Why Should Financial Institutions Choose to Brand ATMs?
It’s no secret that consumers love convenience. In fact, consumer demand for ATMs is growing, with over 95% of accountholders utilizing ATMs annually, according to CEB TowerGroup. A majority of those same accountholders visit the ATM at least once per week. However, these users are not relegating themselves to using on-site bank or credit union machines. Their desire for convenience leads them to get their cash and check their accounts wherever ATMs are available – including convenience stores, shopping malls, restaurants, bars and other highly frequented locations.
This steady use of independent off-site ATMs means cardholders are exposed to a multitude of messages including advertisements for items sold onsite, additional ATM locations and even branding from other financial institutions. Even those consumers not utilizing the machine are within viewing proximity of ATM advertising every time they visit their favorite haunts.
As consumers have shown they trust branded ATMs over the standard grey box, those machines sporting brands and advertising for banks, credit unions or other trusted brands draw more attention and create greater brand awareness. Studies have shown that branded ATMs generate an increase of 30% or more in transaction volumes – leading to even more full interactions with ATM ads than standard, un-branded machines.
In addition to offering a potentially untapped branding venue, ATMs are also a simple and inexpensive way to reach current and potential cardholders. Costs for ATM branding packages are typically much lower than advertising on television, radio and other traditional venues. According to prominent ATM manufacturer NCR, Inc., ATM advertising has proven to be 65% less expensive and 200% more effective than direct mail.
The machines act as miniature billboards prominently placed in popular hangouts and highly frequented locals such as hotels, gas stations, restaurants and grocery stores. And the fancier the advertising, the more the brand gets noticed. As such, many ATM operators work with their branding partners to provide full color wraps, dynamic screens and brightly lit toppers. Many ATMs will come complete with additional signage where the location allows it – including window signs, decals on doors or in vestibules and other dynamic branding and ATM awareness solutions.
Due to their low costs, high visibility and interactive capabilities, branded ATMs are an ideal choice for financial institutions looking to promote their convenience as well as reach out to new communities.
Contact BFC Enterprises to find out more about how your financial institution can start branding today!