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03.26.19

4 Ways to Reinvent Your Bank or Credit Union's Brochure Rack

Luke Tatge

Ah, brochure racks. They're a staple of the bank or credit union branch. But they're also a great place to find dust bunnies and non-compliant collateral stowaways from eight years ago. So how can you take these once-impactful spots in your branches from invisible to convertible?

Here are a few tips to give your brochure racks the reinvention they deserve.

Introduce Self-Serve

Are there particular hours of the day in which you find your teller lines getting a bit longer? A self-serve kiosk is an excellent replacement for a brochure rack. Save your tellers or member service reps for the "high-end" tasks such as mortgage pre-qualifications, account openings or other multi-step processes, and provide a self-serve area for one-off customer or member needs, like deposits, withdrawals or needs assessments. It will help to shrink your lines during high-traffic periods, and it helps your clientele feel a sense of control.

Endear Commercial Clients

One way you can make better, more effective use of your brochure rack areas is to reinvent them for a new purpose—make them opportunities to build your commercial client base. Transition them into "Business of the Week" kiosks that feature the wares or simply marketing for one of your key business clients. If it's a retailer, offer to sell some core products in your branches. If it's a service provider, outfit the kiosk with an iPad playing their TV spots or video materials. Give your sales team an opportunity to onboard a new commercial client with a bang—by making them feel special right from the jump. A mutually vested interest in commercial growth positions you as a champion of local entrepreneurship.

Digitize Your Collateral

You know what can be a burden on your marketing budget and your frontline staff? Print brochures for evergreen products that become outdated almost the instant they're printed. Consider digitizing more of your long-standing materials, such as brochures and rack cards, by repositioning this portion of your branches as an educational kiosk. Allow walk-ins to select the product or service they'd like to know more about via touchscreen or tablet, and include the option for them to email or AirDrop a selected digital brochure to their inbox or smartphone. It creates less of a paper trail, less of a compliance mess keeping up with regulatory and developmental updates and allows customers or members to better keep track of collateral in a searchable, referable location (instead of underneath the passenger seat in the car collecting dust).

Develop Workstations

You've already heard the "make your branch a Starbucks" line dozens of times—and if you've added a coffee bar to your bank or credit union experience, you've gotten the ball rolling. But how else might you be able to capture a captive audience for longer periods of time and increase the foot traffic in your brick-and-mortar locations? Consider swapping your brochure racks out for workstations. Include charging outlets, high-top surfaces, cupholders and free wi-fi. Encourage people to grab a drink and stay for a while. Then ensure your teller team includes a mobile concierge who can pop over and offer to chat them up about a special offer when they bus empty cups. This closes the loop on retail-izing your branch experience. (As an added feature, consider giving your new workstation walls an upgrade with a screen that features entertaining content inter-mixed with your bank or credit union's own promotional video content.)

9 Marketing Tactics Your Financial Instituion Needs to Try E-Book