Evaluating a Digital Signage Investment for Retailers

Today’s forward thinking retailers have a lot of new options. Digital displays are available in many forms – how do you figure out what strategy is right for your firm?

Look around us, digital displays are everywhere. You see them at restaurants, gas stations, airports, malls, hotels and casinos, and in retail stores.  iPads are used as menus and for in-store entertainment for kids at chains like Buffalo Wild Wings. Gas stations are trying to lure captive audiences into the convenient store where they make the majority of their profits with discounts and promotions. Airports have technology like facial recognition, the ability to use QR codes and maps. Hotels like the Cosmopolitan can change to mood of their lobby with music and visuals on monumental technology. And retail shops like Neiman Marcus are using magic mirrors to help consumers shop, compare and share their options and purchases. Some stores are even employing robots to work with digital signage and optimize the customer experience. It’s a whole new world.

With taptl, you can integrate our customized transparent touch screen as part of your store front or use it to divide store sections. There are many benefits to investing in this technology. It helps distract shoppers from showrooming on their mobile device, by providing them with options to easily get information and pricing.  By using facial recognition, you can change the signage for different audiences – a teenage boy does not see the same messaging as a senior citizen, for example, or hear the same music.

You can also combat fatigue from seeing the same signage and becoming immune and even negatively influenced by it. Instead, you can program various messages, colors and content to rotate frequently to keep consumers attention.

First, we recommend you subscribe to a good analyst firm and keep up with the latest research and industry technology trends. Then, you will have to find a vendor partner who can offer services in hard systems integration and content services.  Your team will need an IT specialist to oversee the network, hardware, content and interactivity.

Next, meet with your team to determine and fine-tune your goals. Do you want to increase foot traffic? Sales? Free up your staff? Keep the attention of your customers? Perhaps you want to reduce “showrooming,” meaning that customers are searching prices of your items while in your store. Whatever you are focusing on, there are a number of ways to tackle it.

You will need to focus on several things in your long-term strategy. Think about the customer’s journey in your environment and how you can facilitate the 6 stages:

Discover

Explore

Buy

Use

Ask

Engage

As you plan for the possibility of adding digital signage, remember that your retail team will need training as well. These installations are not yet foolproof. As with any new technology there are bound to be glitches and setbacks, but that does not mean it will not produce noticeable ROI. It is worth continuing to education yourself and your team to see how digital signage can increase your bottom line.