Digital Signage in Banking

8/9/2019 Digital Signage in Banking

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2013 Digital Signage in Retail Financial Services


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2 | 2013 John Ryan. Confidential and Proprietary.

The Ryan Report provides a detailed look at

the adoption and usage of digital signage

in the retail banking industry.


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2013 John Ryan. Confidential and Proprietary. | 1

We are pleased to provide you with our third report on the use of digital signage

in retail banking. This survey is bigger than ever, with 204 responding banks

representing 32 countries and more than 150,000 branches.

The Ryan Report is part of our ongoing commitment to understanding and

anticipating the needs of nancial marketers. We hope the insight and guidance

contained within will prove valuable to you and your bank.

Contact us for:

A one-to-one brieng on The Ryan Report

A 1/2 day content best practices workshop

Free vendor selection/RFP question guide

A step-by-step guide for successful digital signage deployment

Best regards,

John Ryan

John Ryan

Chairman/CEO

John Ryan


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The Ryan Report summarizes surveys with

204 banks representing 32 countries

and more than 150,000 branches.


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Executive Summary ......................................................................................................................................................................... 4

Survey Respondents ........................................................................................................................................................................ 8

The Survey In-Depth

I. Attitudes Toward the Branch and POS Marketing ........................................................................................................ 10

II. Digital Signage Adoption .................................................................................................................................................... 14

III. Digital Signage Programming ............................................................................................................................................ 18

IV. IT and Infrastructure Considerations ............................................................................................................................... 21

V. Challenges .............................................................................................................................................................................. 23

About John Ryan .............................................................................................................................................................................. 26

ExactTarget: Retail Touchpoints Exposed ................................................................................................................................... 30

Table of Contents


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4 | 2013 John Ryan. Confidential and Proprietary.2013 John Ryan. Confidential and Proprietary.


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ExecutiveSummary


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In summary, this years survey indicates a profound shift in banks understanding and

use of digital signage. Whereas in prior surveys, banks have taken an evaluative stance

toward digital mediaengaging in low-risk trials to assess its effectiveness and

applicability in their environmentstodays respondents are committed to full-scale

deployments and perfecting their use of this new media.

Ask us for a digital

signage roadmap:

An end-to-end dec

guide for launching

digital signage net


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I. Attitudes Toward the Branch and POS Marketing

Despite explosive growth in internet and mobile banking channels, nearly all

respondents said the branch was asor moreimportant to their bank than ve

years ago.

At the same time, 85% believe the role of the branch will change in the coming years,

reecting a long-time industry desire to re-cast the branch as a sales, versus service,

channel.

The Survey In-Depth

MORE IMPORTANT

AS IMPORTANT

LESS IMPORTANT60%32%

8%

How do you rate the importance of the branch versus 5 years ago?

193 Respondents


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Providing customer service is widely considered to be the main role of the branch, with

revenue generation close behind.

Nearly all respondents believe point-of-sale marketing is important to the success of

the branch, with only 2% considering it of minor importance.

ESSENTIAL

VERY IMPORTANT

IMPORTANT

46%

31%

21%

2%

OF MINOR IMPORTANCE

100%

80%

60%

40%

20%

0%Revenuegeneration

Customerservice

Transactionalconvenience

Projectingbrand image

Other

What is the main role of the branch?

How important do you consider point-of-sale marketing to the success of your branches?

194 Respondents, multiple responses allowed

196 Respondents

Want to unleash th

revenue potential o

your branches?

The John Ryan Reta

Snapshot pinpoints

retailing opportunit

and practical guida

to capitalize on the


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As a result, banks in all regions say spending on point-of-sale will stay the same or

increase in 2013.

American banks rely on point-of-sale marketing to provoke inquiries, whereas

European banks are more likely to see it as a support for staff sales efforts and/or a

way to improve the overall customer experience.

On the other hand, European banks were considerably more likely to measure point-of-

sale effectiveness.

NORTH AMERICA EUROPE

100%

80%

60%

40%

20%

0%IncreaseStay the same Dont know Decrease

AUSTRALIA TOTAL

How will POS spending change from last year?


Do you measure point-of-sale effectiveness?

100%

80%

60%

40%

20%

0%EuropeNorth

AmericaAustralia Total



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The effectiveness of POS spending is largely measured by sales, though customer

satisfaction and inquiries were also commonly monitored.

29


Which of the following do you measure?

North America Europe Australia

Message recall 4 43 2

Inquiries/referrals 5 24 3

Sales results 14 72 3

Number of sales sessions 3 24 0

Customer satisfaction 7 53 1

Other 2 5 0

Ask us how mobile

devices can form pa

of a measurement

by tracking how

customers viewa

interact within-b

messaging.


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II. Digital Signage Adoption

Nearly all of respondents said digital signage is an important, or very important,

in-branch marketing tool.

VERY IMPORTANT

IMPORTANT

NOT IMPORTANT60%31%

9%

How would your rate the importance of digital signage in branch marketing?

196 Respondents


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41%59% 66%34%

HAVE DEPLOYED

HAVE NOT DEPLOYED

YES

NO

Those who do not plan to implement digital signage say strategic tas well as up-

front and ongoing costaccount for their decision.

More than half of respondents have already trieddigital signage. Another quarter plan to do so inthe next 24 months.

A desire for more attention-grabbing messaging, enhanced communications shelf

space, the opportunity for more locally relevant messaging and improved branch

appearance are the most common reasons for deploying digital signage.

Have you implemented digital signage? Do you believe your bank will begin implementing

digital signage within the next 12-24 months?

197 Respondents 88 Respondents

Visit

www.JohnRyan.co

to see the latest in

practices in bank d

signage and flagsh


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Banks are more apt to rollout than ever beforeeven though they are only moderately satisfed

with their networks.Of those who have begun implementation, nearly 70% have already rolled out or plan

to rollout. Only 8% of those who have implemented digital signage have stalled plans

for rollout, greatly reduced from 30% in the last Ryan Report. Reasons for stalling

rollout include an inability to prove ROI, lack of internal support and the amount of

up-front and ongoing operating costs.

Banks generally aggressive rollout plans are surprising, given that only half developed

a business case and less than one-third actually measured the success of their

programs.

What are your plans for deploying digital signage to the rest of the network?

112 Respondents

Rolled out Partiallyrolled out

Intend torollout

Likely torollout

Stalled Undecided

100%

80%

60%

40%

20%

0%


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Despite aggressive investment plans, its surprising to note that most respondents

were only moderately satised with their digital signage deployments. Their sources of

dissatisfaction are explored further in the next section.

MODERATELY SATISFIED

DISSATISFIED

HIGHLY SATISFIED

54%41%

5%

How satisfed are you with your digital signage deployment?

111 Respondents

John Ryans conten

best practices webi

provides useful tips

hyperlocal content

a shoestring budge


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III. Digital Signage Programming

About half of respondents developed a programming strategy prior to implementing

digital signage. In the majority of cases, this involved a mix of bank and non-bank

messaging.

TOTALNORTH AMERICA EUROPE

100%Bank messaging

75%Bank messaging

50%Bank messaging

20%Bank messaging

NoBank messaging

100%

80%

60%

40%

20%

0%

AUSTRALIA

What is the ratio of bank to non-bank messaging?

112 Respondents


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Only a third of banks update their messaging weekly or more frequentlydown from

about 50% in last years survey.

While banks cite message localization as one of the top 3 reasons for adopting digital

signage, most have yet to do so. Indeed, the number of banks that are localizing

messages has actually decreased since our last survey.

65%14%

13%

8%

MULTIPLE TIMES PER WEEK

OTHER

BI-MONTHLY, MONTHLY, OR LESS FREQUENTLY

DAILY OR MORE FREQUENTLY

How frequently do you update content?

108 Respondents

51%49%NO

YES

Do you localize your messages in any way?

54 Respondents

Find out more abou

John Ryans full-se

creative agency at

www.JohnRyan.com


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Among banks that engage in message localization, half say they have faced challenges

in doing so. Targeting methods continue to be quite basic, with region- or branch-level

targeting far surpassing more sophisticated, data-driven targeting approaches.

Social media has yet to inuence digital signage content. No respondents

reported using digital screens to convey social media feeds and less than 5%

had explored integration of mobile devices.

To some extent, these ndings parallel trends in retail. According to a recent

study by ExactTarget, less than 10% of 100 Hot Retailers in the U.S. have

begun promoting social media through in-store signage.

(See the full study in the back of this report.)

By branch By region By language By customersegment

By saleslevels/goalattainment

By queuelength/wait time

Other

100%

80%

60%

40%

20%

0%

How do you target your messages?

113 Respondents


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IV. IT and Infrastructure Considerations

Bank WAN/LAN is the most common digital signage delivery network.

IT was involved in the decision process at 75% of banks deploying digital signage.

This represents a signicant increase over last years survey. Marketing was solely

responsible for the decision in less than 25% of cases.

The need for a more collaborative decision-making process was a key nding in last

years report, and this is clearly now the norm.

110 Respondents

NORTH AMERICA EUROPE AUSTRALIA

23% 51% 36% 47% 66%

34%

BANK WAN/LAN

ADSL/BROADBAND

OTHER/DONT KNOW

26% 17%

How is content delivered to your branches?

Who was responsible for decision making?


North America Europe Australia

Marketing Department 8 14 0

IT Department 3 4 0

Marketing and IT jointly 7 21 1

Marketing and other departments jointly 7 6 0

IT and other departments jointly 2 2 1

Marketing, IT and other departments jointly 7 25 1

Other 1 2 0

Respondents 35 74 1

Ask about our fast-t

bank LAN integratio

plan, in use in thousa

of bank branches in

Europe and North Am


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Daily management requires from one to four FTEsin many cases, more than banks

had forecasted when embarking on their programs.

Demands on FTE are a persistent challenge, as discussed further in the next section.

100%

80%

60%

40%

20%

0%

TwoOne Three-to-four Five or more Dont know

How many FTEs perform day-to-day management?

66 Respondents


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V. ChallengesDespite widespread enthusiasm, banks continue to encounter signicant hurdles in

successfully realizing digital signage benets.

Message localization topped the list of frustrations, with nearly half of banks naming it

as a key day-to-day challengea marked increase over last years survey.

Content management was also a notable challenge with cost of content creation and

ease of use of the content management system remaining widely faced problems. The

percentage of banks reporting these issues has increased in both cases since last

years report.

NORTH AMERICA

EUROPE

100%

80%

60%

40%

20%

0%Cost of contentEase of CMS use Localization and

segmentation

TOTAL

110 Respondents

Top 3 challenges:Take us for a test d

Learn how John Rya

purpose-built conte

management syste

enables fresh and

relevant programm

with minimal FTE.


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Interestingly, the percentage of banks that had faced content cost and CMS issues

was signicantly greater in Europe than America. By contrast a greater percentage of

American banks had encountered localization challenges.

Nearly a third of respondents met challenges surrounding bandwidth availability or

other IT related concerns.

While the overall percentage of banks facing general IT issues has fallen slightly since

last years report, the percentage of banks facing bandwidth challenges has actually

increased.

Notably, a higher percentage of European banks faced bandwidth availability issues

compared to their U.S. counterparts.

Meanwhile, a number of banks faced difculties around daily workow processes

with more than 15% reporting problems with the approval process for new content

and 1 in 5 expressing concern over the number of FTEs required. Fifteen percent of

respondents also said they expect the number of required FTEs to increase as more

branches are rolled out.

Full list of challenges:

Localization/segmentation 49%

Cost of content creation 48%

Ease of CMS use 38%

FTE requirements 17%

Approval processes 16%

Available bandwidth 16%

Other IT challenges 13%

Other Marketing challenges 10%

Supplier support 8%

110 Respondents


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On the other hand, FTE concerns have decreased considerably since last year, where

more than a third of respondents placed it among the top 3 challenges. Indeed, the

percentage of banks continue to face challenges around the number of FTE resources

required to manage their networkwith almost 20% of banks citing this as a

key challenge.

The percentage of banks requiring 3 or more FTEs to manage their networks has also

decreased from nearly 40% last year to less than 30% this year.

Fifteen percent of respondents expected the number of required FTEs to increase as

more branches were rolled out and over a third remained unsure.

While these challenges are not expected to curb the rapid adoption of digital signage,

they emphasize the importance of detailed and holistic planning when approaching

this complex medium.

36%

15%

49%

YES

NO

DONT KNOW

Will the number of FTEs increase as more branches are added to the network?

Need a roadmap?

Download a free

deployment plan a

www.JohnRyan.co

100 Respondents


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26 | 2013 John Ryan. Confidential and Proprietary.2013 John Ryan. Confidential and Proprietary.


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AboutJohn Ryan


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About John RyanJohn Ryan is a retail marketing company specializing in Total Store Messaging solutionsfor leading retail banks. We are the market leader in the design, deployment and

management of digital signage systems in both U.S. and European retail banking. Our

four centers of competence offer the know-how needed to launch and leverage high-

performance networks.

With 30+ years experience in bank point-of-sale marketing, we adopt a marketing

versus purely technicalorientation to our digital signage solutions. The result:

Sustainable, manageable networks with proven business results.


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Day-to-day content management, including

syndicated content, content scheduling and

content targeting

Instant rectification of faults through

continual polling of devices

Remote system monitoring and

maintenance

On-time, on-budget field deployment

and maintenance in banks from 100 to

3000+ branches

Logistics planning, equipment sourcing and

installation as required

Help desk and support

Award-winning expertise in print,

multi-media and interactive programs

Proven track record of creating effective

solutions for banks that deliver results

Account managers dedicated to

your account

Strategies to deliver fresh and

relevant content at a sustainable cost

Ongoing strategic reviews

Advice on display selection and placement

Knowledge of industry best practices

Network

Operations

Creative

Agency

Programming

Strategy

Turnkey

Deployment

Turnkey Deployment Network Operations

Programming Strategy Creative Agency


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Even the fastest growing retailers haveroom to improve their level of

consumer engagement

during and after the

initial sale.

-Reprinted article Report #16, ExactTarget


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2013 John Ryan. Confidential and Proprietary. | 31Reprinted with permission

RETAILTOUCHPOINTSEXPOSED! REPORT#16


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The physical store is going

to remain central to the

shopping experience, but

the walls are coming down.

Customers are going towant an updated, unique

experience in stores, and

retailers will need to gure

out what exactly they want

and how to give it

to them.

-Lisa Gomez,

Senior Manager Retail,

Deloitte Consulting, LLP

We begin our examination of the Hot 100 Retailers on their home turftheir brick

and mortar stores. 95 of the Hot 100 Retailers operate such stores, and in theory, any

retailer with a physical presence has the potential for a huge home eld advantage

with consumersbut only if they leverage it. They own the store frontage, window

displays, door decals, in-store signage, employee training, customer service and the

checkout process. Yes, the consumer may have a smartphone in their hand, but smart

retailers have ample opportunities to develop a deeper level of engagement once

consumers step into the store.

With this in mind, our research team visited a representative store for each of the95 retailers. During these visits, we walked the entire store, interacted with store

associates, and purchased at least one item. This allowed our team to document

how the following touchpoints were being used to facilitate email, mobile, and social

audience growth and engagement:

In-store signage

Employee engagement

Sales receipts

While a number of the retailers surveyed impressed us with their efforts to turn

consumers into subscribers, fans, and followers, a surprising number appear to beunderutilizing their home eld advantage.

If it is the job of the retailer to create and enhance the customer experience, the

employees of brick and mortar retailers are fundamental to that experience. Employees

need to be attuned to the needs of in-store consumers and ensure customers

have a positive experience. In many ways, the best store associates help create an

environment in which consumers not only want to purchase, but also want to engagewith the brand in a deeper, more meaningful way such that the trip to the register isnt

just to make a purchase, but also to grant permission for ongoing communications.

During our store visits, we documented employee behaviors both in-aisle and during

checkout. In doing so, we found that of the Hot 100 Retailers with physical stores, 62%

had employees trained to seek data from consumers at point of sale. However, only

44% of the retailers with stores asked for a customers email address at point-of-sale.

The In-Store Experience

Employee Engagement


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Furthermore, while at the register, we observed two types of data being acquired

by employees:

PERSONAL DATA:any piece of information that speaks solely to an individual (for

example, phone number, email, purchase history and rst name)

GEOGRAPHIC DATA:any piece of information that speaks to the geography or

demographic (for example, zip code and addresses)

Of all the data acquired at point-of-sale, 80% was personal data. Well discuss later in

this report whether this personal data led to more personalized

communications. (Hint: It didnt.)

asked for the consumers email address

asked for the consumers zip code

asked for the consumers phone number

asked for the consumers postal address

24%

27%

32%

44%

1.2 CONSUMER DATA ACQUIRED AT POINT OF PURCHASE

95 OF THE HOT RETAILERS WITH BRICK AND MORTAR STORES


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The Sales ReceiptThe sales receipt presents two distinct opportunities for marketers. First, it is aface-to-face opportunity to secure permission to send a postsale communication in

the form of a digital receipt via email. When purchased items are expensive, under

warranty, or have a possibility of return or exchange, consumers view the email

receipt as a customer service. Nevertheless, we found that only 2 of the Hot 100

Retailers with physical stores (2%) offered digital copies of receipts via email.

Retailers who offer email receipts create an immediate and permission based

communication opportunity to communicate with each customer. While each receipt

is a one-off communication, the retailer can also include a call-to-action to subscribeto ongoing email communications, engage via Facebook or Twitter, and even rate

products online. The key is not to let any promotions overwhelm the transactional

nature of the messageand to make sure such communications comply with

Federal and State laws such as Californias Song-Beverly Credit Card Act of 1971*.

Navigate the legal waters properly, and the simple sales receipt becomes a powerful

cog in the retail audience-building efforts.

The second opportunity provided by sales

receipts is much like in-store signage. Think

about the coupons on the back of your

grocery store receipt or the solicitation tocomplete a survey on the back of that fast

food receipt. Both are highly visible efforts

to extend consumer engagement beyond

the initial purchase, and yet it would

appear that the vast majority of the Hot

100 Retailers arent leveraging this

real estate.

*http://codes.lp.ndlaw.com/cacode/CIV/5/d3/4/1.3


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While well over half of the 95 Hot 100 retailers with stores included their webaddress on the receipt, only 5% actually did so with a specic call to action. We were

encouraged, however, that over 25% of the in-store retailers (24 total) sought some

type of feedback on the product or purchase process. In the age of social media,

feedback can be a powerful marketing tool. Comments posted to Facebook, Twitter,

Foursquare, and other social networks increase awareness of your brand and, if

positive, have the potential to increase your foot trafc. Since retailers control every

aspect of their receipts, we suspect that well see more efforts to use this real estate

to engage social consumers post-purchase.

RECOMMENDATIONSFOR IN-STORE ENGAGEMENT

As our anonymous shopping efforts revealed, even the fastest growing retailers have ample room

to improve their in-store audience building efforts. Just capturing the attention of 10% more of a

stores foot traffic could translate into thousands more subscribers, fans, and followers with whom

the retailer could communicate directly. Our advice to all brick and mortar retailers, therefore, is to:

1 BE BOLD AND STRATEGICWITH SIGNAGEThe mere fact a consumer walks throughyour doors indicates some level of interest inyour brand. Put calls-to-action along theirin-store path that convey how, where, andwhy to engage with you via email, SMS,Facebook, or your other digital channels.Fortune (and audience growth) favors thebold.

3

GET CREATIVE WITH SMS

Whether smart or dumb, a majority ofcell phones these day have low cost or nocost text messaging capabilities. Test in-storeSMS calls-to-action that encourage custom-ers to try new products, shop clearance items,and purchase your overstocked items.

2 EDUCATE AND INCENTIVIZESALES ASSOCIATESEmployees may love your brand, but mostwork for the paycheck. Incentivize your salesassociates on audience acquisition, andcoach them on how to encourage customersto engage your brand via social media andreview sites.

4

OPTIMIZE BOTH PRINT

AND EMAIL RECEIPTS

As the tangible evidence of a sale, receipts aresomething consumers have a tendency toreview and keep. Leverage that behavior toyour advantage by offering digital copies viaemail and by promoting your preferredchannels for feedback and social engagement.

Remember, your stores provide you with a distinct home-field advantage. Put it to good use!


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Digital Signage in Banking

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