 Digital Signage in Retail Financial Services
John Ryan Webinar Emphasize Need for Solid Content Strategy and Planning
MADRID, SPAIN – John Ryan convened a panel of retail and digital signage gurus yesterday for a discussion on the future of digital signage in banking. The webinar, titled "Digital Signage in Retail Financial Services: What John Ryan’s European Survey Means for Your Bank," featured:
Paco Underhill, Envirosell founder and CEO, and best-selling author
of "Why We Buy: The Science of Shopping"
Mike Hiatt, former director of Wal-Mart's "smart" digital media network
Bob Steele, Vice Chairman of John Ryan
Each presenter offered ideas for how banks could be successful in adopting
digital signage within the bank environment.
Bob Steele kicked off the event by recapping the results of John Ryan's survey of 64 European and South African banks, which found that although adoption of digital signage is skyrocketing, banks are having difficulty exploiting the medium. Limitations in software and difficulties in generating content have hindered banks from being able to "localize" content to the extent that they would like.
"Early adopters are facing real challenges in creating, localizing, and managing content," Steele said. "Realizing the enormous promise of this new medium" which is the ability to target messages to specific branches and screens" has turned out to be far more laborious than anyone expected," he reported.
In the discussion that followed, all three panelists fielded questions from the audience, offering advice on a range of issues from sign placement to mobile technology to employee training. One theme that emerged was the need for banks to master content strategy, planning and management, with the goal of making content more relevant for customers and more efficient for the banks to produce.
What follows are some highlighted quotes:
MIKE HIATT
"The customers are in the store. They don’t mind being sold. They just want to be
sold in a more valuable way."
"People know they need a digital network, but they take more of a reactive than
proactive process" reacting to what the competition is doing, etc."
"Digital signage is a beast that needs to be fed. You need a road map.
You need to have a good plan in place."
PACO UNDERHILL
"Relevance is king. Content is the way we approach relevance. The messages are
more actionable when they are relevant."
"One of the poignancies of digital signage is that if used correctly it is extremely powerful,
but if used incorrectly may generate a negative impression."
"Any communication program on the floor of a branch has to be matched with opportunistic excellence so that people are not waiting or feeling their time and experience is being ."
"What merchants are learning is that less is more. Having 20 screens at the right
place with the right message works better than 100."
BOB STEELE
"Digital Signage is powerful in its ability to help the marketing department take its place as an equal to other key departments, including lending, investments and operations."
"If you are looking at cost and impact, then digital signage is far more
effective than anything else in branch."
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