4 Ways To Monetize Your Store's Digital Signage

1. Endearing collaborations

Digital signage allows you to sell your own products and services, as well as using the power of mesmerizing screen content to sell for you. While you don’t want to bombard your customers with ads, you can use relevant collaborations and partnership opportunities to bring in additional revenue. For example, if you’re a community centre or church, you can use your digital screens to show events being held, classes visitors can take and local services that they might need - from lawyers, to business consultants to a new hairdresser. This allows you to make a small profit from the businesses advertising, while genuinely showcasing content that provides beneficial information to your audience. 

To ensure you don’t go over to the dark side of advertising bombardment always sense-check your content for its advertorial edge. Advertorials (usually seen in print) are advertising messages that are produced in a more creative way, often mimicking a piece of editorial by using research, data, storytelling or customer feedback. This makes them much more interesting to read (and watch) as they often don’t appear to be outwardly selling (even when they are).

2. Interactive selling boards

Monetization can often be achieved based on the jobs your screens do every day. For example, screens positioned outside meeting rooms or buildings can be used to allow passers-by to book meeting space. Lunchroom digital menu boards can allow users to pre-book their lunch ready to order. Both of these examples make the process of booking or buying something easier. They also benefit the participant, giving them an easy way to access what they need without having to stand in a queue, log on or even leave the building. And what happens when things are easier to buy? People are more inclined to want them.

3. Promotion and timely offers

Proximity-marketing is a growing trend, pulling together digital screens and mobile marketing where offers and information can be transmitted to the mobile phones of those passing by a store. The key to effectively using this in a way which raises revenue is to submit timely offers that are truly relevant to the audience.

Using MySign playlist and scheduling feature, many business owners are considering their customer personas and what messaging will be relevant to them and when. Switching between child-friendly snacks and adult-only beer at appropriate times. Selecting useful wayfinding displays for times when shoppers are in a rush and long, leisurely entertainment for when they have more time to stroll.

The more relevant and timelier the offer, the more likely the customer is to buy, raising revenue as a result.

4. Using screens to reduce overheads

We’re still a way off of technology replacing human jobs, but screens are becoming a key tool in the business ecosystem, used for a variety of jobs outside of just looking pretty. In many modern hospitals and healthcare facilities, screens are used to allow patients to check in, view appointments, find where they need to go and locate their loved ones. All jobs that traditionally, would have been managed by an employed member of staff. In other hospitals, screens are even being used as a distraction tool to reduce patient stress and perception of pain, therefore not only improving the patient experience but also resulting in quicker and more cost-effective treatment times.

In restaurants and coffee shops, digital screens can be used to place orders, prompt customers for a refill and allow feedback. Letting the customer sit back and relax, ordering what they need through an interface which feels natural, without having to leave their seat or queue up. Where usually each of these jobs would be done by a member of staff, business owners can save on overheads by making their digital screens work harder.

In-store digital signage is changing the way we shop, think and buy. Those looking to harness it are at the peak of opportunity, not only to digitalize their stores but to also monetize their offering and help customers get to what they need faster. At MySign we’re making it really easy to create beautiful digital screen content that raises revenue and the real estate of your business.