Forming a Business Case For Installing Retail Digital Signage
Being a digitally advanced retailer in 2021 requires change and innovation throughout the business. The convergence of upgraded devices and technological advancements will guide the growth of online and in-store retailing. This is an inventive time for brands, and the way they invest their time and money will determine their position in the future marketplace.
Digital signage is one area that will help brick-and-mortar stores advance in 2021 but how do you form a business case for installing digital signage within your retail organisation?
Here are SignStix’s 5 areas you should consider when forming a business case for installing digital signage in 2021:
1. Health Guidelines
Consistently communicating health guidelines daily will not only help to keep individuals safe but will put shoppers and employees at ease knowing exactly what is expected from them. Communicating wearing face masks, using sanitization stations, social distance protocols and limited occupancy shows the business cares about the health and safety of their community.
2. Digital Signage is Memorable
Digital signage can enhance brand memorability and recognition through engaging, visual communications. With a proven recall rate of 52%, compared with television (32%), billboards (30%) and magazine (21%) (TTV Marketing Report), consumers are immediately drawn to digital.
3. Display Personal, Data-driven Communications in Store:
- Display department-specific screens around the store to inform and guide customers
- Promote sale items in-store to help increase the average purchase amount
- Communicate social media activity to encourage multichannel interaction
- Increase product awareness to drive sales
- Influence customers’ buying habits by promoting items dependent on the store’s demographic
4. It Increases Sales and Profitability
Digital signage increases sales and profitability by influencing purchasing decisions, increasing the average purchase amount and maximising workflow. Providing digital experiences that create an atmosphere and entertainment in-store have helped to add value by:
- Increasing the average purchase amount by up to 29.5%
- Adding an upswing in overall sales volume by up to 31.8%
- A growth in repeat buyers by up to 32.8%
- Raising in-store traffic by up to 32.8%
- Improved brand awareness by up to 47.7%
5. Digital Signage is Fairly Inexpensive
Dependent on the solution, digital signage can be fairly inexpensive to effectively communicate messages and promotional material. The SignStix player consumes just 10W – about the same as a low-energy lightbulb. By utilising the SignStix Player (an inexpensive, energy-efficient, Android device) you can substantially drive down the cost of digital signage, resulting in high-impact, screens becoming an achievable addition to any business.
Check out some of our case studies.
Looking to install digital signage within your organisation? Contact us as we’d love to help you with your project.