How to Measure ROI of Digital Wayfinding Technology
Anyone who has ever been lost in a large shopping mall—or worked in one—understands the negative impacts of poor wayfinding on guest experience. Insufficient wayfinding is especially troublesome in facilities like airports and healthcare centers, where patients and staff are already stressed. The added frustration of getting lost is enough to make a person dread returning to the facility ever again. Thankfully, there’s a solution.
Digital wayfinding technology has proven to relieve and prevent the frustration and confusion associated with navigating large facilities. The Mall of America is a great example. MOA’s previous wayfinding solution was print directories, which required guests to walk around multiple sides to find what they were looking for. Even though the directories were updated quarterly, they were frequently out of date with the mall’s 520 stores, eateries, and attractions. After introducing 22-inch interactive digital wayfinding displays, MOA saw the average “dwell time” from the directories drop from over three minutes to 30-40 seconds, which saved guests time and offered a better wayfinding experience.
But while the benefits of digital wayfinding technology for guests are easy to understand, proving the return on investment (ROI) of the tech can be complicated. Experiences do not really translate into a direct cost vs benefit analysis, which can be a problem when customers want to know the ROI before they invest. However, there are many things you can measure to prove just how effective the technology is.
If you’re interested in calculating the ROI of digital wayfinding technology, here are a few things to keep in mind.
Goals are Important
The first step in designing a digital wayfinding solution is identifying your goals for the technology. Are you investing in digital wayfinding to increase brand awareness? To benefit your employees? To convey value to your audience? Knowing your goals for your solution will not only help your provider determine what software functions and features are most needed by your end users, it’s also the best way to ensure a solid ROI. Because when you know your goals, it’s easier to understand how to measure your solution’s success in achieving those goals.
KPIs Can Help You Understand Effectiveness
If you’re focused on dramatically increasing revenue with a digital wayfinding solution, you may need to manage your expectations. While wayfinding technology certainly can boost sales and decrease operational costs, focusing on monetary objectives is limiting. After all, at the end of the day digital wayfinding is about enhancing user experience—the value of which can be huge.
Digital solutions can impact your facility and customers in so many different ways. They can cut down on time spent looking up answers to customer queries. They allow you to update media across your entire facility in seconds. They can double as emergency warning systems. They can simplify event management. The benefits are endless. Choose several key performance indicators (KPIs) that are not monetary-related, such as dwell time, guest inquiries, or customer satisfaction scores. This will help you gain a broader view of how effective your digital solution is.
Still want to calculate the effect your digital solution has on sales? Try comparing the amount and value of transactions before your digital solution is introduced to the same figures after the solution launches.
Choose Technology that Withstands the Test of Time
Digital wayfinding solutions have obvious advantages over traditional directories, which need to be manually updated and do nothing to enhance visitor and tenant experiences. With the ability to update displays, digital solutions also have a much longer lifespan. But exactly how long does a digital solution last? This is another area that can help you determine ROI.
In order to offer the best ROI, your digital solution must be able to evolve. Because what’s visually stimulating today may look outdated in five years, and content that’s months old is no longer relevant. Plus, as people use your solution, they may find pain points in the software. If you’re not working with a provider that’s willing to constantly update the solution as market trends and technical advancements develop, it will eventually become irrelevant.
If you’re preparing to discuss ROI of digital wayfinding with your software provider, make sure to ask them about support and maintenance. The right partner will stay connected once your solution is up and running. If their philosophy is to “set in and forget it,” keep searching!
We Build Real, Authentic Partnerships
When you work with Oppna Digital, you get a full-service partner. Our support model includes key metrics to drive continuous application improvement, so your solution will only become more useful and advanced over time. Interested to learn more? Please contact us today to request a demo.