News

Ryan Report: Banks frustrated with digital signage

May 5, 2013

Despite their industry’s embrace of digital signage, a majority of business leaders in the retail financial services sector are only marginally happy with the technology. So concludes The Ryan Report, which surveyed retailing and marketing executives at more than 200 banks across the globe.

More than half of survey respondents said they have been only "moderately satisfied" with their deployments, according to a news release, with critics citing challenges with message localization, content creation and ease of use of the content management system. Other frustrations include unexpectedly high FTE requirements to IT challenges.

The pitfalls can be overcome through a marketing point of view on digital signage, John Ryan said in the release, as opposed to a purely technical view. That mindset involves internal goal-setting, team structure and participation, careful vendor selection and messaging strategy and execution carried out with the same thoughtful approach that a bank would use for traditional marketing initiatives, the company added.

"A network without marketing is a failed network," Tom Pritzker, executive vice president of client relationship management at John Ryan, said in the release. "Successful adopters use a range of strategic tools and techniques to produce engaging and locally relevant content at acceptable production cost."

The report suggests there is ample room for improvement in how banks use their digital signage networks: targeting methods continue to be quite basic, with region or branch-level targeting far surpassing more sophisticated, data-driven targeting approaches, according to the release. Integration of social media, mobile devices and tablets also remains in the experimental phase, the company said.

Learn more about digital signage in the banking/financial industry.