The business world gets competitive every day. Many retail stores owners are looking for effective ways and methods to stand out from the crowd. Research shows that 76% of consumers enter stores they have never visited before simply because of the signage. It is essential for business owners to realize why digital signage is important for their stores to use digital signage to their advantage.
What Are the Common Challenges to Face When Using Digital Signage Display in Retail?
Before diving deeper into digital signage, let’s start by talking about the common challenges that business owners face. As the digital world expands, entrepreneurs face the following problems and struggle to stand out from the competition:
Keeping their brand relevant:
Every owner wants to impress and connect with their customers. As technological innovations evolve, business owners must adapt to the ever-changing industry trend and make the best impressions for their customers.
The ever-changing consumer shopping behavior:
The world is changing rapidly, so is people’s shopping behavior. It is essential for business owners to create their business strategies to adapt to modern customers’ trends.
The complexity of data analysis:
It is not possible to run a business without understanding the customers. Business owners need to consider elements, such as the target audience, audience’s pain points, and factors affecting them to make purchases.
8 Important Benefits of Digital Signage Display in Retail Business
Many business owners find it challenging to adapt to marketing channels with scalable solutions. Fortunately, they can adapt to digital signage with ease. Once business owners launch digital signage in their brick-and-mortar stores, they can also take advantage of various benefits of digital signage and maximize their ROI.
Here are 8 reasons why digital signage is important:
1. Increased Brand Awareness
Digital signage displays can serve as promotional media to drive traffic and boosts brand awareness. For example, here are the following things you can consider to show on your digital signage to raise brand awareness and credibility:
Brand message, values, beliefs, and aspiration
Promotional content with your brand colors
Educate customers about your brand history
Recent meaningful involvements
Achievements and success stories
You can have digital signage running at the store entrance, the window displays, the waiting rooms, or throughout your store. This way, your existing and potential customers will be able to connect with your brand, and hence, raise their awareness of your brand.
2. Retail-tainment
Retail digital signage entertains- it’s a source of fun for clients, making your retail environment interactive. Digital signage, unlike traditional printed signs, can display your content with animation and interactive elements. On top of that, with 4K ultra-HD or high graphic resolution capability, digital signage will catch the attention of passers-by and attract them to pay a visit to your store.
You can also have digital signage installed near the check-out areas to promote your high-margin products, increase customer engagement, and reduce their perceived waiting time while they wait in line.
Moreover, digital signage entertains the customer shopping experience.
3. Maximize ROI With the Right Timing
Digital signage delivers dynamic content at the right place at the right time. We all that time is money, and opportunity is hard to come by. With the right digital signage software, you can make any content update to your digital signs anytime. The changes you made will happen within a few minutes. This way, you will cut down the cost and time required when replacing a static printing sign. You can create new marketing campaigns based on real-time data and have the campaigns up and running within no time. By doing this, you can capture all the opportunities and maximize your ROI by promoting the right product at the right time.
4. Boosts Sales With Upsell and Cross-Sell
Points of sales digital displays in your shop offer incredible touch-points for upselling and cross-selling products. The displayed content can promote your best-selling items or seasonal products to motivate the shoppers to make purchases. This impulse purchasing behavior will help you raise the overall sales.
5. Guide Customers to Where You Want Them to Be
By adding wayfinding elements to your digital signage, you can guide your customers to where you want them to be. You can direct them to any special in-store promotions, events, or different departments. This way, your customers can take advantage of your special offerings without asking for help from the staff.
6. Combine Physical and Online Store Experience
Digital signage can help you integrate online and physical stores. Moreover, it incorporates the information to show online activities, enabling clients to systemize the products and respond to your store peaks. You could also pull in the latest posts from social media and include them on digital signage, making the store more parallel and likable to clients.
Most clients have the “get it now” mentality and will get frustrated easily when they wait in long queues. They might even exit your store without buying anything. To avoid this, you can install modern point-of-purchase digital displays (instead of adding more employees). These are simple-to-use and will help serve your buyers faster.
7. Efficient Internal Communications
You can foster better internal communications with dynamic digital signage systems. By displaying up-to-date information through digital signage, you can keep your employees in the loop and help them make informed decisions based on accurate information. You can also link your digital signage to an emergency alert system, so you can notify everyone when a situation arises.
8. Vendor Advertisement Space
You can generate revenue by converting the flat-screen advertising display into a business platform. Whether it’s a video wall or simple TV displays, you can then sell the space to other vendors such as convenience stores, grocers, and car dealerships. That allows more vendors to partner with you to gain exposure to potential customers and increase sales.
The Psychology Behind Retail Consumer Behavior
Psychology and consumer behavior are what many successful brands use to appeal to their clients. Strategizing your retail shop requires studying what gives your customers pleasure and what they seek to avoid. As such, you need to understand what goes behind in the minds of your clients.
Here’s what you should know:
Retail consumer decisions and choices:
Consumer choices of businesses, products, and services depend mostly on need, motivation, and desire.
Thought process:
Research shows that the emotional response to an ad influences the consumer’s buying decision more than the intent. Hence, if the advert techniques (message, execution, and visual appeal) move a customer, they might end up buying it even with no real intention.
Environmental variables:
Different variables, including communities, cultures, and media, can shape consumer psychology.
Demographic variables:
Demographics such as cultural backgrounds, age brackets, individual differences, and biases are an essential part of consumer psychology that affect buying decisions.
Motivation:
Brand loyalty and a positive customer experience are motivational aspects that could lead a client to buy once or repeatedly from a specific brand.
Price Point Psychology:
A price tag of $9.98 or even $9.99 creates an illusion in the buyer’s mind that the price is “lower” than $10. This price psychology can prompt the consumer into buying the product without much thought.
Marketing tactics:
Coupons, sales offerings, discounts, and loyalty rewards can mold consumer behavior.
How To Integrate Consumer Psychology and Digital Signage to Boost Your Retail Sales
You can integrate the psychology of consumers and digital signage to strategize your brand’s personality and advertising techniques. Here’s how:
1. Bring and Advertise Novelty
There’s an appeal to freshly introduced or novel products in the market. That doesn’t mean that you should launch new products weekly. Typically, successful brands toy with the neurological wiring of consumers who are appealed to hear a specific product is “the newest.” That doesn’t necessarily mean the “new” product is different from earlier versions; it’s just a way of exploiting consumer psychology. Retailers can also use digital signages to appeal to human emotions via exciting visual aesthetics.
2. Create Urgency
In today’s ultra-fast luxurious world, digital screens can be the best channels to communicate to your prospective clients. You can use digital signage solutions to invoke urgency by advertising a deal, product, or offer. Typically, consumers don’t like missing out on something good, and you can use that psychology to release your best annual sales. For instance, you can use urgent language life “only 30 in stock for the first 30 customers” or “limited edition.”
3. Social Proof and Community
According to consumer psychology, people look at what others say about a business, product, or service before deciding to try it. So, use digital signage to showcase your social media presence and reviews. You can run user-generated content from your website, Twitter, Facebook, and Instagram platforms and feature them on the signs within your retail store.
4. Retail Storytelling
Telling a story hooks shoppers and is an ideal way of engaging them to the point of purchase. So, tap into the consumer emotions and aspirations by using digital signage to tell a story creatively. For example, you can install digital signs to show content that informs who thought of the product, how they made it, and who it is for. You could even display the before- and after-experience.
How to Maximize Dwell Time With Digital Signage in Retail Stores
As discussed, digital signage is one of the most powerful tools but competitive forms of adverting. Unfortunately, digital signage analytics experts have found that it takes 1.5-4.6 seconds to pay full attention to the displayed content. That means you don’t have long to capture your client’s attention. Hence, you should find ways to increase your digital signage dwell.
Dwell time is how long a person will glance at your ad displayed on the screen.
Here are ways you can maximize dwell time using digital signage in your retail business:
1. Screen Location
You should strategically install the digital signage screen- somewhere your potential customers can spot it easily. Preferably, don’t place them at a high position where the customers have to tilt their heads up to look at it. Typically, many buyers focus on what they’re buying and will rarely look up. But if the screen is at eye level, it will capture their attention as it will just require them to turn their eyes to the sign.
You should avoid placing the screens at the entrance or exit points. That’s because customers are often in a hurry at these two points and might miss your sign. Also, don’t place items in the screen’s path that may obscure the vision.
2. Appealing Content
Appealing and interesting content can increase retail dwell time. You can use eye-catching images, videos, and designs to instantly catch the client’s attention. Also, ensure your sign contains relevant content connected to your customers’ interests. The content should be accurate and informative.
Use content that’s entertaining to get more clients to view it. For example, you can create a short video capturing a funny disaster followed by how the advertised product provided a solution to the problem.
3. Valuable And Relevant Content
Always keep in mind that you’re competing for the buyer’s attention against their smartphones, social media accounts, and conversations. So, you should offer valuable information that requires more than just a casual glance from them. Your digital signage should provide audience information, offers, and discount codes they cannot get anywhere else.
People like exclusivity as it makes them feel valued and unique. So, your digital signage should also reflect your buyers’ priorities and needs. When customers like what they see, they’ll likely stick around and keep coming back for more.
4. Add Call-To-Action
The main reason for digital signage is to boost sales. Buyers tend to purchase a product that’s well-advertised and intriguing even if they hadn’t planned to. So, to compel customers to make unplanned purchases, you should include a call-to-action in your signage. For example, a short, simple, and easy-to-understand CTA will prompt immediate action such as purchases, visiting a website, or taking a short survey.
5. Personalization
Personalized experiences can make buyers linger more in retail shops. You can do this by introducing touch screens for menu boards, directories, or donor boards at strategic points in the store. As such, these points can become the first place the shoppers go to once they enter your store.
The information on the touchscreen should be informative, easy-to-understand, and interactive. That allows the users to navigate through unassisted. It also enables them to choose what’s most suitable and preferable and spend more time in the retail store’s digital signage.
On a Final Note
Digital signage is an excellent way of getting an all-year growth for your business. It can enable you to engage with your customers better and improve sales. It will also help you unlock your retail shop potentials and achieve great heights. If you have any lingering reservations about why digital signage is important, the above points have your best solution.
You can learn more about NexSigns’ Digital Signage solution and connect with us on Facebook, LinkedIn, Twitter, and YouTube to get the latest info on digital signage!
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