Compact binary mergers are prime sources of gravitational waves, targeted by current and next generation detectors. The question "what is the observable electromagnetic (EM) signature of a compact binary merger?" is an intriguing one with crucial consequences to the quest for gravitational waves. We present a large set of numerical simulations that focus on the electromagnetic signals that emerge from the dynamically ejected sub-relativistic material. These outflows produce on a time scale of a day macronovae - short-lived IR to UV signals powered by radioactive decay. The interaction of this outflow with the surrounding matter inevitably leads to a long-lasting remnant. The expected radio signals of these remnants last longer than a year, when the sub-relativistic ejecta dominate the emission. We discuss their detectability in 1.4 GHz and 150 MHz and compare it with the detectability of short GRBs' orphan afterglows (which are produced by a different component of this outflow). Mergers with characteristics similar to those of the Galactic neutron star binary population (similar masses and typical circum-merger Galactic disk density of ~1cm^-3) taking place at the detection horizon of advanced GW detectors (300 Mpc) yield 1.4 GHz [150 MHz] signals of ~50 [300] microJy. The signal on time scales of weeks, is dominated by the mildly and/or ultra-relativistic outflow, which is not accounted for by our simulations, and is expected to be even brighter. Upcoming all sky surveys are expected to detect a few dozen, and possibly more, merger remnants at any given time thereby providing robust lower limits to the mergers rate even before the advanced GW detectorsbecome operational. Macronovae from the same distance peak in the IR to UV range at an observed magnitude that may be as bright as 22-23 about 10 hours after the merger but dimmer, redder and longer if the opacity is larger.