Improve your business with a monument sign investment
Did You Know?
A multipart study conducted by the University of San Diego, titled “Research on Signage Performance” focused on how on-premise signage affects the financial performance of retail businesses. The study concluded that there is a significant and substantial impact of on-premise monument signage on the revenues of a business. In the study, variables were used to determine:
- Annual sales revenue
- Annual transactions for a business
- Average amount spent per transaction
According to the results, the number of monument signs that a business invests in has a largely positive effect on the yearly turnover as well as the number of transactions every year. Below are a few examples:
- The result of installing one additional sign on a site would be: higher annual sales at that site by 4.75%. Considering a typical store that earns $500,000 revenue every year, this increment would result in $23,750 of added revenue for that one sign.
- The annual number of transactions increased as a result of an additional monument sign is predicted to be about 3.93%. This means that a store with about 100,000 average transactions a year would have an additional 3,900 transactions every year.
- The change in amount of every transaction as a result of additional signage ranged from $0.06 per transaction to $0.78 per transaction, depending on the size of monument sign added. At this point, it is also important to note that the dollars spent on one business as a result of added signage are the same dollars that are not being spent at another competing business within the same area of trade.
Common sense suggests that only if a monument sign was expected to give business higher revenue, would money be spent on it. Therefore, if you are looking at a perfect world, the only signs we see on the roads would be of those added by businesses who believe that they positively have an effect their revenue. However, many organizations are not aware of how much appropriate signage costs and what is the best placement for their monument signs. This is why we at LED Craft Inc. encourage businesses to come to us for all their signage needs. We will work towards maximizing the use of your sign and our expert staff will advise you on how to prevent limiting the effectiveness and profitability of a business.
How monument signs can affect your business
When given a choice, customers are likely to select which shop to step into based on their outdoor signs. As a business, it is essential to target the correct markets and demographics. By strategically placing your monument sign in the correct location, the perception of your business will see a dramatic difference.
- Large Audience: You can say almost for certain that anyone passing by your business, whether on foot or by car, will definitely notice your monument. Furthermore, city councils often appreciate monument signs because they present a refined and elegant appearance.
- Every Demographic can be targeted: Whether you are targeting kids, youngsters, adults, bachelors, parents or grandparents, a monument sign can reach all. For example, if you are an owner of a small business and your target market is the local public, these customers are sure to be driving by your business and the sign several times a day/week. Without a sign, such local customers may probably not be aware about the existence of your business.
- Cost Effective: When it comes to improving your visual marketing strategy, monument signs are way more effective than newspaper, television and other traditional methods. More people are likely to see your monument sign as compared to the number of people who will probably see your television or newspaper advertisement. Moreover, with monument signs, you can take advantage of year round, all day long advertising; something that is not possible with traditional methods.
- Clear Message: Monument signs can be very creatively designed to reveal a business’s offerings. Whether you are a doctor, real estate agent, yoga teacher, consultant firm or a dance studio, you can always use the benefits of a creative monument sign to attract customers and convey a message. Something very unique will make your business stand out and always remembered.
- Acts as a landmark: A monument sign placed outside your business will make it a landmark for your business location. Finding your company will be easier for potential customers with the help of the sign. Your company may be active on search engines and social media; but if there is no sign outside your actual business location, those efforts will all be in vain.
If you are in search of a monument sign to promote your business, contact LED Craft Inc. to create a unique monument design that will impress potential customers. Our years of experience have taught us exactly what it takes to produce a monument sign with the right message for the right market to positively reflect a business.
Interesting facts about monument signs
Capturing attention is best done with a monument sign! One in every two customers decides which business to go to based on their outdoor monument signs. While a monument sign costs only about two cents for every 1000 views, it is safe to say that more customers take notice of monument signs compared to television ads. Newspaper sales representatives often come knocking on doors offering statistics of how beneficial it is to advertise with them. But why pay more for a small ad and lose visual branding power when more people can be reached at a lower cost with a monument sign?
- Enhance your consistent advertising campaign: It is important to make consistency a priority throughout your advertising campaign. If you are well into online marketing using social media and websites, make sure the colors and graphics used are strictly consistent. Similarly, the same aesthetics should be used on your monument sign. If for example someone who has noticed your monument sign while driving by comes across it while browsing on the internet, they should immediately be able to relate the logo to your business.
- Amplification of your message: You can strengthen your marketing message with the help of a monument sign outside your business. In it, you can emphasize the offerings of your business and inform potential customers about the nature of your business.
- Consumers will come to you: If you fail to invest in an outdoor monument sign, or have a damaged sign, passersby will neglect your business and it will be hard to find. Although technology can help customers get in touch with you, they still need to trace your exact brick and mortar location. A prominent monument sign placed outside your business will automatically bring customers towards you.
Now that you are aware of how beneficial a monument sign is, simply click on the link below to begin or enhance your advertising campaign, to help reel in customers for you.