You may wonder what the actual cost of digital signage is and if it does offer an excellent return on investment. Both are excellent questions; after all, digital signage should be treated as a business expense.
If you want to get the most out of your investment, it’s essential to understand your projected costs and how you can keep those costs as low as possible while still achieving your digital signage goals.
That said, the cost of digital signage varies. The type of business you manage and factors such as the type of hardware used, the software selected, extra features desired, the installation process, and the maintenance required can influence the overall cost.
For example, a salon business’s digital signage needs will differ from a corporate business’s specific digital signage needs.
While getting started with digital signage may seem straightforward, it requires careful planning to ensure seamless and effective integration.
But do not worry; in this piece, we will provide all the information you need on what it’ll cost your business to get started with digital signage, no matter your budget and goals. We will also share why it matters to your digital signage strategy.
The costs of the components of digital signage
The cost of implementing a digital signage system encompasses several components, each of which contributes to the final cost.
Below, we will do a detailed review.
Hardware cost
The hardware of a digital signage configuration includes a display screen, media player, cabling & display mounts, etc. Let’s have a quick review of each.
Display screen
When you decide to invest in digital signage, one of the first factors to consider that impact cost is the display screen. Display screens can be expensive depending on the type, manufacturer, size, and resolution. They are available either as consumer displays or commercials.
Typically, commercial displays are more expensive than the consumer option. For example, a household smart TV will be more affordable than a commercial-grade screen for digital signage applications.
However, the good news is that if your budget can’t accommodate investing in a commercial display screen, you can repurpose a household smart TV for digital signage purposes, and it will do the job perfectly.
Still, there are some things to remember when considering consumer screens over commercial-grade types. They can’t stay on for 24 hours; they need at least 30 minutes of cooling every 9-10 hours.
On the other hand, commercial-grade types are designed to be more durable and come with more extended warranties. Warranties are essential because they are a safety net for unforeseen equipment failure repair costs.
Finally, commercial displays typically have more processing power and faster refresh rate, which is vital for displaying more intensive graphics at high resolutions. This can impact how successfully your signage conveys the information, especially if you want to employ a lot of video imaging.
With that said, a display screen will range between AUD 447 and over AUD 2982, depending on whether it is a consumer- or commercial-grade model.
More advanced options, such as a video wall with extra features like touch screens and full-wall-sized displays, are also available but understand that this will generally lead to a higher cost in your signage investment.
The average starting price range for a 2×2 video wall of 49” LCD monitors is about AUD 28,337.
Related reading: How to Turn Your Smart TV into a Dynamic Advertising Tool with Luna Screens.
Media player
A media player is an important piece of hardware in a digital sign. It is what lets you stream or display content on the screen. Hence, ensure you get one with sufficient memory, processing speed, and features.
In most advanced display screens, the media player will be built into the unit, and just like displays, commercial-grade players are made for long play times and come with extended warranties.
Options for commercial digital signage, such as the Nvidia Shield HDR Media Player, cost around AUD 298. Another commercial-grade player with more performance strength, such as the AOPEN CHROMEBOX Commercial 2, costs about AUD 47.
However, market options are also frequently utilised for most use cases. Among them are the following:
Fire OS: AUD 44-AUD 119
Raspberry Pi: AUD 52-AUD 238
Chrome OS: AUD 223-AUD 1,044
Windows: AUD 74-AUD 447
Android: AUD 37-AUD 1,044
You can replace a media player with a mini PC, depending on how your digital sign is configured. Note that this will be more expensive, but it will allow for more intricate and advanced applications.
Mini PCs range in price from roughly AUD 149 for cheap devices to AUD 2,088 for sophisticated ones.
Cabling
If you want a wired digital signage system, you need to think about cabling. Ensure you use high-grade cables, which are more durable and improve transmission speed.
Cables are inexpensive, as a 4K Displayport to HDMI Cable costs only around AUD 19 for 6 feet of cable.
However, visible wiring can be an eyesore, so you may want to try concealing it behind walls, which is a costly renovation endeavour. In this case, you may want to look into wireless presentation systems to skip cabling technicalities and expenses.
Mounts
It is challenging to estimate display mount costs because they are heavily dependent on where you intend the signage to be installed.
For instance, for displays mounted higher up on the wall, an angled mount will be required. In other circumstances, moveable mounts with hinged arms may be required.
In every scenario, going with excellent quality makes sense. Plus, you’ll want to pick a mount that is as low profile as possible.
As we said, display mount costs can be challenging to estimate with several options available, but to give you an idea, commercial mounts can cost well over AUD 298, and consumer mounts can cost between AUD 74 and AUD 223.
Installation cost
The cost of installing digital signage will vary greatly depending on the provider, location, the size of your signage system, and the intricacies involved.
As you should know, there’s a big difference in price between installing a simple 55’ wall-mounted display vs. an entire wall-sized screen.
A simple digital sign installation cost is around AUD 298. While installing larger, more complex projects can cost between AUD 2,982 and AUD 14,914. Thus, getting two or three price estimates is helpful.
Talk to multiple installers and compare prices to find the best.
Software cost
The software solution used is the platform for managing and optimising your content.
Typically, you should find features for creating, scheduling and creating playlists for your marketing messages, and others may offer extra features that allow you to customise templates for content creation.
Concerning cost, price will vary depending on the software provider and functionality offered by the solution. Some solutions are more expensive than others.
However, the critical thing here is to consider your needs and choose software that will deliver what you need, not just the one with the lowest price point.
Digital signage software can be cloud-based (SaaS) or installed locally. We propose the former so that you may entirely rely on the SaaS provider for backend maintenance.
Cloud-based solutions are available as a subscription service, with most providers employing a pay-as-you-go model in which you only pay for the services you use.
High-quality digital signage solutions pricing will generally start at AUD 10 per month for a single screen, and many go well over AUD 74 plus any other services you choose to use.
It’s not uncommon to find free digital signage software. Still, most are inferior to paid software, besides the hidden fees they may contain and the limited updates or support they offer, making buying a paid version less expensive and beneficial.
Providers like Luna Screens offer easy-to-use, low-maintenance, affordable, high-quality digital signage solutions for any business with no hidden costs or trial periods that surprise you when you renew.
Here is the pricing plan:
Free plan: AUD 0/screen/mo
Paid plan: AUD$3.99/screen/mo
Enterprise: Contact Luna Screens for a more tailored solution to your needs.
You may also like: 11 Cutting-Edge Digital Signage Software Solutions for 2024 and Beyond.
Provisioning cost
One area that requires the assistance of an IT professional is provisioning, which is the process of connecting and setting up your hardware so that it can be used for digital signage.
This process requires technical know-how on internet connectivity and device networking to provision your digital sign.
So unless you have the right in-house IT team to take on the job, you’ll probably want to outsource this job, which will roughly cost you AUD 372-AUD 522 per display and any broadband access costs.
However, if you use Android digital signage, you might be able to save money on provisioning. All you need is a screen, an Android device, and a Luna Screens account. It’s reliable, low maintenance, and can be set up in just a few minutes.
If you’re not a Luna Screens user, you can sign up for a free trial here and test-drive an easily customisable library of templates.
Content creation cost
The cost of creating content for your digital signage is also quite challenging to quantify because it will depend on the digital signage content you plan to communicate on your digital signs.
For instance, static images and graphics will cost less to curate than interactive touchscreen content.
Nevertheless, some digital signage solutions like Luna Screens have templates allowing you to generate digital signage content quickly, edit it, and personalise it to suit your needs.
However, if you need a far greater design and content creation need, you’ll likely need to engage relevant professionals, such as graphic designers, video editors, and copywriters, to curate your content.
You may also like: Top Graphic Design Tools for Creating Stunning Digital Signage Content.
Factors that affect the cost of digital signage
In the above section, we gave a cost breakdown of digital signage components. Here, we will discuss other factors that can directly or indirectly influence the overall cost of digital signage. They include:
Screen size, resolution and number of screens
We all know that a larger screen display with good resolution will likely command a higher price than a smaller one as it will deliver a high-quality visual for your marketing messages.
If you need more than one display screen, your digital signage cost will also increase as the more screen you need, the more your upfront cost is with regard to hardware.
Next, you should also note that most digital signage solution providers use a cost-per-screen model; hence, the more screens you have, the more you will pay in subscription. Therefore, selecting a solution that aligns with your budget and goals is essential.
Complexity of the system
Depending on your need, if you opt for more advanced digital signage systems, such as those integrating with external data sources or incorporating interactive elements, you should expect your total digital signage cost to increase.
Location and installation
If you aim to install your digital signage in remote locations or want specialised requirements, such as outdoor or curved screens, this may lead to additional labour and material costs.
Why digital signage costs matter
Digital signage offers many benefits, including decreased perceived wait time and increased sales and customer experience; it is important to evaluate the associated costs so you can make informed investment decisions.
If you don’t take the time to analyse your digital signage investment cost, it can lead to financial strain or hinder the adoption of a comprehensive digital signage strategy.
For instance, accurate cost estimations are essential for budgeting and ensuring you can meet the financial obligation required for the setup. This involves factoring in hardware, software, content creation, installation, and ongoing maintenance costs.
Next, when you are able to estimate the cost, you can accurately evaluate the return on investment (ROI) of your digital signage and the potential benefits realised, such as increased brand awareness, enhanced customer engagement, and improved sales conversions.
Is digital signage worth the investment?
The global digital sign market is expected to increase to $45.94 billion by 2030, with a compound annual growth rate of 8%.
Despite this robust outlook demonstrating the well-known value of digital signs, the question remains: is digital signage worth the investment?
Visual communication is becoming more popular in our environment. Having signage that effectively communicates your organisation’s message, promotes its products and services, and engages its target enough to convert them to customers has never been more important.
The best part is that it’s sustainable, scalable, and effortless to integrate into your existing marketing or communications plan.
Takeaway: Digital signage is worth the price
From this review, you can see that stating a fixed amount is not possible when assessing digital signage costs, as actual costs depend on several factors, including the type of hardware and software solution used, installation and maintenance costs, content creation costs, and more.
While the preliminary investment may seem high, digital signage is a cost-effective solution for businesses in the long run. It can increase your brand visibility, engage customers, drive sales for your business, and offer an excellent return on investment.
Considering all aspects of digital signage pricing and benefits is crucial before deciding. Choosing the best digital signage software for your business can enhance your brand’s communication and achieve your business goals.
Luna Screens is Australia’s top-quality, reliable, cloud-based digital signage solution. You can transform any screen into a powerful digital sign with Luna Screens. You can create, upload, schedule content and manage screens from anywhere using a desktop or mobile app.
The best part is you don’t have to be tech-savvy. It is designed to be intuitive and easy to use, even if your team comprises people without a technical background.
With our customisable templates, you can easily manage your content even with no technical skills. Plus, we guarantee optimum uptime.
Get Started with Luna Screens today to create and manage your digital signage content!