ATM MONETIZATION A GAME CHANGER IN THE BANKING INDUSTRY

Have you been to an ATM recently?Noticed any changes?YES!Its because banks are monetizing their ATM networks in a strategy called ATM targeted marketing.
   Targeted marketing is an excellent way to turn the ATM network into a conversion generation tool . In fact, quite a few banks started to target customers and non-customers on their ATM’s successfully. ATM targeted marketing is one way
of monetizing ATM networks while offsetting banking operational expenses.Though the targeted interactive marketing  is  picking up slowly ,i can assure you this is the ultimate gamechanger in the history of banking.


MERITS OF THE ATM TARGETED MARKETING

•Banks can now craft successful campaigns through the technology like the campaign above requiring customers to acquire the new debit card and its working so far.
•Acquire new customers by the contact that is feedbacked by the new customers while on the p.o.f

•Banks can sell other products through the interactive technology

•Banks can get feedback from the targeted customers to which the banks can utilize on such info


    However,ATM targeted marketing needs to be executed with caution if you may ask for an advice from me. Why?Because the consumer is at the ATM for a very short period of time and for a very specific purpose(withdraw money), so here are some tips to a successful ATM targeted marketing.
•The message should be short and precise so as to reduce the transaction time over the ATM.It should be short and precise to get to the mind of the targeted customers and get digested in a span of second or 30s.The shorter and more precise it is,the more  a lead is likely to be generated.

•Consumer experience should be key or rather top most priority.If the consumer experience is affected then the bank is doomed .First time,i felt distracted by the screen like so many targeted messages were blinking on the screen.I wasn't comfortable at all.I felt like this interactive message was invading my privacy at the atm.

•Bankers should always diversify their interactive messages just to test which method generates more leads.They can use call to action buttons and many others rather than just relying on one.
     ATM targeted marketing still has a long way to go.As per now,this technology is beneficial to the banks as it offsets the banks operational expenses.This is a sitting cash cow.How i wish more banks could embrace this technology in the right way.

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