1. It's not making a great first impression
The most obvious and urgent cause for replacing your monument or pylon sign is evidence of aging. Faded or outdated colors, rusting, or ineffective electrical components are among the chief reasons to promptly pursue a sign replacement.
Any evidence of damage or disregard will suggest to would-be customers that your products or services carry a similar level of unreliability. You may think the lights on your sign are working fine, for instance, but if they have dimmed and lack the vibrancy customers expect, it will dim their view of your business – or that of your tenants. In fact, almost two in five shoppers (a four-year study average of 38.5 percent) say they have made quality assumptions about a business based on whether that company has clear and attractive signs (Sign Research Foundation).
Similar to creating curb appeal when selling your home (fresh paint on the front door, new bulbs in the porch lights and neatly trimmed shrubs), your sign is an important part of your business' curb appeal and should always create the best possible first impression.
Download our free Shopping Center Sign Pricing Guide. Learn what you'll pay for a variety of signs like monuments, tenant directories and way-finding.
2. It's becoming invisible
Your sign may appear to be in mint condition, but if it has been around for a while it will appear dated to those who see it regularly. In fact, if customers have been seeing the same sign for 10, 15 or even 20 years, it may become almost invisible to them. Imagine seeing the same ad, in the same position, in the same daily newspaper for 10 or more years. Do you think you would even "see" it or pay attention to it after a while? Your sign gets a ton of "impressions" but it also runs the risk of becoming invisible over time.
A sign that has been around for too long can also suggest to the outside world that a business is stuck in place. Meanwhile, a rival down the street with new signs will seem more progressive and innovative. We find that shopping center operators are often surprised at how revelatory a new sign can seem. It has the effect of “waking up” the entrance to your shopping center and making your center seem new again.
3. It's not producing ancillary revenue
Traditionally, monument and pylon signs have featured the name of the shopping center more prominently than the tenants that actually draw visitors. And some may only feature the name or logo of the anchor tenant but not smaller tenants. Both scenarios are missed opportunities for generating ancillary revenue.
A new sign provides you the opportunity to offer advertising to many, if not all, of the tenants in your center. Also consider adding a digital display to provide tenants the option to advertise special events and sales. This type of advertising is more valuable to brick and mortar retailers than other forms of promotion such as newspaper ads. The new revenue generated through your sign will not only pay for your sign's construction in just a few years but will also become a nice profit center for the majority of the sign's useful life.
Your monument or pylon sign is the workhorse of your center's and your tenants' marketing programs. Take a closer look at your sign today and try to see it as a customer would. Are you making a great first impression? Are you prominently featuring your tenants' brands? Does it stand out from others in your area and encourage visitors to choose your center when they need to do some shopping? At Ad Vice Studios, we always say that you need a Sign That Sells. If your sign isn't "selling," then it might be time to start over.
Considering an upgrade to your pylon or monument sign? Contact our team at Ad Vice Studios to schedule an initial consultation.
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About the author:
David Goodwin is the president of Ad Vice Studios, a Richmond, Va.-based marketing services and sign design company. David has built his career and his business collaborating with property managers, developers and architects to transform commercial properties into attractive destinations with unique brands and customer experiences.
Ad Vice Studios
David Goodwin is the president of Ad Vice Studios, a Richmond, Va-based marketing services company. David has built his career and his business collaborating with property managers, developers and architects to transform commercial properties into attractive destinations with unique brands and customer experiences.