Calculating Digital Signage ROI
Jun 14, 2019
Digital signage as a form of marketing works. But what exactly does "works" mean?
The investment you make in your digital signage solution may be one of the most critical marketing investments you'll make for your company. And like other marketing investments, you are likely challenged by the age-old question about your company's return on this investment.
ROI calculations go well beyond the feel-good realization that you received some positive return on what you spent. The essential factors that determine your ROI can guide future investments and facilitate growth.
There are several calculations used to measure digital signage success. These include:
- Return on investment (ROI) - This tradition calculation compares the cost of the investment related to the resultant return (uplift or loss.)
- Return on objective (ROO) - A marketing calculation that considers qualitative data related to the expected outcome or goals of a campaign.
- Total Investment Cost (TIC) - The combined cost of all the components related to an investment. In the case of digital signage, this can include the hardware like displays, players, mounts, kiosks, the software, installation costs, and maintenance, among other associated costs.
- Total Cost of Ownership (TCO) - Ownership cost includes items in the initial investment along with the ongoing operating cost, such as overhead and expenses related to the digital signage solution.
Let us help you to understand the methodology behind calculating various ROI measurements. You'll be left with a better plan for your digital signage investment.