There is no better investment that a business owner can make in their business. Of course, we’re a little prejudiced, but several studies and statistics support the claim. For example:
- A study conducted in California calculated the reach of a $16,500 investment in advertising through four mediums: TV, newspapers, outdoor advertising and on-premise signage. Each investment only bought one month of coverage for TV, newspapers and billboards, but the same among was used on a sign, which will remain for many years if well made. The monthly cost per 1,000 exposures (CPM) was $13.20 for TV, $3.47 for newspapers and $1.65 for outdoor advertising. On-premise signage, accounting for a 12-year sign lifespan: a miniscule $0.13 CPM!
- The same study indicated that the addition of a single on-premise sign boosted the annual number of transactions by 3.94%, and boosted revenue 4.75% on average.
- According to Brandon Gaille’s Blog Millionaire, a survey revealed that 50% of responding business’ new customers stated that they learned of the business through on-premise signage (other responses included 33% word of mouth, 9% newspapers and 1% each TV and radio).
- Blog Millionaire also recounted research claimed that 85% of a business’ customers live or work within a five-mile radius, and therefore could typically see its sign up to 60 times per month.
- According to Signtronix, a California-based sign company, more than 50% of consumers were deterred from going into a business with poor-quality signage, and that 60% turned away because of a lack of signs.