In today’s competitive retail landscape, businesses must grab the attention of their customers quickly. Competition for a prospect’s attention grows every day as we experience the bombardment of information every day. While so many other forms of advertising exist, retail store signs, which have served businesses for centuries, remain a business owner’s most effective and cheapest form of promotion.
Types of Retail Signs
Retail signage can take many different forms as visual displays which communicate a message to a target audience. Businesses use signs to promote products, services, or their brand. Customers can find different varieties of signage both inside and outside of retail stores in a variety of shapes, sizes, and materials.
Some of the most common sign types found among retail locations include:
- Pylon signs: As you drive down the street, you will notice large pylon signs which often feature one or multiple businesses in a shopping center. These freestanding signs often adorn the front or street side of retail businesses. They can create brand awareness and drive traffic to your store. Signmakers use a variety of materials, including metal, plastic, and glass to fabricate these displays.
- Channel letters: Channel letters are the individual letters that are backlit with light usually found on the façade of storefronts.
- Window lettering or posters: Use window lettering to promote your products and services to passersby. Many companies use this sign type to add personality to their storefront. Most window lettering is fabricated from vinyl, and some businesses choose to cover their windows with perforated vinyl posters which promote the company from the outside, but which allow people inside of the building to look out the window.
- Outdoor banners: Outdoor banners promote special events, sales, and promotions and create a sense of excitement and anticipation for your store. Most sign companies make banners from vinyl, fabric, or mesh.
- Indoor signs: Don’t forget to use indoor signs. Business owners can effectively use paper, plastic, and metal signs to promote specific products or services, or to offer discounts and promotions. They can also use them to direct people around the store to designate departments, facilities (i.e. bathrooms), and other wayfinding applications.
The type of signage you choose will depend on your budget, your target audience, and your marketing goals. However, all the types of signage mentioned above can deliver results toward your business objectives.
Benefits for Signs
Strategic businesses enjoy several benefits when they employ retail store signage, including:
Increased brand awareness:
Signage will introduce your brand to new customers and remind existing customers about your business. When done correctly, signage can help to create a strong brand identity and make your business more memorable.
Increased foot traffic:
Well-placed signage can drive traffic to your store, especially for businesses located in busy areas or on high-traffic streets.
Increased sales:
Use signs to promote specific products or services, or to offer discounts and promotions. This can lead to increased sales and revenue for your business.
Improved customer experience:
Signs and banners have demonstrated their ability to improve the customer experience by providing information about your products, services, and hours of operation. This can make it easier for customers to find what they’re looking for and get the most out of their shopping experience.
Cost-effectiveness:
Retail signage, though a business expense, can deliver significant return on ad spend (ROAS). The cost of signage varies depending on the size, type, and materials used. In most cases, they generally cost much less than other forms of advertising, such as television or print ads.
Shop owners enjoy a very low cost per impression (CPM) when they use retail store signage. CPM is the cost of reaching 1,000 people with your advertising. Retail store signage can deliver a CPM as low as $0.10. This means that for every $10 you spend on signage, you can expect to reach 10,000 people.
Bottom Line: Invest in Signs
If you’re looking for an effective and affordable way to advertise your retail store, don’t forget to budget for signs! With a variety of benefits to offer, signage can help you to increase brand awareness, drive traffic to your store, increase sales, and improve the customer experience.
Do you have questions about signage and how to make your retail business a success? Contact a member of our brokerage team today by clicking the link below.