Creating global marketing advantage
through a digital media solution
Uses and benefits of digital signage, IPTV and Video Streaming in retail banking
Copyright Tripleplay Services 2013
Creating global marketing advantage through a
digital media solution
Uses and benefits of digital signage, IPTV and video streaming in retail banking
Internet banking has not, as predicted by some, brought an end to the
importance and requirement of the local branch. Whilst convenient and
secure, internet banking does not have the personal feel of a visit to your
local advisor; it can be impersonal and viewed by the user as another utility to
manage, creating difficulties in maintaining brand loyalty and alienating some
more traditional banking customers.
Owing to the ongoing importance of the branch, the geographically dispersed
work force and the necessity of creating a central culture and brand, banks
now have to confront a number of problems in order to continue competing
both globally and nationally.
There are problems associated with the provision of consistent, cost effective
and impacting training to staff regardless of where they are based and in what
job role they are employed, as well as difficulties keeping a strong global brand
image representation whilst maintaining the ability to provide regional specific
content.
As a result of these challenges, a number of banking and financial organisations
are looking for modern and creative solutions to the problem. One such
solution, which a number of banking organisations have already begun to
consider and/or implement in order to overcome the problem, is the utilisation
of IP digital media solutions; more specifically, digital signage, IPTV and video
streaming.
This document will discuss;
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How digital signage can aid campaign launches
Importance & use of digital signage to improve point of sale (POS) results
Digital media as a training resource
Creating an engaging customer experience
Marketing New Products
Attempting to inform all branches of upcoming special offers, new accounts,
savings, loans, mortgages or credit card deals and promotions at the correct
time is a challenge that all banks have to contend with. How do you quickly and
cost-effectively go live with a campaign when you have branches in locations
spread across hundreds of countries around the world?
Traditional methods would see sales collateral and posters printed weeks
before a launch is due to take place, with shipping to the large number of
locations creating huge campaign launch costs. On top of this staff must be
trained on all aspects of the latest offers, a challenging task for the business to
tackle.
A number of global banks have decided to utilise Digital Signage and Video on
Demand solutions to quickly distribute a message around their business. In
fact, a recent survey* of over 150,000 bank branches found that almost 60% of
Focus Point
Digital Signage replaces Printed Poster
to reduce marketing costs and improve
product launch times in-branch.
respondents had already adopted, whilst a further 20% were planning to adopt
digital signage in the next 24 months.
A key driver to this is seen as the recent mind-shift towards believing that POS
marketing is now of great importance to any successful retail bank. Again, the
same report states that 66% of respondents would be increasing or maintaining
spend on POS promotion.
Electronic posters utilising a digital signage solution can be centrally designed,
created and managed at headquarters and uploaded to every plasma, LED or
LCD TV screen around the company at the touch of a button, relieving the costs
of man hours, shipping and printing; strengthening brand image at POS too.
By utilising zoning features it is then possible to provide appropriate and timely
content to every operational region, ensuring only relevant products and offers
are displayed in each branch utilising local language and detail.
On the other side of the scale, the ability to share administration control
around the business enables individual branches to update selected aspects of
the digital signage displays. For example, this would allow a local branch
manager to access individual text boxes or layouts in a signage playlist,
Focus Point
Enable both central and local control,
ensuring both global messages and
local information are shared with staff
and customers.
enabling them to add locally specific details that may not be available at head
office; opening times, appointment schedules or details of upcoming events,
ensuring the bank maintains a local feel.
Having the appropriate content is vital; ensuring that there is a constant flow
of new material is the only way to ensure the solution has the desired impact
and effect. By linking local control with central management a bank will
effectively have two flows of content to ensure the signage stays fresh,
meaning a branch or head office can take matters into their own hands when
needed, preventing the frustration of stagnant marketing and outdated news.
*The Ryan Report 2013, copyright 2013
John Ryan
Staff Training
To compliment this process, and by utilising a fully customisable digital video
streaming and archiving solution, banks can upload any new advertising,
training or promotional material to a video portal then quickly and simply send
a link via email to all branch staff around the world.
This email can include full details of the offer, major price points and benefits to
the customer. Coupling this activity with a digital signage campaign, where still
and interactive posters are intercut with adverting in-branch, any bank can
create a simple and speedy means to launch new products and services
globally.
By embedding these messages into every working environment and creating
awareness with the customer it is easy to maximise the return on investment
on a solution and also the selling opportunities in branch.
Aside from this, it has been estimated that year-on-year organisations will lose
between 10 and 30% of its capabilities and skill sets, whilst the American Society
for Training and Development found that without adequate training resources
41% of new starters will leave a position within a year. The usual figure is just
12%, bringing a 29% increase in new-staff turnover when adequate training is not
provided.
By granting staff access to video resources, and through the use of video as a
resource for training, any organisation can ensure that staff are constantly
looked after professionally, ensuring there is a core philosophy of Continuing
Professional Development (CPD) within the workplace with very little reliance
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Utilising IP video streaming solutions
any bank can provide training materials
and informative video content to all
staff, direct to their desktop, tablet or
smart phone.
on man hours.
Adding these improvements to the processes by which training is supplied will
aid in compliance and ensure that all staff are fully trained and aware of up-todate legislation and law.
The Customer Experience
Banks across the world have tried to create a more relaxing, enjoyable and
memorable experience for customers, trying to emulate a soft and warm retail
environment rather than the traditionally formal and corporate atmosphere of
the banks of days gone by.
However, for all the modern decor and comfort you can supply, when a
customer is in a waiting room prior to seeing an advisor it is an opportunity to
make them feel at ease and both entertain and inform a captive audience.
Utilising a TV screen in any waiting area showing live news or TV, with
occasional breaks to show an advert or promotional clip can ensure a longer
than expected wait is a pleasant experience. Integrating an IPTV solution with a
Digital Signage system will also enable the ability to overlay messaging, logos
and customer updates onto the TV picture, ensuring your brand is represented
and marketed to your customers at all times throughout their visit.
Focus Point
IPTV and digital signage utilised
effectively in a waiting area can create
a pleasurable and memorable
customer experience, ensuring a good
chance of repeat business and brand
loyalty.
If the experience of visiting an advisor in a bank is pleasurable customers will
not worry about coming back time and again, creating a sense of loyalty and
creating a bond with the bank; ultimately adding to the businesses bottom line,
ensuring return on investment in any technology is achieved.
Paramount to all of this is the necessity to keep content fresh and new,
customers visiting to discuss a mortgage may visit the bank every week for
several months; they will soon start noticing if the signage has not been
refreshed.
So, aside from having an effective system and the means to promote your
services and offerings, it is also vital that you ensure that access, control and
content creation is as simple as possible. Working with a partner who can
provide a comprehensive yet simple Content Management System (CMS) is
vital.
Banks face challenges of all types, whether it is improvements in internal
training, communications, POS marketing or promotions there are tried and
tested solutions available.
About Tripleplay
Tripleplay is one of the world’s leading innovators and developers in IP digital
media and has helped a number of finance and banking organisations around
the world solve problems such as these.
With digital signage, IPTV, video on demand and video streaming solutions all
enabled through a single user interface and server, the Tripleplay IP digital
media system is a high quality, simple to use and cost effective solution for any
organisation.
For further information visit www.tripleplay-services.com.
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@tripleplayserv
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