Harris Bank (owned by Bank of Montreal) is one of Chicago's oldest community banks and, with roughly 200 branches in the metropolitan area, one of its largest. Starting in 2001, the bank began experimenting with digital signs in its branches, first in high-traffic urban areas, and eventually made the decision to roll out to its entire network.
The bank adopted digital signage to address two key recurring issues: 1) long teller queues in its urban locations, cited as a primary source of customer dissatisfaction, and 2) generally low awareness of its broader (non-DDA) product portfolio, which was inhibiting cross-sell opportunities. The bank's branch communications weren't helping either problem--in fact, in one audit only 39% of customers could recall seeing a marketing message during their visit. In 2001, the bank initiated a pilot test, where it installed an LCD screen behind the teller counter in 13 urban locations, and eliminated all other print communications from the branch. The screens showed a mix of brand, promotional, and community relations/sponsorship content spots, interspersed with local news, weather, and sports updates.
At the end of three months, 89% of customers surveyed could recall a message they saw during their visit (compared to 39% in cohorts), and more than half indicated the screens improved their branch experience. The bank has also hinted that it observed a lift in cross-sell ratios during the pilot, but has yet to publish the results. In a Chain Store Age article, Joseph Teller, VP of Marketing Services, said the bank had finally found a medium that "successfully intermingles the product and services messages in a format that attracts and retains customer attention."
While there is certainly nothing revolutionary about the screen-behind-teller installations, to my knowledge Harris was one of the first to begin customized content (community events and news) on a branch location basis. Marketforward provides network management software and content services for the network.
(photos taken from Marketforward website, and digital retailing expo conference presentation)
15 comments:
Updated information- all 150+ displays have been retrofitted with NEC's 4010 and 4020 series 40" LCDs, replacing all of Planar's inferior technology that failed after less than 2 years in the field.
Ouch...what an expense for the bank. Blog entry updated accordingly.
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