Measuring ROI
Measuring the return on investment for digital signage can be a gray area in education. If schools are not using the displays for advertising or generating revenue, then how can you determine a true cost- benefit analysis while putting together a proposal? You may need to emphasize that the ROI may not be in direct monetary value, but that it contributes to the institution’s big picture.
“A big driving factor behind this is the wow factor,” says Cahoy. “If a perspective student walks into my campus and they look at an old building that has a stodgy smell and paper stuck to the wall they go ‘eh.’ If you build a technology-rich environment, when they’re touring they say this is where I want to go … then you could argue ‘hey, over the life of that student [the school can] make quite a bit of money.'”
Related: Calculating Digital Signage ROI
That student will spend money paying tuition, buying books, purchasing a meal plan, etc. In the end, the school benefits from the increased revenue. A campus that isn’t as technologically savvy may see enrollment drop compared with the competition.
Another other major benefit of digital signage is emergency alerts. Tying digital signage into campus security and AV distribution will make for a larger-scale project that benefits both your firm and the school, and it makes for an attractive package. With the push of a button students and staff can be made aware of a potential threat such as an impeding weather-related disaster or a gunman on campus. Sending out the proper notification in a timely manner can help keep everyone on premise safe.
“You don’t want to put a price tag on somebody’s life,” says Cahoy.
The market for video walls has expanded and so have the possibilities as these projects demonstrate.
