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How To Determine the ROI of Digital Signage

Posted Jul 30, 2015 7:11:00 AM

ID-100101744Determining the ROI of Digital Signage involves a few moving pieces, but there are several simple ways to measure the effectiveness of your campaign. Read on for some of our best suggestions!

One way to determine whether your digital signage content is effective is to simply watch people when they are near the signage.

What do they do? How long do they watch the screen? Do they pick up a product in response, or look into anything further?

If people are spending more than a few seconds with the screen, you’ll want to make sure you have enough content to engage them.

If they’re walking away after only about 5 seconds, they may not be interested in the product/promotion or perhaps they don’t find your content engaging enough to stay for more.

Make it work: Once you’ve watched a good number of potential customers, you should be able to determine what keeps their attention and what gets them moving. You can then adjust your content to best suit your audience. If you’re mentioning a specific product or promotion, be sure to track your sales for that campaign, to get a true ROI.

Another way to determine ROI for Digital Signage is to talk to people.

Offer a coupon in exchange for responses to a short survey on their way out the door. Ask questions like: Did you notice our digital signage? Do you recall what you saw on the digital signage? Did the signage leave you with a positive/neutral/negative impression?

Make it work: Once you know whether people actually noticed your signage, if they could recall the promotion, and how they felt about the signage in general, you can make additional adjustments to your content. If they didn’t notice the signage, perhaps moving it to a more prominent or higher traffic location would suffice. If they weren’t sure what you were promoting, the content wasn’t memorable and should be changed. If they felt good about your signage, you’re going in the right direction with your campaign!

A true “marketing-style” way to determine ROI would be to create a couple different versions of the same content – what is called A/B testing.

This method will help you find out which content is more effective, allowing you to more accurately target your audience and get a better response.

Make it work: Small changes to wording or colors, or creating a season or holiday specific version of the same campaign are two ideas for A/B testing. Or, use this type of testing to figure out the best time of day to run your campaign – just play the message consistently at two different day parts, then look at your sales during those periods to determine which time is best for sales of that particular product.

Other Types of ROI

While we tend to think about ROI as dollars and cents, there’s also another type of return that’s more about impressions, feelings, and knowledge. From our own research, we’ve heard of the following ‘soft’ ROI because of our installed Digital Signage:

  • Increase in paper towel ordering when messages about hand hygiene played in employee breakrooms (Children’s Medical Center TX)
  • Referrals made via digital signage prompted 50 free colonoscopies at a medical center (Montana State University, MT)
  • Teachers indicated that students made better choices as a result of increased information provided by signage (Crim Fitness Foundation, MI)

If you’d like to learn more about the ROI of digital signage, please give us a call at 800.584.4653 or contact us here. We’d love to talk to you about how digital signage can work for your business!

(Image courtesy of Stuart Miles at FreeDigitalPhotos.net)