Business Sign Budget: You Can’t Afford To Ignore Your Signage
- January 12, 2024
- Posted by: Ryan Brady
- Category: Budgeting
Successful businesses don’t just happen; they result from lots of planning and hard work. Part of the planning process is creating an effective business budget.
This means more than just figuring out how much it costs to provide your clients with a top-notch product or service; it also includes an advertising budget to inform the public about your business and what you offer.
With so many different advertising channels — print, broadcast, search engine ads, and social media — it can be tough to know where to focus your funds. One area that’s easy to overlook is your business signage.
But you must recognize your business sign budget. Your signs are crucial in attracting customers and establishing your brand identity.
Here’s why your signs are important and why you should focus on signage over traditional advertising.
The Numbers Behind Good Business Signage
While many business owners think of signage as a basic part of the exterior of their business, the numbers show that it pays to put more time and effort into creating a really well-designed sign. Good business signage is so powerful that businesses are diverting an increasing amount of their business budget strategy to signage (and especially digital signage).
And why not? Business signage has many benefits that can’t be achieved with other forms of marketing. Here are some ways well-designed signage beats the rest when attracting customers and boosting sales.
You paid for an ad to air during prime-time television viewing time, but the station made a mistake, and your ad never showed. Due to a glitch with Facebook, your cool new ad is only visible to half the people you hoped to reach. While traditional advertising has many benefits, it can also be subject to many uncertainties that aren’t a factor with your business signage. Not subject to errors in scheduling or social media technology, your sign will sit out front, beckoning visitors in even as your other advertising methods achieve various levels of success.
Increased Exposure Year-Round
Will you run the print ad for your restaurant in your local newspaper to capture all its readers or spend that money advertising in a local magazine covering your city’s food scene? Social media advertising can also be segmented to target everyone in a certain area or specific demographics. Will you run the ad just before the holidays when people buy gift cards or run it just after – when everyone is tired of cooking at home and ready to go out to eat?
When you include eye-catching business signage in your budget, you create advertising that captures all segments of viewers who pass by — at all times. In addition to letting a broader swath of the public know about your restaurant, your sign also advertises for you year-round — capturing pre-holiday gift-givers, post-holiday restaurant-goers, as well as people celebrating birthdays, special occasions, or just looking for a fun night out.
Business signage isn’t all or nothing, either. In addition to your permanent sign, you can incorporate special signage to bring additional attention during certain times of the year or around holidays.
Building Your Business Sign Budget Wisely
When planning a new business location or a significant renovation, consider incorporating the cost of your business signs into your construction loan. Including sign costs in your construction loan gives you a clear estimate of your total expenses upfront and helps you avoid unexpected financial burdens during the project. This also prevents delays and ensures that your signage aligns with your grand opening or renovation completion.
Also, many cities offer grants and incentives to support local businesses and enhance the aesthetics of commercial areas. Start by researching programs offered by your city or municipality that provide financial assistance for business signs. If you cannot secure funding through construction loans or city grants, consider exploring alternative financing options, such as business loans or equipment financing (which can include signage).
By incorporating sign costs into your construction loan, seeking grants from your city, and exploring third-party financing options, you can ensure that your signage aligns with your brand vision and attracts customers effectively.
A Better Bang for Your Business Buck
With its dependability and increased exposure, business signage is a better bang for your buck than many other forms of advertising. Remember, when you create your business budget strategy, that outdoor business signage has a wide range of prices, depending on whether you install illuminated channel letters, an awning, or a custom sign mounted high on a pylon.
You can create signage that perfectly complements your advertising efforts by working with a business signage provider and discussing your goals and business budget strategy.
Brady Signs is a third-generation family business that’s been a premier provider of business signage solutions throughout the North Central Ohio region and beyond for over 50 years. Want to learn how we can convert your brand into a statement using our eye-catching signage for business? We’re here to talk.