Competition is fierce in the digital age. Just when you think your business is prepared to meet the needs of the modern consumer, suddenly everything changes (again!).
It’s an ongoing challenge for businesses of all sizes to stay ahead of the technology curve, especially when it comes to communicating with their customers and employees. Large enterprises can be slow to implement new technology due to scalability and roll out issues, while small to medium businesses struggle with the upfront costs.
When you invest in technology for your business, you want to be confident that it will continue to add value for three, five and even 10 years down the road. And as a conscientious business operator, you rightfully want to see a return on your investment over a certain amount of time. One technology investment that strikes this balance between shelf life and ROI is digital signage.
See these seven reasons why your business needs to invest in digital signage today for communication success tomorrow.
Demand for digital signage is growing rapidly as more industries find ways to make use of this versatile technology. The global digital signage market is expected to grow to a $25 billion industry by 2020, up from approximately $16 billion today (Reuters, 2017). This increase stems from consumers’ growing expectation of dynamic and interactive digital communications like digital signage.
Similar to the trends we see in the consumer electronics industry, as technology improves and manufacturers scale up production to meet the growing demand, the cost of digital signage hardware has generally decreased. From hardware like LED screens and media players to new SaaS-based CMS platforms that are easier to install and manage, deploying digital signage is more scalable and affordable than ever before.
Beyond its immediate draw as a dynamic way to connect with customers in-store, digital signage integrates with some of the most exciting technologies expected to mature over the next decade like beacons, IoT and wearable tech. Digital signage combined with beacon technology unlocks amazing content personalization and wayfinding possibilities for the hospitality industry. Digital displays as part of an IoT (internet of things) strategy breaks down barriers between technologies for dynamically generated content and deep data integration.
According to a recent study by Cisco Systems, over 40 percent of shoppers say that digital displays like video walls and screens near the point of purchase can change what they buy. By using digital signage to provide relevant product and promotional information to shoppers while in the store, retailers can generate higher brand awareness and boost sales.
The most profitable customers engage with a company through multiple channels before making a purchase. Maintaining multiple touchpoints with customers is essential when it comes to developing a strong brand relationship. Beyond making an impactful first impression, digital signage also serves as a channel that can help build a long-term relationship with your brand. Bridge your multichannel efforts with the in-store experience through digital signage to create an omnichannel shopping experience.
Digital signage doesn’t need to be customer-facing to be a worthy investment. Your employees are your business’ greatest asset—keep them engaged with informative digital signage. Many organizations use digital signage to keep their employees up to date on the company’s goals and achievements. Employees who feel connected to the goals of their company and have the info they need to perform their jobs well are known to be 22 percent more productive. This bump in productivity translates directly to your bottom line.
Employees and customers today do not tolerate outdated information. It’s time to move on from traditional bulletin boards, printed newsletters and window posters in favor of a modern solution. Aside from the coordination time and hard costs to produce, it’s plain wasteful to print materials that will be outdated in a matter of weeks. Digital signage is an evergreen solution that engages your target audience at a deeper level and can be updated with critical information in real time from one location.
When you are ready to streamline your communications and engage internal and external audiences with digital signage, our team of experts is available to discuss a solution that will work for your business. See how RMG goes beyond the screen today.