The business of branding: Evaluating the ROI on signage investments
In an era where branding is pivotal to commercial success, understanding the return on investment (ROI) from various branding strategies, particularly signage, is essential. Signage is not just a marker for a business location; it’s a silent yet potent communicator of your brand’s ethos to the world. This article explores the ROI on signage investments, diving into how well-placed, quality signage can significantly impact business visibility and customer perception.
1. The impact of signage on brand visibility
Signage plays a crucial role in enhancing a brand’s visibility. When a business invests in high-quality signage, often crafted by professional signage companies, it’s not merely investing in a piece of advertising; it’s investing in a perpetual visual statement of its brand identity. Good signage stands out, communicates effectively with the target audience, and creates a memorable impression.
- First impressions matter: The sign is often the first point of interaction between a brand and its potential customers. A well-designed sign can make a strong first impression, setting the stage for the customer experience.
- Consistent brand representation: Signage offers a continuous, consistent representation of the brand, reinforcing its identity and values. This constant visual presence helps in building a strong, recognisable brand.
- Localised advertising: Unlike broad-reaching advertising campaigns, signage targets local foot and vehicle traffic, directly appealing to those in the vicinity of the business, making it a highly targeted form of advertising.
2. Signage as a marketing tool
Signage isn’t just a directional tool; it’s an integral part of a company’s marketing strategy. As a silent communicator, it conveys messages about the brand, its values, and what it stands for.
- Customer attraction: An engaging, well-placed sign can catch the eye of passersby, potentially converting them into customers. It’s a silent invitation to explore what the business has to offer.
- Brand storytelling: Effective signage can tell a story about the brand. Whether it’s through the use of colours, fonts, or imagery, each element of a sign contributes to the overall narrative of the brand.
- Competitive advantage: In areas with multiple businesses vying for attention, a sign can give a business a competitive edge. Unique, creative signage can set a business apart from its competitors.
3. Cost-effectiveness of signage
One of the most appealing aspects of investing in signage is its cost-effectiveness compared to other marketing strategies. Signage requires an initial investment, but once in place, it doesn’t incur the ongoing costs that other forms of advertising do.
- Longevity: Unlike digital ads or print media, which have recurring costs, a one-time investment in signage can last for years with minimal maintenance.
- Broad reach, low cost: The cost per exposure for signage is significantly lower than for other forms of advertising. Since it’s a fixed asset, it continuously advertises the business without additional cost.
- ROI measurement: Businesses can track the effectiveness of their signage through increases in foot traffic, sales uplifts, or even social media engagement if the signage is unique enough to encourage sharing. This data can provide valuable insights into the ROI of the signage investment.
4. Enhancing aesthetic appeal and compliance
Signage is not just a branding tool; it also plays a significant role in enhancing the aesthetic appeal of a business’s physical location. Thoughtful design and placement can transform a storefront or office, making it more inviting and reflective of the brand’s ethos. Additionally, compliance with local regulations is another crucial aspect.
- Visual appeal with glass manifestation: Using elements like glass manifestation, businesses can create signage that is not only informative but also visually stunning. This kind of signage adds a modern, sophisticated touch to the business premises, attracting a more discerning clientele.
- Consistency in design: A well-designed sign should align with the overall design language of the brand. This consistency ensures that customers have a cohesive experience, from the signage they see outside to the interior of the business.
- Regulatory compliance: Good signage also takes into account local laws and regulations. This compliance is essential not just for legal reasons but also for maintaining a sense of harmony with the community and environment in which the business operates.
5. Measuring signage ROI
Assessing the return on investment (ROI) of signage is a critical part of evaluating its effectiveness. While it’s not always straightforward to measure, there are key indicators that businesses can monitor.
- Foot traffic and sales increase: One of the most direct ways to measure the ROI of signage is by observing changes in foot traffic and sales. An increase in new customers or a spike in sales following the installation of new signage can be a strong indicator of its effectiveness.
- Brand recognition and customer feedback: Another method to gauge the impact of signage is through brand recognition. Businesses can conduct surveys or focus groups to understand whether their signage has improved brand recall. Additionally, customer feedback, both in-person and online, can provide insights into how well the signage is being received.
- Long-term brand value: While immediate sales are important, the long-term value of increased brand recognition and customer loyalty stemming from effective signage should not be underestimated. Over time, this can lead to sustained business growth and a solidified market position.
Investing in quality signage is more than a branding exercise; it’s a strategic business decision with tangible returns. From enhancing brand visibility to acting as a cost-effective marketing tool, the right signage can substantially impact a business’s bottom line. While the upfront cost might be significant, the long-term benefits of well-thought-out, strategically placed signage are invaluable. In the dynamic world of business branding, underestimating the power of a sign could be a missed opportunity for substantial growth and recognition.
Author: Nimesh Kerai
Nimesh Kerai serves as the Printing Head at the Sign Company in London. Utilising his technical aptitude and the trait of keeping up with the latest technological advancements, he has been able to deliver top-notch quality prints and signage to customers consistently. This has cemented the Sign Company as one of the most sought-after signage companies in London. He consistently shares his insights with the masses by means of useful and intriguing blogs.