Have you ever paused on your way to read the contents of a large board because something piqued your interest? That is referred to as billboard advertising. This type of advertising allows you to reach as many individuals as possible with the least amount of money. Having said that, this article will teach you all you need to know about billboard advertising, including the cost involved.
What is Billboard Advertising?
Billboard advertising is the process of marketing a company, brand, product, service, or campaign by using a large-scale print advertisement (a billboard, or hoarding to those in the UK). Billboards are often positioned in heavy traffic areas, such as highways and cities, to ensure that the greatest number of automobiles and pedestrians notice them.
Billboard advertising is excellent for increasing brand awareness and reaching as many people as possible with your business (or product or campaign). Billboards have the maximum number of views and impressions when compared to other marketing tactics because they are located in such congested regions.
The Cost of Billboard Advertising
The cost of billboard advertising is determined by a variety of criteria, including the placement of your billboard, overall traffic in the region, and the expected number of people who will see your advertisement. Billboard advertising prices are normally charged on a monthly basis and can range from $250 on a rural roadway to more than $22,000 in Times Square.
Physical billboards cost $750 to $1,500 per month on average in rural areas, $1,500 to $2,000 per month in small to midsize towns, and $14,000 or more in major markets. Depending on the area, digital billboards might cost more than $15,000.
Billboard advertising is classified as out-of-home (OOH) advertising since it reaches customers when they are not at home. Each OOH advertising opportunity (for example, a single billboard) is assigned an OOH rating, which ultimately defines its value and the cost to advertisers.
Geopath is a non-profit organization that estimates the weekly impressions of every billboard in the country and assigns OOH ratings based on technology and media research. (OOH advertising firms [for example, billboard companies] pay Geopath for this data to share with potential advertisers.)
According to Geopath, up to ten determining criteria contribute to an OOH rating and, as a result, the cost of each billboard advertising opportunity.
Here are the three most important factors:
#1. Circulation.
The total number of persons who pass by the billboard each week is referred to as circulation. Local transportation authorities collect this information.
#2. Demographics.
Demographics refer to the age, gender, income level, and other characteristics of the passing traffic. This data comes from travel surveys and municipal transportation authorities.
#3. Impression
The number of people who see the billboard is measured in impressions. This information is generated based on the billboard’s circulation, size, proximity to the road, visibility, the speed at which traffic passes by, and other factors.
Additional Costs of Billboard Advertising
The cost of renting a billboard is not the only expenditure associated with billboard advertising. Most likely, you’ll want to engage an expert to design your billboard, which might cost anywhere from $150 to $500 per hour. Then you’ll have to pay for the supplies for the billboard, as well as any additional fees for installation.
- Costs of design: The prices of designing a billboard range from $150 to $500 per hour, depending on whether you hire a freelancer or a billboard design agency.
- Costs of materials: Vinyl is the most often used medium for physical billboard advertisements, and it costs about $1 to $1.50 per square foot.
- Installation cost: This may be included in your monthly rental payment, but confirm with your provider.
Developing a Billboard Design
If you’re going to invest in an advertisement potentially seen by millions, you want it to accomplish its job. Here are a few billboard design tips to help you create an effective and eye-catching billboard.
#1. Tell a (brief) story.
Successful billboards take viewers on a journey… even if it’s just a four-second glance over the steering wheel. The majority of billboard designs express this tale using graphics and sometimes some text. Most drivers, in fact, stop reading after a few words. Rather than defining an idea or campaign with writing, use your billboard to convey its essence.
#2. Make it bold and straightforward.
Drivers and pedestrians only have just a few seconds to notice your billboard advertisement. Keep your billboard design simple to reach the most amount of onlookers (and possible buyers). After all, some individuals may be speeding by your billboard at 70 miles per hour. Avoid narrow, script fonts and use big, bold fonts against contrasting background colors.
Choose colors that will stand out to viewers. Avoid greens, blues, and browns if your billboard is in a rural area.
#3. Consider the location
Billboards that are well-designed reflect their surroundings. They capitalize on local sports teams, nicknames, peculiarities, and inside jokes. This can increase the billboard’s (and brand’s) impact on individuals who see it.
#4. Make it engaging.
Depending on where your billboard is located, you may be able to design it so that it interacts with its surroundings. This method will make your advertisement stand out among the noise and capture the attention of passersby.
Even if your billboard isn’t in the city, you may use the area around it to your advantage.
#5. Make it unforgettable.
To stand out among the noise and bustle of a typical commute, out-of-home advertising must be unique (or the monotony of a long road trip). Your billboard should be no exception.
Your billboard should communicate a story and/or share a call to action in an intriguing and memorable way. Use emotive marketing methods in your billboard design to make it memorable, whether you appeal to comedy, wrath, empathy, or intelligence.
Statistics on Billboard Advertising
You may be wondering if these billboards work. Do they reach the people you want to reach?
Let’s go through some billboard advertising statistics to demonstrate the power of billboard advertising and to help you plan your next campaign.
- Americans spend an average of 17,600 minutes every year in their cars. That’s about 300 hours every year.
- The United States now has 342,306 billboards.
- There are over 8,000 of these digital billboards.
- OOH advertising accounts for 6% of global ad spending.
- When driving, 71% of people deliberately look at billboards.
- Over half of people say a billboard they’ve seen in the recent month has piqued their interest.
- OOH advertising is 382 percent more successful than TV advertising at driving online engagement.
- When OOH advertising is combined with search engine optimization (SEO), its efficacy increases by 40%.
The Pros and Cons of Billboard Advertising
Billboards can be costly, difficult to read, and rigid, yet they can still be advantageous due to their potential high exposure and concise, targeted message. Before committing to a billboard, familiarize yourself with the benefits and downsides of billboard advertising.
Pros
- High potential exposure
- The cost per impression is low.
- Targeting based on location
- Effective for simple messages.
- Reach a big and diverse audience
Cons
- Immovable
- Short exposure time
- It is difficult to assess effectiveness.
Traditional vs Digital Billboards
Physical billboard advertising has numerous advantages over digital billboard advertising. Because the infrastructure has been in place for several decades, physical billboard advertising is readily available. Furthermore, unlike digital billboards, printed advertisements are not susceptible to errors and power outages.
Traditional Billboards
- Usually less expensive
- More current inventory
Digital Billboards
- More dynamic advertising, which increases ad effectiveness
- Better targeting with the ability to display ads at specified times of the day or on specific days of the week
- More adaptability because ads can be updated and optimized more quickly.
Who Should Use Billboard Advertising?
Billboard advertising is most effective for firms looking to increase brand awareness or advertise specific store locations. Because the audience is already close, billboards situated on highways that advertise local companies are particularly actionable. Furthermore, billboards are an excellent technique to promote your company if you do not want rapid results.
If you’re still unsure whether billboard advertising is ideal for your company, examine the following questions:
- Is your product compliant with the eight-second rule? Billboards are not for you if you can’t make your point in eight seconds. Traditional billboards are likewise unsuccessful when your message requires interpretation.
- Is your product appealing to a large number of people? You’ll squander a lot of money on “unnecessary” billboard impressions if your product is only relevant to 10% of the population. A distributor of vegan food goods, for example, is likely to appeal to the 7% of Americans who identify as vegan.
Let’s take a closer look at what billboards are most suited for:
#1. Increasing the Visibility of a Local Business
The biggest advantage of billboard advertising is that it allows you to reach a huge number of people in a given geographic area. This is ideal for those establishing a business or for local firms in general, whose target audience is large yet concentrated in a small geographic area. Restaurant billboards, for example, are effective because everyone eats. A local business that provides in-home chefs for high-end clientele, on the other hand, may not be a good option for billboards due to its niche target.
#2. Restaurants and retail establishments
- Real estate brokers
- Firms of lawyers
- Financial institutions in the community
- Medical services
- Fitness facilities
- Providers of education on-site
- Services provided at home (e.g., heating and oil, landscaping, construction)
#3. Nonprofit organizations and public service announcements
Keep in mind that billboard ads should not only suit your target demographic but also your marketing objectives. In general, billboards are not intended to convert buyers on the spot, but rather to raise widespread awareness of a local business, service, or group. This can result in a speedy sale for some firms, but the overall goal of billboards is not to create leads or convert leads into sales.
In Conclusion,
Billboard advertising may not fall under the purview of inbound marketing methodology. However, it can still be a highly successful strategy for promoting your items and increasing your brand. It can also help to boost other inbound marketing efforts you’ve made, like blogging, online lead generation, or SEO.
The billboard design tips we’ve given in this article can help you to build an eye-catching, unforgettable billboard for your company. And who knows what else? During their next commute, someone may look out the window and notice your billboard – and become a new customer.
Billboard Advertising FAQs
What does it cost to advertise on a billboard?
Traditional billboards cost between $750 and $14,000 a month on average, depending on all of the above elements. Digital billboard advertisements, on the other hand, range in price from $1,200 to more than $15,000 per month.
How do i put up a billboard?
To become a billboard owner, you either buy an already existing one, place one on your own land, or lease the right to erect a board from another landowner. Any of these methods can offer you with a steady supply of advertising revenue.
