As important as the price-value perception is for customers, research also shows that customer experience plays a more powerful role in driving customer loyalty, especially for banks. According to Go.forrester.com, as much as 55% of loyalty is accounted for customer experience while combined with price-value; it climbs marginally to 56%. What it means is that traditional banks with walk-in branches should focus on giving customers great customer experience for achieving higher customer loyalty. As has been demonstrated by the retail industry, digital signage helps keep customers better informed and happy. The same technique, if adopted by banks will result in bank customers having a superior customer experience during their branch visits. Some of the top benefits of digital signage solutions for banks:
Superior Customer Experience for Branch Walk-Ins
There has been a transformational change in retail banking. Customers have switched from the necessity of having to visit the bank branch to carry out their banking needs to a digital mode wherein they can do everything they need using a laptop or even a smartphone. Consequently, when a customer does visit a brick-and-mortar bank branch, he wants an exclusive experience without having to relinquish the familiarity and convenience of a digital screen. Digital bank signage enables banks to provide personalized service without needing the customer to forsake the digital experience.
Better Queue Management
While customers do not like to wait for their turn at a bank counter, often they have to because there are other customers in the queue ahead of them. While the bank tries to expedite the transactions, customers need to await their turn with a token number. With digital signage announcing the token number being served at any point in time, customers can estimate easily how much time it will take for them to get to the counter. Bank staff will no longer have to keep on answering customer queries regarding how long they will have to wait. Important banking information and entertaining videos can make the wait more pleasant.
Easier Dissemination of Information on Products and Services
In-branch digital signage from Raydiant is a very effective way of informing customers about the latest products and services introduced by the bank as well as information on products and services being cross-sold or up-sold. The communication can be made more engaging with attractively designed banners, carousel displays, and videos with intervals of entertaining content.
Certain data like rates of interest on various financial products as well as currency exchange rates are dynamic and can change at very short notice. The latest information can be displayed very conveniently on the digital signage in strategic locations inside the bank branch. By being able to display the current rates conveniently, it saves the bank the time, effort, and expense of printing new rate charts and posters.
Digital signage, being computer-based is extremely flexible and versatile. Not only does it allow the bankers to schedule announcements in advance but also lets them customize the content as per individual branch requirements, including messaging in multiple languages. The digital signage solutions can also be used for the bank’s staff training purposes and announcing policy and product updates.