The Continuant Blog

The ROI Case for Digital Signage

It isn’t always easy to articulate ROI for digital signage. A common misconception is that it can’t be measured. In this article however, we will learn how to determine ROI for signage by determining ROO (Return on Objective). The ROI formula for digital signage begins by identifying your objective for the investment. Once you know why you need signage, measuring the impact it could have is easy. Today’s marketgoers are captured by a digital storefront that engages and interacts with its audience. Find out in this article how digital signage offers a return on investment you can’t refuse.  

Let’s begin.

Renewing the Face of Your Storefront

Today’s customer comes complete with a digital imagination. They learn about your company online and decide whether they should visit in person. If they do come to your “brick and mortar” (which is a pretty big deal in the age of Amazon), they come expecting a few things. But above all else, they expect a consistency between how you appeared online and who you are in person. If the modern customer’s mind is formed first on a screen, it behooves the marketplace to renew the face of their storefront with digital signage… with screens, that is. Once a storefront reflects the digital expectations of a modern consumer, they could be one clear message away from needle-moving success. 

Crisp digital signage provides your customer with that seamless experience of your brand. Brand consistency in turn builds rapport with your target buyer personas and turns fair-weather customers into loyal devotees. Could you handle a few more evangelists for {your company name here} walking the streets?

The ROI conversation for digital signage begins with recognizing market trends and renewing the face of your storefront. Renovation in a digital age is crucial to delighting your customer. 

Now that all the market information your customer needs is available through the phone in their pocket, it is up to the marketplace to make the pivot and remain palatable to the modern customer. The masses are looking for a reason to come back to the face-to-face market. Give them a sign.  

Return on Investment = Return on Objective

The industry formula for calculating return on investment for digital signage is, amount profited minus amount spent, then divide that by the amount spent and multiply it by 100. Yet it isn’t always that easy to determine the “amount profited” part of the equation. For example, if your signage is there to point people in the right direction at a university, you can’t put a dollar figure on what that profited you. But if your university is confusing and first-time guests and potential attendants can’t find their way on campus, attendance will eventually reflect that and so will the feedback. 

If you are looking to determine a return on investment for signage, first determine a clear goal for your signage, as well as how you can apply metrics to it. What are your customers always missing that signage could solve? Determine that, and you will start to have a grasp for what kind of return on investment digital signage may bring.

It is invaluable to customers whose shopping expectations are being formed by “one-click” to navigate easily and informed throughout your store. When people prefer coming into your store when they could have bought it with less effort online, you can call that a success!

Tip: 

Ask what the objective is for your signage. Observe your current signage solution to determine whether that objective is being met. If it’s not, and if it is lowering your customers experience, it may be time to inquire on a new signage solution. 

Digital Signage’s Shot at Real-Time Data

Now more than ever, digital signage can provide real-time analytics so you can measure Digital Signage Advertisingthe return on your investment. The same data you gather when someone visits your website can be gathered when someone visits your signage (dwell time, age, gender, etc.). With this kind of data, you gain precious insight into what is captivating your customers as well as what they are ignoring. Have you ever seen this symbol on a sign? 

Digital signage integrates your customer’s smartphone experience with their personal, “actually really there” experience. A dynamic signage solution communicates to your customer that you are part of the same evolving world they are.  

Last Thoughts 

By determining the objective behind a signage strategy, your company can determine whether signage is worth it and what it might save (or even earn) your company. In today’s marketplace, it is crucial that a company creates an experience in the marketplace that is unique and only available in-person. While other companies are losing customers and store traffic, the company with compelling signage is attracting the modern customer. How will your store earn a place in the market’s imagination?

Subscribe to our Blog