How to Maximize ROI on Your Rental LED Display?
ROI means return on investment, meaning how much benefit you can get from your purchasing. If you are looking for chances for your next event, than a rental LED display could be a great option. Placing this one for your event and business can increase your revenue and bring many positive possibilities – for example, higher ROI and impressive brand image.
Here you may have related questions – how can we estimate the ROI the screen will give to me? And how can we maximum the profit? This article will give a guide to you and, whether you are brand new to LED or a veteran, we believe this article can offer you some useful ideas.
1.ROI on Rental LED Screen – What Experts Say?
(1) Attracting 46% of first time customers
According to 12000 firms who had introduced LED display screen to their offices surveyed, around 46% of first time customers for a particular company said that it was the digital signage that encourage them to come in.
(2) Increasing turnover from 15% to 150%
According to the Small Business Administration of USA, these LED displays allow business owners to experience an increase in turnover from 15% to 150%! The digital LED screen is no doubt one of the most cost-effective method for advertising and informing.
The returns an rental LED screen can boost sometimes may beyond your expectation, and there will be nothing short of such a versatile screen can help attract more eyes.
2.Factors in Determining ROI
For calculating the ROI on your rental LED display business, you need to know 3 factors which determine the final result: net sales and profits, projected revenue and expenses involved.
(1) Net sales and profits: you can get this by comparing the results with the previous revenue before implementing the rental business and the current net sales and profits, maybe after one or two month, to figure out how much it bring to you.
(2) Project revenue: this depends on several factors such as how many people passing or cars driving by your business each day and how long the effective advertisement slot.
(3) Expenses involved: this is the total cost of buying and installing the LED display signs including the rental fee, electrical expenses and labor cost.
You can list these factors on a white paper in the left column, and the specific numbers of them in the right column to calculate the ballpark results. This can also be a little practise for you to learn to consider the potential cost and profits for your future business.
3.How to Maximum the Profits?
For this point, there are two directions you can have a try – displaying the content in the most effective way and increase sponsor revenues.
3.1Tips for Displaying Contents
The content itself is crucial, but how to present it in an effective and straightforward method is also an issue which is deserved to study. Here we provide several advice for rental LED display screen displaying:
(1) Emphasizing the important content
The 80-20 rule tells us the necessity of outstanding the key point, allowing us doing more with less. Just try to emphasize the most necessary sections on your rental LED signs, for example, select to make them font bold or adding some font shadow effects.
(2) Concise and precise
Keeping the content simple but logic can improve the reading experiences largely. Compared with content that contains many long and complex sentences, people will prefer short and thematic content. Make your text brief, big and bold will provide viewers with more readability.
(3) Using contrast
Utilizing contrasting colors and brightness between the foreground and background can impact your audiences especially when the viewing distance is long.
(4) Animated or static
Generally, moving pictures have more tendency to attract attention than the static ones. However, producing the animated content sometimes will cost you budget if you hire a professional material-making company. So if the contents you want to show are simple, instead consider using the static effect which may highlight your core point.
3.2 Increasing Sponsorship Revenue
The purpose of getting sponsorship is to generate revenue beside the ticket sales. For the questions some event planners may ask: “what can I do to improve the profitability of my activities to reduce the cost?” Then attracting some sponsorship can be one of the excellent choices.
(1) Know group portrait of your sponsors
To achieve this point we need to have an overall consideration based on serval questions:
a.What is your sponsor’s marketing objectives?
b.Who will be your sponsors? The cinema owners or a beverage company?
c.What you can offer to your sponsors such as higher brand images and loyalty? And which one can meet their specific goals?
d.Who are the decision maker of the sponsorship campaign? Is the communication relationship team or the marketing department?
e.When to launch the sponsorship campaign? And generally around a half of company will make their sponsorship decision in the last quarter.
Thinking about these questions can help you find out who has the biggest tendency to join your sponsorship activity, and what is the suitable offer with specific goals.
(2) Provide tired sponsorship LED display proposal
This means you can set the tiered sponsorship packages for sponsors to select to creat a win-win situation. For example, display a priority sponsor 80% of the time on the rental LED screen and give low-level sponsors 20% of the time, or you can provide them with print-only list. This tiered system can not only allow you to increase the total number of sponsors, but also offer different-lever sponsors chances to choose the most appropriate scheme for themselves.
(3) Engaging the audiences first, and advertise better
It is a vital tip to attract the event attendees’ attention to the LED screen, because the display advertising display may do little if there is even nobody has noticed it. Displaying engaging content, i.e. lucky draw on site, big game and camera feeds can captivate your audiences. This will create great options for you to display the advertising slot as the audiences are fully engaged, and larger possibilities will be here for maximizing your sponsor’s ROI.
(4) Asking your LED display rental company for advices
It is supposed your rental LED display company has a ton of ideas of different types of events, and can put forward some creative ideas and professional suggestions for you to maximize sponsor exposure time and select the perfect product for the events.
(5) Provide related services
Providing your sponsors with screen-related services can expand your line of business. For instance, you can provide your sponsor with material-making options with certain fee, or advertisement campaign planning.
4.Conclusion of LED Display Rental ROI
The rental LED displays can be indispensable for an event planner, and figure out how much of the possible ROI and how to find out sponsors as much as possible can offset your rental LED display cost largely and even gain you extra income. For this objective, we need to understand what will influence our ROI, and what steps we can take to improve it. Finally, just pick up a LED display rental company that is willing to assist you in maximum your sponsorship revenues may save you lots of work.
