Digital Signage in the Financial Industry

October 2012–Banks, credit unions and financial institutions of all types are beginning to successfully implement digital signage in efforts to communicate more directly with their customers. For example, in ING Direct’s cafes, digital signage is used to not only entertain, but also engage potential customers who have stopped in for a drink and may not be aware that ING is a financial institution. Their signage content is designed to introduce ING as a company as well as inform their potential customers of the advantages their company offers.

Another example is Caja Mediterráneo in Spain, which uses digital signage networks to display brand information in eight different languages in attempts to promote to as many people as possible. It also displays community news, including home listings, help-wanted ads and more in an effort to relate more personally to their viewers. They then display weekly sales results for each branch to achieve more interest in their company.

CIMB, a Malaysian bank, has also recently implemented digital signage messaging solutions. To improve overall staff efficiency and move customers over to a more self-sufficient service option, a variety of digital signs have been installed into different branches, each with a specific purpose. One example of their signage uses is their “queuing tree.” This sign encourages customers to take a number as they enter the branch. The tree on the screen then fills with leaves, and as once the leaves turn red, the staff on hand are informed that the store is full and that they should both turn on more signs with information as well as place engaging with customers as the main priority.

It’s easy to see how digital signage can boost your sales. Sleek and efficient, these signs eliminate the cost for printed media, the time it takes to change out signs and distribute static materials and allows messages to be more specific and personalized. But there are also other influences on a customer’s decision, making it harder to pinpoint digital signage as the cause or the lone cause. For this reason, it is always ideal to implement digital signage as a part of a larger marketing campaign, one that potentially includes online ads, TV commercials, sample products and more. But unlike those other advertising mediums, digital signage allows messages to be completely customized to time of day, store demographics and provided customer information.

In a recent study done by NAFCU, many locations that implemented digital signage saw:
– 200% increases in awareness of bank offers
– 400% increase in recall or two or more messages
– 62% reduction of perceived wait time