Tag Archives: economy
Many businesses are sitting on the fence about digital signage. Some don’t seem to see the point, while others claim it’s too expensive. The one thing that remains clear is that digital signage is not going away, and there are countless reasons why. Before your dismiss digital signage, consider the potential return on your investment
Say goodbye to printing fees.
First, consider the limitations of traditional media. Printing signage takes time, and if supply or prices change, costly reprinting fees are often impossible to avoid. Flyers are costly, and it’s almost impossible to track how well they perform. These problems limit most small business owners in the ways they communicate with their customers. Digital menu boards, on the other hand, are sleek and agile. They lend necessary marketing tools to small business: The backbone of our economy.
We can all agree that the economy looks bad. Unemployment is up, and profits for many companies are thinning out or disappearing altogether. It’s depressing out there. Some business owners will simply resign themselves to their fate, and hope the economy begins to pick up. But there are things business owners can do to drum up their own business. Instead of standing idly by while these intense economic waves crash against their life’s work, these owners take action to boost their sales and increase their brand awareness. Digital signage can be an innovative and eye-catching way to do just that. Countless businesses of all sizes are investing in the technology for use in their brick and mortar locations. Digital signage works. And luckily, it doesn’t have to break the bank.
For most businesses, it’s a sink or swim economy out there, and swimming means keeping up with ever-changing consumer expectations.
There is a famous story about Coca-Cola and Moxie Cola that illustrates this point. Most people haven’t heard of Moxie Cola, and there’s a reason why. Before the Great Depression, both beverage companies were fierce rivals, but when the stock market crashed in 1929 and times were tight, Moxie decided to cut their advertising program in favor of purchasing sugar for their product. Coca-Cola did exactly the opposite, bolstering their advertising campaign instead. It was a risky move, but look at Coca-Cola now. Moxie didn’t go under, they’re still around today, but they are nowhere near the global powerhouse Coca-Cola has become.
Small business is important to the economy. Nearly 60 percent of the private workforce is employed by small business, and they are responsible for 39 percent of the U.S. gross domestic product, according to the U.S. Department of Commerce.
Economic uncertainty and low sales plague small businesses throughout the country. Many customers feel more comfortable with larger retail chains and big-box stores. With looming giants like Amazon and Walmart, small businesses have been struggling. But certain advancements in technology may shift the way consumers view small business. Digital signage, though still relatively new, is a formidable weapon in the hands of small business owners. The growth of digital signage may even accelerate small business growth in 2013 because digital signage acts as an equalizer of sorts. It places sleek, professional marketing back into the hands of business owners at a fraction of the cost of traditional marketing.
As the use of digital signage increases, it is becoming more and more apparent that digital signs are not going anywhere. They are becoming an essential part of retail businesses everywhere. IMS Research has predicted that global growth in digital signage could exceed 40% in 2013. This growth stems from the proven ability of the technology to bring in customers.
Small business has much to gain in this arena, but they’re not the only ones cashing in on the advantages of this new technology. Major players like Walmart, Burger King and Costco have been investing in signage for their own locations. Burger King’s menu boards are especially impressive. Support of the technology from these heavy hitters brings legitimacy to this nascent technology in a big way.