In the last decade, digital signage has comfortably superseded conventional signage as the preferred method of advertising and communication for businesses. Indeed, it’s a market that looks set to be worth around £30 billion by 2023. But as powerful a tool as it can be, without an understanding of how it works, what it has to offer and how to get the most out of it, you might as well have stuck to the print ads.
A digital signage strategy can only be perfected when you’re able to measure how well it’s performing. And when it comes to measuring digital signage ROI (return on investment) and ROO (return on objective) there are several methods you can use.
Are they watching?
Are people actually seeing your messaging? Of course, logging individual screen time isn’t as easy for a digital sign as it would be for a website unless you are able to invest in expensive video recognition software that tracks customer engagement. But there are more affordable methods you can use that are perhaps more telling than a graph, chart or PowerPoint.
See whether or not the digital signage message is getting through by creating a unique web address that is only displayed on the sign itself. This site can then be tracked via Google Analytics so you know somebody has seen and responded to your content. Or you could utilise smartphone technology by encouraging your audience to scan a QR code.
If the content being displayed on the sign was intended to draw attention to a specific event or product, meanwhile, the success of that endeavour will give you a good idea of the effectiveness of your signage. Consider including bespoke discount codes and you’ll gain an even deeper insight into how well your signage is performing.
What’s the message?
Attention spans have never been shorter so your message needs to be able to adapt. Keeping the same content on your signage for weeks on end will always offer diminishing returns and the message will eventually become little more than background noise.
Plan your messages several weeks in advance and swap them out regularly then use the tactics above to measure which messages are offering the best results at certain times and locations. Because timing and context mean a great deal when it comes to advertising these days.
Pay close attention to where you’re positioning your digital signage. For retail stores, the checkout area is always handy if you want to remind customers to follow you on social media or sign up for a loyalty scheme, for example.
Is it paying for itself?
Ultimately, your digital signage is trying to encourage your audience or potential audience to “do something.” Whether that’s to buy a particular product or attend a particular event is irrelevant.
First, set your goals. That could be a sales target or a certain number of attendees, for example. This should be a goal that effectively pays for the cost of the digital signage – the total installed cost (TIC). If the increase in revenue made by achieving your goals exceeds that of the TIIC then the digital signage campaign has been a success.
Of course, this is going to depend not only on the ambition of your goals but on the value of the hardware. Thankfully, there are dozens of digital signage options available for all business sizes and budgets. From massive LED video walls to digital window displays and information screens, whatever your strategy, Spectra Displays has you covered.
Image: Zapp2Photo / Shutterstock.com
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