Digital Signage Is The Next Big Revenue Driver

Digital Signage Is The Next Big Revenue Driver

Last week I saw an ad pop up on my kindle for a Thigh Master.  I had big hair and it was 1988 the last time I recall seeing Suzanne Sommers promoting the dream of toned thighs.  I want to assure you that I did not spend my hard-earned cash on such nonsense, but there is a FedEx box in my entryway that says otherwise.  I work in the digital signage industry, so I know more than most the power of well-placed ads on screens, and yet I still got sucked in!  This got me thinking about the value of digital signage as part of a revenue or sales strategy.

I’ve been leading technical sales teams for more than 20 years and have spent many hours developing sales goals and plans.  It occurred to me that while generating revenue in a retail store environment is different than B2B sales efforts, the general components are the same.  With the added visual push of digital signage, the message becomes far more powerful.  Let’s take a look at some steps to develop your revenue uplift strategy with digital signage as the cornerstone.

Getting a Digital Signage Project Right

Set Your Objectives 

Putting a few screens in your location and hoping that your customers find them fun, helpful, engaging is not enough.  Take some time to look at current seasonal revenue swings, what is selling, what is not, what products can be paired and the typical demographic of your consumers.  Using this information, set some goals – revenue, profit, consumer expansion. Make your goals specific and measurable – they can be amended, but you can’t know where you are going if you don’t know where you started.

Create Your Marketing Communication Message 

Studies show that people respond to digital signage displays at a far higher rate than static displays – I have read that digital signage gains 400% more views than paper signage all while costing less in the long run. Consumers expect to be educated and entertained (thanks YouTube).  Digital displays showing how to, and why and how much through engaging video content are far more likely to result in increased sales and upsells.

Set a Timeline

Perhaps start with a seasonal promotion.  As we roll into summer, maybe your signage shows how to apply self-tanner instead of just letting your customers know it’s on sale. At the end of your initial time frame, stop, analyze and measure.  Bottom-line, treat your digital signage strategy, in the same manner, you would any marketing endeavor – plan, execute, analyze, measure, refine, repeat.

Digital Signage Shows.
We are visual beings, and we want to belong.

So, let’s get back to me and my new Thigh Master.  Will I use it – probably not.  I am used to getting teased for my goofiness by my husband and son, but thigh mastering during family TV time would certainly result in levels of hilarity from them that even I cannot stomach.  So why did I buy it?  There are 2 reasons – I love getting packages and the video made promises that I couldn’t resist.  You get it – it’s the same reason we join gyms, buy the makeup our favorite celebs endorse and spend silly amounts of money on athletic shoes that will never see the inside of that gym.

We are visual beings, and we want to belong.  Digital signage populated with content that shows (not tells) the benefits, ease of use, and popularity of products and their available add-ons helps consumers feel good about the decision to purchase.   Ultimately this builds not only revenue but loyalty and community resulting in a shopping relationship that is mutually beneficial for the consumer and vendor.

 Written by Janette Wood