The increasingly complex financial services landscape
Digital media in the branch
The ATM as digital media device
The importance of measurement
Research and results: The psychology of in-store media
The bank branch, much like any other place of business, has undergone a radical shift in the past two decades.
Sociologists can do a far better job than I at explaining why our retail stores, banks and restaurants look so different today than just a few years ago. Part of it is competition, no doubt, the constant need to offer new enticements to get customers to walk in your door rather than the one next door. Part of it is the sheer proliferation of products and services, more than at any other time in history. And part of it is a populace that is growing smarter by the day and more aware of what they can expect from you.
But I would submit that the greatest driver behind the change in the face of the business world is a heightened understanding on the part of the consumer about the experience he is having when he does business with you. Twenty years ago, it was enough for a café to have really good coffee at a price that was considered fair; today, that café needs to also factor in all of the emotional trappings of the in-store experience, such as color scheme and ambient music, right down to the aesthetic value of the furniture.
These things have always been important on some level, but todays consumer is much more demanding when it comes to him. Todays consumer knows that hes not just paying for the coffee, hes paying for the whole experience surrounding that purchase. And he wants that experience to be a good one.
For financial institutions, this shift comes at a pivotal time. Many of the transactions that once required a trip to the branch are now done from the home computer, and online financial services providers are snapping at the heels of large banks, offering attractive rates and terms.
As it has done with retail, digital signage allows banks and financial institutions to hone the in-store experience with a level of precision and visual appeal that has never before been possible. It is an evolution that is in process, and one that will result in the total reinvention of the bank branch.
Id like to thank ADFLOW Networks, whose kind sponsorship of this guide allows us to provide it to you at no charge.