You have been growing your business and know that you need technology to spread your message. So what do you do? Today the world is moving ahead at a fast pace with customers' eyes glued to tvs, pc's, smartphones and tablets. The world and your customers are used to looking to screens for information. So what technology can spread your message, build your brand, improve customer service and experience and increase your profits? The answer is digital signage. It is a natural choice for gaining customer attention and aiding content retention. But can we prove it?
By incorporating digital signage into your business not only will you see a ROI but also and possibly more importantly you will see a Return on your Objectives (ROO). Below is proof that the long-term rewards are worth the up-front costs.
How do you find the ROI?
Technology is an investment and so it is important to look at ROI from a longer term point of view. Yes, in the near term the cost of investing in digital signage will outweigh the cost of printing posters or adding additional staff but digital signage gives you the capabilities to update your screens with real-time information instantly whether it is a single screen in a certain location or the entire network, compared to the cost of trying to do that with printed signs or people, the ROI becomes apparent and processes become more efficient.
Technology requires a forward thinking business mentality. By investing in technology now, not only will you save time, increase profits and customer experience and loyalty, you are future proofing your business and making it adaptable to whatever changes the economy, customers, the environment, legislation and all the various influences the world can throw at it.
Define your objectives
Digital signage has many functions which makes it a hard working tool within your business that both directly and indirectly affects your revenue. Thus your objectives for digital signage may vary throughout your business. Some digital signs and content are for employees and some are for customers, either way both help create a stimulating environment, engaging customers and staff alike and impacting their short and long-term behaviour. This objective helps you define what you will see as a good return on your investment, is it increased sales or increased efficiency of staff or both? Although digital signs that are for example used for wayfinding may on the surface seem unable to directly affect your revenue however by opening up that time for your staff they can focus on revenue generating activities rather than wayfinding. It is this indirect return on investment that is taken into account through the creation of your objectives. By knowing what you wish to achieve with digital signage, you can measure it’s performance against those objectives, your ROO.
Various studies have been conducted on the effect of digital signage on sales, but we have put some of the most interesting parts of the research into an easy to read infographic which proves why digital signage is a worthwhile investment which will not only pay for itself within a few, short months but will also make more money for your business. Below is an example of the Return on Objectives of digital screens according to a study conducted by Arbitron (A US consumer research company).
Analyse your costs
Consider your upfront investment plus the ongoing costs of digital signage then compare that to a purchase increase of 29% (this is the average overall increase in sales from digital signage, according to DataTrend.com). Additionally the benefits of using digital signage to inform and assist your employees, is more than you realize. The McKinsey Global Institute stated that you can improve the productivity of your organisation by 20-25% and this increases your revenue.
Can you afford not to use digital signage?
As you can see, digital signage definitely has some great advantages ranging from saved costs over time (compared to print), increased brand awareness, employee efficiency and increased profit to name a few. The ROO and ROI is in all the added benefits as well as the profit increase your business will see, most companies are able to recoup their digital signage investment in just a matter of months.
You have built and grown your retail environment, your innovative, forward thinking entrepreneurial spirit is leading you to embrace digital in your store. Let us support you in this digital journey, chat to us on +2711 350 6111 or
LEGAL DISCLAIMER: This Message Board accepts no liability of legal consequences that arise from the Message Boards (e.g. defamation, slander, or other such crimes). All posted messages are the sole property of their respective authors. The maintainer does retain the right to remove any message posts for whatever reasons. People that post messages to this forum are not to libel/slander nor in any other way depict a company, entity, individual(s), or service in a false light; should they do so, the legal consequences are theirs alone. Bizcommunity.com will disclose authors' IP addresses to authorities if compelled to do so by a court of law.