Is the cost of digital signage software out of your budget? Think again.
Digital signage is becoming increasingly popular in today’s marketing and advertising landscape. Effective communication is at the forefront of many corporate, manufacturing and even real estate companies and they’re taking ideas from big B2C marketers.
You’ve seen big brands use TV screens and digital displays to showcase their brand for years. Think about New York’s Time Square or those tempting videos of Tim Horton’s latest donut creation while you’re waiting in line to order your double double. How many times have you caught yourself impulse purchasing because of how good those donuts look on that screen? Now imagine if you could do that for your business!
Average Costs of Digital Signage
You know you need to improve your communication efforts, but what’s the cost of an effective digital signage strategy? There are four main components you need to consider while you plan your digital signage strategy:
1. Software
The heart of your digital displays is the software. The software allows you to:
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Manage the content you share across your digital signage network
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Automate the information you share on which display
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Integrate content from various data sources to simplify the sharing of information across your network
When it comes to software, don’t think you have to break the bank. Your digital signage software can start as low as $15 per month or lower if you have a high volume of licenses. For a solution with templates designed for your market to promote your products or for internal office communication, you can get a value packed software license with some content automation for just $49 per month.
2. Displays/Monitors
Depending on who you’re targeting and where you’re communicating – at a mall, in your front lobby or in your staff lunch room – your display options will vary, as will your prices. For options such as kiosks, interactive monitors, video walls, and tablets, have various price points. What you need to consider is a software provider that understands the hardware market and can bring you options that fit your needs. Some hardware needs can be met with monitors or “TVs” you already have. Some installation needs may require a commercial grade monitor. Plan for some investment in hardware and ask questions. A reputable provider will offer leasing on hardware as well. Leasing digital signage hardware is a great solution for many businesses and enables you to get everything you need at one time.
3. Media Player
Based on your display/monitor, you will need a media player to send content from your software to various screens. The media player is a key component to keeping your signage live. Cost will determine the quality, performance, and security of the content you share. The media player you choose should reliably support the needs of your display devices. You have many options when it comes to media players but remember a cheap media player creates risk that your signage will fail. It is recommended that you plan for approximately $995 for the cost of a proper media player. It’s a one-time cost or in many cases can be leased monthly to help your cash flow.
4.Content strategy & content creation
This can be an in-house cost through your Marketing or Communication team, or you can outsource the development of your content strategy to experts in digital signage who understand the why, how, when, and where to communicate, and will partner with you to learn about who you’re reaching and what you need to share. The cost of a content expert can be built into your monthly plan but to give you an idea, a proper well thought out content strategy support by digital signage experts cost around $3000 and be a one-time investment, quarterly or annual depending on your needs.
The digital signage partner you choose should provide payment options when it comes to your digital signage strategy. Monthly plans can be tailored to your business needs and objectives, while easily aligning to budgets and achieving ROI, which should all be established in your overall content strategy.
Ultimately, you’ll want to be aware of those “free” software offers that turn out to be anything but free and understand the value of partnering with a digital signage software provider. Many of those free software options will require set up time and training for both you and your staff the costs will quickly add up.
Your Digital Signage Cost Breakdown
While evaluating your options, it’s important to know the numbers right out of the gate. Without this you’ll have a hard time aligning the budget to the ROI.
Some companies provide their own cost estimators so you can build your own quote with the options you’re most interested in. The ultimate goal is to find a software and hardware provider that will partner with you to understand your business goals and challenges and provide packages with pricing options that meet your needs.
Don’t let your fear of cost outweigh the benefits that digital signage will have to your business. Take a look at the possibilities of digital signage for your business.
The Benefits of Choosing a Digital Signage Partner
Choosing a digital signage partner to take care of the four components of your digital signage project means you can spend your days focused on building your business while your beautifully designed, dynamic digital displays share relevant, accurate information in real-time, attracting new customers to your brand.
Your digital signage partner should understand your business needs and support your business goals through your content strategy, by recommending the types of displays and their most effective locations, and the frequency of information shared on those screens. For example, a real estate broker may be looking to increase agent retention internally and improve brand awareness within the community. Your digital signage partner should recommend a back-office display for internal communications, front window monitors to showcase your brand, and a kiosk for your local shopping centre to showcase agents and listings to attract new customers.
