3 ways to get more exposure with onsite automated teller machines.
Branding is about much more than just a company logo; it is about communication with consumers and the surrounding community. Brand reflects how we differentiate from competitors and startups. Consequently, brand awareness is one of the most vital points of marketing strategy. According to research, consumers that recognize a brand are more likely to see it as a familiar, dependable and safe option.
Every brand strategy should have consumer awareness at its center. Branding event ATMs is affordable, can create a positive experience for fair and festival goers, and can expose the brand to a large number of consumers at one time in one place. Bank customers and credit union members will appreciate being able to perform surcharge-free transactions, and this type of branding can lead to loyal and dedicated accountholders that will turn to the sponsoring credit union for their banking needs.
Here are three ways to use event ATMs to help boost your brand exposure:
1. Provide accountholder perks. Consumers, especially millennials, approach banking with a “what’s in it for me” mentality. If a credit union offers surcharge-free ATM transactions at a community event, members have convenient access to cash and may recognize the credit union’s good will. In addition to strengthening the loyalty of existing accountholders, it also advertises membership perks to non-members.
2. Create a memorable experience. Event ATMs allow people to experience a credit union’s brand first hand. Through customizable screens and marketing messages on event ATMs, consumers can be exposed to not just the CU’s logo, but to the brand’s offerings and the various benefits associated with doing business with that institution. An engaging, easy ATM experience is notable, and can be important to long-term marketing goals. And of course part of the experience is that event-goers are provided with easy cash access from a trusted brand.
3. Reap the ROI. Supporting an event by having an ATM onsite is a cost-effective way to market the brand and increase exposure. Compared to such traditional advertising as running a billboard, a newspaper or a digital ad in a local online publication, sponsoring an event ATM is often more affordable. Plus, depending on the size of the crowd and length of the event, ROI may be higher with more people not just seeing the ATM but also being exposed to the FI and the services offered with custom screens, topper signage and wraps.
If event ATMs are new to your branding strategy, contacting a mobile ATM company to see what local events they have scheduled is a great place to start. A qualified, professional event ATM team can help credit unions build brand awareness, expose the brand to a multitude of consumers and, most importantly, boost revenue long term—at a fraction of the cost of a FI deploying their own terminals for an event.
Yonas Marcos is president/CEO of Star Financial Services, Elkridge, Md. Born and raised in Addis Abeba, Ethiopia, Yonas came to the U.S. for college and graduated from Towson University. In 2007 he founded Star and has grown it into a nationwide financial payment services provider that offers electronic and mobile payments, ATM equipment and processing, ATM branding, ATM outsourcing for financial institutions and mobile event payments. Connect with Yonas via email or on LinkedIn. Download a whitepaper about event ATMs here.
Read more about the future of ATMs from the November 2018 issue of CU Management magazine.
Also check out Payments University, slated for Sept. 11-12 in San Diego.