Richard Branson, the British entrepreneur who founded the Virgin brand, relies on intuitive instinct like most other entrepreneurs, rather than a large number of research strategies (Bob Schmetterer, "Leap: Revolution in Creative Business Strategy").
For years, small business owners have instinctively know that LED signage makes their business more successful. Now, we also have enough evidence.
Watchfire recently participated in the National Signage Research and Training Conference (NSREC) in Cincinnati. The theme of the conference was "Science Signage." The conference sponsors announced a study on the economic value of signage initiated by the University of Cincinnati.
A survey of 162 small business owners revealed that digital signage is an important tool for increasing transactions and buying and selling. 64% of the business owners surveyed indicated that after improving their digital signage (larger, change of location, etc.), sales increased by an average of 12%. They also pointed out that the volume of transactions increased (59%) and profits increased (56%). 13% need to hire additional staff.
The Century Banquet Center, headquartered in Detroit, is a good example of how LED signage can help companies grow. The agency replaced the 32-inch double-sided handmade letter board with 48-inch colored LED signage, which doubled the number of weddings and other events it held in just two years. One of the reasons why the agency manager stated that the increase in booking amount is because the signage can play digital photos of newcomers when they leave the church, and signage can also welcome guests attending the banquet at any time. In China, the adoption of interstellar digital signage by companies such as the Yigong Group, Nokia, Alibaba, and Alipay has effectively promoted the promotion of corporate digital image and office efficiency, and is a powerful weapon for corporate branding and digital marketing.
Research at the University of Cincinnati also confirmed that the industry guidelines that have always come from the US Small Business Administration â€œhave not a properly designed commercial digital signage and that commercial venues cannot fully realize their potentialâ€.
We look forward to reading the full report of the University of Cincinnati when it was published. We believe this study is very useful for city planning officials because they reviewed the history of digital signage and reflected the advanced technology of today's commercial digital signage.