Sign ROI (return on investment) is an often overlooked way to improve modern retailing. As online channels continue to grow, ensuring the best return on bricks and mortar requires investments that give you a good payoff. Sign programs designed to attain maximum exposure are documented winners. Improving signage at a location can increase sales from a few percent to 25% (or even more).
Proof of Sign ROI
Various studies demonstrate the impact of signage improvements. They provide solid proof that rethinking signage can balloon your sign ROI. Whether increasing sign size, adding or raising a sign, or replacing an aged sign, the improvement in sales can easily justify the investment. The calculation depends on the characteristics of the particular site and the store economics. To analyze a location, look at sales, gross profit on sales, and what a few percentage points improvement does for profit. Now look at a 10% or a 25% increase in sales. You may not believe the numbers. Documentation of these sales improvements has existed for years. And a more recent study by the Signage Foundation can be found here.
How to Get Sign ROI
The increase in profit will normally pay for the cost of signage improvements several times over. So the trick is to analyze the particular location. Determine what improvements to sign visibility are possible and make sense. Depending on these site dynamics, moving the sign to a more visible area might be all that is needed. Other times a larger sign is needed to enable easy recognition. Older signs often fade and need cleaning. A simple refresh with bright colors or even cleaning the sign can improve your sign ROI.
What opportunities do you have to improve your sign ROI? Take a few minutes to look. The return on any investment in time and money can provide a handsome return.