The nature of financial institutions such as banks has evolved. Many services requiring customers to visit a bank location physically are now offered online through the bank app and self-service solutions.
Nevertheless, as a bank manager, branch director, or anyone looking to optimise customer flow, understand that your customers will still have to take a trip down to your business premises for other reasons requiring their physical presence, meaning there is still a very solid chance that your customers will have to wait in line to be served by your bank staff.
It is this waiting that many of your customers get frustrated, which could cause a loss of business for your bank. This is especially true for busy branches.
But what if there was a way to streamline queuing, enhance customer experience and satisfaction, and generate additional revenue?
Digital signage offers a powerful solution for bank queue management.
This post will discuss 13 key benefits of implementing digital signage to transform your bank’s queuing system.
Let’s review!
1. Reduced perceived wait times
Research has shown that waiting to be served has a more significant impact on satisfaction than a delay while you’re being served.
This indicates that a customer who gets served faster but experiences a delay with the teller will still be more satisfied than one who has to wait longer, even if the overall time is the same.
It’s vital to ensure that your customers are served quickly. Hence, it is also essential to manage their perceptions of how long they’re waiting and their expectations.
Banks have managed customer waiting perception by using static posters and brochures in the past. Thankfully, those days are gone. With the help of digital signage technology, long queues no longer feel endless.
Smart banks are now strategically placing digital signs equipped with audiovisual systems throughout the waiting area to ensure all customers have a clear view. The digital signage displays live queuing information, and banks can also run adverts, multimedia content, and engaging material, maintaining customer engagement while inside the bank branch.
These engaging digital signs help reduce the waiting stress and enhance the customer experience in the waiting area.
You may also like: 15 Effective Ways to Reduce Perceived Wait Times (Explained!).
2. Improved customer communication
Sometimes, customers walk into your bank to make an enquiry that needs to be answered, but long lines and a lack of information can be a recipe for frustration. Thankfully, using digital signage technology, banks can easily display dynamic wait times that update automatically based on queue length.
By using display signs, you can deliver relevant information specific to different services or areas of the branch directly to customers.
This allows customers to plan their time more effectively, receive the necessary information without unnecessary delays, reduce anxiety associated with unknown wait periods, and improve their experience on your business premises.
Besides using digital signs to improve customer communication, you can maximise digital signage for informal communication with your team, such as communication meetings after hours.
Simply install it in employee areas to display key performance indicators, the latest staff news, and to celebrate your top performers.
3. Provision of multilingual support
When considering improving customer experience and queue management in branches, we often forget to cater to foreign-language speakers, particularly in geographic regions where the population speaks multiple languages.
Fortunately, digital signage can help. We’ve already established how digital screens are the ideal way to display information, and multilingual support is no exception.
Consider how much significant page real estate is lost when traditional sign vendors are required to display the same information in two, three, or even four languages.
With digital display signage, you can cycle across displays using different languages without having to jam several translations onto a single page.
Regarding queue management, the multilingual feature allows you to display wait times in multiple languages, ensuring clear communication with all customers.
4. Efficient queue flow
Like any other organisation, banking institutions offer multiple services in their branches. Some branches provide dedicated counters for some services, and there are no counters for others.
Some services are stepped services that require customers to go to several counters for complete service delivery.
Some banking organisations provide different priority levels for customers, such as VIP or premium customers, customers with special needs, regular customers, etc.
Some allocate specific counters for specific customers. All these variables make customer routing and customer flow management more difficult.
The complexity of these variables often leads to mismanagement and unnecessary service delays, which negatively impact customer experience.
This is where digital signage becomes a pivotal tool for bank queue management efficiency.
Digital displays strategically placed throughout the bank can dynamically route customers according to the business’s pre-determined protocols and policies, making the customer flow smoother and quicker.
Consider this scenario:
Imagine a customer walking in and seeing a digital display indicating that Counter 3 is open while Counters 1 and 2 have longer lines. Without hesitation, the customer heads straight to Counter 3, bypassing the congestion and saving time.
The benefits of digital signage transcend customers; your staff also benefits. With digital signage directing customers, your employees can focus on serving rather than constantly redirecting.
The result is a smoother flow of people, reduced wait times, and improved overall efficiency.
Moreover, these displays can be integrated with queue management systems, allowing customers to take a virtual "ticket" through the digital interface. They can then relax in the waiting area until their number is called.
This reduces physical queues and enhances the customer experience, allowing them to browse, sit comfortably, or attend to other tasks while they wait.
5. Increased sales opportunities
Traditionally, waiting rooms haven't precisely been a prime real estate for generating sales. But with digital signage, those long queues can be transformed into valuable opportunities to promote additional services and products to a captive audience.
Unlike generic posters and brochures, digital signage tools like Luna Screens can help you display targeted ads that showcase products and services relevant to the specific customer segment waiting in line.
For example, you can advertise investment products near the wealth management area, promote student loan options near the customer service desks catering to a younger clientele, or display targeted ads for homeowners insurance or home security packages to customers waiting for a mortgage appointment (you get the picture).
Incorporating testimonials and urgency/scarcity tactics into your promotions can help you build trust and encourage your customers to consider the advertised services or products.
6. Improved customer experience
Improving the customer experience in your bank’s branches is paramount. Digital signage for queue management goes beyond merely providing information; it offers interactive self-service options like self-service kiosks that put control directly in customers’ hands.
Imagine a touchscreen display near a bank’s entrance. A customer walks up and is greeted with options: “Deposit,” “Withdrawal,” and “Account Balance.” With a few taps, they can initiate their transaction without waiting in line for a teller.
Such self-service solutions not only save time but also give customers a sense of empowerment and control over their banking needs.
However, in the case of the older population, not all of them are tech-savvy when it comes to the use of self-service options, and so many will end up waiting for a staff member to attend to them, which adds up to the crowd that may require management.
With digital signage, display signs can inform customers about all available options, including those that may speed up time spent in queues, contributing to a better overall experience with your company.
You may also like: How to Leverage Digital Signage for Unforgettable Customer Experiences.
7. Enhanced brand image
According to a Zendesk report, 73% of consumers will shift to a competitor after multiple bad experiences. This indicates that your customers always expect excellent service when they visit your bank.
If your customer has a bad experience due to poor queue management in your branch, it contributes to a negative brand image for your bank in the eyes of your customers, while a good experience impacts your brand image positively.
As we have established, digital signage can help with queue management.
With interactive digital displays that help speed up an audience's perceived wait time while simultaneously decreasing their actual wait time, your bank’s brand awareness and recognition are enhanced, making it more likely that your customers will remain loyal to your bank for a very long time.
8. Improved staff efficiency
Long queues and frustrated customers can put a strain on any bank's staff. Digital signage can be integrated with your existing queue management system software to help minimise stress for both your customers and staff.
By automatically displaying real-time wait times, queue positions, and estimated service times, you eradicate the need for workers to manually update physical signage or announce customer wait time, reducing their workload and minimising the risk of human error.
Also, with digital signage, customers do not need to directly contact your bank representatives to identify and resolve their complaints because all the information is available on digital screens.
Including ticketing status and other critical information on digital screens reduces wait times and enables employees to focus on their core duties.
By removing queue distractions and disruptions, counter employees can provide better and faster customer service and deliver exceptional customer waiting experiences.
9. Optimised data collection process
Digital signage integrated with a queue management system can gather feedback from customers engaging with the displays in your banking halls.
Customer data gathering is critical for any organisation that wants to manage queues effectively to improve the experience, efficiency, and satisfaction of its staff and walk-in customers.
Using digital signage integrated with a queue management system, banking institutions can monitor customer traffic through intelligent analytics to figure out patterns and trends like:
Peak visiting hours
Fluctuations in foot traffic or footfall
Dwell time
Average dealing time per customer
Demographic insight
Optimum customers’ Willingness to Wait (WTW)
This continuous data collection can help you understand customers’ behaviour and preferences and analyse the weak areas of your services to improve customers’ experience with your business.
For example, through data collection and analysis, you may discover customers complain of frustrations during peak hours in your banking premises due to delays and long queues.
This information empowers you to implement strategies and tools to help minimise or eliminate delays or long queues.
Thankfully, companies can retain 95% of dissatisfied customers if they address their customer’s grievances.
10. Simplified wayfinding
In large banking halls, if customers can effortlessly find what they need without feeling lost or confused, the experience is much smoother.
If customers are consistently getting lost, satisfaction with your business will decrease.
With a digital signage wayfinding solution around your banking hall, you can direct people to the correct queuing area for heightened efficiency.
Moreover, unlike paper posters, on-screen content can be immediately updated to display changes in branch layout or service locations.
This digital signage for queue management helps ensure smooth operations.
If customers know where they are going, they can navigate effortlessly, reducing frustration and saving valuable time. This enhances customer satisfaction and creates a more welcoming and user-friendly environment.
11. Cost savings
While traditional queue management requires time, money, and effort, digital signs help you manage queues and delays with minimal effort and time.
Although the initial setup of digital signage or a queue management system may require an investment, the long-term cost savings outweigh the upfront costs.
When queues are manually managed, staffing is required to handle the task, especially in a busy branch.
However, the process is automated with digital signage integrated with a queue management system, and a specialised team is unnecessary. As a result, it helps save time and energy immediately while saving money over the long term.
Furthermore, digital signage can be quickly and remotely managed. These tools are internet-connected, so you only need a computer device to create and distribute the data.
Related reading: Maximizing ROI with Self-Managed Digital Signage: A Comprehensive Guide.
12. Flexibility in content scheduling
Digital signage offers a level of content control that traditional static signage simply can’t match. With scheduling flexibility, banks can ensure the correct information reaches the right customer at the right time.
This ensures that communications stay accurate and relevant at all times.
With traditional signage, businesses are limited to nondynamic static images and text.
However, with a digital signage solution like Luna Screens, you can update your messages without deleting your current schedule. You can also make these changes as often as you like, in real-time, to suit your needs.
For example, you can schedule content to rotate throughout the day to prevent boredom and ensure repeat visitors see fresh information. It doesn’t matter if you have one screen or ten screens.
Regarding queue management, you can integrate dynamic content management systems into your digital signage software to achieve personalisation at scale.
For example, during morning rush hour, you can showcase information via a content management system to remind customers about using quick and easy services like ATM deposits or mobile banking features.
Also, have you noticed that banks tend to be busy with customers close to closing hours?
At such times, you can promote the benefits of online banking or mobile app options for after-hours transactions, preventing future congestion.
You can also use it to dynamically display currently available and unavailable services, such as “Mortgage Consultation Available at Desk 5” or “Loan Applications at Counters 2 and 3.” This transparency ensures customers don’t waste time standing in line for a temporarily unavailable service.
Using digital signage to promote such messages will help reduce the crowd in the bank, thus helping with queue management.
13. Provision of real-time information
Gone are the days of static signage displaying outdated information. Digital signage empowers banks to provide customers with real-time updates.
Customers appreciate knowing what to expect when they walk into a branch, and real-time updates on wait times and service availability achieve just that.
For instance, a digital screen near the entrance might show: “Average wait time at Counters: 1 minute” and “Available services: Deposits, Withdrawals, Account Inquiries.” With this information, a customer can decide whether to come in now or wait for a quieter period.
Real-time updates also benefit bank staff by reducing customer inquiries. Staff can focus on serving customers efficiently instead of constantly fielding questions about wait times. This improves staff productivity and helps customers build trust in your brand.
Takeaway: Shorten wait times and lengthen customer satisfaction with Luna Screens
Digital signage is helpful for financial institutions like banks, as it allows them to promote their services to customers while assisting with queue management.
Digital signage helps speed up an audience’s perceived wait time while decreasing their actual wait time through better organisational efficiency.
This enhances customers’ loyalty and builds trust in banking services. Note that installing digital signage in your banking halls isn’t just about creating distractions; it’s about adding value to your customers' visits.
Ready to learn more about how digital signage can transform your bank’s queuing system? Explore our powerful scheduling rule-based system, which allows businesses to transform any screen into digital signs.