Boosting and Personalizing the In-Store Experience

By CIOReview | Thursday, July 19, 2018
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With over 40 percent of all the commercial display panels installed in the retail segment, be it indoor or outdoor displays, video walls, or stretched panels, digital signage has established its effectiveness in retail applications, presenting enhanced and endless performance opportunities and cost benefits. In contrast with static analog installations, these provide numerous advantages and better return on investment (ROI) in the long run. These integrated solutions enable retailers to leverage signage for data-driven and real-time personalized promotion, branding, and awareness strategies. Hence, to succeed in this technology-driven industry, retailers need to integrate analytics in order to personalize and optimize the marketing data.

Analytics also enables retailers to gain more flexibility and agility. For instance, with a holistic approach to their digital signage solution and incorporating it into their retail IT systems, retailers can monitor, track, and even adjust their campaigns across different stores from a single centralized location. Digital signage also has the ability to improve customer experience by providing them with entertainment and crucial information. For example, by placing digital signage close to checkout lanes, retailers can make the waiting shorter for the customers. However, to ensure that it works for their business, retailers should carefully analyze data and tailor information accordingly to suit the unique needs of their clients. Digital displays are also highly effective in driving a business’ sales. Recent research shows that products advertised through digital signs exhibit a 49 percent increase in their sales than the products marketed on static displays, which get only a 15 percent increase.

For years, online retailers have had an additional edge over in-store retailers because of their ability to track every action of a consumer while shopping and then use that information to provide personalized recommendations or suggestions. But now, with the advent of technology, these opportunities are slowly spreading over to in-stores. AI, predictive analytics and more are enabling brick and mortar stores to access customer information and use the data to provide personalized welcome messages and customized discounts to clients, which are displayed on the signage, thereby developing the business as well as enhancing customer experience.

tag

Analytics

Digital

ROI

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