Like any expense, determining
your return on investment can be a difficult thing to do, but we believe
that Digital Signs & Digital Advertising makes a very compelling
case in helping you do just that. First and foremost, Digital
Signage
Advertising CPM is the lowest in the industry, ranging from $2 to $8
per thousand viewers. If you are not familiar
with CPM, click here to learn how to
calculate it.
Some other things to consider and calculate include:
If you currently
spend money on traditional advertising and through the use of Digital Signs
either discontinue it or do less of it, determine what you would
have paid, less the cost of your digital signage system
or advertising
Each time you change
your ad or run a new one with traditional advertising, calculate
the time it would have normally taken using other
methods before your changes or new ads are run versus running
your ads on digital signs and determine what you gained in terms
of bringing customers into your store versus informing them about your
sales, promotions and specials while they are already in your
store
Compare the costs
you would have incurred to run varying ads using traditional advertising
versus the 24-48 hour update time available to you with digital
signs
Consider the time
wasted, waiting for your ads to be published in traditional advertising
versus time spent with digital signs and calculate how many more specials
and promotions you can run year round using Digital Signs
Take into account
that Advertising with other sources targets customers by zip code
or zone and relies heavily on your potential customer seeing or
hearing your ad versus the ability to target customers in the
store, when they are interested and spending money
With traditional advertising,
you should also consider:
How many potential
customers actually open the media your ad is in?
How many of those
that do actually see YOUR ad?
How many will remember
your ad, days or weeks later when they are out shopping?
How many will continue
watching TV or listening to the radio to pick up that little detail
they missed, like your name, address or phone number?
How many will actually
drive past a competitor that's closer to their home?
How many of your
competitors end up in the same magazine or worse on the same page
and may be running a better special?
How will you know
exactly what page your ad will appear on and how may competitors
are on the pages before yours?
Some things other advertising
companies don't want you to know:
Readers and Circulation
are two entirely different things, other forms of media like magazines
will tell you that your ad will be read by say 50,000 readers,
when that actually means their magazine is circulated to say 20,000
homes, because they assume 2.5 readers per household
You can't compare the
cost of a 1/4 or 1/2 page ad to a repeating, full screen multi-media
ad
They'll tell you
that your full page, color ad, which may cost as much as 5 times
or more than digital sign ads, will get you the most attention, but it
will be seen only once, where your digital sign ads are played over
and over again, thousands of times per week or month
If you are looking
into movie theater advertising, the statistics they will use to
back up their costs are based on ticket sales, which does not
even come close to telling the truth about how many movie goers
actually showed up at the movie early to see the advertisements
Industry statistics
show that 70% of all shoppers make all or some of their purchasing
decisions while they are in the store, not at home
Consider that as
many as 50% of all consumers leave a retail store without making
a purchase because they can't get help or clarification about
a special or promotion you may have published, while they are
in your store
You can spend hundreds
or thousands of dollars on traditional advertising and still waste
a huge percentage of money on prospects who will never venture
into your store
Finally, calculate
their true CPM (Cost Per Thousand) to understand what you
are really paying per thousand viewers or readers versus digital
signage CPM
of $10 dollars or less
