Studies show that one in three customers make an unplanned purchase after seeing a product displayed on a dynamic digital sign. Since digital signage can attract up to ten times more eye contact than traditional signs, it’s the perfect tool for the entertainment industry to not only improve the overall customer experience but generate revenue and optimize return-on-investment (ROI).
With its ability to elevate the customer experience, digital signs can strategically influence customer behavior and drive short and long-term actions can lead to significant ROI. Entertainment venues can leverage digital signage to generate ROI by tapping into its essential elements to create value. In doing so, recovering capital investments by achieving key objectives and producing revenue is made possible.
From using digital signage as an advertising and promotional tool to leveraging digital menu boards to highlight product specials, here are a few ways digital signage can be used to generate ROI in entertainment venues.
Advertising and Promotions
Digital signage displays are transforming the world of advertising and promotions. Unlike billboards and traditional media ads, digital signage goes beyond brand awareness and advertising, making it the perfect tool to drive revenue and increase ROI. Since signage tends to be more focused on the customer experience than traditional advertising is, messaging can be changed to match different audiences.
Here are a few other ways digital signage ROI can be achieved via advertising and promotions solutions:
- Targeted advertising that caters to various customer personas
- Having the ability to update ads quickly and accurately
- Being able to reliably manage ads remotely
- Renting ad space to partners and local companies or businesses
Digital signage displays deliver a highly engaging customer experience through its stunning, high-definition presentations. This experience can help reinforce brand perception and identity, allowing entertainment venues to increase digital signage ROI through dynamic advertising that can be changed any time throughout the day to cater to various market segments.
Digital signage displays are transforming the way people order and consume food. Menu boards equipped with the latest technology can not only help save on menu update costs but can also provide a more personal touch in menu customization. Equipped with the latest technology, Four Winds Interactive (FWI) digital menu boards can help upsell products.
- Besides this, digital signage ROI via menu boards is also made possible through:
- Making daily menu board updates to highlight product specials
- Displaying product upgrade options
- Decreasing customers' perceived wait time with infotainment
- Collecting analytics to continuously improve the customer experience
Additionally, digital signage technology can be used behind-the-scenes to keep track of inventory and sales. By integrating your PoS system with our digital menu board solution, you can even dynamically display menu content tailored to each of your location’s sales trends.
Statistics have consistently validated the correlation between productivity and digital signage ROI. Beyond ads, customer experience and support, digital signage displays can improve operational efficiency.
Many businesses are finding that digital signage can have an impact on sales, enhancing employee engagement and improving overall ROI. The following are just a few of the ways digital signage can improve efficiencies in the workplace:
- Having access to a single platform that can manage all digital signage applications
- Offloading staff from repetitive questions and requests for assistance
- Promoting customer self-service
- Utilizing signage for workforce management
- Showing real-time updates and announcements to employees
- Regularly tracking KPIs
- Reinforcing health and safety in the facility
There are various ways to generate digital signage ROI in the entertainment space. However, your capability to gather, measure and interpret data is what matters. As a tip, you can measure digital signage ROI by looking at the below, among other key digital signage KPIs:
- Dwell time
- Conversion rates
- Screen touches
- Viewer analytics
- Site visits and sign-ups
- Engagement and feedback
With these tools and techniques on hand, you can measure your level of engagement and see what’s working and in which areas you need improvement.