For me one of the first consideration when designing a new project is the emotional effect. Dimensional signs command more attention than flat signs or at least they have the potential. Another consideration is longevity. Some materials naturally do better outside than others. But all exterior signage needs extra attention no matter what substrate is used.
With dimensional work there are lots of extra requirements. Firs off is the substrate closely followed by the consideration of adhesive. The latter often determines life expectancy. Paints and installation should not be overlooked. Although I seldom become involved with putting a sign up I do have lots of instructions, for the installers, about the process.
Below are a couple of material substitutes and material failures.