Digital signage, you’re starting to see it everywhere, from fast food restaurant chains to your favorite local coffee shop. As a business owner, it can be difficult to decide if digital signage is right for you, or if it’s worth the expense. The good news is that with many of the modern developments in technology, digital signage is incredibly cost effective. But that still leaves the question, is having digital signage worth it?
Current studies are showing that it resoundingly is. Here are a few facts that should help you make up your mind.
Digital Signs Are Boosting Sales
In early 2016 the UK based burger chain Prime Burger joined forces with Eclipse Digital Media to roll out digital signs and menu boards in several of their stores. The result was a 50 percent increase in sales to all the stores that had converted to digital signage. Sam Steele, the director of Prime Burger, said customers are actually drawn in by the imagery and sales have increased.
Digital Signs Are Saving Money In The Long Term
While there are up-front costs involved with digital signage, the initial investment will have a greater ROI over time. There are maintenance costs involved with digital signage, but the costs are extremely minimal when compared to standard print advertising. Physical displays, banners and menus involve numerous costs such as printing and installation. Add to this the fact that any time there is a sale or the prices change new displays will need to be printed making the older ones obsolete. Print media is an ongoing cycle with recurring costs, while digital signage can be comparatively pay for itself over time.
Digital Signs Maintain Interest
A study comparing digital signs to static signs at multiple locations found a huge divide in the amount of interest they were able to gather.
When analyzing the static signs they found that interest on the first day was high, but dropped off dramatically as the days went by. In contrast, the digital signs held as many peoples interest every single day as the static signs did on the first day.
Your Competition Is Already Using Them
The digital signage market is predicted to grow at an 8.94% compound annual growth rate between now and 2020. If your business doesn’t have digital signage then you’re missing out, because your competition probably already does.
Digital Signs Are Great For Marketing Specific Items
In one study, items were put on sale and advertised with digital signs in some areas, and advertised with static signs in other areas. The locations that utilized digital signs saw a 49% increase in sales on the items that were advertised, while the locations that used static signs only saw a 15% percent increase.
That means digital signs are 34% more effective at advertising than the traditional static signs.
From increasing brand recognition to pushing sales, digital signage is without question a necessity in the world of business today. It’s time to put those old static signs away and invest in the future of your business.