In an event held at the National Signage Research & Education Conference (NSREC) “The Science of Signage”, the University of Cincinnati presented some interesting statistics on the value of on-premise signs. The survey included 162 small business owners and the results show that signage naturally leads to awareness which boosts customers and profits substantially.
Here is a snapshot of some of those statistics.
- 64% – percentage of business owners who saw an increase in sales after upgrading or improving their signage size, location, etc.
- 12% – average increase in sales as a result of improving signage.
- Number of transactions increased 59%
- Profits increased 56%
- 13% hired additional staff as a result of the increased business from improved signage.
Gulf Industries Inc. surveyed 45 established, independent retail and service sites across the United States. These businesses included, car washes, muffler and transmission repair shops, beauty salons, chiropractic clinics, and others. The study was conducted 30 to 45 days after installation of a new on-premise sign and was designed to determine what attracted new customers to the store. Of the 840 customers who participated, in response to the question “How did you learn about us?” first-time customers responded:
- 54% (452) stated they became aware of the business when they saw the sign;
- 29% (248) became aware of the location through word of mouth;
- 11% (92) through newspaper advertisements;
- 4% (32) through the yellow pages;
- 1% through TV (9) and
- 1% via radio (7).
Throughout the study, all 45 businesses involved experienced increases in gross business, some as much as 50%, after the installation of a custom on-premise sign visible to the street.
Both studies show a strong link between signage and increased sales. Businesses shouldn’t be asking themselves the question of whether or not they should invest into signage, rather the right question to ask is how much can I get? Data points time and time again to a high ROI on any investment made on business signage.
Our infographic below helps visualize the above information. Feel free to share it. If you would like to post it on your website, just be sure to leave a link back here to us.