Is Your Exterior Signage Worth the Cost? A Detailed Analysis.

Goodly Service • August 9, 2023

In a world where competition for attention is high, the importance of standing out is paramount. One area where businesses have an opportunity to make a significant impact is through their exterior signage. But is it worth the cost? This is a question we hear often. To answer, we have to delve deeper into the world of exterior signage, its potential benefits, and how these stack up against the associated costs. In this detailed analysis, we will unravel the true value of exterior signage and help you make an informed decision about this pivotal marketing investment.

The Importance of Exterior Signage

Exterior signage serves multiple purposes in the world of business and commerce. It is not just a marker of your location, but a visual communicator that interacts with potential customers even before they step into your premises. Here are some of the reasons why exterior signage is so important:

1. Brand Awareness and Recognition

Your signage is typically the first point of interaction between your business and your potential customers. It introduces your brand and sets the stage for future encounters. By incorporating your logo, company colors, and tagline, exterior signage can significantly increase your brand's visibility and recognition. Over time, people associate the sign with your business, helping build your brand identity.

2. Advertising and Marketing

Exterior signage is a powerful marketing tool. A well-crafted, strategically placed sign can capture attention and pique the interest of passersby. Moreover, signs can communicate essential details about your business, such as ongoing promotions, new products, or upcoming events. This constant visibility works as a 24/7 advertisement, ensuring that your brand remains in the public eye at all times.

3. Direction and Information

Signage is not just about promotion. It also provides essential information, guiding visitors to your location and helping them identify your premises amidst other businesses. For larger facilities, exterior signage might include maps, directory signs, or markers to guide visitors around the campus.

4. Competitive Differentiation

Your exterior sign helps differentiate your business from others in the area. An original, eye-catching design can make your establishment stand out in a crowded market, giving you a competitive edge. In some cases, distinctive signage can become a local landmark, further increasing your business's prominence.

5. Impression of Stability

Finally, a well-maintained, high-quality exterior sign sends a message of reliability and stability. It indicates that your business invests in its presentation and cares about its image. This attention to detail can create a positive impression in the minds of potential customers, associating your brand with quality and professionalism.

6. Impulse Sales

According to a study by FedEx, nearly 8 in 10 consumers said they had entered a store or business they had never visited before based simply on its signs. Moreover, many purchases—particularly in sectors such as retail and dining—are impulsive. An attractive exterior sign can draw in these spontaneous customers, leading to increased sales.

In summary, exterior signage is a multi-faceted investment that goes far beyond just marking a business location. It's an ambassador for your brand, a beacon for your customers, and a silent salesperson contributing to your bottom line.

The Costs of Exterior Signage

Now, let's talk about costs. The price of exterior signage can vary significantly depending on factors such as the materials used, the size of the sign, the complexity of the design, installation costs, and whether it is lit or not. On average, exterior signs can cost anywhere from a few hundred to several thousand dollars.

However, when looking at these figures, it's essential to remember that signage is not a one-off cost. Signs require maintenance to remain clean, bright, and attractive. Outdoor signs are subject to wear and tear from weather conditions, which may lead to eventual replacement costs. Additionally, there may be permits and regulations associated with signage that can result in ongoing fees.

So, the question becomes, are these costs justified?

Is the Cost Justified? A Look at ROI

The return on investment (ROI) is a critical factor to consider when evaluating the worth of exterior signage. To calculate this, you'll need to estimate the increase in profits that your sign will bring and compare this to the cost of the sign itself.

Consider this: A well-placed sign can be seen by hundreds, if not thousands, of people every day. If even a small fraction of these people decide to visit your business because of your sign, the potential increase in revenue can be substantial.

Moreover, unlike other forms of advertising like TV or online ads, which are ongoing costs, a sign is a one-time investment that continues to advertise your business 24/7. A study by the Small Business Association showed that the cost-per-thousand (CPM, a common measure for advertising) impressions for on-premise signage was significantly less than other types of advertising like TV, radio, and newspapers. This makes exterior signage one of the most cost-effective marketing strategies.

The Intangible Benefits

In addition to the tangible benefits that can be measured in dollars and cents, there are intangible benefits of exterior signage. High-quality signage can help to build brand recognition. Over time, as consumers become familiar with your sign, the recognition translates to trust, and trust can translate to loyalty.

Exterior signage also offers an opportunity to express your business's personality and create a certain perception in the minds of the public. A unique and innovative sign can help your business to stand out from the crowd, increasing its memorability and giving you an edge over competitors.

Conclusion

So, is exterior signage worth the cost? The answer largely depends on your individual business needs, your target audience, and the specific characteristics of your location. However, the potential benefits of increased visibility, customer attraction, and brand reinforcement make a strong case for exterior signage being a worthy investment.

Before you make your decision, consider all these factors and how they apply to your business. Evaluate your current marketing strategies and their effectiveness. Could exterior signage enhance these efforts?

When it comes to choosing a service provider, the Eastern Sign Company, based in Egg Harbor Township, NJ, stands out as a top contender. With a reputation for high-quality work and customer satisfaction, they can provide detailed quotes and offer insights into the most effective signage options for your specific needs. You can reach them at (609) 927-0885 to discuss how they can help make your business stand out.

Remember, your exterior signage is an extension of your brand and a critical part of your business's overall first impression. Choosing a professional and experienced signage company like the Eastern Sign Company ensures your investment will yield quality results. Invest wisely and it can pay significant dividends for many years to come.

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