Money Services Businesses are a unique retailing environment with distinct challenges. Adaptive Signage can help elevate your customers’ experience to the next level.
Tell people your business
Businesses in this sector must meet the needs of a variety of demographic segments, demanding service levels, stringent regulatory requirements and limited physical space in customer lobbies.
All these factors make it difficult to create an effective in-store marketing tool that is capable of reacting to real-time product demand, availability and customer diversity. Among these challenges, two especially stand out:
- Perceived wait time
- Product cross-sell
You might think that a person typically coming in to cash his/her pay cheque would know that you also provide bill payment and prepaid products? And even more importantly, that they would think of your store as the place to get these services the next time they need them?
But the data indicates otherwise. Some of the studies performed in the industry show that less than 20-25% of consumers could name 4 or more products offered by that location, despite the fact that there are posters on the walls and signs in the windows.
Digital signage is visible
The solution that many progressive operators are starting to turn to is digital signage. Consider these studies done by various industry think-tanks:
- Digital signage receives 10x the eye contact of traditional signs
- 70% of buying decisions are made at the point of purchase
- Products or services profiled through digital signage typically see an increase in sales from 30 – 300%
Tailor content to dwell time
Couple the above results with what can be achieved by addressing the second challenge of the business — wait time.
As your customers stand in line, waiting to be serviced by the next available teller, you are losing a perfect opportunity to market your products and services to them. An effective digital signage system communicating your brand, your services, regulatory disclosures, and some entertainment content (such as trivia, fun facts, and up-to-date news/weather information) “…can reduce perceived wait times by 15% or more” according to the Strategy Institute.
To learn how you can begin profiting from this affordable and effective digital signage technology, please contact us today.