Paid, owned or earned
Digital signage has become well-established as (a) paid, (b) owned and (c) earned media.
In the first example, digital out-of-home (DOOH) advertising has grown into a multi-billion-dollar market, from digital billboards to public transit screens. In the second scenario, dynamic POP displays have become ubiquitous in stores, quick-service restaurants (QSRs), movie theatres and other venues that are merchandising and promoting their own goods and services (see page 66). And finally, in the third context, internal communications networks have used digital signage to display curated social media messages and other repurposed content from other sources.
The more visibly digital signage is used in a wide variety of ways throughout the economy, the more comfortable organizations become with turning to it for their own purposes. Some of them are merely taking an ‘us too’ approach so as not to be outpaced by their competitors, but in many cases there is tangible value in adopting digital signage to achieve specific business results.
Digital out-of-home (DOOH) advertising has grown into a multi-billion-dollar market. Photo courtesy NanoLumens
Hot markets
While digital signage has been applied to all sorts of locations, its expansio n has been particularly robust in the food-service, retail, financial services and corporate communications markets.
Food-service
Digital signage has increased the revenue generation potential of restaurants through dayparting (whereby different items are promoted at different times), by showcasing supplementary content about events, catering and gift certificates and by accelerating the speed of ordering (e.g. with interactive kiosks).
Retail
With the rise of e-commerce, bricks-and-mortar retailers have become highly motivated to modernize their in-store experience for customers. Digital signage is helping them update promotions based on changing inventory, showcase their customer loyalty programs and exploit opportunities to upsell or cross-sell. The medium’s reach within the sector is also growing, with end-cap merchandising displays now complemented by smaller shelf-mounted video screens.
Financial services
In the past, digital signage was installed in banks to help reduce perceived wait times, but in today’s era of online and mobile banking, it is being better-used to profile investment services for existing customers, generate inquiries about insurance and other supplementary businesses and reach younger demographics.
Corporate communications
The use of digital signage for corporate communications is seeing high growth as employers seek to increase employee productivity, align messaging with corporate culture and reduce turnover. Taking lessons from marketing, they are using their brands and stories to inspire their target audience.
