When small business owners are first starting out, especially if they are doing business directly to consumers, they are faced with the important question of how they should spend their money most efficiently to get their brand known in the market place. To help answer this question, we took a look at a study from the United States Chamber of Commerce in which 2,475 consumers were asked how they learned about businesses.
- 50 percent learned from an on-premises sign
- 33 percent heard about it by word of mouth
- 9 percent read about the business in the paper
- 6 percent used the Yellow Pages
- 1 percent television
- 1 percent radio
It follows, then, that the best way to promote your business and avoid failure is to invest in the best business sign you can afford. This, of course, is in addition to providing excellent products and services to your customers once they find you, that way they will tell their friends and family to visit you.
Signage Is Also Cost Effective
BuExterior wall signs for Cleveland OH is an effective way to build your brand. To help drive this point, consider the example of comparing advertising in the local paper, the most common way to advertise, to the cost of good signage. Typically a commitment is required to run ads in the newspaper for an extended period of time. It's possible a newspaper ad can run as much as $7.25 per column inch, about 2" x 3". At that rate the coast would be $43.50 for one day.
The cost of signage for businesses in Cleveland OH vary greatly depending on the project. For the sake of argument, though, let us go with a lighted building sign, with LED lighting. This project might cost around $3,000. The $43.50 per day in a newspaper ad would add up to $3000 in 40 days. The sign remains in place day in and day out for many visable impressions.
Now, let us make the conservative estimate that 10,000 vehicles pass your business every day. This would be average for a moderate to low traffic area. By dividing 125,000 by 10,000, you find that the sign reaches the same value as the paper ad within 12.5 days. Signs last much longer than that, of course, so you can expect the cost per impression to be quite low over time. Plus, the business sign does something the ad does not do: it delivers multiple impressions to your potential client base. This helps build your brand recognition.
Bad Signs Will Cost Your Company
It is well worth keeping your sign current and in good shape if you want to attract customers. In general, we try to keep our blog posts positive, but we must mention that worn, outdated, or poorly made wall signs can actually hurt sales. Customers want businesses that engender trust. Shabby signage shows potential consumers that you do not pay attention to detail, and they may not be able to tell that you are even still in business.
For your one stop business sign solutions outside, inside, or for your vehicles, contact Epic Signs & Graphics for a free consultation and we will coordinate all your signs to work in concerrt with each other so you will benefit from a good investment.