There's more to an ATM upgrade than simply purchasing new machines and placing them inside a branch lobby. Financial institutions are missing out on unique opportunities to enhance business by attaching branded graphics to these devices. Rather than maintaining the same blank exterior, banks can create a more inviting atmosphere for their customers by using visual marketing devices on the technology throughout the branch.
It turns out a large number of enterprises are letting these possibilities go by. Vance Rowland, president of a South Carolina-based ATM deployer, wrote in Transaction World magazine about the many benefits of taking advantage of the space on these machines to introduce visual branding. According to Rowland, financial industry experts believe that nearly half of the ATMs in the U.S. currently have no unique graphics or design elements. This is despite the fact that branded machines typically turn out to be much more lucrative for banks - in many cases 20 to 40 percent more so than with devices that are left without any messaging or images.
Researchers have put a lot of effort into the understanding customer experience at a bank branch. For instance, a recent report from the signage company Companion Systems revealed that financial institutions can attract more ATM users by surrounding machines with bright LED lights. LED technology may also reduce energy costs for banks in the long run.
Banks that have plans to upgrade their in-branch ATMs may want to consider installing visual branding and messaging to maximize the effectiveness of these machines. Advanced technology and convenience make up only part of the overall customer experience in the banking industry. Marketing and design also have a major impact on the ability to drive traffic and increase profits.
March 31, 2014