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Everything You Need to Know About Digital Signage
If you’re a business owner or entrepreneur in 2022, it’s likely that you’ve heard of digital signage technology. These digital signs for business purposes have become quite the hot topic in recent years, being touted as one of the more effective forms of marketing and fostering customer engagement, with plenty of stats available to back these claims up.
But what is digital signage, really? What should it be used for? Why is it such an essential aspect of running a business in the present day? We’ve put together this guide to answer these questions and more, so you can feel confident that you fully understand digital signage before you start trying to use it yourself.
Digital Signage Definition
Digital signage in its simplest form is essentially a digital take on a traditional signage display. This means that information can be broadcast on displays in real-time, which can be very useful in a business setting where things can change at the drop of a hat.
Common places where you might see a digital signage display include restaurants and airports, each being a location where customers require regular updates on the happenings of the day. They can also be used in a variety of other hospitality settings or even in retail stores, as well as being used for advertising or to provide guidance in public spaces.
Common Uses for Digital Signage
Digital signage can be used for a variety of different purposes, ranging from the more general to the more business-specific, with some of the more common uses including:
- Broadcasting menus: This can be used both behind the counter and for ordering from, largely in fast food establishments, such as McDonald’s.
- Showcasing educational videos: This is largely used in museums and comparable public spaces, such as areas with historical relevance or tourist appeal. Also used in schools!
- Giving directions & wayfinding around spaces: This can be used in anything from a museum to a shopping mall, just like traditional, non-digital maps.
- Broadcasting advertisements and marketing messages: This is largely used in public areas, much like traditional billboard advertisements, but with more space for creativity.
- Showcasing inspirational quotes: You might find this sort of thing in an office or broadcast near a public walkway, simply to increase morale.
- Company memos and messages: Used in a similar way as mass emails, important messages can be broadcast to staff members across office spaces with digital signage.
- Business directories: In malls, retail parks, and similar settings, it can be useful to include directories, so people know what to look for and where to find them.
- Calendars and event schedules: Whether in an office, events space, or business of any other kind, these are handy for keeping people up to date.
- Emergency messages: These can be needed in any setting, regardless of the nature of the business.
Digital signage can range from the simple broadcasting of messages and information to interactive systems that allow users to take part, which just goes to show how versatile these signs can be for businesses.
Why is Digital Signage Important?
Understanding what these digital signs are capable of, you may still be wondering “what is a signage display going to do for me and my business?”, which is a fair question, especially in a world where traditional digital advertising is largely seen as king. Part of assessing the potential benefits of digital signage can originate in understanding the drawbacks of typical online marketing techniques.
Conversion vs. Lift
Studies indicate that the effectiveness of online advertisements is largely oversold, with conversion rates being an uneven, inaccurate way to measure their success. The efficacy of both Facebook and eBay advertisements is overestimated by around 4000% by each of the companies, with conversion often being confused with lift.
The lift of an advertisement is the amount of behavior that is altered by the ad’s existence, while conversion is simply the number of sales that come after an interaction with an ad. In the case of many online ads, high conversion rates are seen, but in cases where people already had an existing interest in a product or service. This can mean companies seeing high conversion rates without seeing any real increase in sales.
On the other hand, digital signage has been shown to reach a wider audience, increasing sales for 80% of brands that use them by up to 33%. Along with this, digital signage has been shown to have a recall rate of around 83%, almost twice as much as the retention rate for more traditional advertising techniques. A digital signage system can clearly do a lot for both lift and conversion when it comes to marketing, making it seem like an increasingly vital aspect of a company’s strategy.
How Effective is Digital Signage?
When investigating how effective digital signage really is, you need to consider how it’s used in its different contexts. As shown above, it can clearly have some tangible positive impacts on marketing, advertising, and general turnover but is it quite as valuable in other settings?
Marketing & Brand Awareness Stats
When it comes to marketing, it’s clear that digital signage can make a real difference, with some key stats including:
- 7% effectiveness in increasing brand awareness
- Digital displays gain 400% more views than traditional signs
- 83% recall rate
- 75% of travelers recall digital billboards every month
Corporate Wellbeing Stats
Along with being used for marketing and sales, digital signage can help to facilitate some more abstract benefits in corporate spaces. Some of the things that digital signage can aid in at an office include:
- Employee communication: Companies that communicate clearly with staff are 4x as likely to retain employees, which digital signage can help with in a big way.
- Company values: 47% of employees in the US claim not to know what their company’s values are. Digital signage can help to reinforce them on a day-to-day basis.
Along with being used for profit-based organizations, digital signage can also be used for educational purposes, with some key statistics and benefits including:
- 96% of students prefer some sort of video content to enhance learning
- Sharing sports fixtures, campus events, fairs, fundraisers, and more with students
- 73% of institutions recognize digital signage as vital to the future of communication
- 70% of colleges installing digital signage systems onto campuses in some capacity
Is Digital Signage Here to Stay?
If you’re still skeptical about using digital signage, all we can say is that you don’t want to get left behind. The global value of the digital signage industry sat at $23.5billion in 2021 and is only expected to grow, with some estimating that it will be a $45billion industry by 2030.
If you’re operating a company in any of the fields we’ve described, we recommend picking a good digital signage business to install and optimize the software, so you can make the most of your newest business tool.
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