Organizations are now actively seeking signage solutions – both traditional and digital – for increasing their market appearance and better customer experience. Business signage has now become a tool to express the foundation and overview of any business.

While traditional signage options have remained a classic way of marking business territory, wayfinding and labeling purposes. Digital signage has revolutionized the way of advertising businesses in an advanced and tech-friendly manner.

Role Of KPI In Measuring Business Signage Progress

A key performance indicator is one of the finest tools to track progress of any business aspect. Whether it is increased awareness, footfall or sales – a well established KPI can reflect many trends in your business. However, developing correct and accurate KPI is central to any business. Your KPIs should be:

  • Specific
  • Measurable
  • Achievable
  • Realistic
  • Time bound

Why Are KPIs Important in Business Signage

Signage is a primary tool for any business to gain identity. It marks your business location and provides customers to see where your shop is located. Once that is sorted, internal signage options can help in easy navigation, providing valuable information, introducing new products or announcing any promo deals or discounts. In order to gauge the progress of each, KPI’s can help decode necessary information and insights.

Types of KPIs In Business Signage

There are several KPIs that you can measure to determine the performance of your business signage campaign – whether traditional or digital. Your business signage goals and objectives can help you choose the right performance metrics. Here are some approaches you can take help from!

  1. Increased Footfall
    The main focus of business signage is to let customers know that you exist – whether as a service or retail industry. One of the main quantifiable KPI for this can be foot fall. The number of people recognizing your business and entering the premises as a result of seeing the signage can provide valuable information in terms of signage effectiveness.
  2. Sales Volume
    Increase in sales attributed to the signage can be a potential indicator for its effectiveness. you can compare sales data before and after the signage installation – while keeping in mind other seasonal variations, peak factors and other external conditions. This can also come under return on investment.
  3. Customer Conversion Rate
    Another useful metric to gauge the success of your business signage can be customer conversion rate. This is a percentage of visitors who make a purchase after being influenced by your signage. This can either be an advertised standee outside your store or a digital sign that displays the product. Customer conversion rate can be calculated by this simple formula – amount of purchases/number of visitors * 100.
  4. Brand Awareness
    Signage provides for a visual memory that stays with passersby and potential customers. It is essentially an extent to which potential customers recognize and remember your brand due to signage. A qualitative survey, social media mentions and brand recall studies can provide information about brand awareness.
  5. Lead Generation
    A combination of business signage can also increase the number of potential customer inquiries and contacts generated. You can track phone calls, website visits, email inquiries to track the changes in consumer behavior after signage installation.

Final Words

Signage installation is a primary investment for businesses. Establishing the right KPI can help quantify the impact of business signage on your sales, growth and recognition. If you want to deploy the right business signage options at your physical store, Unity Signs can help with practical advice and installation expertise. Contact us at (281) 679-5152.

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