Digital signage outperforms print signage by enabling you to utilise a single signage location to schedule multiple promotional messages. This can be used to directly increase you company product sales, or indirectly generate revenue through the sale of advertising space.
In the end, digital signage is all about the opportunity to let your customers see what they need to see at a specific place and at a precise moment. Displaying the right content mix will absolutely result in more sales. For example, by using digital signage to show your breakfast in the morning, lunch in the afternoon and dinner at night, digital signs add value by letting you use your most valuable space as efficiently as possible.
As digital signs are often put in the best possible store locations, store signage managers can be reluctant to let certain ads run. As it’s inexpensive to update content on a well-designed digital signage network, you have the ability to go beyond these “safe” advertisements and try to push items that have great potential, but don’t yet warrant the prime poster space. When you have a digital network, you don’t simply run a nation-wide promotion like you might with print. Digital signage enables you to run your nation-wide campaigns alongside targeted local promotions to aid the sales of lesser or supporting product ranges. By effectively using past data about the kinds of shoppers in your stores, you can even change promotions on specific months, weeks or even times of day.
- 80% of brands experienced a significant increase of up to 33% in additional sales through the use of digital signage.
For example, In a Fast-Food restaurant with hungry customers waiting to be served, the best thing you can do is to make everything look appetising. Maybe, you’ve got a new offering that no one knows what it looks like and therefore won’t try it. Here you have the opportunity now to reinforce the message by giving them a look. Don’t forget those potential customers passing-by outside though! Well placed window screens showcasing mouth-watering promotions can literally grab the eyeballs of those passer-by on the streets.
Another profitable revenue stream is to monetising your prime screen locations by cross selling advertising slots for products that appeal to the same customer demographic. For example a Golf shop may cross sell ad space for a luxury car manufacturer because they know that their customers who are buying expensive golf clubs will also be interested in luxury cars.
If you choose to explore this revenue option then you will have to estimate the value of the ads being shown, typically by calculating the impressions that each screen will receive in each store. Through digital signage you’ll have the ability to run several ads on the same piece of real estate. While the opportunity to see each piece of content may be lower, the ability to put multiple items in the same high-value location is very compelling for advertisers, so the real value of each spot remains pretty high.
Quote: On the 1st of April 2016 WHSmith announced its plans to roll out new digital display screens in the windows of 100 of its stores across the UK. Ian Sanders, group commercial development director at WHSmith, explained: “The outdoor advertising industry has accepted digital display advertising as the way forward and retailers on the high street are now realising their real estate is also the perfect platform for digital out of home marketing. WHSmith is proud to become the first high street convenience store to make this transition, and the screens will give our stores both advertising and communication standout, whilst monetising our windows with complete compliance and control.”
Across this series of blogs we are exploring the benefits and advantages of moving from printed posters to digital screens. You can read our other blogs related to this series by clicking on the links below:
4. Sales & Advertising - Will digital signage make you more profitable?