Will digital signage businesses survive during this economic downfall?
This question has been on my mind this past week and I’ve been wondering whether digital signage businesses have been impacted from this economic downfall.
After speaking to several people about this topic I came to the understanding that out of all the departments in a company, the marketing team would be the first group to go. The marketing team generally spends money to make money so this is one of the main reason why a business would strategically decrease the head count of this department. What this may potentially mean for digital signage companies is that less marketing people would look for spending money in deploying digital signage solutions even thought the solution may increase sales and profit (needs to be qualified and quantified).
We haven’t felt the wave yet in Australia but I’m sure that it will hit us any time soon.
What are your thoughts on this? Visit the digital signage portal forum to discuss further.
About Our Sponsor: Advertise Me
Advertise Me is a privately owned Australian company specialising in all aspects of digital signage solutions.
Our team of highly skilled professionals is able to introduce innovative ways for businesses to communicate with their intended audiences for a variety of purposes including informing, educating, entertaining and selling.
You can expect us to:
- offer the most affordable and cost effective solutions tailored to your specific business needs.
- provide you with concise and accurate information and will ensure that you understand and are comfortable with our proposals.
- strive to make our clients happy and successful.
We have partnered with a number of key reputable organisations and will continue to build further partnerships to deliver the most effective solutions for our customers.
Visit our website at www.advertiseme.com.au for more information.
Tags: economic downfall, marketing department, portal forum
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October 21st, 2008 at 5:07 pm
We’ve been informed that two companies have gone bust:
Reactrix – this a USA based company which provided interactive digital signage
Novax – this is a French digital signage company in Pharmaceutical industry
We’ll add more to the list as we get more information sent to us.
October 21st, 2008 at 10:02 pm
The current economy is obviously a challenging time for the advertising sector in general which will have a high impact in the digital signage space. Like in any bad times there are also opportunities for many niche companies that are able to provide good value. If digital signage media owners in the Out Of Home sector who are able to provide low rates and good value (High visibility) as compared to other traditional mediums like TV, Print & Radio. With reducing ad spends (There is talk of ad budgets getting reduced by 50%), ad spenders will look at alternative mediums with good visibility. The overheads and costs are low as compared to other traditional mediums and this should help the digital medium to gain more prominance amongst ad spenders also.
November 2nd, 2008 at 11:16 pm
In the past two weeks, I’ve noticed that several businesses in Australia have increased prices on their products. I hope prices will come down in the next couple of months as it may now be more difficult to win clients if prices are high.
November 4th, 2008 at 10:05 pm
This week we received notification from one of our supplier that they will be increasing their product prices due to substantial increases in costs and the current economic climate – it was bound to happen.
We also received news that Wireless Ronin announced that it has reduced it’s workforce by 35. For the full article visit http://www.marketwatch.com/