Why Digital Signage Is The Next Big Revenue Driver
Digital Signage and Your Revenue
A report by Reserachmoz forecasted the direction of Quick Service industry, and detailed key findings. Taking a look at predictions and trends in the industry for the upcoming years, Reserachmoz expects to see a heavy investment in software based solutions as well as an introduction of new hardware to drive sales and support growth.
A key finding from the report: “Digital signage is expected to be the largest revenue contributor in the hardware segment owing to high initial cost as compared to other hardware and increasing usage in signage system and drive through terminal segment.”
What is driving this adoption?
First is the customer. Digital signage is part of a customer engagement strategy and crucial for a successful omni-channel experience.
Secondly is cost and control. The cost of updating traditional menus, both in price and time, can add up. Investment in digital signage technology has become much more reasonably priced and more accessible. WireSpring has been tracking the price and reports that over the last three years, the price has been cut in half. And owners are looking to control their business in real-time. By digitizing your signage, you can project your menu and change it on the spot all while maintaining brand consistency across your locations and channels.
By providing an immersive in-store experience for your customer, your business will see a significant return. So how exactly can digital signage benefit you?
1. Reduce Waiting Time
Digital signage reduces wait times at checkout by as much as 35%, as reported by Digital Signage Today. This optimizes your current wait time by allowing customers to decide what they want before they reach the Point of Sale, resulting in faster lines and operational efficiency.
2. Influence Purchase Decisions
According to the Design School website, most food industry psychological researchers (yes, they really exist!) have determined that when people view a menu, their eyes first gravitate to the upper right hand corner. It’s here that you’ll likely find either higher-priced items or items they’d like to sell more of. The same precise calculations used in preparing menus transfer directly to Digital Menu Boards, with one huge difference. Content can literally be changed at any moment.
3. Increase Sales
According to a Nielsen Consumer Survey, stores using digital signage experienced up to 33% in additional sales. Your digital signage is a marketing canvas, meaning you can advertise promotions and encourage impulse buying with timely, and vibrant promotions. Shoppers are simply noticing more of your offerings, and buying them. And as signage software evolves it will only play a bigger role in your sales; recalling the Reserachmoz report, the researchers found, “digital signage is expected to be the largest revenue contributor in the hardware segment.”
4. Enhance Brand Awareness
Vibrant visual signage captures your customers attention. And at what rate? Research states that digital signage captures 400% more views than static signs. Video has been proven to draw more attention and help consumers retain the information for longer, ultimately making the business more recognizable.
5. Customer Retention
Digital signage allows for an interactive and more personalized experience for the consumer. Strengthening your relationship with your customers involves providing a consistent, seamless, and attractive experience. Reduce frustration and confusion at the Point of Sale, and help customers order easier and keep them entertained with attractive displays.
Revel Systems provides the easiest path to Digital Menu Board ownership, activation, and full utilization. Our cloud-based Digital Menu Boards use dazzling Samsung Smart HDTVs in sizes ranging from 42 inches to 65 inches and our digital signage software interacts directly with your iPad POS System for centralized management and the ability to make changes in real-time.