the ROI of Signage
“Basically, a good sign should be one of your best salespersons. Why? Because an on-premise sign is a permanent asset. Your sign doesn’t sleep, never takes vacations and says whatever you want.”
Bang for your Buck
Lets break this down a bit:
1 - 10'x5' 18oz heavy duty banner is about $222.50 which is about $6.18 a month (or about $0.20 a day) for its 3 year expected outdoor life span. The cost of advertising in a local paper can cost around $12 per inch per day!
Meaning you can have a full color custom ad that is 5'x10' hanging for 3 years for $222.50
Or you can have a 4"x10" black and white ad handed out for 1 day for $480.
Meaning you'll be paying less than half for a print that's over 12 times larger, and is up for 1,095 times longer!
“Signage is the lowest cost-per-impression marketing method of all of the traditional marketing avenues. On-premise signs cost on average 0.013 cents per view.”
Effectiveness
We just determined that signage is a much more cost effective form of marketing than other traditional means, but lets now look at the effectiveness of signage.
First: Exposure
People tend to remember things they see/hear a lot, it's said that something must be said 3 times for the mind to remember it. The same goes with printed ads, this goes back into the cost again but, in order to keep your name in front of potential customers you either need to have an ad running constantly (which can cost a ton) or have a sign that stays up for a long time.
Your sign is your sign, you can leave it up year round, 24/7. So every time someone walks, drives, or passes by it you're name is right there.
Second: Size & Message
We already spoke about being able to buy much bigger signage for cheaper cost, and that's good because when it comes to signage bigger is almost always better.
The bigger your signs are, the easier they are to read and the more they're likely to be noticed. Having large signage also allows you to put more information in an easy to read font and size.
Third: Customization
Because we don't limit you to how many colors you can use, or what sizes you're allowed to pick from, you can make the signage anyway you want! It can be simple, and minimalistic. It can be crazy, and eye catching.
You can truly advertise your business in the way that best fits you and your message. Which makes you stand out from the crowd. When all ads look the same, people stop noticing them. But when your signage sets you apart, people are going to remember.
“On-premise signage is the most effective, yet the least expensive form of advertising for small business.”
“The addition of one sign increased sales at retail and restaurant locations from 4 to 12 percent.”
Signage vs Digital/Social Media Marketing
Do you remember that hilarious viral video you saw last week? Or that great ad that company posted a month ago? A little bit, kind of, no? That's because, while the digital platform is huge, it's constantly being updated and added to. It's hard to keep track of everything you see while scrolling, because there is so much out there.
However, experiences and sights that we get in real life tend to stick with us a lot longer and have a much better chance at impacting us. People hold on to the real world more than the digital one, and seeing something in person is much more effective than seeing something on a screen. We've become programmed to consume digital content, rinse ourselves of it, then consume more.
“Today’s consumers spend 70% of their time away from home. They spend an average of 6 to 10 hours a week traveling between their home and work.”
A lot of social media sites and advertising programs are helpful, but don't give you a great ROI and aren't cost effective for lower budget companies. For example, Facebook allows you to choose your budget and you can set it fairly low, but reducing your budget also greatly reduces your reach. LinkedIn lets you advertise, but doesn't allow for low budget ads. Other web advertising platforms let you set budgets and prices for clicks, but when you're bidding on clicks you could be up against giant companies that have a way bigger budget than you.
Physical signage gives you odds against these issues because of the one time charge, your ability to put whatever you want on it, and the fact that it costs you the same as it costs everyone else without having a bidding war. It also allows you to focus your area, and drive local business easily and effectively.
“Although we are moving more toward a world of digital advertising, brick-and-mortar businesses must still rely on physical signage to help bring in customers. Signage is one of the most important marketing strategies for local businesses, as it can be used for both branding and advertising.”
Personally, I think the digital market is extremely important, but it shouldn't be your only marketing platform. For the best ROI you have to diversify.
Let BiG sign fx help you will all of your signage needs!