We live in a fast-paced digital world. Because of this, many venues are adding digital signage. There are numerous benefits to adding this type of signage, which you likely already know if you are considering it. But have you evaluated the overall cost. There are a few things to consider besides the price of a sign. What is the real cost of adding digital signage to your property? Here, we will answer that very question.
Research
There are various types of digital signage and software. Determining which one is ideal for your venue requires extensive research. Someone on your staff needs to carefully evaluate all the options. This part of the process should not be taken lightly. Purchasing the wrong signage could be disastrous. The person responsible for this research needs to spend quite a bit of time on it, therefore costing you the amount you pay them for their time. Don't try to cut corners and give this job to your intern, who shows up every day an hour late, smelling like beer in stale cigarettes. This is an activity for one of your experienced team members, who does not live in his mom's basement.
Software Licensing Fees
Digital signage requires specific software. Most of the software companies require upfront and ongoing licensing fees. Don't forget about these fees when calculating the overall cost. It is useful to check the fee structure during the research process. This will help you decide which software and signage is optimal for your specific circumstance and budget.
To Lease or Buy
You must decide if you are going to lease your signage or purchase it out right. Consider leasing costs versus ownership. If you need to finance your signage, remember banks charge interest. Unfortunately, they don't lend money for free. Weigh the pros and cons and factor in the cost of either leasing or purchasing.
Installation
After you have decided on the signage you want, you then have to get it installed. There are two parts to this process. First, there needs to be a site evaluation. Then the actual installation occurs. Make sure you budget for both processes.
Programming
This is probably the most complicated part of implementing digital signage in your building. You need to hire someone with the expertise to program and manage it. Hire a geek and let him do his thing. You really need a professional for this job. Just because Mary in the accounting department knows how to set up a live YouTube stream of her hamster, does not mean she is qualified to program your signage.
Time
As the saying goes, "time is money." Be sure to account for the time involved in each of the above listed expenses. Don't rush through the process. This will likely just cost you more in the long term. We live in a world of immediacy. We want it, and we want it right now. Don't allow your urge for immediate gratification to rush you through this process. Patience is a virtue, right?
Adding digital signage to your venue is very beneficial, no question about that. You simply need to consider the overall cost before making such a decision. It is crucial to evaluate your specific situation and budget. What is best for one venue, may not be right for yours. Think about the people you want to attract with your signage and what they might want to see. What aspects of signage catch your eye? Can you implement those features into your venue? We hope the information above will assist you in this process.
