Digital signage is an electronic display platform that can be used for advertising, building brand awareness and delivering important information about a company’s products and services via high-quality graphics and videos. By 2020, experts predict this particular advertising medium will transform into an industry that’s worth more than $20 billion.
Since digital signage displays can deliver comprehensive announcements, timetables, emergency information and product descriptions in real-time, it can give businesses an edge over their competition. In a day and age where consumers no longer respond to print ads and the cost of client acquisition is becoming more expensive, here are five benefits of digital signage displays that can increase your client base.
Increased Recall and Retention Rate
Digital displays capture 400% more views than static displays. Not only do they capture more views, but their recall rate is 83%—significantly higher than any traditional media. With 8/10 customers entering an establishment just because a sign caught their eye, added foot traffic and new customers are virtually guaranteed. In terms of improving operational efficiency and retaining customers, the adoption of time-in-line update monitors has also reduced the perceived wait time in banks, hospitals and service-heavy industries. As a result, customer complaints are reduced and customers are more likely to visit again, improving same-store revenue.
Boost in Revenue
A combination of powerful text, images and videos strongly influence purchasing decisions, especially since 60% of a shopper’s purchasing decisions are made at the point of sale. Plus, around 80% of brands that use digital signage displays experience an increase in sales of up to 33%. The benefits of digital signage, or as it is also commonly called, Visual Communications, are that it can create an immersive consumer experience, increasing opportunities for cross-sells, up-sells and impulse-buys by quickly adapting and deploying engaging content when and where it matters most. Data analytics and reports on market trends, spending patterns and sales performance from digital signage ads can be tracked and pulled via web-based applications such as the Four Winds Interactive (FWI) Content Manager.
Since digital signage displays eliminate the need for printing, companies that use digital signage technology can reduce the cost of printing materials like brochures, menu boards, traditional billboards and large posters. Digital signage benefits companies by cutting the costs of the logistics and storage of these marketing materials, which not only reduces spending, but also saves time. By saving on printing and material costs, businesses can focus on churning out high-quality content and graphics, instead.
In a few clicks, your advertisements can be optimized and displayed to suit the ever-changing needs of your target market. The design can also easily be sent and deployed to other branches in a matter of minutes. Cloud-based platforms, like the FWI Content Manager, allow seamless creation, deployment and maintenance of existing and upcoming ads via a drag-and-drop user interface. This digital display solution suite also lets users leverage the Content Management Web system (CMW) to set parameters, expand locations and edit content from any browser.
Another of the digital signage benefits is that technologies can aggregate social media content, display RSS feeds and weather updates while advertising products and services. Digital signage can also be used to stream videos about products and services to help drive overall brand messaging. This technology creates a new avenue of customer engagement and feedback strategies. Aside from gaining insights into the products and services directly from customers who have experienced it for themselves, digital signage allows customers to give feedback instantaneously. Since 92% of consumers trust peer-to-peer recommendations over traditional advertising, linking social media assets alongside your product information will not only promote your brand, but it can reinforce trust.
What Can It Do for Your Business?
Although some brands prefer print as their primary display method for large-scale outdoor advertising, digital signage displays are beginning to capture many other markets. Four Winds Interactive is one of the most competitive Visual Communications companies, offering low-cost, easily deployable and flexible solutions that yield a higher recall rate and increased retention.
There are many more benefits of digital signage being used as one of your customer touch-points. It can act as an extra sales person or customer service representative when everyone else is busy—think of it as an interactive entertainment medium while customers are waiting to be served. Industries in the retail, finance, hospitality and healthcare sectors can greatly benefit from using this technology to increase brand awareness, disseminate product information and interact with customers. For more information on how a cloud-based digital signage solution can help your business, contact us today.