When focusing on marketing and advertising, many companies under invest in their signage. Failure to spend both time and money on proper signage is a lost opportunity for any type of business. Unfortunately, many people do not realize the economic value commercial signage brings to a business. Signs have the ability to positively impact consumers and communities, increase business performance, and increase their own worth. All of these signage capabilities have been researched and published by the Sign Research Foundation.
Positive Impact on Consumers
Commercial signage positively impacts consumers and communities. Research states, “In a case study of 8 San Diego auto dealers, 68% of people surveyed said that the sign had been an important factor in finding the dealer’s location” (The Economic Value of On-Premise Signage, See executive summary). Without conspicuous signs, many consumers have a hard time finding businesses. This can lead to frustrated consumers and even dangerous driving behavior. Therefore, an appropriately designed sign positively influenced a consumer’s opinion of the business.
Commercial signage also has the power to increase a business’ performance. Repairing signs shows a 10% increase in sales for 60% of businesses studied (See executive summary). People perceive not only what type product or service a business offers but also judge a business by the curb appeal, which is largely influenced by the signage. If a sign is outdated or not taken care of properly, people are likely to assume the business is also outdated or not cared for.
On the other hand, if a sign is designed well, it can increase foot traffic. A survey performed by the BrandSpark Better Homes and Gardens American Shopper study found, “29% of American consumers report that they have been drawn into unfamiliar stores based on the quality of the store’s signage.” So a well designed sign grabs the target audience’s attention, and attracts consumers who might not have stopped in before.
Commercial Signage Value
Unlike many investments made by a company, a commercial sign does not necessarily depreciate in value. The value of a sign is reinforced every time it causes someone to engage in the business. In the article, The Importance of Signage of Repositioning Your Brand, the authors emphasize the key role a sign plays in a business’ advertising. “It is an advertising investment that you make once, and yet it continues to work for you…24 hours a day, 7 days a week.” Investing in a sign is a onetime purchase, yet it is constantly drawing customers into a business. It is reported that 29% of North American shoppers base where they shop on the information communicated by the store signs (see executive summary). A commercial sign can be a large investment, but its value grows with every customer it brings to the business.
Commercial signage has a large amount of economic value for a business. A well designed sign can positively influence consumer’s view of the business and increase the business’s performance. Lastly, the value of the commercial sign increases over time if it is well kept. It is an investment that grows in value by drawing consumers in. It is in any marketing team’s best interest to spend time focusing on the signage of the business. In doing this, they are bound to bring in more customers and increase the overall perception of their company.