The Hidden ROI of Your Digital Signage Technology
Take digital signage technology, for example. In retail stores, you can certainly measure the increase in transactions for items you promote via digital signage technology and use that in your calculations. Using digital signage technology for worker communications has no such metrics to equate.
Let’s observe various sides of ROI where digital signage technology is the asset in question, so you can decide the best way to compute yours.
More dough coming in—revenue-based ROI
One of the most public business objectives for digital signage technology is to boost revenue. While this is true in retail, it also relates to consumer banking, healthcare, and other surroundings. There are two core workings of revenue-based ROI: sales lift from marketing, promotions, and advertising.
Sales from promotions are by far the most dominant lever for ROI
. No one will debate that using digital signage
to promote your brand or products can surge your sales. After all, what better spot to promote and encourage a transaction than right in the store? But, using your digital signage as one long, unceasing promotion—or worse, just to repeat television commercials—can cause it to disappear into the background as noise. When it stops engaging your audience, it can refute the very sales lift you envisioned. At any rate, a sales boost is easy to measure, and therefore the benefits resulting from digital signage and content are easily recognized.
The other revenue-based ROI handle is advertising, the third-party monetization of the signage.
Digital signage billboards use this device exclusively, but many establishments find that renting out “ad space” on their digital signage to harmonize third-party brands can be a profitable revenue source. When these are prevalent brands—brands that sell their goods in the retailer’s store—the shop gets both a sales lift and
advertising profits. Nonetheless, you can effortlessly include the resulting advertising revenue in your digital signage ROI calculation.