When people walk into a bank, credit union, or financial institution, they need assistance. They are looking for information, guidance, and support regarding one of the most important things in their life -- their money.
In recent years, branches across the country have been experimenting with new ways to get visitors the support they need as efficiently and effectively as possible. These branch transformation projects have often involved investing in advanced technology, developing flexible “mobile branches” and approaching visitors with elevated care and customer service more often associated with retail shopping than a trip to the bank.
Many of these improvements fall under the umbrella of “financial institution in-store marketing.” This guide will introduce you to the basics of marketing to the people inside of your branch and help you to improve the overall experience of your visitors.
What Is Financial Institution In-Store Marketing?
Financial institution in-store marketing is a series of tactics and tools that help you communicate and share messages with customers who are inside of your physical store location.
While the name might make it seems like these strategies are solely for marketing to your customers, it can do far more than that.
In addition to promoting your products, programs, and services, in-store marketing can also help you:
Improve customer experience
Build brand loyalty
Support your customer service representatives
Help your customers make better, more informed financial decisions
Here are a few ways you can use financial institution in-store marketing to support your business and your customers.
Inform and Educate Through Digital Signage Content
Finance can be a confusing topic. As a financial institution, it’s part of your job to educate your customers, improve their financial literacy, and help them make the best decisions for their finances.
These tasks are easier when you have digital content tools. Displaying digital content helps customers learn about their financial options. It also makes it easier for your team to work with customers as they are better educated when they arrive at the meeting after viewing digital educational content.
You can use digital signage to inform and educate your customers in a variety of ways.
Position digital waitboards and menu boards in your waiting areas to educate and engage customers while they wait to talk to your team. Waitboards help reduce perceived wait-times while also sharing useful, educational information with customers.
On your waitboards, share engaging videos that explain financial terms, management tips, best practices, and exposure, fraud and security risks. People retain and absorb information better when it is present through visuals instead of text alone, so use multimedia content to teach customers about financial topics.
Share content on digital menu boards that explain your financial products. Use text, video, and animation to explain what services you offer and how they benefit customers. Customers often don’t know about all of their financial options so use the content to introduce services and offerings guest may not know about.
For more tips on what you can do with digital screens in your financial business, check out our guide: 5 Ways Your Bank Should Be Using Digital Screens (But Isn’t).
Connect and Reconnect Through Mobile Devices
Screens on your walls will catch the attention of customers while they wait in line or sit in your waiting area. But, these aren’t the only screens you can leverage through financial institution in-store marketing.
You can also use the screens that customers have in their hands through WiFi marketing.
With WiFi marketing, you offer customers free access to your in-store WiFi. Once users sign in to your service, you can connect with them in multiple ways.
When users log in to your WiFi, require their email address or phone number. Once you have this information, you can remarket to guests by reaching out to them with marketing messages at a later time.
Use splash welcome pages to share messages when guests log in. Set up custom landing pages with promotions or educational material so customers see it as soon as they log in.
Drive customers to connect with your social media channels. You can also prompt audiences to view and follow your brand’s social media accounts which gives you another way to reinforce your brand.
Get a better look at the power of using WiFi marketing in your financial institution. Check out our post on: How WiFi Marketing for Finance Offices Connects Customers with Your Business.
Influence Action Through Overhead Music and Messaging
In addition to paying attention to the visible content around them, customers in your financial business are also listening to the sounds in your location.
Whether they realize it or not, customers are being influenced by both the music and messaging playing through your overhead sound system. Here are a few ways you can use in-store sounds to guide and help customers.
Choose music that matches the mood of your business. Depending on the type of financial business that you run, you may want customers to quickly get in and out or wait and spend time in your location. Reflect on the type of customer experience you want to create and chose the best tempo for background music in your store.
Share important messages, updates, and information through overhead messaging. Capture the attention of people already in your store by sharing details about special deals, upcoming events, and new product offerings.
Consider how your music impacts your employees. In-store marketing, especially overhead music, impacts employees as much as customers. So as you create a playlist for your location, choose music that will motivate your team and not annoy them so they can be in better moods while serving your customers.
To learn more about the power of using overhead music and messaging in your financial business, read our post on: How Finance Overhead Music Changes Customer Behavior.
Launch a Financial Institution In-store Marketing Plan
Financial institution in-store marketing sounds like a plan for selling to customers who are already in your location. It is -- but it’s also much more than that.
In-store marketing also gives you the ability to build better relationships with customers by educating clients on their finances and providing a better experience in your location. Using the tools and tips mentioned in this post, you can improve your marketing strategies, all while building brand awareness and customer loyalty and affinity.
See how you can bring these in-store marketing strategies to your financial institution and contact Spectrio today. We’re a one-stop shop for in-store marketing tools that connect with customers and support your business operations and marketing plans.
For more information, grab our free ebook that shares even more ways to use audio and video to create amazing in-store experiences for customers.