Using one medium for your advertising and marketing purposes isn’t wise. You should track your results and be diversified when it comes to your marketing. This is the biggest reason why mediums like billboard advertising have become so common. These mediums provide readily verifiable data on the quantity of traffic your ad has received. Like most business owners you probably have thought about billboard advertising but have probably found yourself wondering, how much does a billboard cost?
Billboard advertising has continuously shown to be a viable option for businesses to use. In this article, we will discuss how much a billboard may cost and what you can expect in regards to this form of advertising.
Billboard pricing, as is the case for most advertisements, relies on a CPM model, that’s the cost for one thousand advertising impressions. Obviously, CPMs differ between companies as well as particular billboards. According to the Outdoor Advertising Association of America, “the average CPM for bulletins (large format billboards) is between 2 and 18 bucks, and also the average CPM for posters (smaller format billboards) is between one and 13 dollars”. So let’s assume 100,000 impressions per month for example, a bulletin would cost 300 to 1,800 dollars and a poster between 100 and 1,300 dollars per month for your billboard campaign.
Just like any product or service, demand and supply play a part in determining the cost of a billboard. The more appealing it’s to advertisers, the greater the price like place, demographics and audience impressions, and also the type of sign.
A billboard’s positioning is the most crucial element when deciding its own price. Aside from evaluating how many individuals are going to be near the place the ad is located and what type of influence the ad will have on those people. Questions such as the following will play a part in determining cost:
Is your billboard part of people’s organic gaze?
Can there be anything partly obstructing to the view?
What are people doing as they pass by your advertisement?
Are there any eyesores nearby?
The popularity of a location will also influence a billboard’s price. Whereas one in a more populated area can cost tens of thousands of dollars, A billboard in a not so urban area can cost as little as 250 dollars. A billboard in Times Square, for example, can price 1.1 to 4 million dollars every year.
Impressions & Demographics
With print billboards leased by four-week periods, the entire cost for the month will be that the CPM. But can owners know how many impressions their billboards get? This is really where out-of-home audience analytics companies like come in to play.
Using location information from cars and mobile phones, together with custom information resources like traffic statistics and pedestrian count, Analytic companies are able to set up frequency and the reach for any billboard. Then, using the size, message and visibility of the sign, and the dwell time (time idle before the billboard ) or the speed at which individuals are passing, the number of impressions are then estimated.
With so many factors that influence the cost, there is no concrete answer as to how much a billboard costs. Yet if you are looking to rent a billboard for your marketing campaign, be sure to carefully consider all factors to determine which billboard is best for your campaign goals.
The good news is that when it comes to billboard ads, this advertising medium can work with almost any budget and when combined with your other marketing campaigns can deliver great success and ultimately increased traffic or sales. One final note, billboard costs are not set in stone and can often be negotiated with the owner or advertising company.
This article is originally posted by Krisna Garcia