Is Digital Signage worth your time, money, and effort?
There has been a massive exodus from static signage to digital signage.
From multi-billion dollar annual forecasts to double-digit compound annual growth rates (CAGRS), the digital signage industry is buzzing. Digital signage is everywhere, telling you what to eat, where to go, what to buy.
Content providers are developing media assets for large screens spread across geographies.
AV integrators continue to pour resources to specialize in this new field.
Even IT departments are pondering over the challenges brought about by this new technology.
So is this a flashy fad or a bona fide medium? What’s so special about digital signage? Why does it trump traditional media? The upfront cost, time, and effort of installing digital signage is not insignificant, so is digital signage really worth it?
The benefits below say it is:
1. Speed and specificity in internal workflows and operation/distribution
When using traditional signage, the internal workflow is slow.
For instance, a November catalog has to be at the printer by August which means the content (e.g. promotions) has to be planned/defined by June.
With digital signage, you can plan your content for November even a day before the month starts. If you have a nice raincoat in your November catalog but the year turns out to be dry, your catalog is worthless! With digital signage, you can promote summer clothing until the first day of rain, then switch to promoting umbrellas.
Digital signage has the ability of showcasing content at the right time with the right message.
2. Wait Warping
It is no secret that customers hate to wait, whether at a doctor’s office or a retail checkout line.
In fact, customer satisfaction is influenced by how long they wait.
Digital signage is effective in that it entertains and informs the customer while they are waiting for their meal, waiting for their car to be serviced, or waiting for their flight to arrive.
This effect is called wait warping where customers who are attracted/entertained while waiting will see reduced wait times by up to 35%.
As the target audience changes, the content on the display screen can be changed or updated. There is also central control of the content.
A lot less footwork is required to manage messaging campaigns. That, in fact, makes them more convenient and less time-consuming. This eliminates staff and printing errors.
Dayparting is also made easy with digital signage which allows users to highlight different content throughout the day.
4. Digital Signage is the “Silent Salesman”
With digital signage, influencing customers’ purchases will become more effortless.
The right content mix will guide the customer to certain pre-determined purchases. Digital signage creates a multisensory experience. Motion and change attract customers – not static signs.
Let’s take the real estate industry as an example. There is growing popularity of online house hunting. Installing live displays, both internal and exterior facing, that mirror the online experience will tempt buyers into the store or office.
In retail stores, digital signage acts as a virtual sales assistant. You can strategically place interactive displays that highlight a particular item, size, fit or color. They give every perceivable purchase opportunity.
Reduced printing means reduced landfill. A digital signage system is more environmentally friendly than traditional signs. This is a plus for the increasingly green-aware customer.
Is digital signage worth it?
Digital beats static, hands down.
Consequently, companies succeed when they engage customers in the digital realm. Digital signage stands-out by delivering dynamic graphics and interactivity that draws in and keeps customers.
In fact, research conducted by OTX, a global consumer research and consulting firm, shows that 63% of adults find that advertising on digital signage “catches their attention.” This confirms the stopping power of digital signage, as people consider this media to be more unique and entertaining, and less annoying than both traditional and online media.
Editors note: We have compiled a list of 19 digital signage benefits to prove its ROO and ROI in almost every business. See the list of benefits here.