Any smart business owner knows that it takes more than just a great product or model to operate a successful company. The true driver of success is sales, and sales stem from good advertising and branding. Focusing on these core competencies is a fundamental way to drive business that grows your bottom line, which in turn results in success.
The cornerstone of every successful brick and mortar brand is a great piece of store signage. Business signage is important for so many reasons—namely because it sets the tone for your storefront, creates brand association, attracts attention, and serves as an informative tool. There’s an immense amount of importance placed on your business’ signage.
Let’s take a look at 8 truly eye-opening figures that illustrate just how integral business signage is to store success. Keep these facts in mind the next time you’re looking up at your own business’ sign:
- When surveyed, exactly 52% of in-store shoppers named “on-premise signage” as the reason for their visit. Simply put, it means they saw the sign and decided to stop in! Your sign could result in half of your store’s foot traffic on any given day.
- Studies show that good signage directly boosts a business’ profits. Monument signage can drive sales by 9.3%, pole signage can add up to 15.6% to your bottom line and larger storefront signage may boost sales by up to 7.7%.
- The average storefront sign is seen 50-60 times per month by anyone living within 5 miles of your location. This could be responsible for as much as 85% of your monthly walk-in sales!
- Business signage is your foremost advertising tool. Seeing a sign is far and away the biggest reason customers know your business even exists. 35% of shoppers surveyed cited a sign as the reason for knowing about a local business.
- It’s estimated that a good business sign is as effective as 24 full-page newspaper ads. Consider this comparison in a cost sense and you’ll get an idea of just how powerful on-premise business signage can be!
- Looking for new customers? About 12%of people move each year, which means you have an annual opportunity to capture a portion of these people as new customers via attractive storefront signage.
- If you think your signage needs an upgrade, you might be right. One study showed positive increases in business after changing the design or enhancing the visibility of signage. This includes boosts in overall sales, transactions, and profits, with an average increase of about 10% across the board.
- Finally, let’s not forget that your investment in good storefront signage is one that will provide 24/7/365 benefits to you. It doesn’t matter what season or time of day it is, your sign will be prominently displayed as a marketing tool at all times.
All of these studies—conducted by major organizations like the International Signage Association and reputable institutions like the Economic Center at the University of Cincinnati—point to the same conclusion: there’s no substitute for great business signage. If your business is lacking effective storefront signage or is overdue for enhancement or upgrades, it’s time to start thinking about how your bottom line may be impacted. Consider the above stats and ask yourself if new signage could give your business a reinvigorated sense of success.
Signs attract half of a start up business’ new customers! 35% of passerbys wouldn’t know your business was there without a sign.
An On-premise sign attracts 17% more customers than word of mouth and over 40% more customers than Newspaper, Yellow Pages, TV, and Radio.
Studies show that adding or changing a sign directly improves sales revenue.
- Adding one monument signs adds 9.3% sales revenue
- Adding a large pole sign adds 15.6%
- Adding a chain identity to plaza identify signs increase revenue 7.7%
- Adding two new directional signs increases revenue by 8.9%
- Replacing a storefront wall signs with a larger sign increases revenue 7.7%