In order to make back the money they spend on advertising and promotions, every business needs to obtain the best ROI possible. It is not just about how much money you make, it’s also about how much money you had to spend in order to make that much money weekly, monthly or each year. Ensuring you have a positive return on your investment is critical to the long-term success and future of the business.
There are many different investments and marketing channels that can be utilized to grow your business. Having said that, it is often the little ones that have the biggest impact. Retail store signage has a far higher return on investment than you might think. Shopping signage that increases sales could be just what your business needs. Custom store signage is ready to make a positive impact on your profits right now!
Let’s examine six surefire ways signs are able to increase your ROI.
Six Ways Signs Can Increase Your ROI!
- Attract More Customers and Increase Foot Traffic: Around 20% of consumers have reported being drawn into new stores simply on the basis of the quality of their signage. When you are purchasing new retail store signage, make sure to go for quality above all other factors. While the upfront cost may be a little higher than you wanted to pay, the cost will be recovered over time thanks to the potential ROI increase from the long-term use of the quality sign.
- Build Brand Awareness: The clearer you are regarding what your brand is all about, and who you are trying to reach, the greater the chances for success. Knowing the personality of your brand, as well as staying consistent with the voice of the brand, will give you the answer you need about who will benefit most from your product or service.
- Gain Valuable Customer Feedback: Every customer has a story to tell and an opinion to share. Listen to them so you can see what you are doing right and how you can improve your business. People love to share their experiences through word of mouth or on online review sites. QR codes make signs interactive and get customer feedback by linking to a quick survey. Entice customers to take the survey by offering a discount or free product.
- Set Consistent Expectations: Using custom store signage that is “in tune” with your brand lets customers know what to expect when they enter your store. If your business benefits from repeat customers, consistency with your interior and exterior branding will work to boost customer retention rates.
- Increase Store Value: Design-oriented firms that feature proper signage have been shown to increase in value at a faster rate than their counterparts. The use of your brand image to establish a design language is possible when you understand the design thinking process. The first impression someone has of your business is often the storefront sign that provides your name or describes your products and services to the public. It is also your brand and the physical representation of your business. Your interior and exterior sign packages identify your brand through design that accelerates growth and increases ROI.
- Increase Sales: According to the Sign Research Foundation, 60% of businesses see an increase in revenue (by 10% or more) after they install proper signage. An increase in the bottom line is great but there is no hidden formula to increase sales overnight. Keep in mind that the above tips all impact business sales directly on a daily basis. You might not always have the available time to consider every aspect of your business that boosts sales but remember that a professionally designed sign can pay for itself multiple times over!
Types of Retail Signage You Can Use to Increase ROI
There is a possibility that people avoid using retail shopping signage because they don’t realize how many options are available to them. If you just limit the sign options to the exterior of your property, you will find signs such as:
- Hanging Window Signs
- Lighted Storefront Signs
- Custom Open and Closed Signs
- Store Hours Signs
The act of considering the inside of the property means other options such as advertising signs, logo signs and custom point of sale signs. These are only the tip of the iceberg when it comes to signs that are available to you that won’t hurt your budget.
Retail signs brand and promote your business and can increase your sales by as much as 30% by sharing unique selling points that engage customers. If you are ready to have a custom store sign printed, trust our expert retail signage team.