Two focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. If you own a brick-and-mortar business, you want to figure out how to get as much foot traffic possible into your proprietorship. The following contributed post is entitled, How Physical Advertising Can Increase Business Foot Traffic.
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Physical advertising can have a huge influence on foot traffic to your business. Physical advertising refers to banners, flags and billboard advertisements (non-digital), that people can see in the real world. Foot traffic is the number of people that visit a particular area, in this case your company location. Foot traffic to physical businesses will result in a direct conversion to customers in the same way you can expect on a website. Here’s how physical advertising can increase business foot traffic.
Physically Signpost Your Business
Research suggests that 85% of people live within a five mile radius of your business. A physical sign will literally signpost your business to local residents, directing them to your location. A sign is a physical way of highlighting your presence in a specific area. Reputable services and high quality banners like this will help physically signpost your business to local customers. 90% of people that enter your business are usually attracted by a banner placed near your store.
The Science Of Advertising
Corporate events have always benefited from physical advertisements like banners and flyers. This is because physical advertising is scientifically proven to draw people to your location. In fact, what is known as ‘out of home’ or OOH advertising reaches 98% of the population and influences over 50% of these individuals every year. Out of home advertising refers to adverts people see when they go outside. With individuals spending as much as 70% of their time outdoors, they are more likely to see physical advertising than the digital equivalent for a high percentage of the time.
Brand recognition has a huge influence on foot traffic to your location. Brand recognition is successful when a customer has associated your branding or logo with your business. Physical advertising like billboards or banners can help expose foot traffic to your business, having a huge influence on brand recognition. The use of physical colored banners can even increase brand recognition by as much as 80%. Higher brand recognition usually translates directly to increased popularity and profits.
Increase Business Credibility
Physical advertisements can act as a boost to your business reputation. High quality physical advertising like banners, billboards or flags can show passing foot traffic that you are prepared to invest in your business. Good advertising can also signal to your customers that you are a credible and high quality business. Brand recognition and credibility combined can have a huge impact on foot traffic, as people usually tend to be drawn towards what they like and trust.
Consistent Digital Advertising
Brand consistency plays a huge role in both brand recognition and foot traffic to your business. If your physical and digital advertising is consistent, then any web traffic in your local area will convert to recognition of your physical advertising. Keep any logos, fonts and colors consistent in both your digital and physical advertising for maximum impact.
Have More Money To Invest In Advertising
Physical advertising is significantly cheaper than digital advertising, and it has a real-time physical impact. Investing in physical advertising leaves you with more money to spend on the quality of the advert, and the volume of the adverts to display in your local area. Physical advertising is considered less competitive than digital advertising, which is why there are fewer cost implications associated with purchasing a billboard or banner. They also last for longer than a digital advert which makes them automatically cost-effective compared to shorter digital campaigns.
Reputation As More Energy Efficient
Many banners and billboards are recyclable, whereas a digital billboard or advertisement costs a lot of energy to run for a comparatively shorter period of time. As many as 80% of millennials consider business environmental policies integral to whether they work with an organization. Through investing in physical advertising, you can reap the reward of additional foot traffic to a more environmentally sustainable business.
Physical advertising can have a real world impact on drawing foot traffic to your business. You are physically signaling to customers your location, boosting your brand recognition, and even boosting your reputation as a sustainable business. If you create a consistent and high quality physical and digital campaign, you’ll benefit from your physical banners even more. With more and more people going outside again this year, you’ll find people are more likely to see a physical advert rather than a virtual one. Try investing in a physical banner this year and see what impact it has on your business today.