To understand the true cost of digital signage, you’ve got to examine both ends of the spectrum.
The Highs & Lows Of Digital Signage Costs
Even though digital signage is a great investment for such industries as restaurants, education, hotels, healthcare, government and the like, you might not be entirely convinced of their overall utility and whether they’re worth the investment. To help steer both you and your business in the right direction, it’s best to have a solid and well-rounded grasp of the true cost of digital signage.
Digital Media Has a Longer Reach When Compared to Online Videos
Even though it seems as if almost everyone in the world is on Facebook, it still doesn’t change the fact that more people see the digital media displayed on digital signage. The more eyes you reach, the more attention your services, products or information gains, which results in a better ROI overall. Even if you don’t manage to convert every person who sees your signage, you never know who they might share the information with, which can result in a successful conversion or at least stir up some interest. Even better is the fact that the person might share your information through social media, which can boost the signal and the potential for conversions even more.
Know Which Factors to Consider When Determining Your Total Cost of Ownership
When it comes to your digital signage cost breakdown, you’ve got to think beyond your initial investment. For instance, consider whether the signage included any parts that kept you from having to purchase extra components. If the signage includes consumables, think about how often they’ll need to be replaced and how much doing so will cost. Think about how much power your signage will consume and if your equipment needs to be cooled. Finally, your signage will likely need to be serviced sometime in the future. The easier it is to access the parts that commonly need to be serviced, the lower you can expect your service costs to be.
Overall Quality Makes a Huge Difference
If you have yet to buy your digital signage, remember that quality has a massive impact on not only your long- and short-term costs, but your overall results as well. Think about how long quality clothes and shoes last and how good you feel while wearing them. Sure, you could opt for less expensive clothes, but they might not be as comfortable or last longer than a few wears before the stitching comes undone. The same principle applies to your digital signage. Even though you might be reluctant to opt for something more expensive, doing so with respect to quality is likely to save you money in the long run, not to mention display your message in crisp, HD format.
Impulse Buys Work in Your Favor
Businesses that sell products or services should put their focus on making it quick and easy for consumers to make impulse purchases. Because it’s so easy to change out information on your display, you can target specific consumers during specific times of day. For instance, you can advertise breakfast items in the morning, snacks in the afternoon and desserts in the evening. Remember, you don’t always have to focus on more expensive items. Persuading 25 people to buy 25 $5 meals is better than successfully persuading 10 to buy 10 $10 gloves for the upcoming winter season.
This all boils down to shifting your focus and broadening your horizons. Customers don’t have to mull and agonize over spending three dollars the way they might when it comes to spending three-hundred dollars. Plan your digital signage material accordingly to maximize your ROI.
Opt for Signage Designed for Energy Efficiency and Long Life
Two other factors that determine the overall cost of digital signage are energy efficiency and how often you can use the display. You and your future energy bills are better off with displays that use as little power as possible while in standby mode and are Energy Star qualified. If you plan on using your displays on a constant basis day and night, check to see whether the sign supports around-the-clock usage. Otherwise, you might burn your way through displays and funds at a rapid rate.
Digital Signage Is More Affordable Than Ever
With the way technology is advancing in such monumental leaps and bounds seemingly every day, it only makes sense that digital signage is becoming less expensive. And it’s not just the price of signage that’s decreased, the same is true of the cost of installation. This means it’s easier for you to maximize your marketing and advertising dollars and your investment by creating a more information-based workspace for your employees so they have everything they need to be better at their jobs, which is sure to result in better employee satisfaction.
The price of digital signage is like a chorus made up of different voices and octaves. When you have the right combination and the right knowledge of how to properly blend voices, your business can’t help but sing out in financial harmony.
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Article First Appeared at https://www.digitalsignagetoday.com/blogs/the-highs-lows-of-digital-signage-costs/