Helping visitors doesn’t have to be just a cost. It is possible to earn revenue with 3D Wayfinder software and you might be surprised how profitable it actually is. It is like getting 200 m2 rental space with minimal investment. Below we present in more detail how it is possible to earn revenue with wayfinding.
Digital signage is developing at rapid speed. Besides more and more advertisement screens, there will be large LED displays, self-service terminals, 3D hologram projectors etc. Main content of course are advertisements. But the case with most of them is, that they are just like TV advertisements – people know how to ignore them and targeting is bad.
Advertising with wayfinding software can be different. It is somewhat similar to targeted ads in search-engine: you type the keyword and ads with this keyword will be shown first. Difference between just targeted ads and Wayfinder is, that while targeted ads could be good for you, they sometimes yield inferior results. When you search some company and get their advertisement first, it is useful, it makes you just click on that add. When you look something specific and get 5 ads first, then it is not so user-friendly at all. Wayfinder aims to do differently.
Wayfinding software is not search engine and would simply help to find what you are looking for: shop, brand or product category. Our targeted adds are bonus for your search – get best meal or find a shop with better discount. Even if you are looking for an exit, you might find a nice shopping deal when exiting the mall.
Different advertisement options
3D Wayfinder has different advertisement options. Besides traditional banner ads there is also a possibility to show advertisements on map, even on the 3D map:
Advertisements can be also land-marks. For example, you can be guided around the pizza place and at the same time you will see the daily pizza offer as an advertisement.
Besides improving advertisement features, we are working with technology to show advertisements in augmented reality (AR). It means that you can see the path on your mobile device camera screen and at the same time see offers and promotions, pointing to the right shop or place.
Wayfinder ROI calculations
Ok, lets talk about the numbers. Each shopping mall is different and rental-prices and revenues differ by a country. For specific calculations, please contact our sales department. Following numbers are rough estimates.
Let say the initial cost for wayfinding is following:
- Wayfinding screens with set-up (5 screens) – 15 000 euros
- Wayfinding software with maps – 5 000 euros
- Printed QR stickers, advertisement for tenants, labor cost – 5 000 euros
In total the costs will be around 20k euros. It is quite a small amount, comparing to expansions of the mall building, creating new inner-walls or setting up large LED-screen.
Now let’s say that there are about 100 tenants in shopping mall. Some of them might be larger anchor-tenants. If each tenant pays 5 euros per day on average (it is not a large amount in comparison with search engine adds that might cost 1 euro per visitor). This means only 5 clicks per day (when taking 1 euro per click). Besides, visitors will certainly spend more money while in the shopping mall, opposed to just surfing in web.
It means 5 euros (average amount spent by tenant) multiplied 100 (number of tenants) makes 500 euros per day and about 15 thousand in month. This means that the ROI of wayfinding software is only a little-bit over a month. There are not many investment options with that good profitability!
When we take rental price of 15 euros per square meter, this additional 15 thousand means that shopping mall gets the same fee as renting out 1000 m2. Building additional 1000 m2 is probably more expensive that 1 million euros. This means using wayfinder solution with advertisements is as profitable as additional 1000 m2, but instead of costing 1 million, it only costs 20 thousand.
Following figures are illustrative and depend on type of the building (mall), location, visitors’ profile, tenants etc). To calculate ROI based on your project, please contact our sales team.