20 digital signage statistics every credit union marketer and retail leader should know

If you’re responsible for the success of marketing and communications at your financial institution, the importance of digital signage isn’t something to overlook. Well-crafted digital signage not only improves the client experience and generates more leads, but it also assists your team with advisory conversations, improves corporate communications, and works to drive profit across your network.

Want proof?

For the 9th year in a row, DBSI surveyed FI marketers and leaders around the U.S. about how they’re leveraging visual communications and what their marketing programs looked like. They then took this data and compared it to their decade’s worth of existing interviews with banking leaders and creative teams to created yet another informative, comprehensive report to help you understand the current and future state of digital marketing for financial institutions.

Here are 20 stats you can’t afford to not know…

Digital Signage in Banks and Credit Unions: It’s Everywhere!

Walk into any bank or credit union lobby today and you’ll most likely see a digital signage display on a wall or in some high-traffic location. Hugely popular in branch networks worldwide, digital signage often highlights things like product and service offerings, financial insights, community information, and branch hours. It’s also used to advertise corporate branding in a creative way and give branches a modernized look that’s both inviting and inspiring.

Curious just how popular this technology really is? Here’s how much digital signage has advanced from nine years ago when only half the institutions we interviewed were using it:

1. In 2022, 90% of financial institutions used digital signage in at least one branch; that’s up 10% from 2021.
2. Almost 50% of all financial institutions have digital signage placed in over 75% of their branch locations.
3. Only 10% of financial institutions do not use digital signage in their branches.
4. 62% of financial institutions that utilize digital signage have more than one digital display in each branch, with the average number being three.
5. 43% of financial institutions with over $5 billion in assets use interactive displays in their branches.

Content Creation is Key to Digital Signage Success

Good content strategy involves the right set of creators crafting the right sets of communications for your digital signage. The problem is—many financial institutions we’ve surveyed don’t have enough in-house staff or time to build out campaigns, let alone deploy content.

How are you handling content creation at your financial institution?

To maximize efficiency, it’s often beneficial to consider a full-service partner who can handle everything from strategy and writing to design and development. Some of these findings might convince you:

1. 4 out of 10 financial executives don’t feel confident about their digital marketing content creation.
2. Most financial executives feel they’re lacking in best practices for digital signage, including content strategy, creation, and management.
3. The average financial institution’s marketing team consists of just two people, with larger asset sizes having larger teams which comes as no surprise.
   
4. Financial institutions that outsource 100% of their digital signage content creation to agencies spend just 2 hours per week working on content while financial institutions that do 100% of their content creation in-house spend at least 8 hours per week working on content.
5. When it comes to content creation, almost 70% of financial institutions plan to increase spending in 2023. Spend your money and time wisely.
   

Effective Digital Signage Boosts Marketing Strategy, Sales, and Profits

Here’s where ROI walks into the room. For financial institutions both large and small, digital signage has improved the client experience by helping staff communicate products and services with more knowledge and confidence. Over time, this can lead to more sales and higher profits.

Some things we’ve captured:

1. Almost half of financial institutions feel that digital signage has improved their sales by up to 40%.
2. At least 57% of branch staff are using digital signage to engage in advisory-level conversations.
3. Nearly all financial institutions with digital signage use screens to display and advertise their products.
4. The 3 most successful types of digital displays for delivering marketing objectives include dynamic screens, exterior signage, and video walls. Followed by drive-up signage, interactive kiosks, and tablets.
   
5. Interactive screens are the highest-performing digital signage assets for leveraging advisory conversations.

Digital Signage Improves Corporate Communications

These days, there is a myriad of communication tools to keep staff members updated on important topics and events. Emails, chat spaces, meetings, and intranet platforms are common, but few things are proven to work as effectively as digital signage. Not only does digital signage get 400 times the attention of other communication methods, but retention is typically double the rate of everything else.

From DBSI’s research, it was discovered that:

1. 60% of financial institutions leverage digital signage in their headquarters or corporate offices.
2. Some of the top reasons financial institutions use digital signage in corporate offices are to modernize the look and feel of the environment, share company news and updates, highlight community involvement, and grow culture and staff experience.
3. The traditional dynamic screen is the most popular type of display seen in corporate locations.
   
4. 20% of institutions with under $1 million in assets plan to add digital signage to their corporate headquarters in 2023.
5. Entryways and lobbies are the most popular places to display digital signage.
   

Conclusion

Want to read the full report? Download your free copy for even more great digital signage insights plus bonus pro tips you’ll be happy to use!