ATMs offer meaningful opportunities to attract new account holders and aid in account holder retention at a fraction of the acquisition and retention costs to which growth marketers have become accustomed. ATM branding and marketing is a great way to start targeting younger generations.
What does the younger generation mean to financial institutions? They mean everything and bank and credit union marketers recognize this fact. In the past two decades, there has been a heavy focus on Millennials as they graduated college, entered the workforce, and began moving up into management. But today, the oldest Millennials are in their early forties, and marketers realize it is time for that same focus on the future to take on the challenge of a new generation.
They want 24/7, surcharge-free, self-service banking whenever and wherever they need it. And that self-service banking is more than an easy-to-use mobile application. It also means fast and convenient access to cash – at the ATM.
In addition to being rampant mobile banking users, Gen Z also heavily prefers cash and ATMs. Nearly half of Gen Z (45%) prefer to use cash. Another thirty-three percent believe cash makes them feel like they have more control. So, it shouldn’t be surprising to discover consumers 18-34 report visiting an ATM to get cash more than seven times per month. Fortunately, the continued popularity of ATMs among the younger crowd is a huge boon for financial institution marketers. ATM marketing options are unique to each ATM partner but may include the following:
Brand presence reinforcement
Full-color branded wraps are one of the low-cost, reliable ways ATMs provide financial institution advertisers a marketing advantage. When it comes to ATM marketing there are many different styles of wraps to choose from, including vault door branding, complete machine billboards, and integrated custom surrounds. These colorful and attention-grabbing billboards remind current account holders of the advertising institution’s location, name, and convenience. They also increase brand awareness with potential account holders, especially in high-traffic areas where visitors are likely to regularly see the same bank or credit union brand name.
Increase brand viewership – to the tune of over 33 Million impressions.
Most financial institutions are already aware of the benefits of digital video advertising and have used it
regularly inside their bank branches. However, the potential reach of non-branch digital advertising is even more impressive. Retail store exposure for digital-out-of-home is estimated at 33 million views. Gas stations and convenience stores have an estimated viewership of over 31 million. ATM branding/marketing and advertising can combine the potential reach of popular locations with the direct association with financial services such as convenient cash and account access.
Low-cost, hyper-targeted on-screen Advertising
Today’s ATM technology can go far beyond the old “look & feel.” Now, select ATM operators can provide hyper-targeted marketing opportunities to their partners. Whether it is a special message to specific account holders to improve retention or an advertisement to appeal to competing prepaid cards or financial institutions, the 1:1 impression rates and dynamic, full-color screens make the ATM a perfect
spot to advertise.
Retailers use receipts regularly to provide coupons, rewards, and reasons to return. They are a proven, low-cost medium to improve retention and add value to the consumer. Financial institutions leveraging receipt messaging at the ATM can achieve similar results. These post-transaction messages provide an easy avenue for banks and credit unions to offer calls-to-action, loyalty programs, and promotions that help drive new account adoption and improve relationships with current account holders.
Increase the financial institution footprint
Off-site ATMs provide a unique opportunity for banks and credit unions to provide services and brand presence in locations that impact their target communities and demographics. Convenience stores, local attractions, college campuses, or big area employers are all places where placing an ATM can help create a positive impression with the right target audience.