By Rebecca Dowden
Digital signage has become the future of retail signage. Big name brands everywhere have begun using digital signage in stores nationwide to display information such as promotional material, product pricing and videos. But for the dozens of uses digital signage has, most retailers are still wondering: is digital signage worth the cost?
The best way for marketers and merchandisers to approach this question is to not think of the cost of installing digital signage; rather they should first consider the cost of not upgrading to digital. Digital signage is rapidly becoming the market standard and soon consumers will expect retailers to stay on-pace with digital display technology. Second, retailers should consider the wide range of benefits digital signage offers to all stakeholders. Digital signage positively affects marketers, consumers, the company’s bottom line and even society as a whole.
Societal Benefits
Imagine never needing to print posters, window displays, and promotional signage ever again. With digital signage, you won’t have to. Digital signage is an environmentally friendly solution that reduces retailer’s waste and visibly shows to consumers their dedication to being green. Marketers also know that in retail, customers always know best. In this case, customers know that companies striving to reduce their carbon footprint are more appealing than those who don’t. Digital signage is a strong declaration of embracing technology that saves the earth.
Marketing Benefits
The benefits of digital signage to retailers’ marketing teams are almost endless. Digital signage provides an outlet for changing promotional material and displays instantly and quickly. With digital signage solutions using cloud technology, marketers can control all their store’s screens from one dashboard. No more time will be wasted sending flash drives and posters to print to stores.
Digital signage is also a marketing-conversion dream. 68 percent of consumers say they purchased a product because a sign caught their eye. With digital signage, creating eye-catching ads is easier with the use of motion graphics and video. With this technology, marketers can make window displays that generate more foot traffic and use in-store screens to drive more sales.
Marketers also know the importance of creating a positive brand image and in-store experience. Customers crave experiences that incorporate technology and digital signage is the perfect tool to meet these demands. Digital signage can be used to not only display promotional material, but also display engaging social feeds such as Instagram hashtags. Customers will not only be more likely to notice digital signs, but they’ll also be more likely to engage with and remember them.
Consumer Benefits
With digital signage, retailers can create a multi-channel experience that provides in-store shoppers with both online and offline benefits. Digital signs can include barcode scanners that allow customers to pick up a product, scan it, and instantly read information about the product online. Digital screens can also be used to display positive reviews from other customers who have already purchased or tried a product.
Digital signage can also make shopping more fun for consumers. 60 percent of consumers view in-store shopping as a form of entertainment and therefore, expect brands to make their shopping experience fun. Digital screens can be used to display trends and how-to videos to not only show how the product works, but also to get consumers excited about the product. For example, a static poster showing a celebrity wearing the latest trends from Retail Store A may give the brand some credibility, but a video showing a celebrity walking around and talking about the latest trends from Retail Store B would be more engaging, fun, and likely to convert shoppers to buyers.
Financial Benefits
Finally, the last but certainly not least benefit digital signage provides is financial. Digital signs have been proven to drive more in-store sales. But the benefits don’t stop in-store, digital signage has been shown to increase overall sales volume by 31.8 percent. The investment in digital signage also has long-term financial benefits such as employees’ saved time and increased brand value.
Overall, the retail industry is rapidly changing, as technology is adapted. With consumers raising in-store expectations, retailers can benefit greatly from implementing digital signage. Digital signage reduces waste; saves employees time and can increase brand value and sales. With all the benefits digital signage brings, retailers should be asking themselves the cost of not using it in their stores.
