All smart business owners are aware that a successful company is driven by more than just a great model or product. A successful company is driven by its sales, and sales can increase through effective advertising and branding. These core techniques are fundamental to driving your sales and increasing your chances for a successful business.
The foundation of any successful brick and mortar brand is built upon well designed store signage. Business signage works effectively by establishing brand association, setting a tone for your store front, drawing people’s attention, as well as working as a form of visual information. This places a great deal of importance on your company’s signage.
Let’s explore 8 facts that illustrate how business signage is key to a company’s success. These facts are important to remember for the development of your own business sign.
- According to a survey, 50% of in-store shoppers claimed that “on-premise signage” was the reason for their visit. This simply means that by viewing the store sign, they decided to drop by! Your sign could be the reason half of your in-store customers are there.
- Research has shown that proper signage can directly boost a company’s profits. Larger storefront signage can drive sales by 7.7%, monument signage can boost sales by 9.3% and pole signage can increase sales by up to 15.6%.
- A typical storefront sign is viewed 50-60 times per month by anyone who lives within 5 miles of your location. This fact alone could be the reason for up to 85% of your monthly walk-in sales!
- Business signage works as your key advertising mechanism. The biggest reason customers know your business even exists is by seeing your sign. 35% of surveyed customers stated a sign was the main reason they knew about a local business.
- A good business sign is estimated to be as effective in marketing an organization as two dozen full page, newspaper ads. This comparison should be considered in a cost sense so you’ll understand the idea of how powerful on-premise business signage can be!
- Want to attract new customers? Approximately 12% of people move each year, meaning that you have the annual opportunity to utilize your storefront signage to capture a portion of these people as new customers.
- If you look at your signage and think it needs to be refurbished, you are probably correct. A recent study demonstrated positive increases in business after enhancing the visibility of the signage or completely recreating the design. This includes an overall boost in sales, profits, and transactions with an average increase of about 10% across the board.
- Lastly, you should also remember that investing in good storefront signage will provide you with year round, all day long benefits for your business. Your sign is ever-present and representing your business, either positively or negatively.
Facts originated from:
- Census Data on U.S. Citizen Mover Rates Since 2008
- UC Research Examines the Economic Value of On-Premise Signs
- Signs as Marketing
- Signs: The Bottom Line