The use of digital displays in the retail and restaurant space is nothing new, for years retailers have been using digital displays to share content with consumers about their products and services, however we believe that in many cases its' and underutilized channel to reach consumers with relevant and even personalized content. Additionally, in many cases retailers use this channel, however have little to no insight into the ROI they gain from it.
Traditionally, digital displays and menu boards retrieve their content from a Content Management System (CMS) and use a time based schedule to display content that has been designated for specific locations and day parts. While that provides some basic capabilities, it is well recognized that this approach also carries a few challenges:
- It is inefficient and in some cases 'wastes' media
- There is not direct means by which to measure ROI
- Annoying to consumers when it's the content is not relevant to them
- Provides no real consumer personalization and/or contextual considerations (weather, local events, sports scores, etc)
To address these challenges, the Plexure platform uses machine learning, real-time contextual data, and personal engagements with consumers (when appropriate) to dynamically change digital display content to optimize business objectives, make the content more relevant to consumers (or even specific consumers) and measure the impact of that content at the Point of Sale (POS) for a true depiction of the ROI.
At Plexure, we look at digital displays and how they are being utilized on a maturity curve.
Level 1 - Most retailers use their digital displays to schedule content in the CMS based on day parts such as breakfast, lunch, dinner
Level 2 - Intelligent scheduling may use transactional data to adjust the scheduling of content
Level 3 - Plexure’s Intelligent solution enables uplift / cross sell, profit optimization and dynamic pricing strategies to be deployed as well as a channel by which to directly interact with individual consumers (in conjunction with beacon for example)
Spanning these levels of maturity our platform can offer different levels of enhancers and provides the retailer the benefit of being able to use a single platform to support all three levels.
Level 1 - Scheduled CMS
In this case, Plexure can run the scheduled content via the CMS in the traditional manner, however we can also offer mechanisms to change that schedule dynamically based upon any type of schedule.
Level 2 - Intelligent Scheduling
Here Plexure intelligently selects content that drives more sales than the generic predecessors. POS data and contextual data, such as weather, can be used to make the in store advertising more relevant. Plexure measures the sales uplift at stores with the new intelligent screens and compares it to control stores showing ROI.
Level 3 - Plexure Machine Learning
At this level Plexure uses basket analysis and transaction data to identify to identify best up-sell, cross-sell and complementary items. Optimizes profitability by importing product contribution margin data to display highest contribution products and promotions. The ability to deliver store based dynamic pricing based on agreed price ranges and benchmark store performance. This is also the level at which you can also consider using some of the displays to actually engage specific consumers with content that is relevant and meaningful to the individual consumer (personalized).
Each deployment model is unique and will vary based upon specific requirements, however a basic depiction is shown below. In this model, Plexure has the product data, the necessary media, weather data, and POS transaction data. It then utilizes machine learning to determine the best schedule and then feeds that to the CMS for presentment to the actual digital displays.
As with other mediums, digital displays offer a number of different deployment options, to find out more or to determine the best strategy for your organization, don't hesitate to contact your Plexure representative or our support team.