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Use self-service coin counters to bring in foot traffic

Use self-service coin counters to bring in foot traffic

All businesses do what they can to increase foot traffic from customers, including banks with self-service coin counters.

As a recent report from The Republic pointed out, the days of receiving a free toaster when you open a checking account are being replaced with increasingly more unique marketing efforts.

These include everything from free gasoline to expensive electronics. One financial institution in Russia has even gone so far as to promise cats to consumers who take out a home loan with the bank.

However, something as simple and practical as a self-serve coin counter can represent a great way for banks to bring in business while also saving tellers time.

Bringing people through the door

While we may be living in an increasingly card-friendly society, people still find themselves emptying their pockets at night only to find spare change. These coins are typically set aside into a pile or jar before enough have been gathered to necessitate a trip to the bank.

However, one thing often stands in the way of consumers following through. They may be wary of having to visit their nearest branch only to find themselves waiting in a long line to exchange coins for cash. Having to roll them up to exchange them also represents a hurdle many consumers would rather not clear.

By introducing a self-servecoin counter at your bank, you can cut out the middle man and make it that much easier for customers to conduct their business quickly and simply. The increase in foot traffic can then be used by banks for the purposes of cross-selling and creating new business opportunities. After all, a rapt, in-person audience lends itself more readily to other banking initiatives.

One study from Cummins Allison found that these machines brought in approximately 250 coin redemption customers each month to branches that had them.

September 9, 2014