Interactive Customer Experience (ICX) Summit

SLD chief shares digital signage strategies for banks, retail

The Digital Signage Today podcast has marked its first live episode at the ICX Summit, featuring a live onstage interview with J.P. Lacroix, president at SLD a strategic design agency based in Toronto and Shanghai.

Image: Networld Media Group

October 18, 2024 by Daniel Brown — Editor, Networld Media Group

The Digital Signage Today podcast has marked its first live episode, which was recorded onstage at this year's Interactive Customer Experience Summit.

The summit was hosted by Networld Media Group in Charlotte, North Carolina and was co-located with the Bank Customer Experience Summit.

In the onstage discussion, Daniel Brown, editor of Digital Signage Today, interviewed Jean-Pierre Lacroix, president and chief strategy officer at SLD, a strategic design agency based in Toronto and Shanghai.

Lacroix shared insights from more than three decades of experience in the evolving world of banking and retail digital signage. He offered a range of insights on how companies can use digital signage to create stronger connections with consumers and the challenges businesses face in fully implementing these technologies.

Understanding the 'blink factor'

One of the key takeaways from the discussion was Lacroix's concept of the "Blink Factor," which has been a guiding principle for his company for over 35 years. As Lacroix explained, this idea originated from early work with Pizza Hut.

"We were the inventors of the Pizza Hut Café concept," Lacroix said, noting consumers often referred to the iconic chain as the 'red roof' because of its visual presence. Through research, he said, SLD discovered "40% of all communication is visual, and 80% of that is based on color and shape." The Blink Factor, therefore, became a way to connect consumers with brands emotionally through visual cues, helping them make instant brand associations.

Lacroix emphasized the importance of this visual branding in today's digital landscape, where consumers are bombarded with messages. He pointed out brands need to create a seamless and emotional connection with their customers, particularly in physical stores where technology can be used to enhance that experience.

The ROI of digital signage

Another central theme of the conversation was the return on investment of digital signage, something Lacroix believes many businesses don't fully monitor.

"Digital signage is effective in driving sales," he said, but lamented "most retailers and banks don't track its effectiveness."

This lack of measurement can lead to doubts about the value of investing in digital signage, especially when its impact is not immediately apparent.

To counter this, Lacroix and his team conducted a study to provide fact-based evidence for their clients. The study interviewed 1,500 consumers and 300 bankers to understand how digital signage influences behavior. One of the key findings was that customers tend to notice content most when they are seated, such as when waiting in a bank lobby.

"Wherever a consumer was sitting or waiting had the highest content readership," Lacroix said. In contrast, customers standing in line were often preoccupied with their mobile devices and paid little attention to digital signage.

Overcoming challenges in digital signage implementation

Despite the proven effectiveness of digital signage, Lacroix acknowledged many businesses face significant challenges in implementation, particularly in North America.

"A lot of it is a 'me too' strategy," he said, explaining companies often invest in digital signage simply because competitors do. However, without a clear content strategy or proper integration into the overall customer experience, digital signage can become an underutilized tool.

Lacroix advised businesses to shift their perspective on digital signage, treating it not just as a visual element but as a crucial communication channel.

"It's a marketing channel," he said, "not just signing for the sake of signing." By incorporating digital signage into their omnichannel strategies, businesses can create a more seamless experience that integrates online, mobile, and in-store interactions.

The future of digital signage

Looking to the future, Lacroix predicted digital signage would evolve significantly over the next decade, becoming more immersive and integrated into wearable technology such as smart glasses and watches.

He also shared his belief that the key to this evolution lies in accelerating the adoption of digital signage across networks of stores.

"If you've got 1,000 stores, it's going to take you 10 to 15 years to implement digital signage fully," Lacroix said, urging retailers and banks to move more quickly in adopting these technologies.

In particular, he highlighted the importance of content strategy. Businesses must carefully curate the messages displayed on their digital signs, taking into account factors like demographics and the time of day.

He shared an example from his work with one of the largest banks in North America, where eye-tracking cameras and infrared scanners were used to measure the effectiveness of digital signage.

"People notice content that is presented by people," Lacroix said, reinforcing the idea that human-centered visuals tend to engage consumers more effectively than static or abstract imagery.

Global trends and innovations

While North American businesses have been slower to adopt advanced digital signage strategies, Lacroix pointed to regions like China as leaders.

"They truly believe in the power of digital," he said, noting innovations like virtual concierges and large-scale digital displays are already being used to create immersive customer experiences. Lacroix suggested North American businesses could learn a lot from these global examples, particularly when it comes to integrating digital signage into the broader customer journey.

One of the most exciting trends Lacroix mentioned was the use of AI and facial recognition technology in retail settings. While regulatory issues in North America have slowed the adoption of these technologies, Lacroix believes they represent the future of seamless, frictionless transactions.

"Your face is your credit card," he said, describing how consumers in China can make purchases at vending machines simply by having their face scanned and linked to their bank account.

Closing thoughts

As digital signage continues to evolve, Lacroix emphasized businesses must remain focused on creating emotional connections with their customers. Whether through advanced technologies like AI and facial recognition or simple, human-centered content strategies, the goal is to make every customer interaction memorable and meaningful.

"Brands that are emotionally connected to their customers have a higher loyalty factor," he said, predicting the future of retail will be defined by businesses' ability to understand and engage with their customers on a deeper, emotional level.

In conclusion, digital signage is far more than just a tool for displaying advertisements. When implemented strategically, it can become a powerful channel for building customer loyalty and enhancing the overall brand experience.

Above all, Lacroix said, "It's about being seamless."

About Daniel Brown

---

Daniel Brown is the editor of Digital Signage Today, a contributing editor for Automation & Self-Service, and an accomplished writer and multimedia content producer with extensive experience covering technology and business. His work has appeared in a range of business and technology publications, including interviews with eminent business leaders, inventors and technologists. He has written extensively on AI and the integration of technology and business strategy with empathy and the human touch. Brown is the author of two novels and a podcaster. His previous experience includes IT work at an Ivy League research institution, education and business consulting, and retail sales and management.