Skip to main content

Pitfalls Financial Institutions Are Making With Their Digital Signage

Financial institutions and digital signage

When leveraging digital signage for financial institutions, there are several traps you’ll want to avoid falling into.

However, when used effectively, without doubt there are wide-ranging benefits of digital signage for financial institutions. 

According to Nielsen data, 64% of those viewing a digital place-based advert will then take action afterwards – but there’s less chance of success without the right strategy in place.

Here are some of the common pitfalls we’ve seen associated with digital signage for financial institutions.

Too much text

Less is more.

Unless customers are close to the screen, they’ll struggle to read a lot of small text – where appropriate, imagery could be more effective.

While one way around this is to spread the text out over multiple changing screens, they’re unlikely to see all of them except for when they’re in a long queue.

Too much text also risks the message being hard to understand, depending on the branch location and demographic, or any customer language barriers.

Infrequent updates

One of several benefits of digital signage for financial institutions is it gives you a quick and easy-to-update content format.

However, keeping this content fresh is vital. 

Otherwise you’ll risk customer disengagement through constant repetition, or continuing to advertise already-expired promotional offers.

Creating a content calendar is a good way to keep material up-to-date, by scheduling automatic changes to digital signage for financial institutions far in advance.

No clear CTA

Performance advertising should have a clear call-to-action (CTA), in case your customers don’t understand what they should do next.

For digital signage with touchscreen capabilities, this is straightforward – just tell them where to click and why.

Otherwise, encouraging consumers to scan QR codes from the screen is a great way to drive them to your website.

According to Statista, nearly half of US and UK consumers agree, or strongly agree, that they’ve seen an increase in QR code usage since the first COVID-19 lockdown in March 2020.

Furthermore, 40% say they have scanned a QR code today or during the past week.

No metric measurement

Finally, one of the most common pitfalls is starting a digital signage campaign without first setting up a way of measuring success.

Whether the purpose of your digital signage is to share information or drive action, there’s no way to tell if it’s meeting your goals without at least one trackable KPI.

For example, the metric could be the number of new website visits or app downloads since a QR code was included on the screen. 

Or it could be the number of times an in-store customer asks a member of staff about something mentioned on the display.

Using a high quality kiosk solution, which puts the customer first, is one of the first ways to avoid the various pitfalls of digital signage for financial institutions.

To find out more about the benefits of digital signage for financial institutions, please contact us and we’ll be happy to help you.