Digital Signage and Return on Investment (RoI)
Being a new innovation there are many unknowns when it comes to the use of digital signage. One of the most fundamental when it comes to working out whether to invest in this new technology is trying to work out the return of investment.
Despite the falling cost of LCD and plasma technology, using these type of screens can be expensive, particularly for large chains that are contemplating rolling out the devices in each location could be a multi million dollar project. However, in considering the return of investment it must be made clear what exactly the digital signage is to be used for.
There is far more to this technology than just digital advertising. Other applications for digital signage can include:
Public information such as maps or local news
Corporate information such as important health and safety information or production levels
Targeting information to influence customer behaviour and reduce anxiety (such as in queues)
Creating a good image, digital screens look far better than print advertisements.
In estimating a possible return of investment it is with considering what the planned signage campaign is for an whether additional applications could be used for the system. For instance if the signage is destined to for advertising space at say a check out queue which could influence customers behaviour, it may be worthwhile to place entertainment on the media too, to break up the advertisements and to keep people interested in the message you are trying to get across.
This multi-application is one of the real benefits of digital signage and can help increase any returns. It is also worth considering that digital signage is no longer just an indoor media. The increasing use of LCD enclosures that are waterproof and resistant to extreme temperatures means that digital outdoor signage is not only possible but also incredibly easy to do. Outdoor digital signage, in general will reach more people and generate a higher ROI on any investment into digital signage.
About the Author:
Richard N Williams is a technical author and a specialist in the digital signage industry helping to develop outdoor digital signage and protection for plasmas. Please visit us for more information about LCD Enclosures or other digital signage solutions.
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