The background music in the banking industry has evolved at the same level as its value proposition. In the last 10 years, we have seen a substantial change in this industry. From inhospitable spaces, with cold contact and disturbing background music, to welcoming and homely spaces, where they serve you a coffee and a familiar song sounds.
The point of sale has been reinvented in all sectors. Improving customer experience and considering the customer-centric as the key objective. Banking is one of the industries that has undergone the greatest transformation of its spaces and its value proposition. Banking as we knew it 10-15 years ago is no longer the same. It has improved its services and reduced the time users spent on transactions. Above all, it has focused on continuously improving the experience, getting closer to customers, connecting with them and involving them through different channels.
How music has changed in the banking sector
Music plays a basic role in this new value proposition. It is no longer necessary to mention all the music benefits in terms of creating the right atmosphere to generate good customer experience. Now music is taken to another level.
Music is approached as the mainstay of this new experiential space. In-store music is no longer considered as something that sounds in the background just to fill silences. We are considering music services as an essential tool to build a brand’s musical identity, based on its values, its positioning and its target. Connecting clients between online and offline channels.
In this scenario, we have seen how banks have transformed their spaces into places more like a living room than a business centre. The fact is that feeling in a familiar and close environment is one of the first premises of the customer experience. Now it’s possible to listen to the brand’s background music everywhere. New strategies bring the opportunity to listen to the brand’s music while you are driving your car, at a party with your friends or even on the beach.

Music-based marketing strategies
Music has a very important role in our lives. It is part of our moments of escape and socialization. The financial sector is increasingly present in the different moments of our lives, especially leisure time. For this reason, one of the marketing strategies to approach the customer is based on branded content campaigns through music.
Brands that have traditionally been related to rigidity, seriousness and apathy, have evolved, have been humanized. A bank is no longer this cold and empty space where it seems that the only thing that matters is money. The bank has become an experience. Spaces where artists present their latest album, or where a networking event or simply an art exhibition takes place. The bank as a meeting place, and its music as a link.
Within this new concept of banking, different areas have been created to meet different needs. Each of these spaces can have differentiated background music. For example, a coffee area with instrumental jazz background music that helps to break the ice while greeting your customer.
Brands also take these musical identity strategies outside the point of sale. One example is BBVA’s digital tool BBVA Valora, which it launched last year. A map of Spain that apparently served to find out property prices in different cities. But where music has an added value. The map is complemented by different music playlists that characterize the most popular genres and styles in each city. The objective was to discover the musical identity of each city. But behind it all, there was a much more valuable strategy that was to reinforce the brand identity.