Earlier, we began a discussion about digital menu boards, covering some of the basics, including why restaurants are choosing to implement them. This week, we’ll take a look at the opportunity costs of waiting to deploy a digital menu program, and find out why investing in quality content is still one of the smartest moves you can make if you choose to deploy this solution in quick service restaurant environment.
Opportunity costs are a major factor to consider when weighing the pros and cons of an upgrade to digital from static menu boards. In other words, assessing how many opportunities may potentially be missed in several different areas due to a lack of willingness to move on a new solution. This includes during the wait for new static menu boards to be updated and created regularly, but it also alludes to the missed chances to generate revenue via digital boards that stems from their incredible flexibility and the multiple available integrations, from tracking inventory to changing specials on the fly when an item or ingredient surplus occurs. Finally, digital menu boards offer many more ways than static boards to engage or connect with customers while they wait, ultimately enhancing their experience by reducing the perception of wait times during peak hours and generating more opportunities to up- or cross-sell.
So what’s the key to making a digital menu program work? Well, we’ve all heard the old adage that “content is king.” And in the digital world, there are very few people who would be likely to disagree. Content is one of the biggest sales drivers around, across many different markets. The other highly influencing factor is user (or customer) experience. So it should be of no surprise that digital menu boards are experiencing such a surge in popularity in the quick-service restaurant industry. They combine two of the most powerful predictors of increased sales — the potential to create compelling content, while offering a positive, memorable user experience. So, provided that the product being sold is solid, whether it’s pumpkin latte or the latest super-duper-extra bacon cheeseburger, it stands to reason that digital menu boards could be a logical next step for increasing revenue in a quick-service restaurant environment.
Come back next week when we’ll talk more about digital menu boards in QSR environments, in particular why the upfront cost of implementation should not be as big a consideration as it might initially seem (hint: ROI). And if you’ve already decided that digital menu boards are right for your business, simply request a quote online or call (800) 628-3603 today and REDYREF will be there every step of the way to ensure your company’s unique signage needs and goals are met.