Assessing where and how to spend your advertising dollars is one of the most difficult dilemmas business owners face. First, you must decide how much to spend on advertising. With profit margins often razor thin, especially for new businesses (when new businesses begin to make profits at all), spending money on advertising and marketing must, simply must, pay off and help to grow your business. If it doesn’t, you might not be in business for very much longer. So how do you reap the most business for your advertising dollar?
One of the –perhaps the– most important thing to communicate to potential customers is the benefit of the product that you are selling. Customers are unlikely to purchase what you are selling if they don’t think they’ll benefit from it in some way. So what is the best and most effective way to communicate these product benefits to customers?
Let us compare two of the most used and traditional forms of advertising: signage vs television. Which of these media is better at informing customers about product benefits? Is there information on this subject?
Why yes, there is information on this subject. The Sign Research Foundation published some information on this very topic. They compared signage with television and some of the other most popular means of advertising and conveying product information. Past studies have ranked television as the most useful source of new product information. However, indoor signs, along with magazines, follow closely in second place. Outdoor signs ranked third on this list, above radio, internet, and newspaper advertisements.
But we can break down this information further to glean further insight. Because, of course, customers are not just faceless, nameless, mannequins who are all the same. Different people respond differently to different types of advertising and media. And the research bears this out.
For example, people who consider themselves highly environmentally conscious have reported that they find outdoor signs more useful in conveying information with regards to product benefits. Similarly, health conscious consumers perceive signage to be more useful, attractive, and eye-catching than other forms of media, perhaps because these individuals are more “message prone” and likelier to seek out and use beneficial information.
People who view themselves primarily as members of groups rather than as individuals, meaning those who are more collectivist than individualist, are likelier to perceive
signs as useful and are likelier to be drawn into a place of business and/or to make quality inferences because of it.
Quite why this is is not fully known. Perhaps it is because these collectivist, group self-identifying folks are accustomed to looking outside themselves for information and guidance. Signs that show families or groups, rather than individuals, then, can multiply the impact of your advertising and increase your chances of efficiently communicating the benefits of your products.
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To get high quality signage for your business, or if you have any questions about how best to communicate the benefits of your products to prospective customers, please do not hesitate to contact us today.