Discontinuing a Product: Now What?

Discontinuing a product is a difficult, often stressful decision. After making a risky investment, it can be difficult to pull the plug on a part of your business operation. But when it comes time to actually cancel the distribution, what do you do with business signs that you’ve created for product promotion? Today, let's take a look at what small business owners should do after discontinuing a product. 1) DO NOT “White Out” a Section of the Sign Are your discontinued products displayed on your outdoor advertising? If so, it’s time to get new business signs- ASAP. All too often, companies will discontinue a product or service, and “white out” the part of their sign that once displayed that offer. To give you a better idea of what we mean, take a look at the example below: Advertising statistics show that signage can improve business sales in a number of ways. Don’t compromise the first impression customers have of your company just to save a few dollars on the “front end.” 2) DO Update your signage to reflect internal changes. Are you discontinuing a product to make room for new lines? Are you under new management? If you can communicate the need for product discontinuation in a positive manner, do it. Take some time to update the signage outside your business. Which one looks more appealing to you? Most customers agree that signs that are difficult to read make them less inclined to visit the store. 3) Advertise continuing products with full gusto If you’re discontinuing a product, the chances are you’ll have more time to spend on the items you are continuing to distribute. Now is the time to take charge of your sales by reaching out to larger distributors via phone and internet, but don’t undervalue the importance of serving your local market as well. Participating in trade shows, attending local seminars, and getting involved in your community are all great ways to advertise your other products more effectively. 4) Connect your Social Media to your Signage There is no doubt that social media is a leading influencer of millions of consumers today. With that said, it’s important to find innovative ways to connect your business’s physical presence with its online persona. The next time you invest in new business signs, try adding a small hashtag or incentive to your customers for sharing a post at your location. Then, monitor your social presence to see how your signage drives traffic! Discontinuing a product or service is difficult, but it can also offer opportunities for new growth when done correctly. If your company is about to discontinue a product, be sure to update your signage with accurate information. Use positive language to discuss the change, and spend your extra time boosting the visibility and appeal of your other products. If you’re not sure which business signs are best for updates like these, we recommend vinyl banners or window graphics.