In a world where every marketing campaign is scrutinized for its impact on the bottom line, the effectiveness of digital signage campaigns is no exception. Digital signage is a big investment for a lot of businesses, so it is only natural to want proof that your ROI is a positive one. In this article, we delve into the intricate world of measuring ROI for digital signage campaigns, and provide a simple breakdown of where to start. From analytics to A/B testing, our experts are here to help you measure the ROI for your digital signage.
Create a Spreadsheet and Track your Analytics
The first step to measuring the ROI for your digital signage campaigns is to create a spreadsheet to track your analytics. This does not have to be anything fancy or extremely professional, as long as it provides you a place to record any relevant data and track changes over time; Google Sheets provides many handy templates which can be used with only minor modifications.
While the metrics you track will change from business to business, we recommend picking an area of interest and focusing your efforts there. For example, a restaurant wishing to see the impact of its promotional digital signage may track the sales of different menu items over time and compare it across multiple promotions. For visual learners, we recommend charting this data in a graph of your choice to see the visual representation over time.
If you are tracking specific data points like in the example above, we also recommend making a note of what your digital signage is showing, as well as the intention behind the current campaign. While this may not seem useful at first, it will help you look back and see how your expectations and intentions compare to the actual metrics, and help decide which changes to make.
The best part of tracking your own analytics this way is that you can track as little or as much as you want, in any way you want. At the end of the day, what really matters is helping you measure and understand the ROI of your digital signage investment.
Start A/B Testing your Content
Once you have a handle on tracking the analytics for your digital signage campaigns, the next step is incorporating A/B testing. Semrush defines A/B testing as:
“a research method used in marketing, web development, and user experience (UX). It compares two versions of an element—such as a webpage or advertisement—to determine which performs better.”
So how do you go about A/B testing your digital signage?
First of all, before A/B testing it is important to decide which metrics you will use to determine success; in other words, what does success look like? If your business wants to test the success of a promotional campaign, for example, you might measure your success with sales numbers. Keep your metrics in mind going forward, and be sure to track analytics that allow you to measure success.
After you have decided how to measure a successful campaign, create two versions of your content with different designs, layouts, item offerings, or wording that you would like to test. Select one version of your content to run for a specific period of time, 2 weeks for example, then switch to the other version and run it for the same amount of time. During this trial period, track your sales, engagement, and customer’s feedback for each variation.
Once all of your designs have been tested, review your analytics and implement the best performing version; in some cases, you might find that the best version is an amalgamation of elements from both designs. A/B testing is an excellent way to discover what kind of marketing your audience responds best to, making it a phenomenal tool if used correctly.
In Conclusion
Tracking important analytics and A/B testing with your digital signage are two excellent ways to measure their ROI. While there are other methods out there, these are the most universal and easy to implement, and are an excellent place to start. For more information or assistance with your digital signage needs, please contact our experts at any time.
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