So, you’re thinking of investing in digital signage for your business. A wise choice. Digital signage certainly has the potential to thrust your brand into the spotlight. Chances are, if you’re considering an investment, you’re most likely familiar with the benefits of digital signage. And like any wise investor, you want to know every aspect of what you are getting into beforehand.
For that reason, we take a look at the most important facts you need to know before putting your money where your mouth is. Let’s start with the most vital fact of all, which may be the main reason most investments either fail, or never happen at all.
#1 You could be misguided
Having an inaccurate impression of anything in your mind only leads to trouble. This is especially dangerous when your hard earned money is on the line. Many digital signage investments fail due to lack of understanding or misconceptions. For instance, the idea that digital signage doesn’t need a lot of input to do the job, or the belief you can just mount it on the wall and walk away, are not true.
These ideas can portray an inaccurate image of what digital signage actually is. Thus, before you invest in digital signage, you must transform misconception into knowledge.
#2 Your audience might not care
If you’re familiar with your audience, you can already assess what will work, and what won’t. Setting up a digital display anywhere is a good idea, but the question is, will the audience care about the content? More often than not, people invest and use standard content like pricing or ads in a loop, expecting it to bring in more customers or drive sales. Likewise, more often than not, that doesn’t happen.
Content is king, know this. Thus, before investing in digital signage, you must have a clear and concise idea of what content you will and can show. This knowledge can greatly influence the direction of your investment.
#3 The technology is new, but the principle is the same
We’ve just talked about making sure you don’t take digital signage for granted, believing any content will work. However, it’s important to steer clear from the opposite end of the spectrum as well.
Digital signage may be a new technology, but it is used to achieve the same goal as static signage. Don’t be intimidated or think that it demands your entire world or business to change. Granted, it does require adaptation, but many people are afraid to invest because of this, or delay their investments for years out of fear.
Before investing in digital signage, understand that it’s merely a tool which doesn’t necessarily alter your business practices.
#4 Digital signage is more than just one screen
Let us step away from misconceptions and assumptions, and talk about something more specific. If you’re going to invest, you need to know what the cost drivers are going to be. With a breakdown of what a standard digital signage setup consists of you can look at each individual piece of the puzzle and estimate the overall cost of your digital signage investment.
- Hardware is the first thing people think about when they hear the words digital signage. People picture screens, video walls, tablets. Learn what it actually consists of and you will have a clear image of the required components.
- Software focuses on regulating your content with ease. There are many software providers out there, some of which will suit you better than others. For a start, take a look at OnSign TV’s features to understand what high quality digital signage software offers and why it’s so important in your investment.
- Installation costs aren’t usually sky high, but keep them in mind as you would be wise to have someone else do it for you; both for the sake of security and ease. Keep in mind the installation components, such as display mounts, protection for outdoors, and naturally labour.
- Content is the star of your digital signage setup, and it must be carefully constructed to appeal to the audience. The main cost here is time and effort. Content is easy to make for experienced professionals, but making the right content takes focus and thought, and quite a bit of strategy. Establish the resources you will need for this. What should it look like, who will create it, etc.
Before investing in digital signage, you must understand and connect all the dots to see what the requirements and costs of it will be.
#5 Management is vital for optimal efficiency
Your investment isn’t only going to focus on the physical aspects of digital signage. People go in thinking they are fully prepared for the costs simply because they’ve added up the numbers from equipment and software alone.
The glue between all those components is operational management, and it is often neglected; its value underestimated. It is important to maintain the content and keep it fresh, updated and functional. This includes not only scheduling content, but also making sure new systems work well together, ensuring the stability of network and a lot more. If your investment is higher, you will certainly need to hire and train employees dedicated solely to digital signage management.
Before investing in digital signage, plan how it will be managed. Should that particular aspect of digital signage fail, all the pieces will fall apart and your investment cave in.
Now you have a clearer view of what this investment will require. You should study all the requirements in more detail before going all in.
With the main benefits already familiar to you, you know digital signage can enhance your business. Now, you can be prepared for the changes which will occur as a result of your investment. If you’re ready and prepared, your investment will most definitely be an awarding one.
