How will you be able to make money from advertising sales?

 

Having a retail location puts you in an ideal position to earn advertising fees from other complimentary or non competitive businesses in your area who don't have footfall into their business.

With your customers coming through your shop and local people passing by your shop every day, digital signage becomes a very attractive proposition to local advertisers as they can reach their target audience while they are out and about in Town.

 

Why would an advertiser choose to use my digital signage over what they do now in newspapers or local websites?

 

Digital signage receives 10 times more eye contact than static signage and 70% of people have an unaided recall of what the digital signage content was. Digital signage has proven time and again to deliver on average, a 55% uplift in sales when used in a retail environment

And perhaps the more compelling answer is that static advertising is expensive, outdated and has limited appeal in the digital age.

 

Screen time is profit so the more ads you sell, the more money you make

 

Whilst the digital signage system is first and foremost to enhance your own business by informing and educating your customers, you need to balance your own objectives and screen time with screen time given to making money from advertising.

A typical business will split 60/40 own business needs with advertising sales, but this is entirely your choice.

The golden rule is that an advert should display on your screen no longer than 25 seconds. This helps maintain customer attention and interest. Y should also have an advertising loop lasting no more than 3 minutes. This will ensure the greatest possibility that advertisers are seen by your customers and it keeps the message fresh to everyone passing by or inside your premises.

 

So how many advertising slots should I have for sale?

Using an average of 8 hours per day, 6 days per week on a 60/40 basis, you would have around 460 slots per day to sell. If you have an outward facing screen then you could run this 14 hours per day and give you 800 slots for sale per day. Depending upon your location, you might have a different advertiser list for evenings and weekends than you have for normal business hours.

 

How much can you make per 25 second advertising slot?

 

This will very much depend on location and the type of retailer you are. Heavy footfall areas will naturally attract higher prices but so can retailers who have  a specific customer base. 

Remember, you are competing against the traditional advertising platforms of newspapers and local websites but also remember that you are offering a platform that these cannot match.

Check-out the advertising rates for local newspapers and specialist magazines and publications that are local to your area. This will also give you a list of businesses who are currently advertising locally. If you can offer large discounts on their current rates as an introductory offer, you are more likely to attract your new paying advertisers. Consider offering rates for daytimes-weekends, weekly or monthly display deals.

With just 10 advertisers paying just £10 per week for 270 advertising slots (thats less than 4p per advert) you can generate over £5,000 of new profits every year. If you have different advertisers for weekends-nights, you could easily double that profit.

 

Swap advertising time with other retailers in your community

Encourage other local independent retailers to adopt digital signage, this will not only enhance your retail community, it could also be used to swap advertising with other retailers on a like for like basis. This allows your business to appear in other community businesses and as you would be swapping adverts, it would have no cost! So not only would you be making new profits, you would also be reducing your own advertising spend whilst gaining new customers from other retailers. That is very much worth considering.

 

 

 

 

What about customer engagement for dynamic signage or user interaction?

As a retailer, you will be aware in the advances in customer engagement using technologies such as smart phones, NFC and iBeacons. Many businesses are also offering free wifi as part of their normal business.

The raspberry pi that is running your digital signage system can also run any of these new technologies at the same time. This adds even greater value to your £50 digital signage system and offers far greater potential for future applications. We can of course add these features to your system for you should you wish using the same low cost hourly rate!