The Benefits of Signs is Clear...
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.