5 WAYS TO MEASURE

THE IMPACT OF YOUR DIGITAL SIGNAGE SOLUTION IN BANKING

One of the most critical steps in digital signage decision-making is often overlooked: defining your solution’s purpose and measuring its effectiveness. If it looks good and feels good, then the assumption is it must be working.

That assumption is wrong.

Without measurement, there is no clear picture of whether your solution is contributing to your results. Lack of clarity leads to doubt and doubt leads to questioning the solution and the investment.

With customers doing most of their banking outside the branch, taking advantage of each visit is more important than ever. Digital signage can successfully attract people inside and then inform them about products and help close sales. Establishing metrics for that signage is the only way you know whether it’s making the contribution you need.

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Why measure the impact of digital signage?

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Confirm that your program is working. Establishing a baseline, creating benchmarks and monitoring as you go ensures that your strategy is successful.

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Keep everyone on the same page. Measurement brings performance front and center. All involved know what’s going on and there’s no confusion about what’s important.

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Improve accountability. No one can blame information gaps for issues or duck responsibility for performance.

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Make better decisions faster. You can’t confirm – or adjust – your strategy in a vacuum.

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Expand with confidence. Data gives you ammunition to make your program bigger and better.

Five top metrics for digital signage in banks

The measurements you choose should coordinate with the objectives for your program.
That being said, here are five common metrics to consider:

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BRANCH TRAFFIC

If you’re using street-facing displays, how effective is your signage in drawing people in?

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PRODUCT AWARENESS

Do your customers know more about what you offer? Do they remember product information or brand positioning?

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PRODUCT UPLIFT

Is that awareness translating into sales of the products you’re promoting?

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EMPLOYEE ENGAGEMENT

Do your associates feel equipped and empowered to do their jobs? Is your employee-facing digital signage helping them talk more confidently with customers and close sales?

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CUSTOMER ENGAGEMENT

Are customers using in-store kiosks or being helped by associates armed with sales assist tablets? How does that relate to sales?

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A word about reports

To modify strategy for your program, quarterly reviews of your digital signage metrics will give you the data you need to make good decisions. But for non-strategic changes, such as content tweaks, digital signage gives marketers the ability to test and adjust very quickly. Take advantage of it and make changes on the fly whenever results tell you to.