When you were a little kid, did you ever have a lemonade stand? What was the first thing you did before you opened for business? Like most of us, you probably got your poster board and markers and you made the sign! Then you mixed up the lemonade and you were open for business.
In today’s busy retail landscape, the right sign can make all the difference.
LEARN FROM THE EXPERTS
A great resource is The Sign Research Foundation (SRF). The SRF serves communities and the greater economy through research on the unique commercial and social value of signs. It is the only research organization advancing the science, technology, design, placement and regulation of signs. We reviewed the comprehensive report titled Retail Signage: Practice to Increase Return on Investment and go back to their extensive research time and again. In this report, SRF looked at Restaurants, Apparel, Banks, Convenience Stores, Strip Shopping Centers, Downtown Districts, and Digital Signs. This report provides in-depth information that can be used for the same types of companies here in Orange County. In addition to the SRF report, we also used data from Signs.com.
BENEFITS OF RETAIL SIGNAGE
Hang your shingle
Without a sign, 35% of passersby wouldn’t know your business was there. Just like the lemonade stand, the on premise sign is what creates the initial awareness of your business. The old saying, to hang your shingle dates back to the early 1800’s when lawyers, doctors, and other businesses used shingles for signboards. When you walk along a sidewalk in a downtown area, you can often see little signs in front of businesses, hanging above the sidewalk.
Drive by visibility
Research shows that 85% of your customers live or work within a five-mile radius of your business. That means they potentially see your sign 50-60 times each month. Reaching the drivers may require different street side signage. Consider Bladed banners, yard signs and get added to your property monument sign.
EXTENDING YOUR BRAND
A sign can help reinforce your brand. Brand Equity refers to the value that a company generates from a product with a recognizable name, when compared to generic equivalent. From our lemonade stand, for example, do you offer generic lemonade or Country Time Lemonade?
A sign can reinforce the quality of a brand and signs have become a major part of a company’s overall marketing strategy. Being consistent and persistent with your brand, makes it memorable to the customer or potential customer.
Experience Design is the practice of designing events and environments with a focus placed on the quality of the customer experience. With Experience Design, elements of the customer experience are broken into touchpoints. In apparel, for example, consider entry into the store, dressing rooms, and registers. The touchpoints that are most important to the customer experience receive greater investment.
Studies show that adding or changing a sign directly improves sales revenue. Based on the sign, you could see an average increase in sales revenue from 7% (replacing your storefront wall sign with a larger sign) to 15% (adding a large pole sign).
WHAT SIGN IS BEST FOR YOU?
There are real, tangible business benefits of retail signage. “A business with no sign is a sign of no business.”
We are not using the poster board and markers of our Lemonade stand days, but there are many styles and materials available to match your style and budget – consider Sandblasted Signs, Illuminated Channel Lettering and Monument Signs.
With a variety of materials for both internal and external signage, let Starfish Signs help you choose the right sign that can make all the difference. Our signs will enable your business to Stand Out. Be Noticed. Get Results.