Points to ponder for digital signage investments

While LED signs are a promising technology for many, the cost is often a restricting factor for many companies. What potential investors need to realize is that the benefits of digital signage significantly outweigh the costs.

LED screen, a media player, content creation and updating, integration and maintenance are the basic costs of a digital signage unit.

Along with the benefits of flexibility in changing and updating content on LED displays, there are many more points to be considered in identifying additional benefits of digital signage.

Consider opportunities for revenue

LED signs are ever-present in retail environments today. Due to the evolution of data analytics, more and more opportunities for increasing digital advertising revenue are presented.

By integrating web cameras into LED sign kiosks, companies can collect information about their customers and create better targeted messaging that is suited to attracting those particular customers. In addition to collecting data, measuring the effectiveness of your signage is also possible; something that static signage does not facilitate.

Other opportunities apart from the obvious one of increasing sales are: providing wayfinding information, influencing people and enhancing internal employee communication.

Benefits of consistent use

With consistent use of electronic signs, ongoing benefits are visible. When planning your strategies, it is important to keep in mind the ongoing use of this technology.

In measuring ROI, consider the sales of a particular product before and after the digital sign was introduced, the amount of repeat sales and also the transaction value level linked to the sign.

Retailers should also look at it from the perspective of labor savings. Ongoing use of interactive LED signs to answer customer queries means lesser staff are needed on the floor.

Consistent use of LED signs also means that the material costs for flyers, leaflets and printing is completely eliminated.

Content – CRUCIAL concern

This is one of the most important considerations with implementing electronic signage. Customers need to be attracted with creative content.  Images displayed should be bright and crisp, the content area should be well organized, and the motion (videos) used on the screen should be limited so to make it easy for customers to absorb. The viewing angle should be 180 degrees for customers to view the content from where they stand.

For retailers, it can be quite a challenge to find the perfect space for your digital sign. Existing spaces means your design has to be created to fit that space. Newer spaces are easier to design in terms of content.

Beginner tips

• When investing in LED signs for the first time, the hardware should be considered first. Type of connectivity needed and the scheduling software are decisions that follow next.
• Experts recommend that if possible, it is better to run your data and power cables during construction. Also have a dedicated switch for the entire network of your signage. First time users should visit digital signage exhibitions to gain more knowledge about the technology and how it works.
• There is a lot of consideration needed with regard to hardware construction, planning, software, connectivity as well as the commitment to display fresh and relevant content to satisfy shoppers at all times.
• Lay out your objectives first and have a clearly defined plan. You can then lay out the measurements and criteria for success. Once these items are defined, you can set your ROI.