The signage industry is booming, bringing with it many opportunities—enough to encourage new businesses to enter the scene. The industry offers plenty of digital and printing franchise choices, giving up-and-coming franchisees a place to start.
But rapid growth entails numerous changes, and as an experienced franchisee, you must be aware of the three biggest trends in the signage industry as it can help you make you decisions that lead to lucrative outcomes.
The Rise of Digital Signage
Market research shows that the digital signage industry is worth $13.8 billion dollars this 2017, representing opportunity in this realm of marketing. In addition, Recent industry insights show that people are more responsive to digital display than even before. For example, recent data shows digital signage improves overall sales by 31.8%.
This only goes to show that your sign business can grow further if you combine the traditional printing service with digital signage. While it is true that printed marketing tools still leave a stronger impression on customers, going digital can potentially boost your business’s profits even more.
Embracing Wide Format Print
Information aggregator InfoTech expects that wide format print volumes will see a compound annual growth rate of 6.5% from 2015-2020, which means you need to embrace the wide format print.
Moreover, wide format applications increased drastically with 41% growth in wide format volumes. What you should understand from this is if you are not engaged in providing wide format print yet, you should start now.
Using Social Media for Traffic
You might think that social media and the signage industry are two very different areas, and you’re correct. But what you must understand is that the industry and social media are similar in one aspect: marketing.
The two areas act as marketing tools for your customers’ products or services, and using that to your advantage can help you draw in more clients. Whether you use social media yourself to generate buzz around your printing franchise, or use it to showcase customer testimonials, you can’t go wrong with a good approach to social media.
Because these trends necessitate change, you must learn how take advantage of them. Of course, you can prioritize your signage franchise’s growth over anything else, and that is achievable by simply following any changes that arise in the industry.