If you have run or managed a business for a several years, you can be forgiven for getting a little complacent. It takes so much effort and attention to detail to get a business up and running. Once you get into a groove, you might tend to let certain things slide. If you’re not turning a profit regularly, this can be a big problem. But even if you are in the black, you might not be making as much revenue as you could if were a little more vigilant in the upkeep of your business.
Old Signs, New Signs
Your sign may have looked great a couple years ago. It may have been exactly what you wanted. It may have been great for business. And indeed, the content of your sign may still be exactly what you want. But the sign itself. How does it look?
Is your sign old & tired? If you answered yes, then your sign should be replaced/updated. If you answered maybe, then your sign should be replaced/updated. If you answered, “Hmm, I’m not sure”, then your sign should be replaced/updated. Why? Because, a less than optimal sign almost certainly means less than optimal revenue.
The cost of a new sign may be quite small compared to the increase in business. What does an old, faded sign say about your business? In a world where people are looking for what is new, trendy, and different, it doesn’t pay to be behind the times. Even if you have a business that has been around since the 1800s and want to convey stability and history, an old sign doesn’t say “historic” it says “tired, worn, neglected”. It doesn’t say “old-fashioned”, it just says “old.”
But maybe you want some statistics to back our claims up, lest you think we’re just cynically trying to boost our own revenue. Well worry not, because the stats do indeed support our argument. The Sign Research Foundation found that 60% of businesses reported an average sales increase of 10% or more by adding or updating their signs.
Think about that for a moment. Six out of every ten businesses boosted their revenue simply by adding or updating their signage. And not just increased sales, but increased by10% or more. That is a significant amount. Look at your sales right now. Would you like to increase that by a tenth? Of course you would!
“But wait”, you say, “only 60% saw an increase in sales, “what if my business is in the 40%”. Well, first, you can get professional, high grade signage, at an affordable price. It’s not like you have to put out this massive outlay to get a new sign. So it’s not a big gamble. Furthermore, those sixty percent of businesses saw an increase of at least 10%. Some saw far higher increases. And many of the businesses in the 40% could have also increased sales, just not by that margin. And anyway, it can’t hurt to have crisp, clean, new, bold signage in your business or on your storefront. It will make your business look more impressive, regardless of its affect on your sales.