What are the Benefits of Signage?
Research shows that changing or adding a sign will directly improve sales revenue. Below are the average rises in sales revenue for the industry of fast food: If you add a single monument sign you will see a 9.3 percent increase and if you add a big pole sign (144 square feet) you will see a 15.6 percent increase.
For the retail industry: If a store adds a big pole sign (144 square feet) they will see an 8.6 percent increase, add a chain identity to your plaza identity sign and you will see a 7.7 percent increase. Let’s say you add 2 new directional signs – you will see an 8.9 percent increase, and if you replace a storefront wall sign with a larger sign you will see a 7.7 percent increase.
What is signage able to do for you?
Studies indicate that 85 percent of your customers work or live inside a 5-mile radius of your company. Seventeen percent of Best Buy’s walk-in customers will do so because of its sign.
What are the percentage of customers which stop in on impulse?
- Shopping Centers: Over 400,000 square feet 20 percent on impulse; 100,000 to 400,000 square feet 25 percent on impulse; Under 100,000 square feet 35 percent on impulse
- Convenience Market 40 percent on impulse
- Warehouse/Discount Club Store 20 percent on impulse
- Fast Food Restaurant 40% on impulse
- Sit-Down Restaurant 15% on impulse
- Service Station 45% on impulse
- Supermarket 20 percent on impulse
Relocation will equal new customers
Thirteen percent to 20 percent of the population will move every year, meaning you have 13 percent to 20 percent new consumers to attract every year through signs.
Signs Compared to Newspapers and TV
- Billboard – One on-site sign will cost $.02/1000 views
- Newspaper – One 300-line newspaper advertisement will cost $2.81/1000 views and may just reach 53 percent of the market
- Television – One television advertisement will cost $9.82/ 1000 views and may just reach 14 percent of the market
- 1 Billboard – The value of an on-site sign = 24 full page paper advertisements each year.