Digital display: finding payback: digital will dazzle your lobby customers and probably boost cross-sales, but can you justify the upfront costs in terms of ROI? We asked four banks to explain the concrete benefits they have achieved through with digital signage.

• Author: Albro, Walt
• Position: Cover story

IT'S A NO-BRAINER: Digital display is a powerful new platform for merchandising the bank's products and services.

So why are so many financial institutions still hemming and hawing over the digital decision? The answer may be that the upfront investment in hardware and software is typically hefty. And with today's tight budgets, marketers want hard evidence of the actual marketing return on investment before trying to sell the idea to their managers.

Does digital pay off? Is it worth the investment?

ABA Bank Marketing magazine talked to four banks of varying asset size that had achieved some kind of success with a digital installation. We asked each institution how the investment had panned out. Their stories follow below.

Digital Reduced the Volume of Printing--Thus Saving Money

Institution: The Bank of Missouri, Perryville, Mo.

Asset size: $840 million; 13 branches

Vendor: Zero-in Media, New York. Software: Scala, Philadelphia

Digital signage networks reduced the bank's print production costs by $3,500 in the nine months after it adopted the technology in June 2010. "Of course, there are upfront costs associated with implementing a digital signage network, but in the long run, we are saving money," says Jean Clemmons, marketing director.

In the past, the bank sometimes had short-term promotions lasting only a month or two. For each promotion, the bank incurred the cost of replacing expensive glossy posters and printed materials. "That is no longer an issue," Clements says.

Another major benefit of the system was the greater control it gave over use of the bank's brand in promotions--in other words, making sure that every branch followed marketing directives in a timely fashion.

Years ago, the bank sometimes struggled with maintaining brand consistency, Clements notes. "Any time we wanted to put up new posters or promote something new, we would send e-mails to the branches, but when we made follow-up visits, we found dated materials or promotions missing. Digital signage has eliminated this problem. We've regained control over the marketing promotions both at our main branch and across all other linked-in branches."

Clements cites several other ways that the digital signs have benefitted the bank.

The first is that it has increased marketing effectiveness as a result of more timely, targeted messages. With digital signage networks, content can be controlled from a central location and distributed in unlimited ways. For example, banks with networks powered by content management software can distribute the same content to all of their digital screens throughout the network or target content branch by branch--even screen by screen. All content can be changed in minutes to reflect new rates, new promotions and new corporate priorities.

"We love that we can even set expiration dates to avoid displaying outdated materials," says Clements.

Second, the system helps the bank to cross-sell new and existing products and services.

Digital signage is a way to not only promote new checking accounts but to also consistently supplement those types of common product promotions with information about lesser-known products.

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"Tellers do not usually have the time and don't always remember to mention other products when working with customers," says Kristin Klaus, senior marketing director. "And even if they do, once again, we lose control over what is being promoted and how it is being promoted. Digital signage allows us to dictate when, where, what and how...