Signage is the most effective form of advertising for your marketing dollar.
Signage is so ingrained in our collective minds that most of the time we go about our daily activities without noticing they are there. They direct us, remind us and sometimes even inspire us to make decisions. For local small businesses, signage is a priceless way to establish an identity and gain new customers.
Signs attract new customers and alert them that you exist. Recent surveys find that many customers would have never found a business unless they had seen its sign.
Signage help your business be more profitable.
Installing a sign, banner or yard sign can increase business as much as 16 percent. It’s a fast, easy way to plump up your bottom line without breaking the bank.
Small business signs are a vital part of the community.
Many new people move into your neighborhood every year and your sign encourages them to come to your business. Over 85 percent of your customers are neighbors (they live or work within 5 miles of your business).
Studies show that consumers are more likely to remember your business from your signage than other marketing methods.
The Benefits of Signs
Signs bring in new customers
The question was asked: How did you learn about us? The responses were: 50% On-Premise Sign, 33% Word of Mouth, 9% Newspaper, 6% Yellow Pages, 1% TV, and 1% Radio. Signs attract half of a start-up business’ new customers, 35% of passersby wouldn’t know your business was there without a sign.
Signs Increase Profits
Studies show that adding or changing a sign directly improves sales revenue. Here are the average increases in sales revenue for the Fast Food Industry: If you add one monument sign 9.3% increase and if you add a large pole sign (144 sq. ft.) 15.6% increase. And for the Retail Industry: If you add a large pole sign (144 sq. ft.) 8.6% increase, if you add a chain identity to the plaza identity sign 7.7% increase, if you add two new directional signs 8.9% increase, if you replace storefront wall sign with larger sign 7.7%.
What can signage do for you?
Research indicates that 85% of your customers live or work within a five-mile radius of your business. 17% of Best Buy’s walk in customers did so because of a sign.
Percent of Customers That Stop on Impulse:
– Larger than 400,000 sq. ft. 20% on impulse
– 100,000 – 400,000 sq. ft. 25% on impulse
– Smaller than 100,000 sq. ft. 35% on impulse
Convenience Market 40% on impulse
Discount Club/Warehouse Store 20% on impulse
Fast Food Restaurant 40% on impulse
Sit Down Restaurant 15% on impulse
Service Station 45% on impulse
Supermarket 20% on impulse
Relocation = New Customers
13% to 20% of the population moves each year, which means you have 13% to 20% new customers to attract each year through signage.
How customers know about local businesses:
35% saw it while passing, 29% always knew, 14% word of mouth, 10% advertising, 6% all other, and 7% don’t know.
Signs Compared to TV & Newspapers
Billboard – A single on-site sign costs $.02 per one-thousand views
Newspaper – A 300 line newspaper ad costs $2.81 per one-thousand views and might only reach 53% of the market
TV – A single TV ad costs $9.82 per one-thousand views and might only reach 14% of the market
One Billboard – The value of on-site signage is equal to 24 full-page newspaper ads every year.