Advertising your company’s product or service is a crucial component in deciding if the company will flourish or fail. No one wants their business venture to fail. So what can be done to increase your company’s chances of succeeding in the marketplace?
To answer this question, it is necessary to examine what type of advertising consumers best respond to in terms of where they spend their money. Consumers are inundated with more than 3,000 advertisements on average every day. These may take the form of billboards, glass door business signs, display racks, and video and audio commercials.
Creative retail display ideas can influence customer activity. For example, Brigham Young University found in one study on the habits of shoppers compared the difference of sales between products with a sign and those without. Perhaps not surprisingly, those products with a sign outsold the competition by roughly 20%.
In today’s world, much of the information we receive contributes to our shopping habits, whether we intend it to or not. Consider an article you read that cites a study that drinking coffee each day provides the drinker with some much-needed daily antioxidants. Then, later that day or a few days later while shopping you see a product sign display for coffee boldly declaring the antioxidant level of their coffee.
What does this have to do with your product? In one Mass Merchant study conducted in 2014, participants admitted that about 16% of their purchases were made due to an in-store display. That boils down to one fact: to better sell your product, a physical advertisement is a good idea.
A physical advertisement is not a radio advertisement or 30 second commercial. These can be a glass door business signs, or indoor sign stands with the product or pamphlets about the service your company offers. There are unique retail display ideas for any product, you just need to brainstorm to find the best one for what your company offers.
It can be difficult to create an advertisement that will convince customers to buy your product or service. Only after the advertisement has been created and gone out into the world will it be possible to determine its viability. It may seem that putting the time and money into an involved custom retail display could very likely have little effect on sales.
This is an erroneous thought pattern. In the study mentioned above, customers made a spur of the moment purchasing decision simply because there was a sign. Not that it was the best advertisement for a product the consumer had ever seen. Simply because the product had a sign present, consumers purchased that product 20% more than the competition who was without one.
You might have glass door business signs for your business or elaborate retail displays in a store. Either are equally likely to increase sales simply by being seen by consumers. Therefore, take the time to create a thoughtful advertisement to put around town. Consumers will see it, and with no further work on the part of your company, will begin to influence their purchasing decisions.