How to Purchase Digital Signage on a Shoestring Budget

Digital signage is a form of advertising that comes with a host of benefits. For example, it can help businesses improve customer engagement, increase brand awareness, and boost sales. In fact, 80% of brands that use digital signage record an increase in sales, up to 33%.

Although digital signage may yield a higher return on investment for businesses, the price tag often deters small businesses or other businesses on a budget who simply cannot afford the investment. To those who think they can't afford digital signage: you're not out of luck. There are different options that will help you save money and yield the same result. Here are some ways you can purchase digital signage on a shoestring budget.

The Costs of Digital Signage

Digital signage has significant advantages over traditional signage. For instance, you can use digital signage solutions for a wide range of dynamic applications, such as menu boards, video walls, and more. However, digital signage also comes with a higher price tag than traditional signage. The following are some digital signage costs that you'll need to be aware of:

• Digital Signage Displays: The cost of a display will vary based on a number of factors. For example, the bigger the screen size, the more it will cost. The quality of the screen will affect the price as well. For example, a high-quality commercial display from Samsung will also cost more than a consumer-grade LCD TV screen.
  
• Digital Signage Players: You'll need at least one digital signage player to stream content to your digital signage screens. Media boxes and plug-and-play sticks are two common options. There are also all-in-one options, but they don't have as much functionality as external players.
  
• Installation: Installation costs can add up depending on how many display screens you need to install -- and where you want to install them. For instance, if you want to wall mount several large screens, it will cost more to do so. Commercial grade wall mounts will cost more than normal wall mounts, but they'll also be more durable. You'll also need to pay for labor.
  
• Digital Signage Software: You'll need content management software for content creation, management, and streaming. Most digital signage software solutions come with features like apps, playlist managers, and templates. However, you'll have to pay a monthly fee for the license to use it.
  
• Implementations of Digital Signage Network: Actually setting up your digital signage hardware and network can be very challenging. Most business owners will hire professionals to connect and prep each player and screen.
  
• Maintenance Costs: Things can always go wrong when it comes to technology. You may have connectivity issues at some point, or technical issues with your hardware that you'll need to address. As such, expect to budget for repair and replacement costs in the future.

Factoring in all of these costs might make digital signage seem too expensive to implement. However, don't be too quick to dismiss the use of digital signs if you're working with a smaller budget. Not only can the use of digital signage result in a high ROI, but there are ways to afford it, even on a shoestring budget.

How to Afford Digital Signage with a Limited Budget

The following are just a few ways that you can invest in digital signage even if you don't have a large budget at your disposal:

1. Buy Used or Refurbished Displays

One way to reduce the cost of digital signage is to buy used or refurbished displays. There are many companies that sell used and refurbished displays, and you can often find displays for a low cost. However, make sure that you are buying a high-quality product from a reputable company. Even if it's used, look for sellers that offer warranties on their screens.

2. Rent Hardware

Another option for reducing the cost of digital signage is to rent hardware. This can be a good option for businesses that only need digital signage for a short period of time. There are many companies that offer rental services, and you can usually find good deals on them.

3. Use Free or Open-Source Software

Use free or open-source software. There are many free and open-source software options available, and they often have a wide range of features. However, it is important to make sure that the software is compatible with your displays and media players.

4. Purchase from a Digital Signage Expert

Consider purchasing your digital signage solutions from a digital signage company. Many digital signage companies offer different packages which will make the overall cost affordable. For example, when you purchase a Mvix media player, the cloud-based digital signage software is free saving overall licensing cost. The software also comes equipped with scheduling, templates, and designs so that you can easily manage your content. While some think that purchasing from a digital signage company could be a pricier option, you may get more bang for a lower cost than you think.

Digital Signage: Worth the Investment

In the end, digital signage not only saves you money down the line by reducing printing costs, but the overhead of purchasing this technology can also be more affordable than assumed. Explore the numerous options to keep your cost low and decide which one is best for your investment. Get the benefits of a low-cost solution and higher engagement.