The concept of digital signage is still new in the advertising landscape. For years, businesses have relied on print media to get their message across (television and radio notwithstanding). While this strategy is effective, its limited nature prevents businesses from unlocking the full potential and return on investment of their advertising campaigns.
Now, we know what you’re thinking: “Digital signage is too expensive to replace printed ads. What’s the point?”
While a common mindset for those new to digital signage, this group is comparing the cost of installing the network with the cost of printing ads once. It only takes into account perceived costs and not the long-term benefits. With that in mind, let’s take a look at some of the ways that digital signage can help a business put its best foot forward and entice consumers into choosing a brand.
It’s in our nature to judge things on their appearance. First impressions are powerful and play a large role in our overall perception of an idea. The concept of “putting your best foot forward” is significant in the business world—customers have plenty of purchasing options these days, and a good first impression is critical for success. In business terms, the first impression that customers receive is usually through advertising and signage that sends a message about the quality of work performed by a business.
Digital signage excels at grabbing the attention of a target audience and making this impression count. The Chamber of Commerce reported that even a single sign outside your business can increase sales by as much as 30%. But just having signage isn’t enough. The quality of the advertising plays a part as well. A 2012 FedEx Office survey found that 76% of American consumers are willing to enter a new store based only on the effectiveness and appeal of the store’s signs. 68% of those surveyed admitted to making a purchase because a sign caught their attention.
The reverse can also be true—poorly made signs can do more harm than good. In a world where our smartphones are seductively whispering our names every minute, causing us to ignore the physical world, fickle shoppers require an experience that’s interesting and memorable enough to pull us away from our magical devices. In this world, signage is evolving to entice consumers and build confidence in a brand; nothing turns off consumers faster than amateurish advertising that puts a brand’s credibility into question.
Given that signage can backfire just as easily as it can be productive, it’s important to recognize why digital signage is the most effective way to communicate a message.
Most businesses these days utilize some form of digital signage to increase the visual appeal and cost-efficiency of their marketing techniques. However, there are start-up costs that may be discouraging for small businesses that prioritize staying lean.
This is the wrong mindset to have, though. Instead of asking “how much will this strategy cost me?” savvy business owners will ask “what is the opportunity cost of NOT implementing this strategy?”
Smart business owners prioritize potential opportunities over perceived costs.
To get a better idea of what business elements are lost from a lack of digital signage, let’s examine some efficiencies brought about by the process in our whitepaper below.