The Perfect Employee!
If I could increase your sales by 3%, would you hire me? What if I offered proof I could increase sales by 16%? How about if research showed my working for you would increase sales by 34%, would you give me a job? It gets better. I’ll work for you 7 days a week, 24 hours a day, 365 days a year and never call in sick, steal from you, and will never be late to work. While you’re at home enjoying family, I’ll be hard at work attracting 80% of the market and telling them who, what and where you are, effectively increasing your sales and profits from 3% to (in some cases) over 100%. Now will you hire me? Oh, I forgot to mention, I’m a sign. That’s right, a sign and those statistics are real.
The University of San Diego conducted a two-year study of 187 businesses and their signage. They concluded that the addition of any sign would increase gross sales by 3%. The survey also concluded that the addition of a pole sign would increase gross sales by 15.6%. With the right use of signage, you can increase sales in excess of 30% and in some areas over 100%.
The Value of Signage
Not everyone values signage. Signs are commonplace and we take them for granted. In fact, if you’re like most small business owners, you’re thinking one of three things:
Myth: My customers already know where I am so I do not really need a sign.
Fact: 85% of your customers live or work within 5 miles or your business but according to the Census bureau, 18.6% of the population relocates every year. This means every year you’re losing customers and need to replace them just to break even. The easiest way to attract new customers is with effective signage.
Myth: I already have a sign so what does this have to do with me.
Fact: But is it the right kind of sign? Is it visible, conspicuous, does it take into consideration size and location, color, amount of characters, speed of traffic and angle of interface? More importantly, is it working as hard as it can for you?
Myth: Do signs really make a difference?
Fact: The answer is yes. It’s not sexy or glamorous—it just works.
The ABC’s of Signage
The value of a business isn’t necessarily the location but how many people stop, come inside and do business with you at that location. And the reason they do that is due to the location of your sign. This is determined by the ABCs:
A) Attracts new customers— a five year survey of over 400 businesses with over 6000 customers was conducted. These businesses just installed a new sign and customers surveyed were there for the first time. About 49% said they were there because of the new sign. To grow a business, you need to grow your customer base.
B) Brands the business site—Signs build “top-of-the-mind“ awareness. Which businesses come to mind when reading the words hamburger, coffee, ice cream and home improvement. How about McDonalds, Starbucks, Baskin Robbins and Home Depot.
C) Creates impulse sales—Signs can be very effective in changing a customers buying habits. Best Buy found out that 17% of their customers didn’t plan to stop at the store but did so because of the sign. McDonalds has 26,000 locations and spends about 40,000 per sign for this very reason.
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