One of the things that continues to surprise me about many banks’ multi-channel strategies is how little most banks have integrated their ATMs into those strategies. Cash machines are by far the most commonly used banking channel. According to Forrester’s Consumer Technographics data, 74% of adults in Western Europe use a cash machine at least once a month, far more than use either branches or online banking that often.
Despite the introduction of Windows-based operating systems and colour screens, most banks aren’t doing much to engage customers on this most-frequent touchpoint. Most do little more than promote the product of the month to all comers. Only a few leaders, like Singapore’s OCBC Bank and Spain’s La Caixa, have integrated ATMs into their CRM systems, which lets them do clever things like remembering customer’s normal withdrawal amount, wishing customers a happy birthday and making products offer that are relevant to that particular customer.
Throughout the past 12 years of our Technographics® surveys, we’ve observed digital technology’s role in consumers’ lives increasing steadily.
Today, technologies like PCs and mobile phones, which were once reserved for the most well-heeled tech freaks, are in three-quarters of US households. For media consumption, however, new formats don't necessarily replace old ones. Our Technographics data shows that while new media sources occupy more of young consumers’ time, it’s the traditional media sources that continue to maintain popularity across both younger and older consumer groups.
This continued reliance on traditional media explains why cross-channel media adoption is still seeing slow growth. The Weather Channel leads this race, as it did in previous years, with one-quarter of respondents indicating they both watch The Weather Channel and log in online.