Technology is the great leveler, and if you are tech savvy and an early adopter of technologies, then you stand an excellent chance of moving way ahead of the pack. As a retailer, you understand better than most the advantages of being first on the block (or corner). It allows you to form long lasting relationships with your client base, which makes it almost impossible for a competitor to come and wrest these reliable customers from you.
The opportunity for you as a retailer to go a leg (and arm) up on the competition is available to you in the form of digital signage. What is digital signage anyhow? I hear you asking; well digital signage quite simply means the use of digital displays, such as LED, LCD, and Projectors to display content such as digital images, videos, streaming media and information; that is the definition according to the ever resourceful Wikipedia.
Plummeting CostsThe Hype Cycle graph is composed of the following five stages; The innovation trigger- this is the point at which technology is invented, so to speak, where the curve moves steeply upwards. The Peak of Inflated Expectations- This is the point at which the technology has reached the point where the curve levels out as people become acutely aware of that particular piece of technology. The Trough of Disillusionment – The bottom of the curve, where developers start figuring out how to make practical use of the technology.
Such digital signage displays can be placed anywhere where people congregate such as inside your shop on the display windows, above your shop (hanging from the roof), besides the goods and more. As a retailer, you can use it in helping your customers find their way around the shop, for exhibitions, marketing, and outdoor advertising. The options are quite simply limitless, and the only thing that stands in your way of adopting this technology is your cash and imagination.
Turnkey SolutionsNow that we have explored how easy it is to have turnkey solutions, let us examine some statistics which should inform you of why you need to take up such a solution as soon as yesterday;
- 25% of all organizations consider this channel to be their top marketing and advertisements priority. It can act as an unlimited content delivery channel, and the returns on the investment are remarkable to say anything but the least.
- 70 % of all the people who interact with a digitally displayed advertisement confess that it catches their attention and subsequently plays a significant role in their purchase decisions. In short as a conversion tool it quite simply has no peer.
- 90% of polled retailers confess unabashedly that retail digital signage creates unmatched brand awareness that is peerless. It is the face of the store, and it has the effect of pulling people in to come and make a purchase.
- 73% of the public prefer digital video content over any other form of content. Compared to online platforms, such as social media which reach less than 40% of the population, this medium interacts directly with the customers who are already interested in buying the goods (or service) on offer.
- 44% of retailers if they were to be given a choice between a store that has digital video displays and one that does not, they would prefer shopping at the shop with digital video displays. Thanks to technologies such as 4K Ultra HD which drastically improve the visual experience, we are sure to see the interest in digital display media increase with time.
- 33% perceived reduction on waiting time in establishments that use digital media displays in the waiting room. So as a retailer, if you invest in this, you can be sure that you will keep your customers happily engaged as they wait to pay up on the service that you have on offer.
- 31% of clients who frequent retail outlets are significantly influenced by digital media when they are making purchases. The vibrancy and eye-catching nature of these stores that use digital displays are the tipping points that make them choose one store over the other.
- 60% of the top 100 US retailers are actively using beacons (a form of targeted advertising that uses proximity, GPS, and apps to communicate) in conjunction with digital displays to communicate with customers and push promotions, offers and marketing information.
- 70% of all the buying decisions are made at the POS; this means that if you put digital displays strategically at the point of sale, then you are 70% more likely to make that sale as compared to not having the digital display system.
- 31.8 % the upswing in sales volume for retailers who use digital advertising displays on their businesses as compared to those who do not. Retail digital signage offers a vast sales potential for any retailer who is interested in getting ahead of the queue regarding sheer sales volume and the margins that accompany it.
Digital Signage: The Unmatched OpportunityThe chance to increase customer numbers, sales figures, brand identity is made available now to any retailer who decides to switch to digital signage. The biggest barrier to entry then, which was the prohibitive cost had been leveled making it possible for all types of retailers to stake their claim in this new and exciting digital medium, which promises to transform the advertising landscape. With costs that start out at under $400 for the service, there is no longer a viable excuse for anyone to claim why they should not be playing in this space.
To spice this up further, many players use a freemium model, in which case you engage the services for free (albeit with limited functionality) and then you have the option to upgrade as you move forward. The options are many and varied, as each player works hard to ensure that they have an offering that fits the needs of all types of businesses more so SMBs correctly. The time for you as a retailer to make the giant leap to retail digital signage and media advertising is now