ROI: Is Digital Signage Worth It?

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Business owners face a constant dilemma when considering investing in advertising infrastructure to propel their business forward; is this really going to take my business to the next level? Will it deliver a decent return on investment? And the doubt is justifiable – with so many initiatives claiming to do both of these, how do you separate the truth-tellers from the snake oil salesmen?

Digital billboards are one such initiative, claiming to attract window shoppers, boost foot traffic, share product information, upsell on existing offers and more… all while telling your brand’s story. Luckily the statistics back up its effectiveness, with a study reporting that 68 percent of customers claim that digital signage would make them more likely to purchase advertised products[1].

This fact is made more cogent when additional statistics are taken into account – with 44 percent stating digital signage would influence them to purchase advertised products instead of a product they already planned to purchase. Additionally, when Nielsen tracked 120 grocers who used digital signage in their store, they found 80 percent of participants saw a 33 percent increase in sales, compared to traditional printed signs[2].

With all these statistics in mind, implementing digital signage seems like an obvious move in the right direction. But, as with anything, results will vary from business to business. The only way for a business to know is to try it for themselves, ideally using a low-risk, cost-effective method such as AirDroid Businesses’ Kiosk Mode.

Once implemented, the best way to measure its effectiveness is to calculate the return on investment, or ROI. This is subjective to the business type – and business owners should ask themselves before implementing a digital signage strategy what they want to achieve: is it an increase in sales? Or perhaps an increase in engagement?

For sales-based ROI, it’s simple. Business owners can view their sales figures before implementing the digital signage, as opposed to after. If there is a considerable, sustained increase in sales after implementing digital signage, it can safely be assumed that digital signage has led to an increase in sales, effectively delivering on the investment.

The best way to measure ROI in terms of engagement is simply to ask your customers. While it can be a costly exercise to dedicate a staff member to quizzing customers about their in-store experience, there are alternatives, such as using a kiosk, strategically positioned by the exit of the store asking customers about their experience.

For more information on how AirDroid Businesses’ Kiosk Mode can help you implement your digital signage at a fraction of the cost, click here. To sign up for a 14-day free trial, or for more information, please visit www.airdroid.com/business

[1] https://us.moodmedia.com/sight/data-behind-digital-signage

[2] https://www.nielsen.com/us/en/press-releases/2014/nielsen-global-consumers-highlight-opportunities-for-retailers-brand-marketers-and-service-providers-to-better-meet-needs-of-aging-consumers/

 

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