The University of Cincinnati completed a 2012 study on the economic impact of signage that concludes that pylon signs increase teller transactions at banks by 15 percent. The examples shown are not from the bank who provided data for the study. These photos are examples from a recent rebranding project L&H performed for Provident Bank. Here is an example of a typical pylon sign at the bank:
A bank with more than 500 branches nationally agreed to provide data for the study about the use of signage as it pertains to branch characteristics and performance.
Some of the operating characteristics in retail banking are similar to those in the retail trade and accommodation/ food service industries. For example, in resource materials prepared for its members, the Bank Marketing Association advises: “Banks need to think more like retailers. Convenience retailers such as restaurants or gas stations know the value of good visibility. If your customers can’t see your sign or find your building, they won’t visit your branch” (Beery, 2002).
The study focused on 47 branch locations within a single metro area, which eliminates many non-signage factors that would be difficult to control for. The second part of the analysis examines the impact on different sign types on branch performance.
Pylon signs were the clear winner, statistically shown to increase monthly teller transactions by 15 percent:
Monument signs had no statistical impact on transactions, statistically no different from zero:
Wall signs also had no statistical impact on transactions, statistically no different from zero:
Visibility impact was also analyzed. The national retail banking business case study found that pylon signs were strongly associated with high visibility, monument signs were moderately associated with high visibility, and wall signs contributed to identity but not visibility.
Clearly pylon signs are the best investment for banks and retail businesses.>Click here for your Free e-book on bank merchandising strategy