7 Industries Being Taken Over by Digital Signage
The digital signage market is set to be worth over $20 billion by 2020. But which industries specifically are seeing the biggest impact?
According to research by EmbedSignage, the digital signage industry has been transforming the world, with several industries benefiting from the technology. In a blog post on the company’s website, the team at EmbedSignage explored what industries have seen the biggest transformation courtesy of digital signage.
Whether it’s through increased operation efficiency or generating a return on investment, EmbedSignage believes that digital signage can benefit businesses all over the world. With an industry that is predicted to hit in excess of $20 billion by 2020, digital signage is now recognized as a necessity in many aspects of business.
Research also suggests that digital signage has a recall rate higher than any other form of traditional media, with 83 percent of people recalling at least one ad seen on a digital billboard in the past 30 days. By looking at a few different industries where digital signage can be implemented, EmbedSignage highlighted some of the places that could benefit.
Why digital signage? Watch a quick video or read on below.
Internal communications are key to keeping the company up to date with the latest news and announcements. Corporate messaging, room booking, emergency information and the latest figures can be instantly displayed across the network of digital signage screens.
Digital displays supposedly capture 400 percent more views than static displays, according to research from Intel.
Implementing digital menu boards along with allergy information boards can not only create a more aesthetically pleasing and efficient way of displaying the menu content, but digital menu boards typically present up to a five percent sales lift, suggests research from Eclipse Digital Media.
74 percent of customers also claim that an easy-to-read menu is their top priority, EmbedSignage believes that digital signage gives the option to experiment with different menu sizing and content design without the need to get it reprinted, which could potentially save time and money.
A report from Fedex Office suggests that eight out of ten customers have entered a store because of a sign catching their interest. One retailer noted a 24 percent increase in footfall after implementing digital signage technologies.
Research from Digital Signage Today claims that 80 percent of brands experienced a significant increase of up to 33 percent in additional sales through the use of digital signage, with an appeal more towards hedonic products rather than planned purchases.
Digital signage has also been linked with a reduction in perceived wait times at checkout by as much as 35 percent.
Schools now have the ability to display announcements, timetables, emergency information and even digital menus using digital signage, allowing for fast and legible information to be delivered in real time.
Digital signage also offers a scalable structure meaning no matter how many screens the school has, it can push your data to a few or all screens with a click.
Up-to-date information to keep customers and staff informed with the latest financial information, news and offers whilst promoting the brand image could be vital, as studies suggest that 90 percent of customers are acquired in bank branches.
This is backed up by another study which claims that nearly 7 in 10 customers have actually purchased a product or service because a sign caught their eye.
Keeping patients informed and/or distracted can improve the overall healthcare experience. For example, EmbedSignage believes that a queue management system alongside the latest news could help lower anxiety and physiologically reduce waiting times.
“Unexplained waits feel longer than explained waits,” claims David Maister, psychologist of queuing.
Digital Out Of Home (DOOH) Advertising
According to a post by Exterion Media, digital signage accounts for around 22 percent of the outdoor market’s annual sales and by 2020 that proportion is expected to rise to 35 percent. With one in every three dollars spent of OOH advertising expected to go to digital OOH in 2015, digital signage is having a major impact on the way advertisers engage with their audience.
From the advertising network operator’s point of view, using Digital Signage for outdoor advertising can be a highly profitable venture.
By choosing to advertise using digital signage over static signage, the advertising network’s monthly revenue has the potential to increase by a significant 800 percent according to MRI.There is also the suggestion that switching from static signage to interactive/touchscreen advertising, ad sales can increase by 1200 percent.
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