3 ways for an FI to create brand awareness with event ATMs

By Yonas Marcos, President and CEO, Star Financial Services

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, safe option.

Every brand strategy should have consumer awareness at its center. Branding event ATMs are affordable and 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 location. 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 financial institution (FI) for their banking needs.

Here are three ways branding of event ATMs can boost your brand’s exposure:

1. Provide account holder perks
   Consumers, especially Millennials, approach banking with a “what’s in it for me” mentality. FIs can take advantage of that by maintaining a presence at local fairs, festivals, and other community events. Cardholders then have easy access to surcharge-free transactions via branded ATMs, while the FI simultaneously strengthens loyalty with existing accountholders and advertises to consumers in the community.
   
2. Create a memorable experience
   Event ATMs allow people to experience a bank or credit union’s brand first-hand. Through customizable screens and marketing messages on event ATMs, consumers are exposed to not just a FI’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 vitally important to long-term marketing goals. In addition, event-goers are provided with easy cash access from a trusted brand.
   
3. Take advantage of an affordable marketing opportunity
   Supporting an event by having an ATM on-site is a cost-effect way to market the brand and reap the benefits of increased exposure. Compared to traditional advertising such as running a billboard, a newspaper or a digital ad in a local online publication, sponsoring an event ATM is 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.

Cash is king when it comes to community events, and event organizers know this; which is why they hire qualified, professional mobile ATM companies to manage the ATMs they have on site. A mobile ATM company installs, monitors, and services the terminals during the event, ensuring that consumers have a positive experience.

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 banks and 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 an FI deploying their own terminals for an event.

Yonas Marcos is president and CEO of Star Financial Services. He founded the company in 2007 and has grown it into a nationwide financial payment services provider offering electronic and mobile payments, ATM equipment and processing, ATM branding, ATM outsourcing for financial institutions and mobile event payments. Connect with Yonas viaemailor onLinkedIn.