Optimizing the ROI of Your Digital Signage

Digital signage promises significant gains compared to older forms of display technology. This advantage often comes with a high program start-up cost, leaving many retailers wondering how to recoup these costs as quickly and effectively as possible.

Like any new technology, digital signage will require an adaptation curve as your business learns how to fit it within the larger marketing strategy. Yet, there are several good “rules of thumb” to consider in order to get the most out of your digital signage program. These guidelines can generally increase effectiveness and eventual return when implemented correctly.

Don’t Overspend

The first key to ensuring a profitable ROI for your digital signage campaign is to not sink excessive costs into the program to begin with. Since digital signage is an emerging market, hardware vendors will often sell products based on tremendous hype. While these products may indeed be “the latest and greatest,” they may not be the best or only choice for your brand.

Fit-for-purpose signage is an approach that more brands need to take as adoption of digital signage becomes more widespread. Buying a product that works only for one specific need rather than being concerned about overall versatility is a good practice for ensuring profitability.

For instance, many signs promise incredibly extended lifespans. The question the brand must ask themselves is, “Do we need the full length of this product’s service life?”

Usually, the answer is “no.” Digital signage is rapidly advancing, meaning the display’s resolution, processing power or even overall framework may be dated or inconvenient in just a few short years. Avoid getting sucked in by assuming a long-term investment and only buy signage that will work for the duration you need it to.

Other examples of costs to avoid include:

●Buying overly-bright signs for indoor display

●Worrying about multiple inputs when all you needed was one

●Buying metal chassis signs for areas that will not see tampering or heavy wear

Keep Content Fresh

A huge strength of digital signage comes from its ability to stay dynamic. Customers take more notice of a sign that is changing or reacting in unexpected ways.

Allowing them to see the exact same content day after day handicaps this advantage. Make sure your content is being regularly updated or rotated in order to maintain the fascination digital signs can elicit. Whether it is the latest product promotion or just a weather update, having interesting and new content can keep customers’ attention and ensure that they absorb more of the intended message.

Japanese banking company Toyota Financial Services solved their content creation problem by installing a kiosk that records consumer responses. Customers were asked to share their views on family finances, and the best responses were incorporated into a media wall located nearby. Strategies like this get customers involved and provides a fresh stream of user-generated content.

Maintain Relevance

Content should not only be fresh, but also highly relevant to customer interests. Analytics can give insight into product promotions or ads that generate the best response from customers. Brands who monitor their market diligently can always get hints on which types of display content will be the most relevant.

Preserving relevance also means not having a ubiquitous ad campaign strewn across multiple chain locations. Allow your regional or store managers the freedom to determine which types of content will appeal the most to their particular demographics. Personal insights mixed with objective metrics can narrow down the decision for which types of display resonate the best with certain crowds.

Relevance has to do with sign placement, as well. Finding the optimal location for your digital signage involves considering when the customer may be most receptive to your branded message.

The best location is not always the most obvious, either. Automatically assuming customers should be bombarded as they enter the store is not appropriate in all cases. Envirosell founder Paco Underhill noticed that some banks had better responses from digital signage being visible only on the way out. “We have recognized customers are actually more receptive to messages after they have accomplished their mission at the branch. One of the classic issues with marketing messages is to recognize that the journey from the back of the branch to the front is often one of the most important places to communicate.”

Linking Signage with a User-Friendly Content Management System

 When trying to maintain fresh, relevant content, many brands fall short not because they are inept, but because the content management and delivery system linked to the signage is frustrating or hard to use. Purchasing a simple-to-use and well-made content delivery platform can make managing sign displays as simple as a few clicks.

Digital Social Retail’s convergence platform allows users from anywhere to monitor, manage and analyze sign usage with cloud-based technology. Creating a content queue or making adjustments can be done quickly, without needing an IT expert to look over your shoulder. Visit our product page to learn more about how our platform can help you harness the incredible capabilities of digital signage campaigns.

Start your Social Retail campaign today!

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