October 17, 2018

Defining a Return on Investment for Your Business Signage

business signage

Business signage is a significant investment, so it makes sense that most businesses want to define a return on investment (ROI) before taking the plunge. However, determining a concrete ROI can feel almost impossible, since most businesses don’t survey customers about whether or not the signs outside led to their purchase.

Think About Your Objectives

Every business has different motivations behind purchasing new business signage. Is your current sign weathered and outdated? Are you rebranding? Do you want to get more foot traffic? Are you running a promotion that you need to advertise in store? You should think about exactly what you expect to get from your signage before you think about what type of signage would be best. Remember to keep your expectations realistic. Expecting a modest bump in foot traffic over the course of the holidays is practical for your Main Street store. However, expecting a 500% increase in sales due to a new sign is totally unrealistic.

Examine the Timeframe

Another element to consider when thinking about ROI for business signage is how long you will have the new signs. Unlike a temporary promotion or advertisement, where you would expect a significant and immediate ROI, exterior business signage typically works for you over a period of years. When measuring the anticipated impact of new outdoor signs, think of this as a long-term, serious investment in your company and not a quick fix.

Reassess the Benefits

If you fail to measure any effects of your business signage, you will be unable to adjust things in the future. Once you have decided what you want to measure, pay attention to the metrics. How are your sales? Are customers having an easier time finding your store? Have you experienced an increase in foot traffic? For interior signage, you can think about if customers require less assistance to find items or if promotional terms are clearer. Continually reassess whether or not your signage is meeting your needs and, if it isn’t, don’t be afraid to update things again.

Business Signage from East West Sign Group

Designing, installing and maintaining the right business signage can be hard without an experienced partner. East West Sign Group knows all about sign design and installation, and we have worked with countless businesses to boost business with great signage. To learn more about how we can design the right sign for you, contact us today!

October 17, 2018