Unless you ask every single customer how they found your business, it can be difficult to quantify the value of signage. That’s why it’s important to turn to outdoor advertising statistics to gauge just how powerful signs can be for your business. Today we’ll look at three different numbers that will tell you just how important customers consider signs to be.
Why Signage Matters: When Customers Visit New Businesses
Why should you even bother with signage marketing in the first place? Simple: it’s a chance to meet new customers you’ve never even considered before. A study conducted by FedEx Office found that almost 80% of American consumers have walked into a new business simply based on its signage.
If that seems like a lot, consider how important word-of-mouth advertising is. In the same survey, about three-quarters of people reported that they’d recommended a store based on its signage alone. That’s one outdoor advertising statistic that can’t be ignored. Bottom line? A good sign attracts more customers and more business. Signage may not seem like a way to boost word-of-mouth, but the statistics show that it is closely linked to your reputation.
Effective Signage Encourages Walk-in Traffic Every Day
If you run the type of business that depends on foot traffic to make sales, then it will encourage you to know that effective signage inspires people to make a split decision. In fact, according to some statistics, about 17% of people have walked into “Best Buy” simply because they saw the sign.
That’s an impressive number when you compare it to other compelling reasons to walk in a store, such as having an emergency need to pick up a new product. If a sign alone can do 17% of the sales for you on a day-in, day-out basis, then you might consider a sign as an affordable alternative to hiring a new salesperson on your staff.
Most Businesses are Happy with their Outdoor Advertising Investment
It comes down to dollars and cents. Are businesses happy with their signage marketing investment? Do they think it’s expanded their ability to make sales or that the signage was a waste? A study by the economic center at the University of Cincinnati found that some 60% of businesses who updated or changed their signs saw improvement in sales and transactions, with the average increase reported at about 10%. And that doesn’t even account for the businesses who purchased new signage when there was no signage before.
If one thing is clear from all of these statistics, it’s that signage can have a dramatic impact on the way your business is perceived—and on how many people it attracts. With effective custom signage, there’s no limit to the amount of buzz you can generate.
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