More than $1.37 trillion is being circulated within the United States as we speak right now. A large amount of this money goes through banks or financial institutions at some point or the other. This means that banking is among the most important industries behind the US economy even if the economy is in a recession because of high taxes and regulations. Regardless, money still moves vertically and horizontally and even digitally and banks are the key to it all.
Customer satisfaction is a very important part of banking. If customers are not satisfied with their banking experience, they are going to look for another bank before you know it. Considering the competition from the public and private sector, there are a lot of options open and with attractive offers on the shelves.
These are unique challenges which these institutions have to face and that are why they have to do whatever is in their best interests to ensure their bank is stays on the top. Delivering the right information at the right time can go a long way in satisfying a customer’s needs. Digital signage is a marvelous way of doing this. You just need to be creative about this.
Let us take a look at some of the benefits of this:
Training
Training is pivotal for banks since this is a heavily regulated industry – the government even used to force banks to give loans to anyone which led to the housing crisis but that is another story dealing with regulation. Moreover, banks tend to have a number of branches spread over a large geographical area and this can make it difficult to train everyone consistently and constantly.
Installing digital signs in offices or break rooms and behind counters can make training into a simple and more streamlined experience. Employees can even be educated passively with the help of messages and daily reminders. Specific information regarding training could be shown outside of business hours.
Consistent information could be shown at branches all over the country and this will ensure that everyone is trained the same. For example you could consider daily exchange rates, simple notifications about line and banking counters, technical know-how and tips, and so on.
Cross-Selling
This is basically the act of selling additional products and services to existing customers. It is vital that banks do this since the more products of one institution a person owns, the less likely they are to switch to another bank.
Digital signage could help with promoting various products and services. But instead of simply displaying all products, they can be used to display information aimed at a specific audience. Forex products in front of exchange counter are a profound example.
Brand Experience
There is no denying the fact that banking has been commoditized. There are few differentiators among various institutions apart from the brand experience. That is why banks must create a unique experience for customers to get appreciated and recognized.
Digital signs could help build an experience in various ways. They will be considered as helpful, modern, and informative by customers. This will also enhance interaction with the bank. Signs can be used for tying together online and offline presence by sharing relevant information and promoting the bank’s website and app.
Digital signage even enables you to create design templates to streamline branding so that the typography and color scheme of your bank remains consistent throughout the institution.
ROI
The return on investment (ROI) potential from digital signage is huge for banks. They can use them for:
- Increasing deposits.
- Increasing financial product sales.
- Reducing staffing requirements.
- Lowering training costs.
- Increasing customer satisfaction.
- Strengthening brand loyalty.
If you are looking for ways to set your bank apart from the competition, digital signage is the way to go. It can help you with effective training, making it easier to sell services and products, creating personalized experiences and more. So implement digital signage in your bank right away so that you can enjoy these unique benefits.
