What are currently the most lucrative ways to monetize a digital signage or DOOH network?”
The most lucrative ways to monetize a digital signage network today are through selling advertisements. To drive the most profitable campaigns, a network must have some or all of the following:
- Valuable audience
- Attentive/engaged audience
- Targeting capabilities
- Desirable geographic footprint
- Measurability/proof of performance/attribution
- Effective ad products
- Good content (news and entertainment)
- Clutter-free environment
Most advertisers are looking for a specific audience or audience type. This can be based on demographic, spending, psychographic, lifestyle, name and/or device. The network that can match all of these criteria will drive the best CPMs. Digital networks that captivate and engage an audience better than, or just as good as, traditional media options can drive significant revenue. However, the ability to target specific audiences translates to higher pricing for the network and more effective results for its clients, which leads to loyalty and long-term value.
Digital networks that cover top U.S. markets or have a specific geographic footprint are more likely to meet advertiser requirements, which is one of the best ways to guarantee monetization. Beyond that, a digital network’s audience ratings measurement is crucial to attracting advertising dollars and maintaining ongoing advertiser relationships. Networks that provide campaign efficacy measurement and attribution are certain to improve renewal rates.
Advertisements shown on the network need to be innovative, disruptive and interactive to get customers excited in today’s environment. In addition, networks that constantly innovate and improve their best-performing ad products will help drive customer success. Media that provides content that is valuable to viewers will drive better viewership for sponsors and advertisers. To enhance content offerings, networks should consider taking native content and work towards providing timely content that is updated regularly.
Another way to help drive ad dollars is by programming a clutter-free environment. Advertisers want exclusivity and/or separation from other advertisers in order to have their messages stand out. Too many ads in a loop can create diminishing returns with viewers.