It’s my favorite infographic. A simple but powerful statistic that supports the sign industry at large and magnifies the value of digital displays.
It’s a number that highlights the two ends of the spectrum when it comes to one of advertising’s most important metrics: reach, or the total number of people on which your message can make at least a single impression. In theory, of course you’d want to reach as many people as possible with information about your products and services. But for the majority of smaller businesses and organizations, the goal should be to make maximum impact on those most likely to become patrons. In terms of your total marketing strategy, this LOCAL audience is the low-hanging fruit and should be a very high priority.
There’s value in all kinds of media advertising. For bigger brands with multiple locations or a regional footprint, maximizing reach is important. It’s also an important factor for building long-term Top of Mind Awareness over a larger audience. But big reach usually comes with a big price tag. Most traditional media vehicles are priced per impression, so an advertisement that reaches an audience of 100,000 people, might cost 10x that of one that reaches 10,000. Makes sense, right?
The question an entity needs to evaluate is: how much of that reach is wasted? For instance, if you’re paying to reach a very large audience via a TV or radio ad, is it worth the price you’re paying to advertise to people that may be 100 miles away from your store? Because like it or not, you’re paying for that audience. So whether you’re a taco shop or a dentist, you put more emphasis on WHO you’re reaching, rather than HOW MANY.
Which takes us back to that magical 85% statistic. Digital signage is a cost-effective marketing tool designed to reach a smaller but very important audience; the one that might actually walk in your door.