When making any business decision, the primary concerns are always going to be the return on investment and the bottom line. This is particularly true in a current climate that is at best unpredictable and at worst on the verge of a full-blown recession.
For business owners looking for ways to increase footfall or traffic, digital signage is always going to be a potential investment. But how is digital signage going to affect the amount of money you’re actually making at the end of the day? Allow us to explain.
Going digital
A marketing report by TTV found that 78% of businesses were using digital signage in 2014 and in the last 7 years, the technology has improved substantially. It’s no longer an unrealistic expense for small businesses. Even entry-level tech can have a major impact on your bottom line as long as you take note of the following approaches.
Replacing print – All businesses, when it comes down to it, want to make as large a profit as possible while keeping their costs low. Digital signage might be a large initial investment but it’s an expense you’ll only need to make once. With print advertising, you’re going to be spending money every time you want to change your messaging or promote a new item. In this regard, most digital signage will pay for itself comfortably within the first few months of operation.
Queue management – If people can get what they want faster, they are bound to spend more money. In instances where queues are necessary, digital signage and traffic light systems can cut down perceived wait times substantially. In one study it was found that digital signage can cut perceived wait times at checkout by as much as 35%.
Grabbing customer attention – It’s undeniable that a moving image is far more absorbing than a static image. Digital signage allows businesses to use timely and relevant information to keep customers engaged and grab their attention. It will also bring in more foot traffic, particularly if you invest in content that allows consumers to interact with it.
Instant change – The ability to dynamically alter messaging is a major advantage. For example, if a store was to suddenly find itself in possession of valuable stock, it could let customers know instantly. It also allows for dynamic price changes and other speedy marketing tactics that wouldn’t be possible with old fashioned print advertising.
Amplify brand reach – Your brand is like the face your business uses to present itself to the rest of the world and a digital display is the ideal platform for that public face. Use your digital displays to reinforce your brand messaging and brand identity and you’ll soon be seeing customers flocking back time and time again.
Get seasonal – Christmas is just around the corner and the new year is just after that. That means it’s the ideal time to jump on the festive bandwagon. Digital signage allows you to do this without spending any additional capital. Just create some new messaging and throw together a few Christmas graphics and you’re all set.
The right digital signage solution for your bottom line
There are dozens of options suitable for all budgets and situations. From large scale bespoke LED installations to simple scrolling signs, there is no limit to what the screens of today can accomplish and it probably won’t cost as much as you’d think.
So, why not contact us at Spectra today and ask about how we could help your bottom line and your brand.
Image: Grand Warszawski / Shutterstock.com
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