When it comes to ATMs, most banks are fairly good at branding their ATMs. Most post large signs and symbols that clearly communicate to customers that this is their ATMs. But when it comes to marketing, many banks fall behind.
Brenda Pino, VP of physical channels operations at BMO Harris Bank N.A., discussed ways to boost marketing during a session at ATMIA held from June 23 to 25 in Las Vegas.
Pino said branding is all about “visibility” while marketing is about “messaging.”
“We don’t do enough on the marketing side,” Pino said, “That’s where we tell them who we are and what we do. It strengthens our brand if we use marketing better.”
First of all, you need to identify what type of customers is using the ATM. There are two types of customers: tier one and tier two.
Pino said tier one customers are users of your bank. They already have a bank card and are paying attention to the screen. With them, you can use marketing messages to upsell either based on analytics or based on their BIN or card type or even the market area.
Tier two customers are customers who don’t use a bank’s card and are from another bank or FI. With these customers, you need to be able to communicate to them who you are about and give them reason to switch.
Pino said you could offer them fee free banking for opening an account or offer product promotions.
When it comes to the messaging itself, Pino said banks need to be able to regularly change the messaging so it doesn’t get stale.
“Customers look at the message but they’re not seeing it, because they’ve seen it too many times,” Pino said.
However one issue with this type of messaging is justifying the cost, especially if you don’t have a robust customer relationship management system in place.
In order to do this, you will need to carefully consider what the value is of an impression in that particular market vs. that message in a different market, Pino said.
Finally, it is important to take advantage of ATMs’ current position due to the pandemic. Pino said during the pandemic BMO had to shut down many branches or limit hours, so customers began going to the ATM for other services besides just getting cash.
“We migrated customers from teller to ATM just due to the pandemic,” Pino said.
Banks need to stay on top of this trend to keep customers at the ATMs, both to save time and cost and to market to customers directly.