The Future of Outdoor Advertising is Here
- Steve Osborne
- Feb 7, 2023
- 3 min read
Updated: Apr 8
With outdoor digital signage displays capturing up to four times more attention than their traditional counterparts, it’s easy to see why they are being cited as ‘the future of advertising’. In 2022 the global digital signage market was estimated at USD 23.12 billion and is expected to grow at a compound annual rate of 7.7% to 2030, with the outdoor digital signage segment expected to exhibit the fastest growth.
In this article we speak to Steve Osborne, Managing Director at Melford Technologies as he dives into the factors fuelling that growth and why companies in the retail and hospitality sectors should be embracing digital signage technology.
What do you see as the key drivers for growth in the outdoor digital display market?
“It’s mainly down to companies looking for new and effective ways to advertise products and services, to attract the attention of their target audiences.
There’s ever growing demand from companies to promote products on a large scale and with the increasing number of live outdoor events, digital signage gives them the opportunity to market in different and more creative ways to capture the attention of new and existing customers. These factors are likely to continue to boost the adoption of digital posters and drive growth in the ‘out of store’ segment of the market.
I see the strongest markets and those showing the biggest growth being the retail and transportation sectors.
What are the benefits of digital signage?
The primary objective of any form of outdoor advertising is to increase customer engagement and recall. Research shows that advertising on digital outdoor displays shows an increased number of customers remembering the message they saw and acting on the information they’ve been given.
It gives businesses a competitive edge. The vibrant colours and eye grabbing graphics on digital displays capture four times more attention and companies who invest in commercial outdoor displays can expect a 35% higher return on investment.
Once installed it’s much easier to keep content up to date and relevant with some companies choosing to stream live content from their websites in real time. So, in addition to a reduction in the time it takes to get messages to market, there’s also a cost saving because you avoid production, print and shipping costs. Unlike static boards, digital signs are capable of displaying multiple messages which allows companies to target specific personas with messages tailored to the exact stage in their buying cycle.
Where do you see the biggest opportunity in terms of market verticals?
Business in the retail, finance, hospitality, and transport sectors see the greatest benefit from this technology to increase brand awareness and customer engagement, however we’re starting to see large-scale outdoor advertising and digital signage displays in many other markets. The technology is relevant to any business wanting to deploy engaging content, where it matters most, to increase their opportunities for cross-sell / up-sell and impulse purchases.
How do Melford support partners and customers with these technologies?
We have a strong presence in the key markets for outdoor digital displays and we’re always look for resellers and software developers in the retail, hospitality and transport verticals to partner with.
All businesses need to innovate to survive in a competitive marketplace, and digital signage allows them to do that. We have long experience with the technology and are very familiar with the markets outdoor signage is most relevant to. This is a great opportunity for businesses to use digital technology to improve their performance and deliver real business value, in order to keep up with the competition.
We have a comprehensive portfolio of fully customisable displays and a proven track record with use cases that demonstrate the value outdoor digital displays add to our customers businesses.
If you want to find out more, please contact us and we will get someone from the team to give you a call to discuss your exact needs.
Meet The Author - Steve Osborne, Managing Director
Steve has led Melford for over ten years with the recent company achievement being recognised with the prestigious Queen’s Award for Enterprise: International Trade. With a combined background in manufacturing and electronics, as well as experience consulting on business growth, quality and international export; he has the skills and expertise and a wealth of product knowledge to lead an exceptional team in their delivery of digital technology with unparalleled performance and reliability. When Steve isn’t leading Melford, you will find him at the racetrack trying to improve his personal best or cycling the coastal paths of North Devon.
