When you’re digging into some delicious Thanksgiving foods this week, leave some room to feast on our most popular blog posts of 2021. Because just like your fine china, we've broken out our top performing blogs, for you to consume all the transformation content you're craving.
The below 10 posts cover a widespread—from technology to digital signage to branch design—loaded with tips to help you prep for 2022. And unlike that turkey, these posts will stay right here, so come back anytime for another helping.
Do you suspect any of your branches could be going bad—or stale? Not as fresh or effective in 2017 as they were in 2007? We’ve found that there are 10 common barriers to effective sales and service found in most typical traditional branches: bad first impressions, poor engagement, long waiting times, to name a few. If you’ve noticed issues like these impacting your branches, you’re not alone. Clients are coming to the branchless often but with higher expectations, according to a survey from Accenture. 50% of bank consumers aged 18-34 last went to a branch for non-transactional activity, like getting information or opening an account, etc. And more people than ever are leaving their financial institutions if they aren't getting the value they seek. So if every trip to the branch matters more, what can be done to improve the client experience? Here are three causes of bad branch experiences and a few ways to fix them.
25+ Charts of Digital Signage Trends [New 2021 Research] -
We asked nearly 150 financial executives about their current state and top future strategies for using digital signage. We wanted to know what’s working, how much they're spending, and what’s most effective. The results are in and we turned all our research into 17-pages of digital signage glory—including a giant pile of charts (28 to be exact!), tons of insights, and expert analyzations on how the data and responses correlate into actionable takeaways for you in 2021. Here's a quick peek at some fascinating trends uncovered.
If other industries are an indicator of consumer preferences, including quick-service restaurants like Starbucks and Mcdonalds, it seems drive-thru traffic won't be slowing down anytime soon. One strategy banks and credit unions can take from these business giants' playbooks is adding digital signage to capture more client attention. Studies suggest this cost-effective addition can increase sales by 3-8%. Yet, our recent survey found that only 33% of financial institutions plan to add exterior digital signage screens in 2021. Now is the time to get ahead of the pack and consider implementing this cost-effective and proven method for captivating drive-up clients' undivided attention—and this blog will show you how.
Did you know that over half of the US population (51% to be exact) believe their financial institution does not provide a good client experience today? (Financial Brand) Today’s clients don’t want to bank with a provider that has stale branches and lackluster service. They want their establishment to have retail-friendly branches. More specifically, your clients want fast and efficient transactions with personalized service and the latest designs, technologies, and processes that make banking more convenient. It’s now up to you to design future branches with those conveniences—especially if you want to be one that survives and thrives. Those too afraid to make the shift towards retail banking? Well, they’ll get left behind. Don't get left behind and read this blog.
While cash might not be king anymore, it certainly isn’t going away. 1 in 4 transactions are completed with cash (Federal Reserve Bank of San Francisco), and from $240 billion in 1989 to $1.7 trillion in 2019, cash has never seen a year-on-year decline (Federal Reserve Bank of St. Louis). This means your branches still need to be cash-friendly, and ATMs and ITMs are affordable solutions for these types of needs. But just because you know there’s a demand for cash and banking technology solutions such as ATMs or ITMs (interactive teller machines), does not mean you understand the many choices and how to make the right move for your market and your Institution. While many ATMs and ITMs look very similar, what they are capable of is incredibly different. This article breaks down the details on self-service for everything you need to know.
You know how every time you walk into a Target store, it feels like a Target? No matter the location, you’ll see their iconic red, a flooring combo of carpet in clothing sections and tile everywhere else, the same lighting, hardware, and other fixtures—and the smell will even be familiar. It is this consistency that makes them such a large and recognizable brand. You may be wondering, what is it exactly that allows Target to stay so consistent? The answer is their commitment to design, with a program known as Design for All. This blog breaks down this approach and what financial institutions can learn from it.
For many financial executives, the annual ‘strategic planning’ serves as a rite of passage for the upcoming year. But unlike years before, 2022 will look a little different due to post-pandemic market conditions. If you have plans to remodel or build new branches, there are a lot of things you will need to consider. Look like an expert and avoid missteps with these ideas.
If you completed a quick Google search on the total number of branches today versus 20 years ago, do you think there are more or fewer branches today than back then? The right answer: less. In fact, just over the past five years, the number of branch locations in America declined by 7%. However, even though you might feel like branches are disappearing, if you look beyond the numbers, you’ll find a different story. Rather than disappearing, banks and credit unions are merely reinventing themselves for the digital age. And while they are reducing their branch count, at the exact same time they are increasing the value of the branch for a client. How exactly are they doing this? This article answers that question.
74% of consumers visit the branch at least 5 times a year. Yet 60% of consumers DO NOT have a banking relationship with a staff member of their branch (TimeTrade). This should tell you two things: (1) Your branches are still needed, even in this shift to digital and mobile, and (2) Your branches are not serving their purpose as advisory centers, but rather as expensive transaction centers. So, what’s standing in the way of delivering a branch experience that generates valuable relationships between your clients and your staff? We’ve found that there are several common barriers to effective sales and service and covered how to overcome them in this blog.
When it comes to leveraging digital signage in your branch environments, there are a ton of options surrounding screen type, placement, and content being played on it. And all these different potentials can easily lead to a ton of confusion if you don’t have a solid strategy. To help avoid this confusion, we’re covering the 3 biggest components of a successful digital signage roll-out (screen type, screen placement, and content), along with 7 content strategies for how banks and credit unions are using their displays.
Enjoy all the crowd-pleasers listed above, and have a Happy Thanksgiving!