When you think about the complexity of a business—from the physicality of the brand itself to the operational aspects that keep it running—it can be easy to overlook single components in favor of seeing the big picture. And while big picture prospects might be ideal to look at, it bodes well to remember that single business attributes can play a tremendous role in how that big picture is shaped.
Take business signage for example. Could a simple sign really be the chief driver of business, the identity of your brand or the selling point for potential customers? Absolutely! Take a look below at the power a good sign can wield and how having the right sign could allow your business access to this type of clout.
A few facts on signage
First things first: what’s the purpose of a sign? To bring in customers? To create brand awareness? To let potential customers know you exist?
If you said “all of the above,” you’re right: a good sign is a multipurpose tool that your business can and should use to its advantage. Take a look at some key pieces of data in regards to the different functions of a good sign, as compiled by signs.org:
– A good sign has been proven to attract up to 50 percent of a new startup’s initial customers.
– Roughly 35 percent of customers report that seeing a sign has alerted them to the existence of a business without any prior knowledge of that company.
– Customers living within five miles of your business will likely see your sign an average of 50-60x per month.
– The impressions made by one sign are equivalent to 24 full-page newspaper advertisements made annually.
The remarkable statistics keep going. In the end, the message is this: a business with good signage is going to see impressive returns on their investment in that sign, whether it be in the form of quality advertising, cohesive branding or persuasive allure.
A case study in signage success
Statistics are all well and fine when it comes to proving a point, but what really convinces people is an example they can relate to. And, when it comes to making an example of signage that has dramatically impacted the growth and perception of a business, there’s absolutely no substitute for a closer look at the iconic Golden Arches of McDonalds.
No matter what country you travel to, what language you speak or what your understanding of the business world may be, everyone understands immediately what the Golden Arches mean: they stand for Big Macs, French fries, chicken nuggets, coffee and more—everything McDonalds is selling and everything their brand revolves around. Today, the Golden Arches are widely considered the most recognized brand symbol in the world.
What does having the biggest and best signage get you? In the case of McDonalds, the Golden Arches are responsible for pulling in more than $21 billion each year—more than the entire economy of Vermont! All in all, the value of the Golden Arches rings in at around $85 billion, making it more than just the most valuable fast food brand by a wide margin, but one of the most valuable brands regardless of industry!
Now, it’s fair to say that McDonalds has done a lot more than just put up Golden Arches to achieve the success that it has—but it is fair to say that the brand’s iconic sign is largely responsible for its continued notoriety. Think of it this way: would you pull into a drive through at an unmarked building if you were craving a hamburger or would you keep your eyes peeled for those Golden Arches?
Harnessing the power of good signage
Signs come in all shapes and sizes—what makes a good sign effective is its appeal to the customers you’re trying to garner. Make sure your sign speaks to your target audience, that it communicates your business’ values, that it’s proper and professional, and that it’s clearly recognized. Paying attention to your sign—even if it is only one part of your overall business—means setting a foundation for growth that can be traced back to good signage.
If you’re designing a new sign from scratch, take the time to get it right and put in the effort to make sure it’s a sign that you can be proud of. If you already have a sign proudly hanging over your entryway, go outside and take a look at it—would you shop at your store based solely on the signage? Evaluating this singular component of your brand could have ramifications that transform your business for the better.