It’s nearing the end of the fiscal year! And for some of you that means you need to spend the rest of your budget or lose the difference in 2014. You know how you should use that money? Get new signage for your business! Okay, okay, so we’re a little biased. But really, let us show you that because signage is almost always an expense that ends up giving you a big return, spending budgeted money on signage is actually a smart use of your end-of-the-year moola.
- A lot of shoppers are impulse shoppers: According to the New York State Small Business Development Center, research from the University of California at Berkeley found that 68% of purchases were unplanned during major shopping trips and 54% on smaller shopping trips. Capitalize on these impulsive spenders by having P.O.P (point of product) displays in your retail stores.
Grocery stores are really good at using P.O.P displays. All the gum, candy, travel toiletries, lip balm and magazines are in P.O.P displays designed to make you want to impulse-buy them. Thanks to P.O.P displays, that lady might be thinking "Look how healthy I'm being with my pepper and lettuce! I deserve that Snickers bar as a treat. And it's only $1.50!"
- It’s been proven to drive sales exponentially: Marketing expert Steve Strauss wrote that “McDonald's spends, on average, $40,000 on signage for every store. Why? Because studies have shown that $40,000 can generate up to $600,000 in sales.” Yowza. That’s some serious cabbage they're making off of signage right there.
I wonder if McDonald's knows about our branding burger strategy?
- Even a little can go a long way: The University of San Diego performed a study that found that, on average, the addition of just one sign to a business can lead to a 4.75% increase in annual sales. This may not seem like much, but they’re talking about just one sign. Think of what multiple signs can do! Not to mention, if your company is doing well a 4.75% increase in sales can mean a whole heck of a lot. Cha-ching!
Bam! Look at the difference adding this one big outdoor sign made! Before, people driving by might wonder what that large building was used for, but now they immediately know it's a school for teaching music and dance.
- Identification signs are absolutely necessary: If you don’t have an identification sign (some sort of outdoor sign with your business’s name on it), then pretty much any other money you are spending on advertising is largely wasted. “A business with no sign is a sign of no business,” as the saying goes. Studies have shown that 50% of your customers will find your company because of your identifying sign. So be sure to make it stand out.
Imagine this picture without the sign. Would you know what this building was used for? No! It would just be a big brick wall. With the sign, you know right away what the building is used for and why you should go inside.
- It lingers with your audience: Even if people driving by your business don’t have an immediate need for your products or services, having a professional and highly visible sign will subconsciously leave an impression on them. For example, say that you run a pet store and a man who regularly drives by your business has no pets. He may not consciously notice your sign because he has no need for your products. However, this Christmas his sister gets him a puppy as a present. Surprise! Now he needs a leash, dog food, flea medicine, toys, a dog bed . . . etc. Where does he decide to go to get these things? The pet store whose sign he sees every day on the way to work, of course!
Someone's friend is having a baby shower and they're wondering where to buy cute baby clothes. Suddenly they remember that they've noticed the really cute signs for that retro baby store in downtown Franklin, TN. Ta da! This is where they go to look for onesies. See how that works?
- Here’s more proof if we haven’t sold you already: Just check out this case study of Frenchy’s Bistro done by the New York State Small Business Development Center. Their sign was tiny and illegible so most people just called the restaurant "the one next to the paint store" because the paint store sign was very prominent. After going from small, minimal, and difficult to read signage to adding a large illuminated sign, the sales of Frenchy’s Bistro increased by 16% in the first year. The second year sales increased by 32% and they were able to expand next door and add an even larger sign. Because of this expansion and improved signage, Frenchy’s gross revenue increased 322% in four years: this equates to over $823,000.
Have we convinced you that getting signage is a great way to spend end-of-the-year budget leftovers? Just try it! You’ll very likely bring in more sales and look like a marketing mega-genius. Who knows, maybe you’ll even get a bigger budget for next year :)
From banners to dimensional signs, vehicle wraps to vinyl wall graphics, standing trade show displays to architectural displays, we can make great signage happen for your company. Contact us by clicking the button below, and you’ll receive a free custom quote on whatever crazy signage project you can think up!
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