01/2010
S I G N A G E
ISSUE
D I G I T A L
SPECIAL EDITION
DIGITAL SIGNAGE IN BANKING
Up to date, interactive and successful
Music in the bank: Security and discretion in the customer area Interactive: Assistance in communicating with clients Column: Right now,this very day... by Ronni Guggenheim
BANKING Contents
BANKING
Editorial...................................................................................................................................Seite
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Coverstory Digital Signage at Points of Banking – great!..........................................................................Seite 4 Technical DIGITAL SIGNAGE IN A BANK BRANCH WHAT DOES THE IT DEPARTMENT SAY?..............................................................................................Seite 11 Wincor Nixdorf “Advertorial” MOVING IMAGES MOVE THE CUSTOMERS DIGITAL SIGNAGE-CONCEPTS FOR BANKS.........................................................................................Seite 13 Marketing Why IS THE TELEVISION A GRETAT COMMUNICATION PLATFORM...........................................Seite 15 Interactive INTERACTIVE DIGITAL SIGNAGE THE SUPPORT OF THE CUSTOMER-BANK RELATIONSHIP CREATES A NEW FORM OF BANKING EXPERIENCE..........................................................................................Seite 18 AUDIO SECURITY AND DISCRETION THROUGH MUSIC IN THE CUSTOMER AREA.................................Seite 22 Case study: easy credit EXCEPTIONAL MOMENTS.............................................................................................................Seite 25 Kolumne RIGHT NOW, THIS VERY DAY.... ARTICLE BY RONNI GUGGENHEIM....................................................................................................Seite 27
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RELEVANCE 01/2010
BANKING Editorial
Dear Readers, Good news: In 2010 everything will be different and better than in 2009! Optimism for the already commenced New Year can be felt from many different angles! That it will be different than 2009 is absolutely certain! If it is going to be better will also depend on the actions of people and companies! Also in the banking sector confidence is burgeoning again for the near future. A difficult year has come to an end and in many places different and better strategies needed to be worked out, analyzed and decided upon. Already now, in 2010, these new plans are going to be put to the test: in the implementation phase and the first results! The often propagated new old concepts are “to regain or strengthen the trust of the clients” and “to systematically save costs”. In some banks this is also expressed by a forward-looking rethinking in regards to communication with existing clients, approaches of new customers and customer service. But what can bank customers now expect? Is the up to now apparently neglected direct customer dialog going to experience a renaissance?
maybe changed life situation? Can I have products presented and explained to me in my branch office in a pleasant atmosphere without a “pressure to buy”? Personally, I cannot answer questions like these, but in 2010 banks’ multimedia technology used in customer relations will certainly play an even greater role. Be it on the internet, through touch screens or cell phones – even banks are adjusting to the modified information and buying behaviors of their clients. Digital Signage at Points of Banking is implemented as a consequent advancement in customer communication in combination with existing communication tools. Various marketing goals can be achieved more efficiently and effectively when seconded by Digital Signage.
Is my bank offering me the possibility to do business with it, when I have the time?
The fact that the demand for, as well as the implementation of Digital Signage solutions in the banking sector have already increased distinctively in 2009 was reason enough to address this subject in more detail in a special issue. I would like to thank the experts for their contributions and wish you all that things will become different or new and especially (even) better in 2010!
Is my bank now even actively offering me advantages through adequate products that suit my current,
Daniel Gasser Editor
Impressum Publisher: Relevance Consulting GmbH, Tulpenweg 86, CH-3098 Köniz, www.relevance-consulting.com Editor in Chief: Michaela Holy, Jens Dautzenberg The authors take full and personal responsibility in the texts written by them. If a law is broken, the responsibility i staken by the authors. Authors in this issue: Jens Dautzenberg, Ronni Guggenheim, Eckhard Reimann, Barbara Trachsel, Günther Pöttinger, Marcus-Michael Müller, Alexander Dal Farra, Manfred Bögelein Graphics: Relevance Consulting Marketing, Media Inquiries, Advertising and Partnerships E-Mail to: e-magazine@relevance-consulting.com The transfer of content - both as a whole, as well as concept - of this website and its associated magazine is not permitted without the written permission of the editorial team.
RELEVANCE 01/2010
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BANKING Coverstory
DIGITAL SIGNAGE AT POINT OF BANKING – GREAT! By supplying their customers with ATMs over 25 years ago, banks had already very successfully introduced a first form of today’s interactive Digital Signage. This leading role is still perceivable today: in branch offices of the banking sector Digital Signage (DS) or Digital Communication Networks (DCN) are frequently and more and more commonly used communication tools. The fields of application are manifold and highly efficient and successful when implemented correctly! By Jens Dautzenberg According to studies, such as one conducted by the Platt Retail Institute (PRI), banks have been investing too little in their own branch offices and too much in mere traditional marketing for too long. However, one of the rare possibilities that a bank has to set itself apart from its competition is precisely through its branch offices. Competitive differentiators of banks in the product sector are rather slim. The products are complex, physically intangible and the customer can often not distinguish them from products of the competition.
The creation of brand awareness
When seeking long lasting success, it is all about discovering new opportunities and new fields of business, about more strongly reintegrating traditional strategies, fostering customer relations and regaining customer loyalty and trust. Bearing these aspects in mind, the old virtues – a personal customer approach and a good contact to the bank advisor – are experiencing a true renaissance, especially in the current situation.
As the names of these concepts imply, they are about having a coffee, staying for a chat, getting some information or replying to e-mails free of charge. In the ideal case, the client should walk into a bank like into a restaurant or any other meeting place. The bank’s branch office should constitute an active locality in the life of the client. Since, according to PRI, up to 90% of customer relations are either won or lost in the branch office, these approaches are understandable and apparently indispensable for a bank’s survival. DS helps banks to accentuate their brand accordingly and to give the visitor a desired “feeling” of the bank. The example of the Jyske Bank (see pictures) sets corresponding benchmarks in this domain.
This is a good time for financial service providers to revive the value of their branch offices and the enormous value added of customer contact. Because now, more than ever before, personal contact is important in order to preserve, build or regain trust. Why? Because this can lead to the sale of your services and to an intensive and long-lasting relationship with your clients. So how does a client choose a particular bank? Why did he choose just this bank? The external communication and information of a bank – how it “feels”, communicates and accentuates its brand – are important points for the durable acquisition of new customers. The branch office, in combination with the right communication tools, plays an essential role in the construction and the maintenance of the self-contained and differentiated branding of every financial service provider
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Introducing more or less innovative concepts in branch offices, such as „3rd place“, „Meeting points“, „Café with a bank“ or the „Dialog branch office“, can successfully make the customer return to his branch office. Not a new insight, but one that has long been neglected in terms of its consequences: The banking business is based on trust, and trust is primarily based on communication and personal contact!
Banks that use DS extensively Banamex (Mexico) 1,200 branch offices PNC Bank (USA) 1,000 branch offices Bank Wachovia (USA) 1,000 branch offices Commonwealth Bank (Australia) 1,000 branch offices Postbank (Germany) 850 branch offices Rabobank (Netherlands) 700 branch offices Caixa de Madrid (Spain) 500 branch offices BNP Paribas (France) 400 branch offices Credit Suisse (Switzerland) 300 branch offices * Source: Gesellschaft für Innovative Marktforschung mbH, Dr. Stephan Telschow
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BANKING BANKING Coverstory
Source: comma sport business
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5 Source: comma sport business
BANKING Coverstory
Existing customers or acquisition of new customers It is known that the acquisition of new customers costs much more money than selling additional products to an existing customer. This results in the banks’ current goal of getting each customer to purchase multiple products and in doing business with several members of the same family.
Digital-Signage-tools in banks are usually based on similar motives, even if they may vary in different institutions and according to the customer portfolio: - more flexible and up-to-date presentations of offers, - a pleasant way to fill the time during waiting periods, - their application as guidance systems in larger branch offices, - a motivation for clients to enter the branch office, - conveying advertising messages for their own products and those of their partners, with minimal wastage through perfect control of time of day and target audience.
Source: PRI As today personally addressed advertisements to customers by banks often land in the waste basket even before the envelope has been opened, more efficient marketing tools than direct mail need to be used. The various product folders available at the branch offices are also not read very often. Mostly so when a customer is already interested in a product and is seeking more information about it. But how do you actually attract the attention of a client to an interesting product? When is a client inclined to take in such information? In the branch office DS helps the customer become aware of specific products, as here he shows high involvement and an above-average acceptance toward this information. Furthermore, he is pleasantly entertained with interesting, complex subjects and useful information. Latest news and weather updates round off the programs requiring intense attention and give the client the impression that he can obtain a lot of useful things from the bank while experiencing a learning and acclimatization effect.
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DS also offers clear advantages for active communication: • Customers can obtain up-to-date information in the branch office • It is possible to be extremely responsive to regional differences as far as language and customer needs are concerned • enhancing the productivity of the branch office • Helping the bank advisor explain complex products • Preparing the customer for the meeting with his bank advisor • Assisting in the training of employees • Providing the possibility of making customers aware of new products and services • New products can be tested for their efficiency and be ameliorated anytime according to the test results • Efficient communication about the brand and differentiation through the application of a comprehensive, coherent Digital Signage Package per branch office.
RELEVANCE 01/2010
BANKING Coverstory
SOME MAIN POINTS OF APPLICATION AT THE POS OF BANKS Waiting periods at the counter According to studies by PRI waiting periods in banks are perceived much more pleasantly and shorter when Digital Signage is used. The client waiting in line is informed about products and services of the bank. If the programs are well designed, they will show offers and
Digital Signage as guidance system in a branch office: The whole path to the counter can be used to prepare the client for his meeting with the employee/bank advisor.
Source: PRI services at the right time of day corresponding to the present target audience. The installation of queuing systems can be interesting and efficient in banks, as this helps the customer estimate when it is going to be his turn. He can then move around in the branch office until his number is announced or displayed on screen. During this waiting period the customer can take in product information or visit the cafĂŠ for a pleasurable moment. Through the subjective value added of information or coffee in a pleasurable atmosphere, clients will come back to this branch office, even if they have to wait. If anything pleasurable at all happens during the involuntary waiting periods while visiting a bank, this is the first step to a durable customer relationship and enhanced sales per customer.
RELEVANCE 01/2010
A rigorously installed system already attracts the attention of the client in the area of the display window, motivates him to conduct an interaction there or leads him to enter the branch office, offers him several different activities and then guides him to the right bank advisor. In waiting areas and/or personalized areas the customer receives further product information. Even in the hall in front of the counters there is still enough space and time to address the client.
The display window: first contact with the customer Already in the display window passers-by can be made aware of services and products of the bank. The goal is to acquaint the customers with the brand and to make them enter the branch office by using adequate communication methods for each target group during the hours of operation.
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BANKING Coverstory
Interactive display windows that allow an interaction with the bank and its products 24/7 also provide attractive possibilities. Various banks use their display windows during and outside of the hours of operation, in order to communicate real estate offers via touch screen or general service information of the bank.
According to the Grassfish company these bulletin boards are placed in the entrance hall or the waiting areas of the banks. They offer the waiting clients information and entertainment, and establish a feeling of familiarity through the visualization of the customer advisor. Interactive Digital Signage
Bulletin Boards give an overview After entering the branch office a bulletin board can be useful for the customer to get an overview. The boards can display information and offers in different domains, such as the most important news, information and expertise of the bank on specific issues. Particularly in difficult times communication with the client is even more important. The customer gets an overview and can find his contact person on the digital bulletin board. The individual information on the different subject matters can either be published by the separate divisions or centrally through the marketing or press offices.
In a modern branch office of a bank, customers can search real estate offers on a touch screen by using different criteria. Of course, the system can also immediately offer the client a suitable form of financing and introduce him to the adequate contact person. The most attractive systems can even establish spontaneous communication with the bank advisor per touch. The client can receive advice directly over the system or arrange for a meeting with the advisor. An important point: if the customer is interested, he has the possibility to react immediately. Naturally, the presentation of the objects through such interactive tools can automatically be tailored to the specific needs of the branch office and its clientele. These systems can be installed in display windows and the self service area accessible 24/7, and inside the branch office itself.
Source: PRI
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RELEVANCE 01/2010
BANKING Coverstory
Effectiveness through content and integration into the architecture The complete effectiveness of the DS-System is of course deployed through its acceptance by the clients. And the acceptance by the client is primarily dependant on the relevance of the displayed content. [Dafür gilt… rest of the sentence seems to be missing; or was this supposed to be deleted?]. No less important though is the integration of the digital information system into the existing architecture of the branch office! How is Digital Signage implemented correctly? This recurrent question stands in direct relation with the general question about factors of success The whole evolution of Digital Signage resembles the issue of the internet some years ago. Different statements and theses are made about its effectiveness and success. There is certainly nothing mysterious about Digital Signage, but it is unfortunately also not a business which can promise banking institutions a sudden “guarantee of success” or “huge new advertising revenues through advertisement screens in the branch office”. Digital Sig-
nage is a normal business just like internet is today. When Digital Signage is well designed and implemented as a communication tool, and its success is measured and its content adapted, then this solution contributes to a sustainable success for the whole communication medium and thus for the institution.
Important factors of success are: • setting clear goals of what shall be accomplished • securing the support of the management for the project • considering the relevance for the customer in relationship with the goals • assuring an annual budget for content and adjustments (the purchase alone is not enough) • do it or leave it – doing things only half heartedly does not lead to success • integrated communication with the existing means of communication and DS • collaboration with the best specialists of the domains Technology Content Communication
Source: PRI
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BANKING Coverstory
What is happening internationally
Trust through up-to-date, honest information
According to different national and international suppliers of Digital Signage, there is a demand in the banking sector for digital communication solutions. Various institutions are testing the application with pilot installations internally in their companies and in the POS. Solutions installed in other banks are often used as benchmarks.
Bank customers generally feel insecure. Up-todate and honest information establishes sympathy and trust. The differentiation through up-to-date, honest information can be achieved through a centrally operated Digital Signage network. The communication division of a company has the possibility to publish its own statements on news reports concerning the market in real time and to present them from their own point of view.
„A well considered Digital Signage solution is also a good investment for banks in more difficult market conditions. With the right mix of different Digital Signage components the client can be informed effectively!�, says Teo de Lange, who is responsible for the Business Development of the American software provider Cool Sign.
No other communication method allows this flexibility and rapidity in the release of information on current issues. Particularly in times of crises a more progressive information policy can establish or reinforce the trust of the clients. Much potential is still slumbering inside financial institutions governed by public law and cooperative banks. Even though number of centralized offers exist, the decentralized organizational structure of the individual independent units and institutions often leads to different activities, systems and developments.
Jens Dautzenberg After 15 years of international competitive sport and a business degree with a focus on marketing and business policy, Jens Dautzenberg took over a nationally operating agency from the marketing & sales sector in the lates 2005, where he established the digital signage area, primarily for the banking sector. Since mid-2008, Dautzenberg is the founder and Managing Director of Comma Sports & Business, a full-service agency in Marketing & Consulting. In addition to the traditional focus of the marketing consulting, the strong point of the agency is the dynamic communication.
Another great opportunity for banking institutions is to outsource the POS – to the customer himself. An interactive kiosk system in car dealerships or home-centers is a variable and extremely efficient model of cooperation. In the end, people still buy from people. They do this when they are able to communicate. General information is more and more frequently presented through electronic media. This is the wish of the customer and it seems to be the role of the banking institutions to fulfill this wish. Digital Signage constitutes an important bridge between informing and acquiring customers and the following steps in customer approaches.
The digital Signage portfolio covers all major components - software, hardware, content production, project management and implementation. The spin-off of the digital signage business into an independent company is in the planning stage.
Contact: dautzenberg@comma-sports-business.de
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RELEVANCE 01/2010
BANKING Technical
DIGITAL SIGNAGE IN A BANK BRANCH WHAT DOES THE IT DEPARTMENT SAY? Large screens in the entrance area or at the windows inform the customers about the newest products or the current interest rates. In the ticker, economic and stock news are running. Local news are inserted at regular intervals. Using the bank’s corporate design, customers are animated to enter the branch. A digital path-finding system leads the customer to a contact person. The in-store TV helps to spend the time waiting. The interactive terminal aids the consultant in a conversation with the customer. In times of the financial crisis fast responses are required. Employees have to stay up-to-date on changes and current regulations and to be motivated to implement them. A live-streaming solution or a recorded video call can be used to that end. Digital Signage is appropriate not only for speeches but also for trainings. The specialist sees the ideal marketing and communication scenario in a bank branch as something like the above. But how is the message transferred to the screen? Who is responsible for the system’s maintenance and who guarantees that the content does not become obsolete and is not displayed erroneously? Who stands to help if the system breaks down or solutions have to be modified? Who is in charge of security? Is the data safe from unauthorized access and can manipulation and wrongful use of the hardware be ruled out?
If the marketing department decides to use Digital Signage solutions it should combine it with the possibility of servicing the system, plan own campaigns, make regional adjustments and use existing material from the TV, internet and printed media. Content has to modified, prepared or created, templates have to be defined and existing marketing campaigns have to be integrated. Simultaneously Computacenter starts to plan the technical realization in cooperation with the IT department. The delivery, configuration and roll-out of the equipment show the value of an internationally successful service provider’s experience. When the concept is ready, it has to be decided whether the existing infrastructure can be used or a new UMTS network has to be put into service. The latter scenario guarantees an uninterrupted data flow. Another question that has to be decided early on is whether the bank’s central computing facility should be used for the data storage or whether it should be hosted externally. It is often the case that specific content is transferred to the terminals using existing ways. It should be assured that this data gets priority in the virtual private network (VPN), otherwise errors may crop up at the video-streaming later on. If the data transfer routes are used for streaming, there is also a risk that the entire network will be slowed down. One possible solution is the transfer of video, pictures and text to the player at night.
The coordination of marketing and IT: the technical solution is based upon the concept The requirements for the system are complex and the possible solutions numerous. Whether internal IT department or external service provider: the early coordination with IT specialists guarantees a glitch-free implementation, a fast roll-out and a reliable and secure operation. It is important to define the various requirements at planning stage if a Digital Signage implementation is to be successful. The requirements set forth by the marketing and communications departments may already produce the right solution. It is important that the interface be user-friendly, as only such an implementation is going to be accepted by the customers.
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BANKING Technical
Synergies appear if existing service and maintenance contracts with hardware and software manufacturers can be used or expanded to encompass the new load. The software offers various possibilities, as some programs provide sockets for Content Management Systems while others can be combined with existing solutions. Another possibility is the use of completely detached management software which is isolated from other programs and applications and so does not affect them. All solutions monitor the systems and generate alerts if errors are detected. A good service and support concept is helpful to quickly correct the errors and exchange the defective hardware. Support for the software is usually provided by the manufacturer. For the hardware, service contracts with IT service companies can be used. It is best for the branch if support can be called upon through one central hotline number. A check of bandwidths in the existing network defines whether content can be transferred and live videos can be streamed. Computacenter recommends for such a check to be done at least before every major installation. Along with the setting of priority for video data, bandwidth should be reserved for WAN transfers to avoid breakdowns in critical business data transfer. This is more likely to be attainable if the WAN network belongs to the company rather than to an external provider. Complete-coverage solutions with a system at one place, a separate broadband access point and preloaded content which is transmitted to the terminal, are the easiest way to go and are fairly secure. In such systems a simple PC or Digital Signage-Player with client software is connected to the central server over the internet. The data from the server are stored locally so that the Digital Signage screen plays back media even if the internet is not available. An update on the contents is provided by the agency, corresponds to the bank’s corporate identity and is delivered daily or weekly depending on the contract. Such a solution is recommended for location that have limited bandwidth for internet access. Data is transferred at night or with a time lag over the UMTS network. However, the options of modifying the contents are severely limited. Stored data cannot be used or modified without external help. This is the reason why many banks decide against a solution that is governed externally. A much more encompassing solution is the construction of a media network with internal hosting. It can be used for video communication and surveillance as well as for Digital Signage or an in-store TV . The administration and maintenance of a single network is easier for the IT department to manage than different components. After the IT department decides on the way the data is transferred to the displays, a video readiness check should be administered. In the central computing facility a server is launched which transfers contents to the players. This server should be monitored by the bank’s system administrators. If the data is provided by external
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agencies, it is recommended to set up a second server which is mirrored via VPN. Thus, external access to the central computer is prevented. The screens and the player are configured and tested at Computacenter, then delivered to the location where they are to be used and put into operation. If the roll-out is well planned, the setup at the location (including the installation, log-on and synchronization) takes less than 30 minutes. If a Digital Signage solution is to be successfully implemented and securely operated at bank branches, the IT department and a service provider like Computacenter have to participate at the planning stage already, especially if the solution is integrated with the infrastructure. Surveillance of the system by an administrator is necessary. The service and support during operation is especially important as any problems become immediately visible to customers and employees alike. The following are points which are often left out in the marketing department’s planning of a Digital Signage solution.
Marcus-Michael Müller Born 24.09.1969 married with 2 children Marcus-Michael Mueller, 40, is from the Lower Saxony. After studying Industrial Engineering, he worked for various national and international IT companies as head of marketing and product management. For the last 2 years he has been creating and building Computacenter, one of the largest IT system houses in Germany, regarding video solutions. These include centrally controlled digital advertising and information systems and video learning solutions. He knows the requirements for a digital signage solution from his own experience and from different perspectives: As Business Unit Manager for Video Solutions, he gave special importance to the technical implementation, rollout and easy management of systems in operation. Because of his previous work in marketing, he is also very familiar with the content requirements and is aware of the acceptance problems, the agencies or marketing departments have with the new mediums. Contact: Marcus-michael.mueller@computacenter.com
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Wincor NixdorfBANKING “Advertorial”
MOVING IMAGES MOVE THE CUSTOMERS DIGITAL SIGNAGE CONCEPTS FOR BANKS Rund zwei Drittel aller Bankkunden nutzen ihre Filiale About two-thirds of bank customers use their bank branch regularly, especially for routine transactions, cash retrieval, account information and wire transfers. Unfortunately, direct communication with bank employees takes places rarely. Therefore, banks are increasingly faced with the question of how to advertise new products if there is no direct conversation with the customer. Experience from retail show that almost 70% of buying decision are taken at the store. About 50% of the consumers use offers from in-store advertisement, while over 80% of advertisement budgets are still being spend on outside ads. To get back to the bank branch: a “cold approach” to the client is risky in that situation. As it is rarely known what the customer’s life situation is and thus whether one or another offer will be interesting for them. Often customers regard the direct address as annoying.
Wincor Nixdorf offers banks a Digital Signage solution concept which overcomes this obstacle. The central point is not the advertisement of specific products but rather the customer and their variety of life situations. Only in the second step those situations are addressed with appropriate product offers.
Self-activation of the customer The aim of the Digital Signage solution is to lead the customer into a consulting conversation through their own thematic affinity. Moving pictures and visual affect serve as a medium to awaken the customer’s own initiative. For example, with the help of an interactive terminal in the customer area of their bank. The keyword is “discrete interaction area”. With few clicks the customer decides on their own which information pose an interest. Instead of forcing a decision on the customer the rule is to wake their interest
Source: Wincor Nixdorf RELEVANCE 01/2010
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BANKING Wincor Nixdorf “Advertorial”
and thus engage in a dialogue. The customer can decide whether to get additional information in a conversation or through other means like phone and e-mail.
The Wincor Nixdorf company
For the bank, the advantage of this solution concept lies in the coupling of the branch’s retail lines with other retail possibilities, however, prerequisite is an integrated multichannel management and the cross-channel use of customer data.
Wincor Nixdorf is one of the worldwide leading providers of IT solutions and services for retail banks and retail stores as well as their branches. The focus is placed on the optimization of business and IT processes. To this end Wincor Nixdorf promotes a consumer-oriented, economically efficient and international approach to business.
The responsible employee in the branch can thus get all the needed information about the customer and organize the consultation accordingly. To that end, modern surfaces are added at the consultants’ desks, like Microsoft Surface.
The portfolio includes process automatization and the transfer of standard and service process to selfservice systems. Wincor Nixdorf offers consultation as well as the adaptation of IT solutions to individual requirements and their local implementation and integration.
Of paramount importance for the success of Digital Signage projects is the concept behind them, as Manfred Bögelein, senior consultant at Wincor Nixdorf knows. Those who think of Digital Signage as a purely technical product are dead wrong. “The best technical implementation doesn’t help when the processes behind it aren’t right. Content is everything!”
The know-how attained from the core business with banks and retailers is used to expand to neighboring branches. These include postal services, lottery, gastronomy and gas station branches. Wincor Nixdorf is market leader on the ATM market in Germany and holds the second place in Europe. The enterprise has branches in over 100 countries and has 37 subsidiary companies. Over 9300 employees work at the holding.
To evaluate the project’s success later on, extensive monitoring is necessary. “This allows to analyze, how many visitors of the bank branch reacted positively to which products, ran the check and continued to consultation.”
Manfred Bögelein Coupling technological competence and banking know-how To implement Digital Signage projects Wincor Nixdorf offers the banks technological competence coupled with banking know-how and the experience of many 1-to-1 marketing projects. The service spectrum of the Wincor Nixdorf consultants for sales optimization includes consultation and concept of encompassing Digital Signage, 1-to-1 marketing and CRM solutions. Advice on software is given and if needed, implemented in the existing CRM and multichannel solutions. Further services include content creation and management, delivery of the required hardware and the maintenance and support of the chosen solution. If required, Wincor Nixdorf also takes over general management.
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Manfred Bögelein is Senior Consultant at Wincor Nixdorf. His duties include the support of banks and financial service providers, starting with innovative branch concepts and to profitability analysis.
Contact: Manfred.boegelein@wincor-nixdorf.com
RELEVANCE 01/2010
BANKING Marketing
WHY IS THE TELEVISION A GREAT COMMUNICATION PLATFORM? For banks of today, trust is more important than ever before. This trust can be established and strengthened with an empathic, trustworthy, respectful culture of communication. Plasma screens in the counter area can play an important role in the communication mix of a bank. By Barbara Trachsel The counter hall or the entrance area of a bank are the ideal location for effective communication, as the potential recipients are mentally in “banking mode” already and thus especially responsive to their bank’s information. Additionally, messages deliver on the bank’s own grounds have little to no competition from other information sources and so have a real chance of being noticed by the observers, especially if they have to somehow spend waiting time. These advantages become even more pronounced when the information is delivered with the help of screens, which generally operate with dynamic, visual images. It is natural for humans to react to motion. Studies have proven that screens quickly attract attention to themselves.
To use the heightened attention and to deliver values Thus, in a counter hall the communication ways are conducted on home turf and attract much more attention that on neutral ground. In this “communicative security area” a high amount of customer binding and goodwill can be achieved.
achieve the desired effect (new customers, recognizability etc.) However, in a counter hall the opportunity,and the necessary attention, is present to offer the customer a more differentiated and more informative picture of the company that offers those values and thus gains sympathy.
The virtual customer support Screens can display different content in a short period of time and thus address different target audiences or needs. That way visual messages can be mixed with current interest and exchange rates, stock exchange news or unrelated information like weather forecasts, sport event results or cultural events. The screen provides not only infotainment but also plays the role of virtual catering for the waiting customers. Of course, no screen, even when outfitted with an interactive interface, can replace personal conversations with a consultant. However, it’s very well suited for giving impulses and entertaining, and some questions can be answered with its help, as well as interest for specific topics awakened. Thus, the customer gets the impression of being cared for even while waiting.
The focus is not on gaining trust as those in the counter area usually are clients already, but on increasing trust and support the customer in their decision. For service providers in the financial sector it is especially important that customers can identify themselves with the values and attitude to life of the providers. “LOHAS” - the “lifestyle of health and sustainability” defines the direction in that area today. Material safety and individuality, sustainability and stability, health and freedom of stress are the metatrends of values that have to be followed. In the “wilderness” communication has to be limited to the essential core and the messages have to be short and focused to
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15 Source: John Lay Solutions
BANKING Marketing
Risks and side-effects
For better or worse
There are, however, do’s and dont’s to achieve best results through the use of screens. The most important thing: Advertisements of third parties have no place in this concept, as it undermines the “informational sovereignty” which a company enjoys at its home turf.
Last, not least screens in the entrance area provide for a great platform to voice opinions about current affairs, even if those opinions aren’t always of the positive kind. As mentioned before, the most important currency a bank possesses is the trust of its clients, which is gained through sincerity and frankness.
However, large-scale advertising attacks featuring a too-heterogeneous mix of topics are counterproductive, as is an insistent, anxious presentation of the information and messages. The technical and visual opportunities notwithstanding, this communication way is also governed by the rule “less is more”, and the formal as well as content quality have to satisfy the highest requirements, as well as the regulations set forth by corporate design. It’s especially important to avoid excessive audio additions and not to over-abuse film sequences. It’s also important for the information to be repeated in relatively short loops. The highest priorities are trustworthiness and a quiet yet animating atmosphere. The customer should not be flooded with information but rather feel relaxed, stressfree and well.
Barbara Trachsel is CEO of the communication agency Republica of Bern, Switzerland. Republica offers “360° communication” and designs as well as Implements Effective, Integrated Communication Solutions for Advertising, Branding, PR, Internet Projects and Events. Contact: Bala.trachsel@republica.ch
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Source: John Lay Solutions
Banking Special Edition
AUSGABE 02/2010 RELEVANCE 01/2010
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BANKING Interactive
INTERACTIVE DIGITAL SIGNAGE THE SUPPORT OF THE CUSTOMER-BANK RELATIONSHIP CREATES A NEW FORM OF BANKING EXPERIENCE Financial service providers are nowadays immersed in a media landscape which becomes more and more diverse, and customers access banking services through different channels according to their personal needs. The banking industry will continue to exist, but its form will change. It will be replaced in its exclusivity by multichannel-banking, and every bank will have to create a competitive mix of retail ways. Concepts like convenience store banking, store banking, in-store banking, cyberbanking, mobile banking as well as experience banking, marketplace banking (with a snack corner), internet cafés and youth banks define the branch system today. The question remains, however, how the branches will be equipped and whether the comforts offered will lead to longer waiting times stemming from a lack of personnel. The customer doesn’t want to have a cup of coffee because they have to wait endlessly for their turn - rather, it should be a little treat after all business issues are settled. And nobody wants to get the feeling to be in the waiting room of an administrative institution.
for communication and transaction, a spatial as well as human presentation and a self-service unit. The goal of the new customer hall is the creation of an environment, a lifestyle and an experience. In the counter hall of the future the focus is not solely on representation, but rather on communication, not only on the respectability of money, but on real exhibitions of life; there, work, discussions, arguments take place and services of the new genera-
Source: John Lay Solutions The Lifestyle customer hall: The customer hall becomes more and more a meeting point of and between people, a stage for visions, the basis of adventure banking, a point of sale, a place
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tion are offered. The bank of the future will be something like a “money-bistro” or a “financing-bar”, but not a bank in today’s point of view. The new lifestyle-halls become places where the bank and its customer defy the tendency of ever-increasing depersonalization that stems from the
RELEVANCE 01/2010
BANKING Interactive
advances of virtual banking, and get together in person once again. But the re-branding is more than a simple refurbishing which leaves everything as it was and just provides a more colorful and appealing wrapping. Rather, it is integrated into the bank’s marketing concept, and so new concepts of customer communications become more important along with the architectural design of the customer hall.
Those who show a good example: Banks and saving banks compete in their appearance with retail stores and build their facilities with large windows that allow customers from the outside to look at what is going on inside. Once inside, the customer is “seduced” by the appropriate atmosphere, the use of complex lighting solutions and multimedia content. Examples are the Zuger Kantonalbank which has once been the Mekka of bankers when it came to multimedia, the Sparkasse Forchheim which was nominated for “Branch of the year” at the CeBIT 2005, or the the Investment and Finance center in Berlin laureate of the „Q110 – The German Bank of the Future“ award. Today, the aim is to inform the customer, who has become competent and knows their ways around interactive media, about the different complex banking products. Only a short amount of time which the customer spends
at the bank branch is available to achieve that goal so it becomes important to use the waiting times at the ATM efficiently. Digital Signage has proven to be very helpful at this task, but Digital Signage has to be more than just television or just advertising. It has to consist of different content forms focusing on the bank and its services mixed with
RELEVANCE 01/2010
global, national and/or local information. The information has to be integrated into a marketing campaign which the customer can remember from the TV, the internet, the leaflets and the conversations with bank employees. A milestone for that has been set in 2004 by the Raiffeisen Landesbank Niederösterreich/Wien with the Digital Signage system “Raiffeisen-TV (R-TV)” which displays customized information for the counter, cashier and entrance areas and also provides global and local news randomly or deliberately composed. This customized mix turns R-TV into a local, digital, up-to-date morning paper for customers which is cheaper than any comparable printed edition and that has gained a great degree of popularity among the bank’s customers. The kiosk terminals outfitted with R-TV offer the customer to get more information on the presented content and also to get into conversation with a bank employee, which is a wish put forth mostly by young ATM users in a study conducted by NCR.
WOW-effects: One of India’s largest banks, the State Bank of India (SBI) has recently used Digital Signage to specifically target young car buyers. To that end after the PR-Rallyumbai-Lonavala a marketing campaign for car credits has been implemented through a Digital Signage system at selected locations in Mumbai and especially at ticket counters of Western Railway and at airports. At some locations the customers can answer to the messages on the displays from their mobile phones or send SMS and MMS messages which appear on the screen. In this manner SBI was able to generate leads to new customers and establish a contact with them. The ING DIRECT USA, one of the USA’s largest direct banks, uses Digital Signage to initiate contact with the customers. In ING DIRECT’s new cafés, screens were installed, and passers-by saw information about new banking products as well as current beverage offers through the windows. Source: John Lay Solutions Thus they were animated into entering the café. In the bank-café the customers can control the displays via touchscreens, getting information about new banking services for themselves as well as for the other customers. The customer halls of the Umpqua Bank which has over 200 branches in Oregon, Washington and California are more like boutique stores, internet cafés or coffee shops
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BANKING Interactive
than traditional bank branches. For that reason they are called “Neighborhood Stores”. The center and so-called eye-catcher of those stores is a “discovery wall”, which is a video wall consisting of four displays showing animations and movies about the bank’s different services on the entire wall. It allows employees and customers to interact with the content and get more information on specific topics. By raising one of the colored objects, a RFID signal prompts the nearest touchscreen to launch a presentation about one of the bank products. The customers can interact with the presentation and in the end they are given the option to print such a “digital booklet”. In the HomeOwnership Center of the Bank of America people looking for houses and apartments are offered Digital Signage at so-called Display Points since 2005. At the DisplayPoints kiosk terminals pictures of eye-catching houses are shown. Once a potential customer enters the vicinity, the DisplayPoint switches to active mode allowing the customer to search for interesting objects and immediately use a calculator to estimate the financing possibilities. The customer may also ask an employee for more information at any time. A mention also goes to the Alior Bank of Poland which has been founded in November 2008 and strives to attract customers through the use of new media. In the display window passers-by are attracted through short spots which are product- or image-based, after which they are animated to enter the branch and start a query. Inside the bank the customer is greeted by a variety of 40’’ screens which offer an overview and direct them to the corresponding consultant. At the counters, in the consultation areas and basically everywhere where it could come to waiting lines, so-called broadcast screens inform the customer about products and services, so that when finally entering a conversation with a consultant, the consumer is well-prepared. The customers also have the option to inform themselves through interactive terminals in the branch. These examples show that it is not sufficient to broadcast product advertisements or other information. Digital Signage has to supplement a wow-effect for customers and potential customers and to lead them to stopping and look at the message more closely. But this alone isn’t enough, as the customer has to get the opportunity to deal with the information presented on-screen more intensely. This is achieved best when active information gathering is possible, meaning the use of an interactive tool. In the examples shown the institutions solved this tasked by different means.
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Eckhard Reimann Eckhard Reimann studied economics at the Rheinische Friedrich-Wilhelms University in Bonn. He is a consultant for E-Kiosk & Digital Signage applications (www. ERCM.de), was officer for E-kiosk at the Bundesverband Digitale Wirtschaft for 7 years (BVDW) (formerly German Multimedia Association (dmmv ) e.V.) and for 28 years he was marketing manager for retail banking and CRM solutions at Unisys Germany GmbH (formerly Remington Rand and Sperry Univac). He then worked for 2 years at METRA DIVO (formerly DIVO Institute for Economic and Social research and Applied Mathematics GmbH) as a project manager pro in Urban and Regional Research. He is the author of over 1,300 specialist articles about multimedia, self service, retail banking, CRM and multichannel management, co-editor of “Practice Handbook in Customer Management” (Oct.2007) and author of the E-kiosk and Digital Signage Study “Media City Report with multimedia in the fast lane”. Between 2002 to 2005, he was the Chairman of the Jury for kiosks systems and interactive rooms installation for the German Multimedia Awards, and has co-created the conferences SMART KIOSK 1999 to 2002 in Berlin and Stuttgart, KIOSK Europe Forum 2003 in Dublin, KIOSK World Asia 2004 in Singapore and the KIOSK EUROPE EXPO 2007 and 2008 in Essen. Last but not least, he has been organizing and moderating the “E-Kiosk & Digital Signage networking“ event since May 2008, which so far had over 300 participants. Kontakt: E.Reimann@ERCM.de
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BANKING
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BANKING Audio
SECURITY AND DISCRETION THROUGH MUSIC IN THE CUTOMER AREA
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RELEVANCE 01/2010
BANKING Audio
In the case of banks, neither the optical presentation nor the design of a counter room or self-service zone are left to chance. Those design elements are meticulously planned and their relevance is undisputed. They are important to demonstrate qualities such as solidity, innovation, trust and discretion. However, for the definition of a bank’s “acoustic” image little to no guidelines exist. The following article shows the impact which can be generated by the systematic use of acoustic solutions and the important factors for the choice of music.
It is not uncommon on the market that little attention is paid to the acoustic design of a bank or hotel. For example, in well-off four-star hotels the interior design and the lighting are carefully chosen, but the music in the reception area is often left to the current mood of the receptionist. In rural areas it happens that the reception area of a bank plays the local radio station which may broadcast music as well as local traffic information. Such an approach may appear to be appealing at the first glance, but it is not good for the atmosphere and gives the general impression of low professionalism. With dynamic communication ways gaining importance in the banking business, the keyword being Digital Signage, we perceive an increase in the sensibility towards acoustic solutions.
Variable musical concepts Different customer areas require different musical solutions. In the banking business we discern between the following logical areas: • Counters • Reception/Private Banking • Self-service zones/ATM’s
These areas have to be outfitted with the appropriate music. To ensure the technical implementation this requirement should be taken into account as early as the planning stage. However, such acoustic zones can also be created subsequently. An important role in the acoustical well-being is taken by the sound’s volume. While the music in the counter area should be loud enough to prevent customers from eavesdropping on the others’ conversations at the counter, other rules apply for the private banking area with respect to both the type and the volume of music used. In the around-the-clock self-service areas the musical background at night and on weekends seeks to grant the customers a sense of safety. Thus, the goal of the acoustic presence in a bank can be summarized as “The right music at the right place at the right time, used to ensure the best possible customer satisfaction”.
Three factors are important for the right choice of the music mix: • Customer profile • Bank profile (brand) • Employee profile Customer profile As we have already indicated, different kinds of customers usually inhabit different areas of the bank. In the counter area the majority often consists of older customers,
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RELEVANCE 01/2010
Source: DMD2
BANKING Audio
a music mix. That starts with volume equalization of the tracks and goes to an ever-changing song sequence. While local solutions based on a musical computer often make the modification of the playlist a complex action which is difficult for the users to handle, a streaming solution doesn’t have that problem at all: the music is just always up-to-date. The access to music over the internet brings further advantages: the music mix can be arbitrarily complemented by welcoming messages (in the around-the-clock area) or with radio spots. Using internet technology these elements can simply be integrated into the music flow. In addition, branding elements like jingles or messages support a unified image. Source: DMD2 while in the self-service area and at the ATM’s you are more likely to find younger people. The customers in the private banking area are yet different. It is, however, important that the customer profile be not the only parameter that influences the choice of music.
Bank profile As a kind of groundwork the profile of the bank itself has to define the acoustic mix. For example, classical concerts might not be always appropriate for a young, dynamic bank. For a savings bank in a rural area traditional folk motives might not correspond to the brand values. We always advise on a musical concept that leans on the bank brand’s values, which we develop together with the executives in an iterative process. Employees It is often underestimated, what impact incorrectly chosen music can have on the employees - especially of the negative kind. In the ideal case the music supports and motivates them. However, when used incorrectly, it can have quite the opposite effect: a trendy chill-out song may suit the newly designed bank logo, but some employees may be unnerved by the monotonous, repetitive stances. Our experience shows that the diversity of music is especially important for the employees, because few people enjoy listening to the same song all day long.
Further design options and acoustic elements
Another important advantage of streamingbased music solutions is the simplicity and cheapness of the corresponding licensing. All the efforts are directed at the creation of an appropriate image of the bank in the different areas. Of course we do not say that in every area music has to be played, but doing so vastly improves the customer experience by supporting the right music to create a positive and relaxing atmosphere.
Alexander Dal Farra Alexander Dal Farra, founder and Managing Partner of Digital Media Distribution AG (www.dmd2.net): „The potential for the use of audio appliances is especially high in the business world because human emotions are affected by music. Especially in the context of marketing that provides for excellent opportunities.“ DMD2 provides B2B music solutions for all kinds of rooms in hotels, retail stores, banking and corporate branches. Alexander Dal Farra is a renowned professional in the field of internet and communications. From his love for music he founded an enterprise that combines all three ideas with innovative marketing. DMD2 successfully cooperates with the leading enterprises in the field of Digital Signage. They realize that the right musical solution becomes an integral part of a complete communication concept at the point of sale ever more.
The use of streaming-based musical solutions allow a much better control over the deciding factors in
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RELEVANCE 01/2010
BANKING Case study: easy credit
EXCEPTIONAL MOMENTS In 60 easyCredit shops in over 50 German cities TeamBank AG of Nuremberg offers innovative credit products. Solid consultation and fair and transparent offers are their central quality features. This idea is supported by an innovative Digital Signage concept. Customized contents for the points of sale deliver the product in eye-catching, easily understood short videos. Local news, lotteries and current offers provide an animating program. This is accomplished through the use of a technology of intelligent content that maximizes production speed and reduces the costs for post-production significantly.
How do I make a banking product emotional? The problem is a serious one. But how do I make a banking product emotional directly at the point of sale? Meaning a place where the customer doesn’t have enough time, doesn’t concentrate and possibly won’t even watch until the end. If at the same time the product has to be explained, the advantages compared to competing products have to be highlighted, that poses a true challenge: Fast, emotional and rich on information - how do you accomplish that? That was the challenge facing TeamBank, a credit specialist of the FinanzVerbund which opened 60 retail stores for credit products calls easyCredit shops. The customer had to be attracted to the products offered in the shop. The principal claims about the product
have to be communicated emotionally and easy to comprehend. The specific advantages over the competitors’ offers should be highlighted. Only seconds were available. It was quickly established that classic POS media types weren’t up to this task. An in-store TV program featuring eye-catching product information, local offers and infotainment was a likely candidate. The program concept of “easyCredit TV” is explained by Jörg Bruch, regional manager of the Teambank, in the following way: “Our positioning with the slogan astonishing moments fairly granted is used in this communication medium as well. We implement it with a credit featuring fair conditions, when the relationship with the customer is always regarded as a partnership. Therefore we have consciously placed the customer in the middle of our in-store TV program. The fair
Source: easy credit
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BANKING Case study: easy credit
Source: easy credit
product advantages of the easyCredit are explained in short video sequences. Local events, lotteries and current news make the program variable and entertain the spectators.” A technical concept was required which would be able to implement the highly dynamic in-store TV program without consuming too much of TeamBank’s resources. The technological basis should be able to adapt to local specifics without much effort. But the most important point was that the production of a variety of local contents should not lead to excessive costs. A Digital Signage solution from Seen Media GmbH of Aachen, Germany has been used. “Intelligent Content” is the central point of Seen Media’s concept. What that means is that a solution has the ability to be adapted to local situations quickly and easily, once the corresponding content is developed. Usually the adaptation of contents to changing conditions like local opening times or local requirements requires an extensive post-production with corresponding high costs. For Seen Media director Stefan Knoke this is a concept belonging to history. “Using intelligent content, we are able to change conditions, opening times, contact persons, or other local specifics with little to no effort.” First, the central content of the campaign are developed. All local adaptations are implemented in our modern Digital Signage system with the help of overlay technology. Thus, large costs for postproduction are left in the past.” The extremely fast production speed, combined with adequate costs allows for short campaign planning time and a high campaign frequency. Additionally, campaigns can easily be supplemented by local information or be adapted to the requirements of sales partners.
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“With easyCredit TV we broaden our multichannel strategy and add a powerful communication tool for use at the point of sale”, concludes Jörg Bruch. “Digital Signage solution have an enormous potential which we are going to consequently use and expand.”
Dr. Frank Goldberg Dr. Frank Goldberg is managing director at Smart TV-Networks GmbH, a consulting firm for the IT and media sector with competence focus on digital signage. Smart TV-Networks helps companies in the introduction and continuous development of digital signage solutions. They define the communication goals and program structures together with the customer, and create technical and business concepts. This is the preparation of tender documents and is subsequent to vendor evaluation. Smart TV-Networks also develops business plans for digital signage solutions and evaluates their marketability. Such projects have been done, among others, for Team Bank AG (Nuremberg), the German Postbank AG, the Munich City Savings Bank, the Readybank and the SATURN hypermarkets.
RELEVANCE 01/2010
BANKING Column
RIGHT NOW, THIS VERY DAY.... ARTICLE BY RONNI GUGGENHEIM
Many people ask themselves why banks in their traditional form still have any right to exist, given that the profit-based capitalism rooted in the Western world is somehow already outdated. In the past, the big financial institutions like UBS, Deutsche Bank and Citygroup have used traditional media to request our trust and our dollars, euros and francs - by placing glossy whole-page ads in magazines, long TV advertisement spots and posters on every street and corner. Too much has happened, too much money has been squandered and too much trust has been lost for the giants who have been revived with the aid of tax money to be able, or be allowed, to spend their marketing money in the same style. All the still remaining trustworthiness would quickly evaporate if they continued to operate as before.
They can get closer to the customer and focus on their individual needs. The future lies with solid financial instruments communicated with revolutionary marketing, instead of revolutionary (and risky) products with old-fashioned communication. This would promote the longed-for renewal and communicate a new innovative strength and vitality to the outside world.
Ronni Guggenheim Ronni Guggenheim, CEO Minicom Digital Signage, is among the pioneers of the Digital Signage industry and works on its establishment on the market since its creation. Mr. Duggenheim actively participates as deputy director of OVAB Europe, the first pan-European Digital Signage/DOOH organization which sees its goal in the promotion of the Digital Signage industry and its standards and metrics. Mr. Guggenheim is largely networked on the market and promotes in his position the dialogue and cooperation between manufacturers and
In my market the notion of “Content is everything” is prevalent. For the current situation I would change it to “Timing is everything”. Right at this very moment the financial institutions, and even the financial industry as a whole, have to apply new concepts and innovative instruments in order to re-invent themselves. The Digital Signage technology and the communication concepts that are behind it have been developed and ripened at just the appropriate time. They can provide the struggling financial industry with a young, modern and innovative communication platform that openly breaks with the old-fashioned traditions.
network providers. Contact: ronni.guggenheim@minicom.com
Especially for the financial institutions the new dimensions of the Digital Signage technology provide a great instrument to manifest themselves. The Digital Signage solutions are used not for the usual advertisingfinanced platform, but rather for creating a corporate identity of the own goals and products. It is a self-financed investment to efficiently communicate the values they stand for in real-time. The banks can use Digital Signage networks to position themselves anew and so to show the market and the consumers that they’re starting off in a new direction. RELEVANCE 01/2010
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