Physical signage comes in many forms, including LED, magnetics, vinyl, awnings and monuments. However, LED signage is a standout option in more ways than one. Richard Branson, renowned British entrepreneur and founder of Virgin Atlantic Airways, said he’s all about relying “far more on gut instinct than researching huge amounts of statistics.” This goes for LED signage, too: If you’re a business owner who has gone this route, you know in your gut that it leads to great success. But why?
“The Science of Signage” was the theme of the 2014 National Signage Research & Education Conference, held in Cincinnati. A number of studies originating from the University of Cincinnati focused on the value of physical signage on business premises. The largest study, which surveyed 162 small businesses, found that signage is a key tool for optimizing sales and traffic.
Following the Signs
According to UC researchers, 64 percent of small business owners had improved their signage with a better location, bigger size, sign facelift and other enhancements. No matter what the improvement, the average annual sales went up by 12 percent. Plus, business owners also noted more transactions (a 59 percent increase) and more profits (a 56 percent increase). On a related note, 13 percent of these businesses brought on more staff. However, what’s really incredible is just how quickly LED signage rose to the top of preferred signage rankings.
Just take a look at the Century Banquet Center in Detroit, which recently updated its premises with LED signage. The center replaced the old sign, a standard 4-by-8-foot manual letter board with a 4-by-12-foot 1 9mm LED colored sign, and in 24 months the number of events and weddings booked quadrupled. According to the facility manager, one of their customers’ most common compliments was they loved being able to display custom photos on the LED screen (such as photos of the newlyweds).
Three Letters to Better Profits
According to UC researchers, “Without a properly designed on-premise business sign, a commercial site cannot function at full potential.” That goes for any type of signage, but certain businesses (such as event facilities) might particularly benefit from a little extra oomph. There’s no denying that LED signs easily grab your attention and hold on tightly.
IG Signs serves Utah’s intermountain west area, providing for all of your signage needs. Call them today to find out what type and size LED sign is best to aid in garnering more customers for your business.