At a minimum, your sign should, A) Attract new customers, B) Brand the business and C) Create impulse sales.
Research indicates that 85% of your customers live or work within a five-mile radius of your business. But according to the U. S. Census Bureau, 18.6% of the population relocates annually. Which means every year you’re losing customers that you must replace with new customers, just to break even. Who’s in business just to break even?
If you only want to sustain your business then just maintain your customer base. But if you want to grow your business, you must increase your customer base. The quickest, easiest and most economical way to attract new customers is with signage. A 7% increase in sales can produce over 124% increase in profit. It is for this reason that attracting the new customer is essential to your profitability.
When your business is the first one that comes to mind as a place to find a product or service, you have achieved what is called top-of-mind awareness. Top-of-mind awareness is built and reinforced through repetition.
As mentioned, 85% of your customers live or work within a five-mile radius of your business. When driving to and from work, school and shopping, they pass your location some 50 to 60 times a month. Your sign should be designed so that it commands their attention every time they pass.
That’s how signs help build top-of-mind awareness and brand your business. To further this effort, make sure your sign is included as part of your overall marketing strategy.
Even though many of today’s consumers have the financial ability and desire to spend money, few have the time in which to do that spending. They’re certainly too busy to search for you or wander around comparison-shopping. They are more likely to stop at the first convenient place they see that seems to be selling what they need.
Who hasn’t been driving down the street, stopped at a store and made a purchase, merely because they saw the sign? Best Buy discovered that about 17% of its customers were people who did not intend to stop there but did so specifically because they saw the sign*.
First and foremost, signage can no longer be an afterthought. Businesses can’t afford to just hang up a shingle or throw up some plywood with painted letters. Let Graphic Communications help you with attracting new customers, branding and generating impulse sales. Contact us today.