Data integrations can be the difference between a successful business and one that struggles to attract customers. In this age of digital transformation, every business needs to be data-driven. The more data you have, the better your content will be able to personalize itself for your visitors’ needs. In this piece, we will explore the different aspects of digital signage dynamic with data integrations.
We’re in the era of digital transformation
The internet has changed how people live and interact with each other, as well as how businesses operate. In response, organizations are changing their business processes, information systems, and organizational structures to exploit opportunities created by digital technologies.
The goal is not only to survive but to thrive in the new world order where consumers expect instant gratification and more personalized experiences—and they’re willing to find those experiences elsewhere if you don’t deliver them yourself. It’s no longer enough just to be good at what you do; you must also use technology as a competitive advantage while keeping pace with customer expectations that keep rising higher every year (or even faster).
Every business needs to be data-driven
Data is the new oil. As a business owner, it’s your job to make sure that your team has access to the best data available so that they can run your business as efficiently and productively as possible. That means making sure that all of your systems are connected and working together smoothly, so you can generate accurate information about what’s happening within your organization at any given time.
In addition to all that, data-driven content is shaping the future of digital signage in many exciting ways. At MagicInfo Services, we go beyond the practical uses of sensor-based signage and find out-of-the-box solutions for our clients and their specific needs. We are also passionate about sharing knowledge and driving innovation in the digital signage industry.
Data analytics can surface new revenue opportunities
Data analytics can be used to identify new revenue opportunities. A retail store that integrates data analytics software can see what its customers are buying, how much they’re spending, and when they’re making purchases.
By analyzing this information with the help of a data scientist, you’ll be able to identify the products or services that will make the most money for your company. You’ll know exactly where to put your marketing efforts so that you can earn more profit without wasting resources on less-profitable items.
This is especially important in retail because consumers have so many options when they shop online or at physical stores. Data analytics helps determine which items people want most (and therefore should be featured prominently) so that sales increase faster than before. It also gives insight into what kinds of deals might attract buyers who aren’t just looking for bargains—so if you offer a special price for one type of customer but not another group within your target market base (for example, teenagers), then those promotions could pay off big time too!
Add data to your signage displays to make content engaging and dynamic
Data integrations allow you to personalize your content and make it more relevant for your visitors by using data from other sources. You can even incorporate live data from the web, social media, weather sites, and relevant news stories. This makes your content engaging for visitors because it’s personalized just for them.
If a visitor is from outside of your store’s local area (or is new in town), you could use their location information to show them local weather forecasts on their screen. This can help them decide whether they need an umbrella or rain jacket before heading out into inclement weather.
If one of your products has been featured in a recent news article about rising consumer demand for that product category—for example, if sales of luxury brand handbags have gone up recently—you could show this information on each handbag display screen so that visitors get a sense of why these items are popular right now.
Real-life examples for use of data for digital signage in retail
Throughout the years, we have helped a wide range of businesses around the world to reach new highs using dynamic digital signage. Last year, we ran a pilot with a clothing brand that has 14 branded stores and 52 shop-in-shops. We connected the database with the local onsite stock for a specific store or a shop-in-shop. This way, only content with the clothing that was physically available in the store was displayed on the signage displays. As a result, the brand noted a 12% increase in sales over time.
Furthermore, the brand’s data analysts looked into what products and sizes have been purchased during the trial run. The company used the data to optimize its restocking, so the stores received apparel based on what was sought in their area. For instance, if a branch sells more premium clothing, it will restock fewer basic items and vice versa. As a result, the brand managed to reduce its waste, improve its efficiency, and save over €150,000 in costs.
Another great example of dynamic digital signage with data is our project with a leader in premium, luxury, and sports eyewear. You can see ads for their products all around the world. So, each year the company spends a fortune on marketing activities, including shooting promotional footage for different segments. With the use of data for digital signage, the business saved countless man-hours and reduced its marketing expenses dramatically.
Allow me to explain how. In the past, the company would shoot multiple videos for different segments. Each video will then be edited for a specific market and manually add information about price per unit, currency, and any promotional offers, among other things. A lot, isn’t it?
But it can be much simpler. Now, the company shoots a few promotional videos, one for each major market. Instead of manually tailoring each video for the specific region, the brand uses a database with the information that is automatically shown on the display. And if any error occurs, it can be easily fixed, unlike in the past, when you would need to re-do the entire video.
A few years back, we worked with a fast-food restaurant chain on a project that included 3 of their London locations. The idea was to install several digital signage displays that show the menu and allow customers to place an order. During the trial period, the brand noted a significant increase in revenue at the locations.
However, it was difficult at first to determine the exact reason behind the revenue spike because they had gathered so much data. After careful examination, the brand’s data analyst noticed that the cause behind the increase in sales was the 1-pound QSR which cross-sold a combo menu to customers, many of which ended up buying it. As a result, the revenue at these locations rose.
The moral of this story is that it is important to have a team of creative and analytical people who can make the most of the latest technology, especially when it comes to the use of data for digital signage in retail. I elaborate more about the need for creative minds in a previous article, so make sure to read it, if you found this one interesting.
Back to data, it can be a powerful tool in your retail store when used correctly. It’s an opportunity to keep your business current and relevant, while also creating a more personalized experience for customers. Integrating data into your signage displays will allow you to tailor content based on visitor preferences, which will result in more engaged consumers who are less likely to leave without making a purchase.
Article by MagicInfo Services by ScreenCOM