Things Have Changed
The world is changing fast, especially in the banking industry. Financial institutions are working hard to attract new clients while impressing and capturing more wallet share with their current ones. To do this, in-branch marketing has to be dialed in and engaging. But how do you know if your strategy is ready to actually make an impact on sales?
Since 2014 DBSI has tracked the use and innovation behind digital signage being used in branches across the U.S. Nearly 150 banks and credit unions have shared their insights on the subject leading to the valuable data points in this report.
Get access to our free 'DBSI + CFM’s Annual Digital Signage Benchmarking Report.' Stay in the know of the latest trends and innovations in the digital signage world. And learn how you can implement the findings in your branch network.
We found that 72% of Financial Institutions with Interactive Digital Signage say it has improved sales efforts. So, you might be wondering how can you make that happen for your branch network and how much does it cost?
Make It Happen
77.7% of financial institutions use digital signage to promote products and services, but only 27.3% use digital signage for financial education. This is a major opportunity for differentiation, as any expert marketer knows education is the fastest way to earn trust, build a relationship, and position your brand as a thought leader. Even more so in the financial industry, leading with financial advice and education helps shift from transactional to advisory relationships.
Use fun interactive games and quizzes to attract clients to the interactive signage and then use the tools to teach them something about how your financial institution can help them along life’s financial journey. It’s way more fun and meaningful than just looking at rates!
Now, to turn even more leads engaging with your digital signage into clients check out Financial HealthCheck, an app that attracts clients with personalized financial tips, how they compare to their peers, and then helps you better serve them with results for your associates to use in conversations with the client.
How much does it cost?
On average, branch networks with interactive digital signage spent about 75k last year on digital signage. And branch networks with 100% digital saturation in all of their branches spent almost 30k less in 2019 compared to financial institution still investing in new hardware.
So what does this mean? Digital signage is an investment. Build you budgeting plan and board presentation to showcase the ROI over time. Initial costs for hardware might scare off some of your less-sophisticated competition, but don't let your branch network get stuck behind. Use this report to help build your case for digital signage with data points and proof that it can work in your network.
Get more insights like this with our free Digital Signage Benchmarking Report.