Nikita Sherbina
11 min read

Best Digital Signage Business Plan of 2024 (Ultimate Guide)

digital signage market business plan know consumer behavior

Implementing a new marketing method can be daunting for businesses, requiring convincing decision-makers to buy into the idea. According to a recent survey, more than 40% of customers believe that digital displays can influence their purchasing decisions by providing them with relevant information in close proximity to the point of sale.

However, these challenges can be overcome by creating your own digital signage business plan. Although some may consider it an unnecessary step in the process, creating a plan helps to address the specifics. Our ultimate guide details business plans that have been proven to increase market penetration by 45% and operational efficiency by 30%.

Being a momentum maker who is eager to get started on the project may cause one to overlook the importance of planning, but taking the time to create a digital signage business plan will help in the long run. It allows for a thorough consideration of the potential of digital screens, ensuring that they are used effectively to achieve the organization’s goals.

A well-designed digital sign network can help to engage and communicate with customers, drive sales and revenue, and enhance the overall experience. At AIScreen, we can help you create a digital signage business plan essential to success in digital marketing.

The Importance of Setting Objectives for Digital Signage

setting objective for small businesses advertising services

Define your objective

Before embarking on a digital signage for banking implementation, it is vital to define clear objectives. Without a specific objective, gaining approval and measuring the project’s success is challenging.

One approach to establishing objectives is through agile project management and marketing techniques by creating user stories that help visualize the goals of the digital displays.

Here are some examples:

As an employee, I want to stay informed about company news and updates to feel more satisfied in my job role.

As an educator, I want to share information with my students that improve their performance and make lessons more engaging.

As a shopper, I want to know the latest monthly promotions to make more informed purchasing decisions.

In an organizational setting, digital signs could be utilized to inform employees about company news, increasing job satisfaction. In education, digital signage could be used to provide students with information that helps them perform better and enjoy more engaging lessons. Alternatively, it could be used in retail to inform customers of monthly offers to help them make better purchasing decisions.

Another method to set objectives is through the SMART framework, which ensures that the objective is specific, measurable, attainable, relevant, and timely. This approach could involve raising sales during a specific campaign, such as Christmas, or increasing awareness of productivity levels on the production floor.

Visualize your objective

objectives for brand services for company business owner

Visualizing objectives is crucial for success. By displaying your user story or SMART objective, it becomes a daily reminder that helps motivate the team toward success. This visual representation helps the team to understand the intended outcome, stay focused, and measure progress toward the goal.

A visual display also enables course correction if necessary, keeping the objective on track and ensuring success. In conclusion, creating a visual display of the objective is critical to achieving success.

Build a strong business case

own digital signage business advertising enhance customer experience

To gain support for your digital signage project, it’s essential to build a compelling business case highlighting the broader benefits of digital signage beyond just aesthetics. Use statistics to show how digital signage can increase revenue and reduce costs.

For example, replacing printed signs with dynamic, interactive displays can save staff time and costs. Social media walls can increase engagement and help marketing teams achieve their goals more effectively.

Think beyond the surface-level appeal of digital signage business and make a convincing case for why it’s the best choice for your organization over other options like printed materials or hiring more staff.

By showcasing an excellent way in which digital display can drive tangible business results, you can gain the necessary buy-in and support for your project.

Choosing the Right Digital Signage Hardware

Pick your digital signage device

digital signage business marketing technology hardware purchase

Choosing the Right Digital Signage Hardware

Pick your digital signage device

Choosing the proper hardware is essential to successfully setting up a digital signage business system. This can seem challenging, but with the right resources, it can be simple. A hardware selector tool can be used to know whether you need new screens or can use existing ones. It can also help determine what additional parts, media players, or laptops you need.

When it comes to choosing hardware, you’ll typically have 2 options. If you have a Smart TV that’s already connected to the internet, you can easily set up cloud-based software from AIScreen without any additional devices. On the other hand, if you don’t have a Smart TV, you’ll need to add a screen and media device to turn it into a smart screen.

Choosing hardware that is reliable and compatible with your chosen software is essential. This will ensure that your system runs smoothly and manageably. Research your options thoroughly and choose hardware that meets your needs and budget. With the proper hardware in place, you’ll be well on your way to creating a successful digital signage system that engages and informs your audience.

Practical Considerations for Digital Signage

digital sign user generated content for schools

When planning your digital signage business, it’s essential to consider the practical elements of where your screen will be placed. Choosing a beautiful screen without considering its practicality may lead to problems later. You should visualize the screen’s location, consider its height and accessibility, and whether it needs to be tamper-proof.

For instance, if you’re placing the screen in a public area, such as a school or library, you’ll want to ensure that it’s secure and difficult to turn off or remove. Consider using a screen with hidden buttons and controls or fixing an iPad or tablet in a Bouncepad.

It’s also essential to consider ambient lighting conditions. In bright atriums or areas with a lot of sunlight, you’ll want to choose a screen with high visibility in bright lighting conditions.

Once you’ve narrowed down your options, create a pros and cons sheet for each so that you can make an informed decision based on your specific needs. By carefully considering the practical elements, you can ensure that your signage is aesthetically pleasing, functional, and effective.

Utilizing Digital Signage Software

Ensuring Compatibility

 device compatibility with digital displays for business advertising

It wasn’t too long ago that installing digital signage business software was a cumbersome task that required the assistance of IT experts. However, the market has changed significantly. Nowadays, modern software is cloud-based, making it easily accessible from any smart TV. This shift has made compatibility a lot easier.

Nevertheless, you still need to ensure that your screen has a robust Wi-Fi connection if you plan to use cloud-based software. By being mindful of these considerations, you can guarantee that your hardware and software work together seamlessly.

Assess Software Administration

digital signage business system for shop and businesses

One crucial aspect of implementing a successful digital signage business system is selecting the right management software. With so many options available, it can be overwhelming to determine which software will work best for your specific needs.

Before deciding, it’s a good idea to take advantage of free trial periods offered by many software providers. This will give you the opportunity to test the software and see if it meets your requirements.

When evaluating software, it’s essential to consider the perspective of the people who will be managing it. For instance, if your head of department or social media manager manages the digital signage company system, you’ll want to ensure the software is user-friendly and doesn’t require extensive technical expertise.

Additionally, it’s essential to consider the logistical aspects of software management. Where can the software be managed from? Is it easy to update and make changes remotely? These are all critical questions to ask when evaluating different software options.

Another consideration is the integration of third-party applications. Some digital signage company software may rely on API integration with other systems, which can be challenging if your team lacks the technical expertise. Evaluate the software’s compatibility with other systems and assess whether it will require additional resources or training.

By evaluating different options and considering all the necessary factors, you can ensure that you choose the best software for your digital signage strategy system.

Consider scalability

customers and users power to decide and create a purchase

When selecting digital signage software, it’s essential to think about scalability. Choosing a software solution that meets your current needs may be tempting, but what about when you want to add more screens or expand your signage network? Can the software handle this growth? Will it still be cost-effective when you have to manage dozens or even hundreds of screens?

Additionally, you’ll want to consider if the software has an enterprise-level pricing structure that offers discounts for more extensive networks. This can help you save money in your bank in the long run as you expand your signage network.

Another factor to consider is how easy it is to add or remove screens as your needs change. If the software is difficult to scale or requires a lot of technical expertise to manage, it may not be the best fit for your organization. It’s vital to project into your digital signage plan for the next one, two, or five years to ensure the software you choose can handle your future needs.

By considering scalability early on, you can make the right choice for your organization and avoid switching to a new technology solution.

Develop a Laser Focused Content Strategy

service and research displays example for marketing

A successful digital signage strategy must have an effective content strategy. You should consider it during the software selection process, and you should have an overview of what content will be displayed on the screens once the network is in place.

It is common for people to have a set-it-and-forget-it mentality where screens are installed. You can ensure that the screens display relevant and engaging content to attract and retain viewers by ensuring you have a quality content plan in place – which will increase the effectiveness of your digital signage strategy and ensure it achieves your business goals.

The content plan should be reviewed and updated regularly to remain relevant and engaging. It should also be flexible enough to allow for changes based on feedback and new developments. Having a solid content strategy in place will help ensure the success of your digital signage network.

Consider Content Variety: Owned, Curated, and Apps

signage business content marketing strategy in high traffic areas

When setting up your digital signage network, it’s crucial to think about the types of content you want to showcase. You may already have resources you want to display, such as presentations or reports. In that case, it’s crucial to ensure compatibility with your chosen software and then create a list of your owned resources and explain why you want to display them.

Additionally, many digital signage systems, such as AIScreen, provide App Stores that offer a variety of apps that can integrate your existing content or provide curated content for you to share. This could include news feeds, weather apps, local travel information, or live sports scores. But before choosing any apps, you must link them to your objectives and use cases. You need to determine why you want to display certain types of content and how they fit into your company’s goals.

By considering the content variety and planning ahead, you can avoid displaying outdated or irrelevant content on your screens. Instead, you can create a solid content plan that aligns with your objectives and helps you achieve your desired outcomes.

Managing and Updating Content

digital signage content calendar

Content management is important when it comes to digital signage. You need to consider who will manage the content and how it will be updated. Whether it will it be manual or automatic, a schedule or calendar can help ensure the content remains relevant and that digital signage is part of a long-term plan.

Visual Identity and Creative Direction

branding and design tools for business clients

It’s also essential that you consider branding and design early in the process of creating digital signage content, especially if you plan to create your own designs. This direction can reduce the need for excessive approvals and ensures that the design team is involved and aware of the specific requirements for the signage.

Measuring Success and Effectiveness

effective brand tools for measuring success and effectiveness

Ensure you measure the success of your digital signage strategy through return on objective or return on investment. Determine how and when you will measure them, and keep it measurable to gauge success.

Maximizing the Impact of Digital Signage: 3 Key Steps

businesses determine marketing clients and customers

There are three key steps to follow to maximize effectiveness. The first step is to define your target audience and create audience personas. This will help determine the type of content to display and how often to change it. Regular measurements should be taken to determine the success of the strategy.

The second step is linking your digital signage strategy to your organization’s aims. Determine the benefits you want to achieve and create a plan to measure them.

If you’ve learned something new and want to explore the business side of the digital signage industry, you can start by reading our article on “White Label Digital Signage”. It will provide insightful information about the opportunities and advantages in this sector.

focus on brand audience in most businesses

The third step is to improve and adjust the screens’ content constantly. Digital signage is not an exact science, and finding the right combination of content that resonates with the audience may take time. But the beauty of it is that it can be easily changed and tested, unlike traditional static signs.

Once you have completed these three steps, the rest is easy. Sign up for a free trial of AIScreen and get started with your marketing strategy.

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  • 1500+ ready-to-use templates
  • Offline playback
  • 70+ built-in integration
  • Split screen to zones