The dance studio industry was expected to generate about $2.1 billion in 2013 and is expected to grow by approximately 3.7 percent each year up to 2020. Since there are no recognized companies with a dominant share in the profits, this means that your dance studio is poised to make more money as each year passes. With disposable income being directly linked to people spending more money on recreational activities such as dance, your biggest challenge in making your business stand from the other studios and fitness clubs that offer dance classes may be in how you choose to market yourself.
One way that you can improve your marketing strategy might be in the use of vintage custom signs that can get you more than just a passing look from potential customers. Here are a few reasons to consider this strategy.
When you are considering using vintage signs, you need to think about which age group you wish to target. Since dance is fluid and may appeal to different generations in different ways, you may want to be specific in your target audience. Millennials, for example, are a quarter of the U.S. population and have a collective spending power of approximately $200 million and influential spending that amasses to more than $500 million. Baby boomers too make up 111 million of the American population and own up to 63 percent of the financial assets of the country, so their spending power is enormous.
Using vintage signs can tap into each specific target audience. Depending on who your audience is, you might want a vintage sign that taps into the 16 dance crazes of the 90s, including tap and "vogueing." You might choose to go further back to the 60s or anywhere in between. The idea is to use vintage signs that can help to connect with the customer base from a specific time period to draw them into your studio.
Tapping into nostalgic marketing
Nostalgia has become quite a marketing tool, which has been mainly pushed by social media. However, it can also work for your business through the use of vintage signage. Nostalgia has been shown to counteract feelings such as loneliness, boredom and anxiety, and since dance is also a universal language that also does the same, it might just be a logical pairing for your business purposes. It can even be used during the cold winter months to inspire feelings of warmth, and a positive association like that could most certainly be good for your business since many people make decisions about businesses based on brand impressions alone.
When using nostalgic marketing through your vintage sign, be sure to directly speak to your target audience. Millennials are known for gravitating to concepts that are thought to be authentic and different, while Baby Boomers and Generation X audiences gravitate to images that directly tap into their memories. It is therefore important that if you are seeking a specific target group, you need to know their preferences and utilize it while being able to accommodate others.
Talk with a company that specializes in custom signs or click here for more information.