The Smell of Money

Banks have been affected like many other businesses by the increase of customers going digital. Banks have progressively decreased the number of branches in the past year and further closures are expected. This is why banks are looking to more alternatives to keep their customers and improve their customer service.

Scent Marketing in one of the most powerful tool to increase customer’s loyalty and increase the perception of quality of a brand. With specific scents diffused in banks’ branches, the industry can prove that they are able to find creative ways to deliver the kind of personal service that today’s customers demand.

The Precursors

The first bank starting Ambient Scenting in 2008 was Leumi Bank, in Israel followed by China Merchant Bank and the British group HSBC, which use different aromas to follow the rhythm of the seasons.  The idea is to reassure the customer at the time when he negotiates a loan or places his economies.

A cedar scent could be harmful for the banking industry

Other industries sector are more in advance. The car manufacturers know that the scent of leather evokes a universe of luxury. Industrial bakeries diffuse bread aromas to tempt the passing traffic. The strategies are refined gradually to be adapted to each type of industry and match new researches.  In 2013, scientists highlighted the significant impact of a diffusion of chocolate odour on the behaviour of the customers of a Bookstore (in particular customers who then bought more novels with rose water and cookbooks).

Certain odours tested in the Australian prefectures decrease the feeling of waiting. Temporal perception is modified. But a research undertaken in 2011 watch that a perfume badly chosen, an odour of cedar for example, can have a noxious effect and increase the level of stress!

Lower stress and better mood of the customers

With appropriate aromas diffused, banks have noted extremely good results. Some notes like green tea, pine needles or amber give the best results.

Major benefits include:

  • General perception of the place improves
  • Lower stress and aggressiveness of the customers
  • Reinforcement of the perception of quality
  • More satisfaction coming from interactions with the financial advisor.
  • Better Customer Service.

Contact us on 1300 731 680 or email us at info@scentaustralia.com.au to find out more about introducing scent in your bank.