The Cost Effectiveness of Billboard Advertising
One of the most common concerns about billboard advertising is if the cost is worth it. The cost to rent a billboard varies widely based on its location, but it can still be costlier than other forms of advertising. However, the benefits of billboards and the number of potential customers they expose you to nearly always make the cost worth it. To consider the cost effectiveness of billboards for your organization, consider the following questions:
What are the best businesses for billboards?
Local businesses that appeal to the general population tend to thrive on billboards. These include businesses like insurance providers, dry cleaners, doctors, radio stations, real estate agents, and more. Billboards expose your business to a huge variety of people, so a service with the most mass-market appeal is going to be able to turn more of those viewers into customers. That’s not to say that all business can’t benefit from billboards to some degree, but it might take longer for niche businesses to reach their target customers and see a return from the billboard investment.
Do you want to build brand awareness?
Billboards are excellent for building brand awareness and are one of the most cost-effective advertising methods to build your brand. Because billboards reach such a wide variety of people and expose people to your message many more times than a radio commercial or internet ad, you are likely getting more views per dollar spent, which is huge in the advertising world. When you think of the size of a billboard compared to a small print ad, size per dollar is spent is definitely worth it. The repetition of seeing your billboard multiple times puts the message into potential customers’ photographic memories. This brand awareness might not always translate to direct sales, but it plants your company in the minds of potential customers until they need your service.
How can you turn a billboard into sales?
A huge benefit of billboard advertising is that it brings the customers to you. Instead of going out of your way to reach out to potential customers, billboards provide you an opportunity to share your message and brand with thousands of people as they walk and drive past your sign—you’re just tapping into the groups that are already in the area. The savings from not having to spend as much time finding and researching potential customers alone can make billboards incredibly cost effective. Billboards also tend to lead to a quick spike in sales, especially when used correctly. Place a billboard by your store or near a busy intersection and use it as a way to point customers to your business, and then watch the customers float in much faster than any other form of advertising because people are already out and about when they see your message.
Billboard advertising is undoubtedly an investment, but it is a cost-effective way to get your brand and message in front of a huge amount of diverse people and can lead to great success for your company when done strategically.