More and more multi-tenant property owners are partnering with their tenants to generate revenue using LED signs. While this isn’t an entirely new concept, it’s becoming easier for a wider range of owners. The move to cloud-based management and increased access to higher quality signs creates a win-win situation for the tenants and property owners.
Options and Advantages for Everyone
This approach to digital signage gives you some good options. You have a built in customer base with a vested interest in onsite advertising. This is especially true with larger malls and shopping centers, where it’s worth the money to stand out from the crowd. You can share the upfront cost of the LED sign with your tenants, or put it up yourself and charge for time slots on the display, or a mixture of both.
These sites can also have some great advantages with regard to regulations and permits. Many sign codes allow for increased square footage specifically for these types of properties. This is typically put in place to allow for better visibility for all the tenants. Additionally, the length of the street frontage and property size can also provide advantages for increased height and size. This can be used to help get the most exposure from the LED sign.
More Space for More Revenue
While it is important to keep the traditional identity signage, using some of that space to increase the size of a high quality LED sign can bring more people to the site in general. Shoppers may initially stop in from a specific advertisement on the sign, but shopping is rarely a single purchase event. Instead, it’s a chain reaction of convenience and impulse buys. Getting more people on the property is good for everyone.
This may also be one of the best ways to generate advertising revenue for the property owner. Multi-tenant properties have the unique benefit of being able to advertise more than one business on a sign, but it is still considered On-premise advertising. This means the property owner not only has access to lease revenue, but can also gain advertising revenue from the display. Good signage like this also helps retain existing tenants, as well as ensuring the site is attractive to new ones. It is a solid investment when operated correctly.
Keep in mind, this isn’t just for large sites, it is just as effective for smaller locations. Having 5-7 tenants just means they potentially have more time on the display, keeping your site attractive for existing and new tenants. This also doesn’t just apply for traditional shopping centers or malls. Signage works great on vertical office spaces as well.
A Powerful Asset for Multi-Tenant Properties
This is not unlike operating a mini-billboard. Digital billboards aren’t just for the big boys anymore. The market is full of successful private operators in both traditional digital billboards, and on-premise multi-tenant sites. It’s no secret that there is a lot of money to be made in advertising. It’s a huge industry for a reason, and LED signs are a part of it. If you’re a property owner who hasn’t taken the plunge, take a look and you may find a new source of revenue, and a powerful advertising asset for your tenants.