are attractive and approachable, thus improving the overall customer experience.

The post 7 Ways to Improve Customer Experience with Digital Signage in Retail Banking first appeared on LED Craft.