By : Colin Gordon
September 15, 2014 10:54 PM
A month ago a Canadian bank’s marketing campaign on the gifting ATM went viral. It now has over eleven million views. In the last few days, you may have seen another example of an ATM themed YouTube viral appear on your Facebook or Twitter feed. Already this video has racked up over 30,000 views. In this video, a group of young people “dance-off” with each other whilst doing a cash withdrawal on payday from the ATM!
The gifting brought ATM (Automated Thanking Machine) squeals of delight from a handful of specially chosen lucky customers, as it treated them with personalized gifts. In this video, a standard cash dispensing ATM seems to generate a greater level of excitement from the small group as they undertake a cash withdrawal. Whilst most consumers will be happy withdrawing the money they have worked for, this group decided to take things further and have an impromptu shuffle dance off to Kiesza’s recent global hit Hideaway.
Whilst possibly a somewhat extreme example of a positive consumer experience, this viral payday dance at the ATM shows that going to the cash machine and being able to withdraw cash still delivers a huge sense of satisfaction for consumers – particularly when it has been money that is hard earned over the course of a working week. The ability to withdraw cash gives a tangible sense of what you have worked for.
Despite many reports that say otherwise, the ATM and cash clearly still are important for consumers. Over 3 Million ATMs are estimated to be installed by 2015, with an estimate that this number will increase to 3.7 million by 2018. (Source: Retail Banking Global ATM Market and Forecasts to 2018).
In terms of cash withdrawals, high demand still exists in terms of both volume and value. There was an eight percent year-on-year increase in cash withdrawal volume to 80.7 billion transactions along with a 10 percent increase in cash withdrawal value to $13.2 trillion. (Source: Retail Banking Global ATM Market and Forecasts to 2018).
All over the world, the ATM still acts as a very important self-service channel in providing consumers with access to their cash in a trusted and reliable way.