Digital signage can benefit your organization in many ways, but to get the greatest return for your investment, it must be used effectively with a comprehensive strategy. This includes understanding who your target audience is, how they are different from other audiences, what type of information or media you want to present to them, when you want to reach them, and what you hope to accomplish once they have become accustomed to your signage and become a regular part of their daily routine. Digital signage is an easy way to grab the attention of the general public, making your brand or product the most recognizable in a crowded environment. When used effectively with a comprehensive strategic plan, it can also increase sales and increase profit margins.
Define Your ROI Your return on investment (ROI) for digital signage promotion depends on three factors: the cost per lead, the cost per action (CPA), and the ROI as a whole. To figure out which measure of return is appropriate for your organization, you first need to define your goals for your digital signage campaign. These goals should include not only the return on investment for the advertising itself, but also the return on investment for the message you want to transmit to your target audience. This will include both the visual content that will be presented on your sign and the persuasive messages that will be communicated through your copy. To calculate your ROI for digital signage promotion, simply multiply the cost per lead by the number of leads generated. Also multiply this number by the number of actions taken, such as purchasing a product or service.
Determine Your End Date For any advertising program, you must establish a date by which you will achieve your ROI. Most companies that offer digital signage tracking software will provide a built-in calendar that will show you when your specific dates for results will be. For a more visually appealing calendar, you can use any online calendar service, such as Google Calendar, or you can simply create a custom spreadsheet for yourself. Your calendar will have your targeted end date, the cost per lead as it applies to that date, and other relevant metrics, such as number of views, percentage of action, cost-per-lead dollar amount, and average time on site.
Measure Your ROI Once you’ve established your goal for the success of your digital signage displays, you need to know how to measure your success. One common method used is to compare the cost per lead on one display during a specific time period versus an alternative date, such as the end of the same month. Another option is to compare the number of times that an ad was displayed versus the number of times that a visitor viewed it. Digital displays that show images usually perform better than text links, so make sure you include images in your advertising test. Keep in mind that these kinds of tests are more time-consuming than the ones measuring actual roi, so if you have limited resources, it may be best to choose a less time-consuming method for assessing your digital display’s performance.
Select Yes/No When a user selects a certain section of your digital signage, which part should the advertisement display? There are usually two selections: one that says “Yes” and another that says “No”. The “Yes” selection is usually used when a digital display is part of a promotion spud package, such as a seminar or training event. The “No” selection is normally used when the digital signage is simply part of a marketing campaign or a social media initiative.
Read White Paper If you’re not comfortable with creating and managing documents manually, there are software applications that are designed to make this task easier. A typical application will enable you to read white paper that is located on the Internet and/or within other PDF files. These applications are easy to install and manage, and most offer features that make it easy to edit the document that is being read, as well. This kind of smart signage solutions allows the signage displays to read white papers as well as documents. Some may even allow you to download documents directly from the Internet onto your display. For more details on this visit your local trusted sign company.