Have you ever thought about using digital signage in your business?
While many business executives and strategists jump straight to your typical marketing strategies, like search engine marketing, social media ads, print advertising, television commercials, and digital campaigns, there’s one underrated route many don’t take that often leads to what every business owner desires – business growth.
So what is this underrated marketing strategy route? Digital signage, of course!
What is Digital Signage?
Put simply, digital signage is an upgraded and elevated way to use signage. Instead of a static sign, digital signage utilizes LCD and LED screens to display unique dynamic content, such as business information, current promotions, images, video, wayfinding, and more.
Digital signage displays are changing the way businesses not only promote and market their products and services, but also how they engage and connect with their target audience, which is crucial for standing out from the competition.
However, at Studio 78, we understand that digital signage is a new concept for countless business owners and many often wonder if it is even worth spending money on!
To help you better understand this unique digital marketing solution and how it can help your business grow, take a look at the 10 remarkable benefits of digital signage below.
Benefits of Digital Signage
1. Increase Exposure and Brand Awareness
As someone who works in business, you know how important it is to effectively get your brand name out there and increase awareness.
By strategically placing digital signage in high-traffic areas, you can seamlessly increase brand awareness and amplify brand exposure for boosted customer acquisition rates, as well as better awareness with your current customers.
2. Boost Engagement
Did you know that, according to research by Intel, digital displays capture attention 400% more than static ones? This increased attention rate delivers the perfect opportunity to boost engagement and connect with your target market in a more impactful way.
At Studio 78, we believe this is one of the top digital signage benefits, as increased engagement means more chances to boost sales and impact overall business revenue.
3. Lower Perceived Wait Times
Does your business have waiting areas for customers and clients? As you can imagine, no one likes waiting in line or in a bland, boring room. However, with digital signage, there’s a unique opportunity to take their mind off of the waiting, which lowers perceived wait times and delivers an overall better customer experience.
This is one of our favorite benefits of digital signage, as this marketing solution effortlessly keeps those who are in your waiting area entertained and engaged!
Not to mention, with customers and clients already paying attention to your digital signage content, it’s never been easier to bring awareness to current promotions, products, and services for increased sales.
4. Quick Content Implementation
One of the biggest downfalls with physical marketing collateral and campaigns that involve print materials is that it often takes several weeks or even months to implement changes.
With strategic digital marketing, you can seamlessly implement quick content changes with just a few clicks of a mouse. This saves you both time and money, as you wouldn’t need to jump through several hoops or spend extra money to change a piece of content, like you would if a word or image needed to be changed on a bus wrap or billboard.
5. Time-Sensitive Advertising
As mentioned above, one of the top benefits of digital signage is the ability to implement quick changes to content. In the case of time-sensitive advertising, digital signage solutions reign king in versatility and adaptability.
For instance, if you’re in the financial industry and the market experiences a slight surge, which inevitably impacts your interest rates, with digital signage you can quickly shift to show prospective and current customers the going rates for relevant promotions and advertising.
6. Better Customer and Client Satisfaction
As you can imagine, increasing exposure, lowering perceived wait time, boosting engagement, and implementing time-sensitive, relevant advertising all positively impacts customer and client satisfaction.
As a consumer yourself, you likely know how frustrating and disappointing it is to walk into a store promoting a sale via a large banner outside, only to find out the sale ended the day before!
With digital signage, removing content that’s promoting outdated products, services, or information is easy – in many cases, all it takes is just a few taps of a finger!
Furthermore, digital signage gives the opportunity to implement unique applications that foster valuable engagement and connectivity with customers and clients visiting your physical locations.
These unique applications include interactive wayfinding, digital menu boards, trivia games and quizzes (these are effective at reducing perceived wait times!), entertaining video content, and so much more.
7. Increase Sales
When you deliver a better customer and client experience, increase brand awareness, and continually promote relevant products and services via digital signage, you will no doubt increase sales and elevate your business’s revenue.
Furthermore, an interesting study from DataTrend found that digital signage in retail businesses increased purchase amount by almost 30%! Why? Because strategically placed digital signage influences consumers to make informed purchases.
8. Improve Recall and Retention Rates
For many businesses, a principal goal is to efficiently attract new customers and effectively retain them for as long as possible, while continuously increasing their customer lifetime value (CLV).
How is this achieved? Through optimal brand recall and retention rates.
One underrated digital signage benefit is how it improves both through the use of dynamic content that simultaneously attracts attention of consumers and showcases upcoming promotions that influences them to return in the future.
For recall rates specifically, the impact of digital signage compared to static signage is astonishing. On average, visuals get 94% more views than text-based information. And after three days, people retain 65% of visually presented information.
While that’s a high percentage in itself, digital signage has an astounding recall rate of 83%. This number is almost double the information retention rate for traditional advertising and static visuals!
9. Cohesive Branding
Cohesive branding is essential for optimal brand awareness and brand recall. If your target market is unable to recognize your brand, or fails to associate the positive experience they had with your company to your brand name, how will they know to buy from you?
With digital signage, all of the displays are managed by one content manager, which can implement a cohesive look to all your digital displays not only across one single building, but across all your physical locations – even if they are in different countries!
This cohesive look and synonymous messaging is key for optimal brand recall rates.
However, to make sure your business is using cohesive branding across all locations, it’s important to go with one digital signage content manager.
At Studio 78, we use an online content manager – hosted on our secure servers – that makes it easy to manage and update your content from anywhere! Plus, we help you create unique, eye-catching designs and content that sets you apart from the competition.
If you’re interested in learning more about Studio 78’s digital signage solutions, click here.
10. Digital Signage is Cost-Effective
Last but not least, one major benefit of digital signage is its cost-effectiveness. Generally, it takes fewer people to manage display advertising than print advertising, as all content can be produced and rolled out from a central location or one main content management system.
This means lower operating costs, as well as time saved changing and implementing fresh content. And as you well know, time is money!
Furthermore, compared to traditional print materials (like billboards), it’s far more affordable to design and roll out creative content for digital signage!
Instead of spending weeks hiring a team to design physical marketing materials, finding a reputable printing company, and then actually going out and installing the print materials, digital signage content can be designed and put into action within just a few days.
Even more remarkable is how digital signage can open doors to additional income streams. Once your digital signage displays are installed, there’s a unique opportunity to recoup your original digital signage investment by selling advertising space to other companies and brands who are not in your industry but that have products and services complementary to your own business.
For example, if you’re a healthcare provider, you could sell some digital signage space to a wellness center in town that helps patients implement healthier habits! Or if you’re a bank, promoting a local grocery store’s deal-of-the-week to help your customers save money.
Why Digital Signage is Ideal for Business Growth
Are you ready to take advantage of all the remarkable benefits of digital signage? To sum it up, here’s how digital signage can positively influence your business growth. This remarkable digital tool can:
- Increase exposure and brand awareness through motion displays that capture attention.
- Boost engagement with your target market with interactive digital signage displays.
- Lower perceived wait times for your customers and clients with enjoyable entertainment.
- Implement content quickly and efficiently for time-sensitive advertising.
- Improve your customer and clients experience for overall better company satisfaction.
- Better capture consumer attention and highlight relevant products and services for increased sales.
- Improve recall rates through the use of dynamic content.
- Increase retention rates with timely and relevant messaging.
- Improve cohesive branding by using one content manager across the board.
- Save your business money by cutting down on time and money spent on print marketing.
- Expand your revenue streams by selling advertising space to other companies.
Studio 78’s Digital Signage Solutions
The professional team at Studio 78 are experienced in helping businesses grow with digital signage solutions. We specialize in digital signage for the financial, healthcare, senior living, and fitness industries.
If you’re ready to utilize digital signage software for elevated business growth, get in touch with the Studio 78 team today! Contact us by emailing sales@studio-78.com or give us a call at (320) 762-6551.
