Local branches are facing a unique challenge: competing with their own online and mobile banking platforms. As customers increasingly opt for the convenience of digital banking, physical branches are under pressure to not only engage customers but also drive sales of retail banking products and services.

To meet these expectations, many banks are turning to a powerful ally: Bank Digital Signage. Digital signage is much more than a set of screens displaying ads throughout the day; it's a sophisticated tool for delivering tailored, engaging content.

The Shift to Retail Destinations

Banks have been pioneers in adopting visual displays, driving the development of interactive and sophisticated devices. They’re now leveraging digital signage to meet customer expectations and transition from service centers to engaging retail destinations.

Consider this: 90% of purchases are still made in branch locations. Digital signage plays a crucial role in influencing customers to explore and adopt banking products and services by providing real-time information. It replaces static placards with screen-based videos, capturing attention and driving them to new retail products.

Inform, Entertain, and Reduce Wait Times

Studies have shown that digital signage can reduce the perception of wait times by 10.8%, making customers more relaxed during their wait and improving their overall mood when they finally meet with bank associates. In an era where the average customer is unwilling to wait for more than 10 minutes, this improvement is significant.

Build Trust and Loyalty

Digital signage's impact extends beyond the traditional waiting area. Outdoor digital signage boosts brand awareness and guides customers through drive-thru ATM services. ATM screens become personalized messaging platforms. Lobby displays welcome and inform visitors, fostering a sense of community, and small counter screens provide specific customer instructions and promotions.

Leverage Content Management for Efficiency

An intelligent Content Management System (iCMS) is the backbone of effective digital signage. It allows banks to create and display content relevant to each branch. iCMS enables efficient content creation, publishing, and maintenance, making use of scheduled and dynamically delivered content.

Measure the ROI

Investing in digital signage brings tangible benefits to banks. It significantly reduces print production costs. Detailed information once found in brochures can be accessed through URLs or QR codes displayed on screens.

Moreover, digital signage provides sophisticated analytics, allowing banks to track content impressions and engagement. QR codes enable customer interaction tracking, while advanced screens can differentiate viewers by gender, age, and time of day. This data helps fine-tune marketing campaigns and improve the appeal of retail offerings.

Embracing the Future

In the ongoing battle between online and physical banking, digital signage emerges as a valuable ally. Engaging visual displays not only generate interest and raise awareness about services and products but also serve as an omnichannel concierge for the neighborhood branch. They provide a mix of timely service, upselling, and cross-selling opportunities, maintaining and building on existing customer relationships while attracting new ones.

Follow  Korbyt on AVIXA for more on how digital signage is maximizing engagement.