Tuesday, June 30, 2009

Digital Signage At The Ballpark

One of my favorite summertime activities is attending a Cleveland Indians baseball game at Progressive Field. There I have a few hot dogs, some peanuts, a couple cold drinks, and teach my daughter the game of baseball.

Last night at the game, sadly another Tribe loss, something else came to my attention, "Digital Signage" is everywhere. Whether people know what this new medium is called or even understand the intricacies involved in its power, people are seeing the by-product of digital signage in their everyday lives. Everywhere I looked, there was Digital Signage. The Jumbotron on the huge scoreboard had players up-to-date stats, their hobbies, and other interesting personal facts. Trivia questions from the 1980's were being thrown at us between every inning, small children and even adults were shown dancing to stadium played music as they saw their faces on the large screen...even the Quicken Loans Arena across the street was using a huge Outdoor Digital Sign to promote upcoming concerts, including my daughters favorites, The Jonas Brothers and Miley Cyrus.

How To Increase Profit Using Digital Signage

Everyone, including me in the education field is looking for ways to generate new monies, fund projects, make improvements, improve sales, and increase stakeholder satisfaction.

The effectiveness of Digital Signage has helped spur tremendous growth in many sectors, especially in the area of increasing profits. A recent study conducted by InfoTrends, found the following statistics with regards to Digital Signage Displays:
  • Effectiveness on brand awareness: +47.7%

  • Increase of the average purchase amount: +29.5%

  • Upswing in overall sales volumes: +31.8%

  • Growth in repeat buyers: +32.8%
  • Increase in-store traffic: +32.8%

The data demonstrates how effective Digital Signage can be in increasing profits, but what it doesn't measure is the increase in customer loyalty and the ability to up-sell and cross-sell existing customers.

Monday, June 29, 2009

The Digital Signage Market

The Digital Signage Market is exploding!

The digital signage market is exploding and will more than double in size over the next few years, according to a new report from ABI Research.

With a current market of over $800 million dollars, digital signage has proven its effectiveness as a marketing channel. It is also one of the fastest growing marketing channels, with a projected market for digital signage worth $3.5 billion by year 2011. According to a recent study published by ABI ResearchTotal, revenue from the digital signage market in the United States – including hardware, software, installation, and maintenance — is expected to grow by about 33% in 2009.

A recent report on digital signage sales shows that signage advertisers are selling anywhere from one display per site to as many as 50 displays per site. The also reported an average sale of four digital displays per site.

China has taken full advantage of the opportunities that the marketing channel Digital Signage presents. They currently lead the world in the number of digital signage displays displayed.

As a result of the economic slowdown in the United States and other markets that impact retailer and advertising spending on new initiatives will look different over the next 12-24 months. As a result of the Digital Signage explosive potential, retailers and advertisers are using this marketing channel to reach the consumer in ways never seen and used before.