With the rise of dazzling visual technology in retail, consumers have become more technology-oriented as well as their shopping intent and habits have changed radically in most cases.
Nowadays, when shoppers think of a new purchase or look for the best deal, digital content reigns supreme as the primary trusted source. Shoppers of this era trust and rely on digital sources more than the traditional information sources.
Digital content influences us in a variety of ways, including where we choose to shop and what we plan to purchase. Progressive merchants are steadily adapting to newer market strategies and informational channels for most effective ways to communicate with their customers.
One of the recent developments in this regard, has been the explosive growth of digital signage as an impactful and cost-effective communication medium. It offers an interactive gateway for businesses to create environments where customers feel in control of their product selection and purchase process. The digital content on this medium has proven to be significantly effective to communicate directly with customers and engage them while they are in the store.
Businesses have started noticing a substantial impact on purchase behavior and an increase in their overall sales volume.
Let’s take a look at some of the additional benefits of digital signage has to offer:
- Attention-Grabbing Displays
Digital signage is considered to be the most customized form of informing and promoting to a target market. Market research has shown that visual communication has one of the highest probabilities of the message being received and processed by its target audience.
This digital interface is much helpful for merchants to influence customer behavior efficiently by creating surveillance displays and showcasing brands or services that eventually drives sales and increase profit margins.
- Dynamic and Contextual Content Updates
Digital signage is straightforward and easy-to-manage as well as can be modified immediately.
It allows you to create targeted environments and incorporate vivid graphics to grab attention. Signage via digital channels can be updated frequently as compared to traditional signage. Frequent updates keep the communication medium fresh, engaging and relevant to its audience.
This can be quite effective in various situations. For example, catering to increased shopping activity during the holiday shopping season could allow the merchant to niche target audiences with various promotional campaigns. Digital signage can be used to promote early morning doorbuster sales, mid-day promotions of new products and weekend or evening flash sales for a few hours.
Additionally, implementing a digital signage solution with AI allows for creative estimation of fast moving items, items purchased together etc. and can lead to interesting co-promotion strategies that can be spun off quickly for market tests.
Also, these AI-embedded digital channels help in identifying items that see a sudden drop in sales. This information can be leveraged to showcase and promote such items to attract in-store customers and thereby increasing business sales and boost in profits.
Digital signage not only works for informing and promoting to the customer base but can also provide an additional revenue stream for enterprising business owners.
Once this system is installed, retailers can get additional revenue by selling ad space to brands that work as complements to the store’s operations.
These co-promoted brands ultimately promote the status of specific brands, suppliers, or services that are primarily intended to increase brand awareness and expand their numbers in stores, target markets, or sale areas.
In addition, using digital messaging methods, you can make your information available in different locations that will reduce the cost of traditional promotions and save money on printing, distribution, and waste materials.
- Boosts Business Sales
Digital signage serves as one of the most important tools to convey the necessary messages, in-store specials, promotions and ads directly to patrons, especially at a critical time when a customer is at the point of purchase.
One of the recent study indicates that Digital Signage technology has shown to increase retail sales by 31.8%.
It serves as a means of an automated motivational tool to push the buyers to complete the transaction. Buyer inhibitions are reduced by showcasing customized and relevant information about most sold items, important features, and other specials.
- Expands In-Store Social Media Presence
Social media has proven to have one of the most significant impacts on the marketplace. There are some synergistic gains achieved by combining social media strategies along with Digital signage.
We are well aware that social media platforms can increase your brand awareness, create new customers, drive repeat business, and address customer satisfaction issues. In this regard, displaying social media on digital signage can greatly enhance the screen content trustworthiness. It helps drive additional information directly to customers which is difficult to achieve without the added benefits of social messaging. Such strategies are showing excellent results in generating additional sales revenue, recruiting new people to loyalty programs, and even display digital endorsements from Facebook, Twitter, Yelp and other media.