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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 financial marketers. We hope the insight and guidance
contained within will prove valuable to you and your bank.
Contact us for:
John Ryan
Chairman/CEO
John Ryan
Best regards,
John Ryan
Table of Contents
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
4 | 2013
John
Ryan.
Confidential
Proprietary.
2013
John
Ryan.
Confidential
andand
Proprietary.
Executive
Summary
Executive Summary
The Ryan Report summarizes surveys conducted with retail and marketing executives
representing 204 large- and medium-sized European, Australian and North American
retail banks. Collectively, the responding banks operate 153,272 branches in 32
countries. The surveys topics ranged from general attitudes toward the branch and
branch marketing to specific opinions on all aspects of digital signage. Key findings:
1. Adoption of digital signage is skyrocketing: Nearly 60% of respondents have
tested or deployed digital signage in their branches and an additional 20% intend to do
so over the next 12-24 months.
This is consistent with respondents belief that the branch is as important a revenue/
marketing channel as ever before. Indeed, despite the current economic climate, 66%
will either maintain or increase their spending on point-of-sale marketing this year.
2. No longer the bleeding edge: Though less than half of banks have measured
digital signage performance (and most only in qualitative terms), nearly 60% consider
it of high or very high importancesuggesting this new media has moved from
bleeding edge innovation to a widely accepted and expected form of in-branch
marketing.
3. Day-to-day challenges continue to frustrate: In striking contrast to banks
enthusiasm for digital signage in general, greater than half of adopters say they have
been only moderately satisfied with their deployments. In addition to an ongoing
inability to feed the beast, this years survey reveals a wide spectrum of additional
frustrations, from unexpectedly high FTE requirements to IT challenges. While these
issues are unlikely to stem the tide of adoption, they present a cautionary warning for
the industry to acknowledge the complexity of this new tool.
4. For the first time, banks are looking for turnkey support: Perhaps due to the
breadth of challenges faced, respondents for the first time said the ability to provide
end-to-end deployment and management support is their No. 1 criteria for selecting a
digital signage partner, trumping both banking knowledge and technical know-how.
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.
Survey
Respondents
Is the branch of more, less, or equal importance to your bank than it was 5 years ago?
8%
MORE IMPORTANT
32%
60%
AS IMPORTANT
LESS IMPORTANT
193 Respondents
At the same time, 85% believe the role of the branch will change in the coming years,
reflecting a long-time industry desire to re-cast the branch as a sales, versus service,
channel.
Providing customer service is widely considered to be the main role of the branch, with
revenue
generation
Q9 What
are
the mainclose
rolesbehind.
of the branch at your bank? (select top 3)
What is the main role of the branch?
100%
80%
60%
40%
20%
0%
Customer
service
Revenue
generation
Transactional
convenience
Projecting
brand image
Other
194 Respondents,
Respondents, multiple
responses
allowed
194
multiple
responses
allowed
How
important
consider
Point-of-Sale
Marketing
to theofsuccess
of your branches?
How important
dodo
youyou
consider
point-of-sale
marketing
to the success
your branches?
2%
31%
21%
ESSENTIAL
VERY IMPORTANT
IMPORTANT
OF MINOR IMPORTANCE
46%
196 Respondents
As a result, banks in all regions say spending on point-of-sale will stay the same or
Q16 increase in 2013.
How will POS speding change from last year?
How will POS spending change from last year?
100%
80%
60%
40%
20%
0%
Increase
Dont know
NORTH AMERICA
EUROPE
Decrease
AUSTRALIA
Will no
TOTAL
100%
80%
60%
40%
20%
0%
North
America
Europe
Australia
189
multiple
responses
allowedallowed
189Respondents,
Respondents,
multiple
responses
Total
Europe
Australia
Message recall
43
Inquiries/referrals
24
14
72
24
Customer satisfaction
53
Other
Sales results
9%
VERY IMPORTANT
31%
60%
IMPORTANT
NOT IMPORTANT
196 Respondents
59%
41%
34% 66%
HAVE DEPLOYED
YES
NO
197
197Respondents
Respondents
Visit
www.JohnRyan.com
to see the latest in best
practices in bank digital
signage and flagships.
88
Respondents
88 Respondents
Those who do not plan to implement digital signage say strategic fitas well as upfront and ongoing costaccount for their decision.
Rolled out
Partially
rolled out
Intend to
rollout
Likely to
rollout
Stalled
Undecided
112 Respondents
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.
Despite aggressive investment plans, its surprising to note that most respondents
were only moderately satisfied with their digital signage deployments. Their sources of
dissatisfaction are explored further in the next section.
rate your satisfaction with the way the pilot was designed and implemented?
How satisfied are you with your digital signage deployment?
5%
MODERATELY SATISFIED
41%
54%
HIGHLY SATISFIED
DISSATISFIED
111 Respondents
75%
Bank messaging
50%
Bank messaging
NORTH AMERICA
112 Respondents
20%
Bank messaging
EUROPE
AUSTRALIA
No
Bank messaging
TOTAL
Only a third of banks update their messaging weekly or more frequentlydown from
Q56
about 50% in
lastHow
yearsfrequently
survey. do you update your digital content?
v1
How frequently do you update content?
8%
13%
65%
14%
OTHER
108 Respondents
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.
Do you Do
target
your messages
in any
way?
you localize
your messages
in any
way?
NO
49%
51%
YES
54 Respondents
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.
By branch
By region
By language
By customer By sales
segment
levels/goal
attainment
By queue
length/
wait time
Other
113 Respondents
8%
NORTH AMERICA
EUROPE
26%
23%
AUSTRALIA
17%
51%
36%
47%
34%
66%
BANK WAN/LAN
ADSL/BROADBAND
OTHER/DONT KNOW
110 Respondents
113 Respondents
IT was involved in the decision process at 75% of banks deploying digital signage.
This represents a significant increase over last years survey. Marketing was solely
responsible for the decision in less than 25% of cases.
Who was responsible for decision making?
North America
Europe
Australia
Marketing Department
14
IT Department
21
25
Other
Respondents
35
74
The need for a more collaborative decision-making process was a key finding in last
years report, and this is clearly now the norm.
2013 John Ryan. Confidential and Proprietary. | 21
Daily management requires from one to four FTEsin many cases, more than banks
had forecasted when embarking on their programs.
Q53 Number
ofFTEs
FTEs
in day-to-day
management
How many
perform
day-to-day
management?
100%
80%
60%
40%
20%
0%
One
Two
Three-to-four
Five or more
Dont know
66 Respondents
Demands on FTE are a persistent challenge, as discussed further in the next section.
V. Challenges
Despite widespread enthusiasm, banks continue to encounter significant hurdles in
successfully realizing digital signage benefits.
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
Q44
years report.
Top 3
Top
3challenges:
day-to-day challenges
100%
80%
NORTH AMERICA
60%
EUROPE
40%
TOTAL
110 Respondents
20%
0%
Cost of content
Localization and
segmentation
Interestingly, the percentage of banks that had faced content cost and CMS issues
was significantly greater in Europe than America. By contrast a greater percentage of
American banks had encountered localization challenges.
Full list of challenges:
Localization/segmentation
49%
48%
38%
FTE requirements
17%
Approval processes
16%
Available bandwidth
16%
Other IT challenges
13%
10%
Supplier support
8%
110 Respondents
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.
Need a roadmap?
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Will
thethat
number
of FTEs
increase
asbranches?
more branches are added to the network?
Will
increase
with
more
Q55
v1
15%
YES
49%
36%
NO
DONT KNOW
100 Respondents
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.
26
| 2013
Confidential
and Proprietary.
2013
JohnJohn
Ryan.Ryan.
Confidential
and Proprietary.
About
John Ryan
Programming Strategy
Creative Agency
Programming
Strategy
Creative
Agency
Turnkey
Deployment
Network
Operations
Turnkey Deployment
Network Operations
3000+ branches
content targeting
RETAIL
TOUCHPOINTS
EXPOSED!
REPORT
#16
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 field 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 the
95 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 be
underutilizing their home field advantage.
Employee Engagement
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 engage
with 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.
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 first 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.)
1.2 CONSUMER DATA ACQUIRED AT POINT OF PURCHASE
95 OF THE HOT RETAILERS WITH BRICK AND MORTAR STORES
44%
32%
27%
24%
*http://codes.lp.findlaw.com/cacode/CIV/5/d3/4/1.3
34 | 2013 John Ryan. Confidential and Proprietary.
While well over half of the 95 Hot 100 retailers with stores included their web
address on the receipt, only 5% actually did so with a specific 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 traffic. 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.
RECOMMENDATIONS
FOR 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:
Remember, your stores provide you with a distinct home-field advantage. Put it to good use!
CONTACT US
AMERICAS (MINNEAPOLIS)
Phone +1 (612) 924.7700
EUROPE (LONDON)
Phone +44.203.170.7976
www.JohnRyan.com
info@JohnRyan.com
38 | 2013 John Ryan. Confidential and Proprietary.
EUROPE (MADRID)
Phone +34.91.523.7400