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Savvy marketers and business owners are always on the lookout for marketing strategies that will help them stand out from a sea of competitors.
As it turns out, they don’t have to look that far. They need simply look around them.
What is Digital Signage?
Digital signage is all around us: on the streets and in shops, restaurants, stadiums, hotels, hospitals, airports & even in the classrooms of our learning institutions. Digital signs are a staple in many a marketer’s strategy and for good reason.
LCD, LED, ePaper and projection are technologies often found in digital signage systems. A digital sign can display text, images, video clips and even live internet feeds. What a digital sign is used for varies from business to business—and which types of businesses use them varies just as much.
Some businesses employ a digital sign to meet a purely functional need such as to direct people on how to navigate a space or provide updates on their brand or product. Other businesses use digital signage to increase customer attraction and engagement through visual & audio storytelling.
Additional uses of digital signage include:
- Internal communication
- Public announcements
- Promotional activities
- Reducing wait time
- Influencing customer behavior
- And more
While this is all quite impressive, is the cost of installing a digital sign worth it? Let’s find out.
Why is it a Wise Investment?
There are many reasons why so many people turn to digital signage. We’re about to unpack just four of the biggest reasons. And we know that when it comes to business, numbers do the talking so we’ve made sure to include some impressive statistics.
Digital Signage is Cost Effective
Digital signs are a fantastic way to attract customers without breaking the bank. To pay off the original investment, business owners can choose to sell advertising space on their installed digital signage system to their partners or neighbouring establishments.
On top of this, installing a digital sign means you’ll spend less money on other, more traditional, marketing campaigns as well as reduce your printing costs and paper wastage. This in turn reduces your environmental footprint significantly.
2. Digital Signage Increases Impulse Purchase Sales
Statistics show that digital signage increases impulse purchase sales in many different ways. 19% of people who view retail promotions via digital signs make unplanned purchases while a staggering 80% of restaurant patrons report purchasing meals without even meaning to.
Brands are aware of these statistics and are cashing in on the digital signage trend. Companies that have placed a lone digital sign on their premise, report an average increase in annual sales revenue of 4.75%. Four out of five brands notice sales increases of up to 33% after incorporating digital signage into their marketing strategies.
3. Digital Signage Enhances Brand Awareness
It’s no secret that people of today are visual learners and, as it turns out, they’re also visual shoppers. Lively digital signage attracts up to 400% more views than what static signs do, which means that your brand is more likely to be noticed by potential customers.
Visual signage has been proven to increase brand awareness by 47.7%, which as we’re sure many business owners will agree on, is a pretty huge percentage. Brand awareness can help your company remain at the top of your customer’s mind, increase market share, build brand loyalty and act as an unintended lead generation tool.
4. Digital Signage Improves the Customer Experience
Who wouldn’t want to see satisfied customers with smiles on their faces and farewells laden with the promise of spreading the word about their awesome experience? For example, customers despise being kept waiting and when it comes to digital signage, wait time is reduced by as much as 35% which is much appreciated.
Digital signs can also prevent customers from feeling lost by displaying handy wayfinding information. In a fast-food restaurant environment busy people can maximise their time by reading menus displayed on a digital sign; by the time they get to the pay point they know exactly what they’d like to order.
As the world becomes more digitally focused, business owners must adapt so that they don’t get left behind. So, to answer the question of: is digital signage worth it? The answer is a resounding yes.
Just one question remains: will you be incorporating digital signage into your marketing strategy? Let us know in the comments section down below.