DBSI asked over 200 banks and credit unions everything about their digital signage — what’s working, how much they’re spending and what’s most proven most effective.
In the first benchmarking study fielded by the branch experience firm, DBSI’s report examines the types of content most financial institutions run on their digital signage and where they are finding the most success with digital signage. Most banks and credit unions surveyed (73%) feel digital signage has improved their sales efforts, and many (42%) plan to increase budgets for 2015.
77% of those surveyed say they have digital signage in at least one branch, and nearly half have digital signage in 100% of their branch network. More than half of respondents (53.5%) have digital signage in the majority of the branches, with 31% having digital signage across their entire branch network. However, two in five financial institutions only have digital signage systems in less than a quarter of their branches.
Nearly two-thirds (64%) of respondents in DBSI’s said they use a mix of digital signage types, with the majority using a combination of screens and interactive kiosks.
According to DBSI, the majority of financial institutions (66%) who spent less than $10K on digital signage only deploy screens/monitors. Once any other type of digital signage is added, the amount spent jumps significantly. Also, size positively correlates with spend. 80% of the financial institution who spent less than $10K have less than ten branches in their network.
42% of financial institutions in the DBSI study said they plan on increasing their digital signage budget this year. Another 55.5% plan on keeping it the same as 2014; only a handful said they intend to reduce their budget in 2015 (quite possibly because they rolled out a new system in the previous year
Many financial institutions rely on ad agencies to create content for their digital signage systems. 60% of the financial institutions surveyed use an agency in some way to create digital signage content. Over one-third (34.5%) use a agency to create the majority, if not all of their digital signage content. only two in five handle everything in-house.
Three-fourths of those surveyed have a mix of at least three kinds of content running, while almost half having a mix of five or more different types of content running.
You can download the free report, “Digital Signage Benchmarking Survey 1.0” from DBSI to see what other financial institutions are doing with their digital signage along with several key takeaways and trends.