Restaurants, venues, and retail establishments are rapidly adopting Digital Signage for the operational efficiency and mild revenue lift that even the most basic setup can provide. Some establishments adopt the signage because it just makes more sense and makes them feel more relevant with their emerging Millennial customer base. They’ve seen the case studies by industry pundits boasting of a 3 – 5% “lift” when combining operational efficiency and increased ticket size, even when done in an almost static format. Digital Signage ROI has clearly reached the tipping point.
Digital Signage for menus and featured merchandise (could be considered “Must Have” signage) can have a very different ROI than signage that is designed for information or general advertising (could be considered “Nice To Have” signage). “Must Have” signage for Digital Menu Boards must engage customers and influence them to follow your business strategy – driving greater revenue, or greater profit, or increased add-ons, or LTO trials, or even quicker through-put. Enterprises that feature “Must Have” Digital Merchandisers need customers to jump on a featured product, visit a key department, be compelled by how something appears, or be motivated to try something they were not aware of prior to seeing it. To get results with any of these strategies, you must have a complete Digital and Merchandising strategy from top to bottom. And many of us don’t really know how to do that.
So, here’s the big secret. Any of the aforementioned strategies must leverage data – transaction data, inventory data, demographic data, public data, and engagement data are just a few that could be blended into the mix. But let’s keep it simple. You already have your hands on transactional data every time someone rings the register. Most of you have inventory data that is tied to your Point of Sale system – you already know it’s smart and efficient to do that. So why not have the same connectivity between your Digital Signage System and your POS to enable more efficiency, engagement, and linkage with your particular strategy?
Generally, there are two reasons that Digital Signage and POS integration is not imperative from the get-go. Most times it’s an inability of your Digital Signage Software provider to perform that integration, or it’s because you don’t see the benefit of paying for the integration up front. Buying Digital Signage from a low-cost signage provider gives you a cheaper initial investment, but gives you little future upside if you can’t integrate their software with other systems. Refusing to integrate when you have the ability is simply being penny-wise and pound-foolish. The add-on benefits vastly outweigh the cost! And you’re going to do it eventually.
So, let me outline some benefits for you. Integrating your systems allows you to update prices in one system, saving tons of time. It also allows you to change prices on the fly easily. You can move LTOs or special offers in and out on a whim. You can study customer purchase behavior and modify what you sell to suit that evolving behavior. And … if you’re really with the right Digital Signage guys … you can use transactional data to become more predictive about what you should sell on a given day, at a specific time, during a particular event, and when reoccurring circumstances suddenly shift.
We all want to sell what the consumer wants to buy. That’s a given. We want to be in the right place at the right time so we can take advantage of someone’s inclination to buy. We want to influence them to buy something more than they’re thinking about. And we want the customer to be engaged along the way and believe that we understand them. That’s what makes them come back. And spend more. And rave about us. And become a relationship. You can’t do that with only pretty pictures on a Digital Screen. It takes knowing the customer just a little better than the next guy. That requires data. You already have it in your POS system, so why not use it? The payback is quick and it keeps on paying dividends every year!
Contact CRI to learn how easy and inexpensive it is to integrate your POS and Digital Signage. Your revenues, profits, throughput, and efficiencies will take a quantum jump. It’s worth the cost, and it’s shortsighted to do without it. Get yourself ready for the world of data that will drive transactions and customer loyalty. It’s simple, and it’s available now.