Can Onsite Signage Increase Your New Developments Perceived Value And Help Maximize Your ROI?
In case you’re wondering what perceived value means, let’s take a closer look, shall we?
And then let’s see how you may increase the perceived value of your new or even existing multi-family, single family or master plan community development today.
Then you decide if there is a direct correlation between perceived value and maximum ROI.
OK, so how are we defining “perceived value”?
Well, in the most simplest form, perceived value is the perception of what a buyer, renter or lessee may expect to pay if they set down roots within your community.
A community which may be projecting an added value of prestige, safety, sense of community, security, caring up keep, well managed, neighborly, and just about any type of positive thought which may enter their psyche of a renter or buyer when they view your onsite directional or community signs.
Proof Of How Perceived Value Works
For proof, let’s look at an example of how perceived value works.
Awhile back, there was a TV commercial which introduced a new type of mustard. The commercial created a “perceived value” of prestige, along with an expectation of costing a little more than other types of mustard.
How? Well, the agency simply placed the mustard in the hands of a distinguished person in the back seat of a Rolls Royce.
Thus, by subconscious association, the mustard instantly positioned itself as a prestigious brand which would sell for a premium.
And sell it did.
After all, everyone subconsciously wants to feel that they are able to afford a little bit of luxury in their lives.
So how does premium mustard relate to a multi-family and single family developments onsite directional and informational signs?
Well, take a look at the directional ID sign in the photo above.
And ask yourself “what type of feel or perceived value is this sign projecting?”
Did you notice the layout of this sign is projecting…
- Classy directorial arrows
- Bronze color low key logo
- Off-white creamy text
- Stone looking panel print background
- Finished inset channel post
- Post accent caps
So overall, what is your perception? Do you see the perceived value connection? Will you expect to pay a little more to “belong” in a higher perceived value community?
Will Spending A Little Bit More On Your Onsite Signs To
Increase The Value Of Your
Rental Pricing, Sales Price, And Square Foot Lease Cost?
Do you see how you may unwittingly increase the value of your rental pricing, sales price and square foot lease cost by simply spending a little bit more on your developments onsite directional signs and signage?
Now, let’s turn the tables and further present a compelling reason why you may want to consider paying more for onsite sign design and signage.
Let’s say you’re in the market for a new or existing home? Or you’re looking for an ideal apartment community to move yourself and or maybe your family into?
And let’s say your driving around the Las Vegas valley in search of a place to call home.
And let’s not assume. Let’s say you actually actual drive around town looking for the perfect rental or place to call home.
And you come across a few communities where you spot some onsite directional signs which are dilapidated. Or the signs are produced on a white back ground with black vinyl letters on roughshod plywood panels with cockeyed bent post.
How will you “perceive” the value being offered by this developments onsite directional sign?
Will you not expect to pay rock bottom pricing on your rent, or purchase, or even a lease?
Even if the community is in a newer part of town, will cheap looking generic signs grab your attention, and get you to visit the development? Or will you hit the gas, and speed away -fast?
Now, let’s say you suddenly drove up upon the sign you see at the beginning of this release.
Need we say more?
The point is, anyone may design, produce, and offer to sell you onsite signage. But only a few may deign and produce onsite signage which will add perceived value.
Signage which encapsulates and projects a common comforting theme.
And onsite signs which attract verses distract…
Are you starting to see the big picture now?
Do you see how onsite directional and community signs have the power to create an added “perceived value” for your new multi-family or single family development?
Will you be spending more on your next sign purchase now?
How A $50 Monthly Increase Easily Covers Your Sign Cost
Let’s take a quick look at the numbers, shall we?
What if you just completed building a brand new 100 unit apartment community. A community with upgraded perceived value onsite signage. And what if typical market rent for a 2 bedroom was going for $1300.00 a month.
Now imagine if you increase your rent by $50 a month per unit to $1350. And you are able to do this on all 100 units.
Well, the outcome will be simple.
Because, in theory, you increase your rental income by $5000 /Month (100 units x $50). But let’s say you’re averaging 96% lease up rate.
You would still be generating an additional perceived value Monthly rental income of $4800 / Month (96 units x $50).
Which is over $50,000 a year.
Which means, the additional cost to go with custom onsite directional community signs and signage just paid for itself.
Now image being able to command an extra $100 a Month? Or getting an additional $5000 a unit on new homes sales, and all of it.
Do you get it?
Bottom Line -First Impressions Matter
Bottom line is, and as we’ve shared many times before, onsite signs and developmental signage is usually the first impression which are being presented to the visual minds of new renters or buyers.
So why not go with higher cost, elegant looking, community signs? And start maximizing the “perceived value” of your new master plan, multi-family or single family development today.
And, if you want some guidance or help with custom onsite directional sign designs or want to create value added community theme appeal signage, then contact Signs West Outdoor of Las Vegas today.
And start maximizing your developments “perceived perception” as thee place and location to call home.
Contact Signs West Outdoor right now. And discuss how you may increase your communities “perceived value” with one of our sign experts today.
Until next Month release, will you pass the mustard!
