Your product is the best on the market. It is reliable, reasonably priced, and answers a need within your market. Your competitors measure up. However, if your business is invisible or your brand not established, how can you make the money you need to continue and grow?
Business signs increase your visibility, but do they increase your marketability, clientele, and profit margins? Put simply, yes.
Business Building Signs: A Matter of Simple Math
Establishing a new brand in your immediate area can be difficult. Up-to-date research from the International Sign Association tells you that onsite business signage, especially outdoor business signs, account for at least 50% of sales. At the same time, these signs cost about 2 cents per every 1,000 views. That level of visibility through a television ad costs 491 times more than that! Clearly, your most effective option is also your cheapest. In addition, the corporate surveyor FedEx Office reports that 76% of new customers (that’s nearly 8 out of 10) walk into companies they have not visited before, solely because of their business building signs.
You know business signage ideas account for a great deal of profit. Visual and print advertising accounts for roughly 43% of your profits (compared to social media, at a rate of 42%). 68% of consumers report being deterred from businesses that lack signage. In other words, without large, attractive signs to introduce your business, you may get less than one third of the customers you could.
These statistics should you one thing: a business needs good signage to survive and grow!
Is One Type of Signage Better than Another?
While there are temporary signs such as posters and vinyl banners, permanent signs have proven to be far more effective. However, what type of sign will suit your business the best?
Depending on your proximity to major traffic, your business hours, and the image you want to project to the public, certain types of signs may be better than others. The statistics above tell you signage is absolutely essential. But, do you need outdoor signs, indoor business signs, or even lighted business signs?
Outdoor vs. Indoor
Outdoor signs help inform the public about many things, including your business’ location, its branding, and its level of success. For example, a small, hand-lettered sign on simple painted wood might indicate to customers that your business is either just starting out, or not doing so well. At the same time, a large, garishly colored sign may make customers think you are trying too hard to make a sale, and therefore have something to hide about your product.
Over all, an outdoor sign must be memorable in two ways. First, it must remind potential consumers of your business’ name. Second, it must indicate that your product works or your service is consistent.
Indoor business signs are your first step to closing any deal. While smaller than their outdoor counterparts, an indoor sign should be more complex. Indoor signs are where product descriptions, photographic backgrounds, and taglines become most effective. Think of an indoor sign as an employee who greets a potential customer at the door. An indoor sign immediately begins to market your product.
Both outdoor and indoor signs are essential to how you brand your business. They are your first impression, your chance to put your best foot forward.
To Light or Not to Light?
Lighted business signs answer two of your needs. For businesses that need to increase their name recognition or are open late at night, these signs increase visibility. For businesses having special events, sales, or are just starting out, a lighted sign can be just the introduction you need to the local market. Among certain business like auto dealerships, furniture or carpet stores, and overstock outlets, bright lights are par for the course. While these signs can be extremely effective in driving up your clientele in a short amount of time, they can easily be overused.
This is especially true of portable lighted signs. While they can be incredibly effective in drawing attention to your business from a faraway location, they can quickly lose their emphasis. Lighted signs may also be banned in certain locations by city ordinance. Still, if you find the right balance, they can be one of the most effective of your marketing tools.
Now you know the numbers and the value of business signage. Contact us to further your research into the best visual marketing strategy. To gain more insight and improve your business.