Banks and financial institutions can utilize the 3 seconds for bank signs. Since signs typically have only a short time to convey a message, it is essential to utilize that short time – maybe 3 seconds – as effectively as possible. The results of a recent case study illustrate several ways a financial institution can improve its metrics with various forms of signage.
The findings from The Economic Value of On-Premise Signage by Rexhausen, Hildebrandt and Auffrey, demonstrate that the 3 seconds for bank sign focus can significantly impact the success of a bank branch. Two primary conclusions of the study are most significant:
- The presence of a pylon sign increases bank transactions by 15%.
- Parking is the only other factor considered that signifacantly influences teller transactions.
Proper visibility, in this case study demonstrated by the presence of a pylon sign, impacted the number of transactions by 15%. Locations with better visibility in the form of a pylon sign experienced on average a 15% higher transaction rate – regardless of all other factors. When considering the investment in a branch location (real estate, improvements, staffing), making the investment in proper signage and obtaining a variance where necessary to erect a pylon sign can dramatically effect the performance of that branch.
The study shows that certain signage impacts the success of a bank as much as parking. Branch transaction rates correlate equally with parking and signage. The import of this for banking managers is that proper visibility, particularly the presence of a pylon sign is vital to the success of a branch. It can be as significant as parking.
Understanding this can strengthen the resolve of bank branding managers to seek the proper signage for each location. Finding ways to improve and reinforce the 3 seconds for bank signs could lift a branch from marginal or failing to performing. For more information on impactful signage