Digital Signage in Banking
Transcript of 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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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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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?
195 Respondents, multiple responses allowed
Do you measure point-of-sale effectiveness?
100%
80%
60%
40%
20%
0%EuropeNorth
AmericaAustralia Total
189 Respondents, multiple responses allowed
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The effectiveness of POS spending is largely measured by sales, though customer
satisfaction and inquiries were also commonly monitored.
29
110 Respondents, multiple responses allowed
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?
110 Respondents, multiple responses allowed
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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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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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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