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.
What Does Your Company Stand For?
Branding your company or service can be a great asset. Brand-driven advertisers understand this very well. They understand the emotional substructure of good advertising. If you don’t stir the heart, goes the reasoning, you can’t stir the pocketbook. That’s why Super Bowl advertisers will work hard and spend millions to leave you laughing. Or crying. Or angry.
To build your brand, begin by thinking through exactly what it is you sell and why customers choose your product or service. Identify the promise you are making to your customers. For instance, you may manufacture vacuum cleaners, but what you’re really selling is a better way to clean house. You must also define what makes your product more desirable to the customers you’re targeting than that of your competition. With a strong brand, you don’t have to sell nearly as long or as hard. Customers know what you stand for before the pitch or proposal.
Here’s how to give your company the kind of brand identity that will help drive sales:
Define Your Personality
A successful brand becomes an emotional bond that builds customer loyalty. A brand includes your logo, color scheme, taglines, slogan, design elements and more.
You want the company personality to be easily identifiable at every customer touch point, from word of mouth to final sale. Make sure that every bit and byte of packaging, presentations, communications, and marketing speaks with a brand-consistent look and voice. That includes vehicle graphics, trade show displays and booths, storefront or office signage, banners and web ads, print ads, posters and point of purchase displays, in other words, everything.
Get Inside the customer’s mind
You need a serious fix on what will propel people to buy so you can gear your messages accordingly. Ask yourself: what need will you fill for the customer? What problem can you solve? How can I make it easier for them? Once you know that, you know what will trigger a market response.
But defining what that brand is and what it will mean to your customers is complicated. When counting your abstract assets, for instance, try putting the customer relationship AHEAD of brand on the ledger sheet. And the product? Channel money into making it the best it can be, both in quality and in the manner it satisfies your customers’ deepest desires. Let those two things drive how you communicate with your market, and youll have a powerful branding strategy that pushes the numbers up on your balance sheet.
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