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If you have tried signing up for a digital signage solution, you quickly discovered it could be like a building project. It has so many hidden costs that the initial budget seems more like a bad guess. So how do you budget for digital signage?
Once you have studied this guide, you will know the requirements at every step. You can then budget with confidence as it takes the guesswork out of the cost of digital signage. The guide will show you precisely what to consider to arrive at the total cost of ownership (TCO).
Signage hardware refers to any physical parts of the digital signage solution, such as the digital displays. There are several types of display units, including:
Your choice of hardware will depend not only your budget but project type as well. The basic formula you should consider when looking for a digital signal screen is:
You could pick a consumer-grade TV to cut down on costs, but they are not good enough for commercial purposes. As the most visible part of your project, you will be better off spending on a quality commercial unit. Of course, the purchase price is significantly higher, but you will see its return on investment (ROI) in the long run. That's because commercial displays have extended warranties, have the more powerful processing power, and last longer.
You will see the biggest ticket item when constructing a budget for digital signage is the display screen. A good, sizable TV display will set you back anywhere from $200 for a consumer-grade TV to well over $2000 for an enterprise commercial solution. Have a look at these price points for indoor display digital signage solutions:
For outdoor signage, you want a display unit with high visibility and is robust enough to withstand the elements. Using a consumer unit in this instance is out of the question. Commercial units are the only way to go. Using Samsung displays for illustration, notice how the pricing varies widely:
If you want huge displays in a department store or convention center, you can take the game a notch higher with a video wall. They offer continuous, detailed, close-up viewing using several display screens to form one larger display. As you've probably guessed, they are not cheap. For instance, the cost for a single display unit ranges from $2,000 – $6,000 for a 46' – 55' screen size.
The next most crucial part of a budget for digital signage is the media player. A media player will stream content to your display device.
There are three categories of media players:
The price of digital signage players will vary according to how you intend to use the digital display. That said, the variation is not as wide as the digital signage display units.
Now that you have purchased your screen display, you will need mounting hardware for it. There are different display mounts, all depending on where you intend to mount your display. They include:
The viewing angle and mounting space will determine what kind of mounting hardware you need.
As usual, there are consumer and commercial-grade mounts, you are better off with commercial offerings because of the superior build quality. Additionally, they have better specifications since installation, service, and adjustments will be a lot easier. Long term, they are going to be more cost-effective.
Another tricky heading to provide a final digital signage project budget cost is labor. It will boil down to how big or challenging your project will be.
Most digital signage software is cloud-based and requires a monthly licensing fee. The subscription plans grant you access to templates, apps, playlist managers, tutorial videos, and 24/7 support. If you opt for the paid digital signage software, it supports multiple operating systems. That allows integration to your current solutions, and you can scale it to various display devices. Some companies also offer free digital signage software.
Digital signage is heavy on graphics; you may want subscriptions to include:
For your digital signage project to work as intended, you must conduct device provisioning or set up. Device provisioning is a highly complicated and time-consuming process. It is highly recommended you hire professionals.
Switching over or integration means using a new or different content management system (CMS) with your current displays. It's usually a pretty simple process. Just ensure the new digital signage provider's software is compatible with the hardware you already have.
Digital signage software has intuitive and friendly interfaces, so they are easy to use. However, it can be confusing if you have never used it. You will have to factor in training costs or hiring new employees who are familiar with it.
Simple training might seem the cheapest and best alternative, but you must remember that you need fresh content. The employee must be competent enough to churn out creative, informative, and new content to keep your audience captivated. They would need to know a lot about graphics to compile fonts, design assets, and stock photos on a regular basis. Luckily, there are plenty of such resources online for free.
When your service provider is through with installation and the system is running, you have to consider running costs such as maintenance and repairs. You will pay for maintenance and troubleshooting, so you will need standby staff to take care of any problems. They should be knowledgeable enough on such issues; otherwise, your digital signage will face downtime.
You could potentially lose ad revenue or inconvenience your target audience who need information from the displays. That is where 24/7 support for your digital signage needs comes in handy should you encounter any problems.
Digital signage costs for maintenance depend on the scale and complexity of your installation. Monthly subscriptions may seem expensive, but they will save you from many headaches in the long term.
It's easy to overlook digital signage hardware's lifespan, but it is vital when working out the TCO.
From expected degradation to wear and tear, you should expect your hardware to last around five years. Additionally, there will be upgrades, repair, or replacement fees along the way. There are options such as Signature Care that include tech refresh - where hardware gets replaced every 3 years for free.
That is a lot of hardware, software costs, and monthly licensing fee costs to keep in mind when creating a budget for digital signage. Digital signage costs can add up, so it's best to dip your toes before splashing out on components. You should test out any solution's capabilities to ensure it fits your needs before buying. Ask for a demo from digital signage providers to get a free demonstration of their platform's capabilities.
For business owners, the smart move would be to use a digital signage solution integrator's services. They know how to assess your needs and provide solutions that solve your digital signage needs. Additionally, they know all industry players, from software and content developers to media player providers. It means they will find you the most cost-effective solution for your budget.
