Phil Cohen cracks me up.
He does a video blog called "Cohen on Content" http://onthecspot.com/archives/1070 dishes on all things DS and DOOH. Being a successful owner of a network himself for years, he knows a thing or two about the subject.
So I was watching his latest post, and though he takes a while to get going, he makes some great points.
Point 1: Don't think you're going to create DS content with Powerpoint. You don't want him coming after you speaking a language he knows you'll understand. (He speaks fluent baseball bat.)
Points 2-10: It's not about impressions. It's not about eyeballs. It's about making money. You have to have engagement, and a way to prove that engagement, be it third party corroboration, sales, track-able promotions, or whatever, you need to show that you are accomplishing something, preferably making money.
DS and DOOH are not about putting up a screen where you think a bunch of people will see it. It is about effectively accomplishing serious business objectives. And you don't do that by being the next DIY digital signage failure. You do it by knowing what you're doing; what hardware and software platforms are apropos to your purpose, and what content and strategy will accomplish that purpose.
"It's about making money!" he says. And I say,
"Bravo, Phil!"
Showing posts with label ROI. Show all posts
Showing posts with label ROI. Show all posts
Thursday, May 9, 2013
Monday, October 29, 2012
Road to ROI
Return on Investment, or ROI, is how every investment decision in capital equipment, marketing materials, signage, is made by those who approve expenditures.
An objective is determined, a value assigned to that investment, and then some effort at due diligence in securing the best price (cost-effective) for that investment/purchase.
Someone determines that display and signage is necessary, someone identifies a budget, and then investments are made according to budget. When a new type of investment (in new technology) for signage or display comes under consideration, then the process begins anew for that particular investment. Perceived, and actual value are debated and assessed, not always from a fully-informed perspective, but usually some effort is expended in that direction.
The vendor does their best to convey the indispensability of their product; usually from a features/benefits standpoint, but not always in the terms or language that the potential investor uses. This is a key marketing and sales function:
"What will this investment do for me?" asks the potential buyer.
In the best possible scenario, the seller of the product has informed themselves diligently on the buyer's needs and valuation method, and can answer, "Here's how much this will make you/save you, over --- period of time." They articulate the value of the product in clear financial terms, and THEN restate the practical or functional values and features.
ROI gives the client/buyer the permission to invest in your product.
Window Video Systems (WVS) have clear, broad and deep ROI potential:
Display more of the client's product in a more dynamic, useful, attractive way than ever before. Never before has a retailer or business been able to display or demonstrate ALL of their products directly ON their storefront window, in full color and motion repeating the message. Never have they been able to repeat multiple or different kinds of messages, and especially, selling propositions, whether it be SALE, or pricing incentives, or other types of value propositions, or promotion of upcoming opportunities to the customer. WVS allows for interactive engagement with the viewing traffic, via QR or text to mobile device. WVS can drive traffic: both foot traffic in-store, or traffic to the Web, or to e-commerce portal. In the process, WVS can allow stores to "capture" viewers via engagement.
WVS is transformative. It has the potential to enable the retailer or other commercial business to transform how they communicate with customers with more immediacy and more depth.
Always look for ways to articulate and specify value to your OOH displays, to demonstrate ROI. It is the key to purchase approval. How does your OOH display provide ROI?
An objective is determined, a value assigned to that investment, and then some effort at due diligence in securing the best price (cost-effective) for that investment/purchase.
Someone determines that display and signage is necessary, someone identifies a budget, and then investments are made according to budget. When a new type of investment (in new technology) for signage or display comes under consideration, then the process begins anew for that particular investment. Perceived, and actual value are debated and assessed, not always from a fully-informed perspective, but usually some effort is expended in that direction.
The vendor does their best to convey the indispensability of their product; usually from a features/benefits standpoint, but not always in the terms or language that the potential investor uses. This is a key marketing and sales function:
"What will this investment do for me?" asks the potential buyer.
In the best possible scenario, the seller of the product has informed themselves diligently on the buyer's needs and valuation method, and can answer, "Here's how much this will make you/save you, over --- period of time." They articulate the value of the product in clear financial terms, and THEN restate the practical or functional values and features.
ROI gives the client/buyer the permission to invest in your product.
Window Video Systems (WVS) have clear, broad and deep ROI potential:
Display more of the client's product in a more dynamic, useful, attractive way than ever before. Never before has a retailer or business been able to display or demonstrate ALL of their products directly ON their storefront window, in full color and motion repeating the message. Never have they been able to repeat multiple or different kinds of messages, and especially, selling propositions, whether it be SALE, or pricing incentives, or other types of value propositions, or promotion of upcoming opportunities to the customer. WVS allows for interactive engagement with the viewing traffic, via QR or text to mobile device. WVS can drive traffic: both foot traffic in-store, or traffic to the Web, or to e-commerce portal. In the process, WVS can allow stores to "capture" viewers via engagement.
WVS is transformative. It has the potential to enable the retailer or other commercial business to transform how they communicate with customers with more immediacy and more depth.
Always look for ways to articulate and specify value to your OOH displays, to demonstrate ROI. It is the key to purchase approval. How does your OOH display provide ROI?
Friday, April 27, 2012
IPhone to run your DS?
After viewing this video, a number of people have inquired whether they could do something like this for their retail signage.
The answer is, "well, yeah, I guess, if you really wanted to..." but why? I suspect it reflects a desire to try something cool with their iPhone which they already have, so then, "All I'd have to get is that little projector and a screen-thingy like that!"
Which really is great. I know I sound like I'm laughing at them, and it is kind of amusing, but it is also great that people think DS is cool and want to try something with it. And at some point, this could make sense. But the great thing is that this is one of the great advantages that we, in the DS and DOOH field have, is that our stuff is (potentially) really cool.
But not guaranteed cool. Again, CONTENT (and method) is KING! It's about effective use of our cool gadgetry. It's all about effect and business-related results! We have absolutely got to keep our eye on the prize, which is to produce a business result.
Cool, exciting imagery will sell some systems, but a measure-able ROI-related result is what wins the game. Make sure you, too, don't get too caught up in all the features and benefits of your system, software and components. If you are not working with top-flight content or content producers, you need to change that, right away. If you don't know where to look for that, let us know. If you have a superior content producer that has produced great content that produces ROI for you, let us know as well; we are always interested in winners.
The answer is, "well, yeah, I guess, if you really wanted to..." but why? I suspect it reflects a desire to try something cool with their iPhone which they already have, so then, "All I'd have to get is that little projector and a screen-thingy like that!"
Which really is great. I know I sound like I'm laughing at them, and it is kind of amusing, but it is also great that people think DS is cool and want to try something with it. And at some point, this could make sense. But the great thing is that this is one of the great advantages that we, in the DS and DOOH field have, is that our stuff is (potentially) really cool.
But not guaranteed cool. Again, CONTENT (and method) is KING! It's about effective use of our cool gadgetry. It's all about effect and business-related results! We have absolutely got to keep our eye on the prize, which is to produce a business result.
Cool, exciting imagery will sell some systems, but a measure-able ROI-related result is what wins the game. Make sure you, too, don't get too caught up in all the features and benefits of your system, software and components. If you are not working with top-flight content or content producers, you need to change that, right away. If you don't know where to look for that, let us know. If you have a superior content producer that has produced great content that produces ROI for you, let us know as well; we are always interested in winners.
Friday, March 30, 2012
Measure! Measure! Measure!
"If you don't measure it, you're not serious about it." I heard Tony Robbins say that, and I believe, oh yes, I believe.
BUT, what you spend your time (and money) on measuring is a critical distinction. So many are focused and measuring eyeballs, footfalls and what-all other traffic-related metrics. Fine and dandy. Those will possibly do you some good when trying to sell to agencies. But you will not convince me (or them) that those metrics are all you need in order to steer their placement dollars your way.
That's the same school as those enamored of "page views" and clicks.
Big deal. Is there value to know that? Sure. Will it help you sell more? Possibly. But once again, I mount my hobby horse and ride across the digital landscape sounding the alarm, waking the sleepers to the critical task at hand: "ROI! ROI, ROI!!!"
More and more, companies are prioritizing action and transaction based metrics. This is why "engagement" has become so popular, but it too, can be a mere siren, luring the unsuspecting DOOH investor and network owner onto the rocks of wasted investment and even business failure due to insufficient ROI.
Action, and better yet, transaction is highest and best. If all you can manage is traffic, then measure as much and as deep as you can. But if you can create a metric for action and transaction related measurement, which is more of a marketing/sales related function, then that is where the investment in time and money are better spent. Develop trackable campaigns and messaging. Promote engagement via mobile, tactile or best of all POP purchasing action. Be sure, when you can to propose dedicated selling propositions, something which can only be attributed to the action coming as a result of seeing your visual deployment.
Carefully tracking those actions and their financial value is paramount. Dollars always compare favorably to digital increments like impressions or views.
"15% off all women's left shoes" placed only on your screens, is a message that is trackable. The only way anyone asks for that, you know, is if they saw it on your screen, since it is a unique message. This is what is meant by a "dedicated offer".
Always use dedicated offers whenever possible and ensure that your tracking system is sound (that you have a reliable way of capturing that data.) That is where you gain the edge in selling (advertising, and more displays) with your DOOH displays.
BUT, what you spend your time (and money) on measuring is a critical distinction. So many are focused and measuring eyeballs, footfalls and what-all other traffic-related metrics. Fine and dandy. Those will possibly do you some good when trying to sell to agencies. But you will not convince me (or them) that those metrics are all you need in order to steer their placement dollars your way.
That's the same school as those enamored of "page views" and clicks.
Big deal. Is there value to know that? Sure. Will it help you sell more? Possibly. But once again, I mount my hobby horse and ride across the digital landscape sounding the alarm, waking the sleepers to the critical task at hand: "ROI! ROI, ROI!!!"
More and more, companies are prioritizing action and transaction based metrics. This is why "engagement" has become so popular, but it too, can be a mere siren, luring the unsuspecting DOOH investor and network owner onto the rocks of wasted investment and even business failure due to insufficient ROI.
Action, and better yet, transaction is highest and best. If all you can manage is traffic, then measure as much and as deep as you can. But if you can create a metric for action and transaction related measurement, which is more of a marketing/sales related function, then that is where the investment in time and money are better spent. Develop trackable campaigns and messaging. Promote engagement via mobile, tactile or best of all POP purchasing action. Be sure, when you can to propose dedicated selling propositions, something which can only be attributed to the action coming as a result of seeing your visual deployment.
Carefully tracking those actions and their financial value is paramount. Dollars always compare favorably to digital increments like impressions or views.
"15% off all women's left shoes" placed only on your screens, is a message that is trackable. The only way anyone asks for that, you know, is if they saw it on your screen, since it is a unique message. This is what is meant by a "dedicated offer".
Always use dedicated offers whenever possible and ensure that your tracking system is sound (that you have a reliable way of capturing that data.) That is where you gain the edge in selling (advertising, and more displays) with your DOOH displays.
Friday, February 24, 2012
The Accountable Screen
How effective is your content at producing measurable results?
Measuring traffic, eyeballs, footfalls, etc., is on a lot of people's minds these days. But if you've read this blog much at all, you know that for me, and for most business people, the bottom line is the bottom line: How effective is your DS or DOOH at producing measurable results, SALES results?
If your content is not currently featuring trackable propositions, it is underutilized. This is the holy grail, people! Your product, producing measurable sales, revenue, and profit, is the ultimate justification for the existence of our medium! I think there are few with more potential, that still remain so underachieving.
I'm not sure why that is, but it is borderline criminal. This is where it's at. Making money. When you can demonstrate measurable sales results via your product, for your clients, YOU WIN!!! No matter what that client does, when you have tracked, proven sales results, nothing they can do can take that away from you. It is success incarnate.
Strategize unique selling propositions (USP) dedicated to your medium only. Make sure the measurement mechanism is firmly in place and that you have access to that information. That is power, the ultimate justification for your product. Start now, to make your systems accountable. You will never regret it. And you will make more money. The window of opportunity is here.
Measuring traffic, eyeballs, footfalls, etc., is on a lot of people's minds these days. But if you've read this blog much at all, you know that for me, and for most business people, the bottom line is the bottom line: How effective is your DS or DOOH at producing measurable results, SALES results?
If your content is not currently featuring trackable propositions, it is underutilized. This is the holy grail, people! Your product, producing measurable sales, revenue, and profit, is the ultimate justification for the existence of our medium! I think there are few with more potential, that still remain so underachieving.
I'm not sure why that is, but it is borderline criminal. This is where it's at. Making money. When you can demonstrate measurable sales results via your product, for your clients, YOU WIN!!! No matter what that client does, when you have tracked, proven sales results, nothing they can do can take that away from you. It is success incarnate.
Strategize unique selling propositions (USP) dedicated to your medium only. Make sure the measurement mechanism is firmly in place and that you have access to that information. That is power, the ultimate justification for your product. Start now, to make your systems accountable. You will never regret it. And you will make more money. The window of opportunity is here.
Saturday, November 19, 2011
Interactive Display? Show Me the Money!!!
I don't usually refer other blogs or articles, but I read one (link below) that I thought was so on-point, I had to talk about it.
It would appear that “Interactive” has too often become a euphemism for “silly, game/entertainment related touch-screen based display”.
Lots of people will tell you “Interactive needs to be engaging.” That is very true, but it is also very much a potential trap, because “engaging” is a subjective term. It would appear that implementers of so much "interactive" seem to lose sight of a bottom-line business imperative: making money. I know, that sounds so crass, so unimaginative. Well, it’s really important to the people who pay for this stuff.
Interactive DOOH has got to “grow up” as the author of the article below says, and prove it’s money making, ROI-producing chops. It is the key to getting a lot more business in the future for yourself and for your client. It's not just about the coolness of the hardware, or the coolness or "fun" of the design concept, it's about how does this make the client money? Just because you lured a few people into playing your stupid game, or dancing, does NOT mean you succeeded at any type of business objective. Getting people to play games on your window has NOTHING to do with making a profit. And your clients will not continue to pay for "Interactive" that does not in any way lead to profit.
Any Interactive display on or in a business should be somehow directly related to getting that person or the people watching to BUY SOME PRODUCT! As a direct marketer for my entire professional career, I can tell you: Clients will not continue to purchase something which they do not believe somehow leads to them making more money. ROI is the driving force, today more than ever. When DOOH (and especially, Interactive) demonstrates that ability clearly and consistently, we win the game. (And make more money.)
Flat-out, plain and simple, “SHOW ME THE MONEY!!!”
Flat-out, plain and simple, “SHOW ME THE MONEY!!!”
Article URL: http://www.digitalooh.biz/2011/11/14/digital-ooh-needs-to-grow-up-now/
Monday, November 7, 2011
Where's the DR in DS?
D'Oh!!!
Someone forgot to put an "R" in "DS" or "DOOH"!
"R" as in "RESPONSE". We all know that the purpose of DOOH is to communicate more effectively to target audiences where they are---out in the marketplace. Lots of attention has been paid to "communicate", but more attention could be paid to "effectively". Doing that requires a focus on measurable campaigns, calls to action, and selling proposition. DOOH is a fantastic media, but it will become more and more dominant as the numbers come in on effectiveness. And focusing on measurable response provides you the numbers and justification for your selling efforts.
Make sure that when you pitch your solution you recommend Direct campaigns, along with all the other wonderful things your solution can do. It is the key to selling non-marketing-oriented decision makers. Return on investment is a critical component to good business decision making, so be sure to at least have some hypothetical examples of return on investment for your target client.
For example, if you have an automotive dealership client who makes $600 per sale of their mid-range model, then give him an example of a campaign designed to sell mid-range models and how many it will take to pay for your system and show profitability. Seems obvious, I know, but people tend to get excited about the technology, and sometimes forget to build some strong ROI-based financial justification into the sale. Equally important, once the sale is made, work hard to get the client to use their DOOH for Direct Selling or Direct Response campaigns, where they can measure effectiveness. If you don't produce marketing content for your solution, hook up with a quality marketing-savvy content provider, and offer that service. It will build value, profitability for you, and a more satisfied, long-term client. And if you need a referral for content, give me a shout.
Someone forgot to put an "R" in "DS" or "DOOH"!
"R" as in "RESPONSE". We all know that the purpose of DOOH is to communicate more effectively to target audiences where they are---out in the marketplace. Lots of attention has been paid to "communicate", but more attention could be paid to "effectively". Doing that requires a focus on measurable campaigns, calls to action, and selling proposition. DOOH is a fantastic media, but it will become more and more dominant as the numbers come in on effectiveness. And focusing on measurable response provides you the numbers and justification for your selling efforts.
Make sure that when you pitch your solution you recommend Direct campaigns, along with all the other wonderful things your solution can do. It is the key to selling non-marketing-oriented decision makers. Return on investment is a critical component to good business decision making, so be sure to at least have some hypothetical examples of return on investment for your target client.
For example, if you have an automotive dealership client who makes $600 per sale of their mid-range model, then give him an example of a campaign designed to sell mid-range models and how many it will take to pay for your system and show profitability. Seems obvious, I know, but people tend to get excited about the technology, and sometimes forget to build some strong ROI-based financial justification into the sale. Equally important, once the sale is made, work hard to get the client to use their DOOH for Direct Selling or Direct Response campaigns, where they can measure effectiveness. If you don't produce marketing content for your solution, hook up with a quality marketing-savvy content provider, and offer that service. It will build value, profitability for you, and a more satisfied, long-term client. And if you need a referral for content, give me a shout.
Tuesday, March 29, 2011
Driving the Auto Dealership
Car dealers, like most everybody, are down lately. This darn recession isn't going away anytime soon, and a significant chunk of their market has been taken away from them. Still a lot of people out there buying cars, but not enough to go around and keep everyone fat and happy.
Competition is fierce for the attention, for the interest, for the "mindshare" of the buyers that are there. Your product has to be good, your people have to be good, and your dealership has to look even better.
Window Video Systems (WVS) by Looknglas take the dealership experience to a whole new level. Light up your windows with your product images in color and motion. Remind customers of your features and benefits. Entice them with your offers and promos. Affirm them in their decision to consider and buy your cars. These days, it's not just about good product or salesmanship, it's about the experience. Digital Windows, Digital Banners, Digital Posters, even Digital Mannequins and Digital Salespeople can and will add to the intrigue and excitement of the sales environment. There are few products more technologically sophisticated than a new car; Window paint, posters, and floppy inflatable men don't do the product justice.
Window Video Systems in Auto Dealerships make for a more enjoyable, and successful, sales environment. With some studies showing Digital Signage increasing point of purchase sales by as much as 170%, Widow Video Systems are an investment that can provide significant Return on Investment and increased profitabiity.
Competition is fierce for the attention, for the interest, for the "mindshare" of the buyers that are there. Your product has to be good, your people have to be good, and your dealership has to look even better.
Window Video Systems (WVS) by Looknglas take the dealership experience to a whole new level. Light up your windows with your product images in color and motion. Remind customers of your features and benefits. Entice them with your offers and promos. Affirm them in their decision to consider and buy your cars. These days, it's not just about good product or salesmanship, it's about the experience. Digital Windows, Digital Banners, Digital Posters, even Digital Mannequins and Digital Salespeople can and will add to the intrigue and excitement of the sales environment. There are few products more technologically sophisticated than a new car; Window paint, posters, and floppy inflatable men don't do the product justice.
Window Video Systems in Auto Dealerships make for a more enjoyable, and successful, sales environment. With some studies showing Digital Signage increasing point of purchase sales by as much as 170%, Widow Video Systems are an investment that can provide significant Return on Investment and increased profitabiity.
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