Billboards are popular with companies all over the world for a reason. They effectively market and promote products and services to customers. It leads to billboard ROI easily and quickly increases compared to other types of marketing stunts. In fact, in 2021 the global billboard industry reached over 18.5 billion USD. A 7 percent addition is expected by 2026, which means an additional 1.2 billion USD. 

According to the Out of Home Advertising Association of America (OAAA), approximately 82 percent of viewers can remember seeing an ad seen on a billboard over a month ago. One of the clear reasons for the clear memory is that 32 percent enjoy seeing billboard ads while 9 percent are massive fans of the marketing spectacle. These numbers can pretty much tell you why 79 percent of the best advertisers admit to increasing their marketing expenses, particularly for billboard promotions. 

If you also want to benefit from a fast billboard ROI, use this marketing tool to promote your products and services. Of course, ensure you understand what it means to work on this type of marketing stunt before diving deep into this industry. 

Defining Billboard ROI

Billboard ROI - Jungkook Times Square
Calvin Klein Billboard at Times Square

The billboard advertising ROI is technically the goal when using this marketing tool for your promotional needs. Billboard refers to the digital device used for marketing needs while ROI or return on investments refers to the calculation of the value of the investment. 

The higher the billboard ROI, the more successful the venture is. The equation for ROI involves deducting the cost from the profit and then dividing the result by the cost. The higher the ROI, the more successful the marketing process is. Traditional billboards are known to slightly be more effective than digital billboards but there are 

While digital billboards may seem to offer less, they provide positive brand recognition for enterprises. As long as the ratio of ROI falls between 3:1 and 5:1, it means that the advertising is effective. 

Meeting Campaign Goals through Billboards

When using billboards for your company’s advertising efforts, you need to consider the goals you set for this project. Here are some of the marketing goals you can consider for your company and its promotions:

  • Audience Awareness – Provide the audience with first-hand knowledge about the brand and the new offers from the company. 
  • Target Market Consideration – Sway people’s purchasing decisions and get them to choose your products instead of what they are used to buying. 
  • Brand Trust Boost – Increase the market’s loyalty to the brand and the offered products and services. Be able to build a stronger connection with customers. 
  • Conversion – Convert marketing stunts into sales by convincing people to buy your products and availing your services. This translates to the billboard ROI. More than just sales, you can increase your site traffic and app downloads too.

Is Marketing Through Digital Billboards Effective?

LED-Billboard-Price-Article1
LED Billboard

The main reason why digital billboards are popular is primarily due to how effective it is. The billboard ROI is higher compared to other marketing tools. Outdoor marketing has incredible potential when catching the attention of the target market. 

The billboard advertising ROI translates to an 86 percent recall rate. Considering its outdoors, the market reach is significantly broader. You can get the attention of so many people compared to other types of promotions. Just make sure you choose the billboard from strategically located ones. It is also necessary that your content is effective more than just the marketing vehicle it uses. 

But how will you know if your digital billboard is a major ad success? 

There are different ways you can track the performance of your billboard. In many cases, billboard ROI sales are not the only basis for its success. Here are some of the ways you can track your results:

  • Shop Visits – Track the number of customers who visit your shop before and after the billboard campaign. If you have multiple shops, focus on the shop nearest to the location of your billboard.
  • Survey – While it may take more effort, conducting a survey offers a more thorough look at what the market thinks about the campaign. You can include questions about brand recognition and favorability, getting people’s thoughts about the company before and after the billboard was installed. Make sure to ask about the content and location of the billboard too. 
  • Social Media Mentions – If more people are talking about your campaign, it means that it’s effective. You can also include a hashtag on your billboard’s content to easily track social media posts. Make sure to check out the company’s social media handles, including the account’s engagement, from shares to new followers. 
  • Downloads – If the shop has the app and its promotion is on the billboard, the number of downloads after the promotion can be the basis of your marketing success. 

Elements Affecting Billboard Advertising ROI

3D Billboard - Baby Tiger
3D LED Billboard

Maximize billboard ROI by taking into account all the elements that can change the value of your returns. Once you have a handle on these factors, you will have the ability to use them to your advantage. These elements include the following:

Budget Stretch

Consider your budget when planning for your billboard campaign. For a tight budget, you will be quite limited in what you can choose especially in terms of billboard size and content. You will need to focus on the most basic elements of the campaign and get a location that doesn’t cost too much. 

Size of your Billboard

Bigger billboards translate to better target market reach. However, it also costs more money. You need to weigh your chances for better ROI with a larger screen versus at an expensive cost or a smaller screen at a cheaper cost. 

Marketing Goals

When planning your spectacular, make sure you clearly state your marketing goals. This will help you be able to track your billboard ROIs. Make a list of what you want to accomplish with your campaign and construct them in a way that they can be evaluated. 

Content & Design

The actual content that will be displayed on your billboard will play a role in the success of your campaign. Create content with a clear message to your target market structured in a creative way. Make sure to make it as interesting as possible to easily get people’s attention. 

More than just its visual look, don’t forget to consider the format and size of your content. Include some real-time information on your billboard like weather or sports scores to quickly get people’s attention. You can also make it more enjoyable through interactive and dynamic content like 3D animation. 

Location & Foot Traffic

The location of your billboard can contribute to your campaign’s success. Screens installed in high-traffic areas like public streets and highways cost more so if you have a tight budget, these may not be an option for you. However, they have also a higher chance of faster and higher billboard ROI so it’s better to weigh your options first before choosing the cheapest one. 

Target Audience

Every brand has a target audience and when planning your billboard spectacle, you need to consider it. From their demographics and lifestyle patterns, you need to know the ideal time when to show your content and the ideal location where your target market frequents. 

How much is a billboard worth? 

LED Screen Billboard

If you’re considering a billboard for your next marketing stunt, you should know the expenses you’ll need to prepare for. The costs may be affected by specific factors, including location, size, used technology, and content displayed. These need to be considered when thinking about your billboard ROI since they will get a chunk from your expenses and computation on revenue. 

Traditional billboards are significantly more affordable than digital billboards but the latter also provide better market reach. If you’re willing to take the risk, expect to spend around $10 daily or $2,100 monthly for a digital billboard. 

Check out the following billboard costs based on specific elements considered:

Factors for ConsiderationCost ($)
Location
    Rural Areas250
    High-traffic Areas50,000
    Average850/month
Content Design
    Traditional Content2,000
    High-quality (Possibly 3D)Starts at 100,000
    Outsourcing Content  150+ in average
    3D animation outsourcing1,000 per hour

What’s on Your Billboard ROI Calculator and Tips on How to Increase It

Billboard ROI - Meta Quest 2 - Piccadilly Circus
Meta Quest 2 Billboard at Piccadilly Circus

Take out your billboard ROI calculator and check out how your campaign is performing. You can also do the computation manually and figure out if you’re having success with your campaign. If you think that the numbers do not match your expectations, here are some handy tips you can apply:

  • Choose a digital billboard – While it may be more expensive, it is also more engaging and eye-catching. This means that you’re bound to get faster and higher returns when using the digital screen than the traditional one. It is also more flexible and convenient to use so decide if these elements make up for the added costs. 
  • Pay attention to the time and location – High-traffic locations translate to higher billboard ROI. This goes the same when you choose the time when huge crowds pass by the location. If you want to make an impactful campaign, ensure that your billboard is installed in these high-traffic areas and that they are shown during the right time. 
  • Show interesting content – To elevate your campaign, stick with high-impact and memorable content. You can make it colorful and interactive to easily catch people’s attention. You can even create a story that will hook people’s emotions and force them to stare at your content. The possibilities are endless. 
  • Be straightforward with your message – Keep your message bold and easy to understand. The more complex it is, the less interesting it will be for people. And since most billboards are seen by people passing by, they only have a few seconds to understand what they’re looking at. And if you want the attention converted to sales and increase your billboard ROI, you need to do everything to get their attention within that limited timeframe. 

Conclusion

To get the best billboard ROI from your spectacular campaign, you need to learn about the ways to optimize it. Look into the different elements that can affect the success of your promotion. Check out the ones you can use to your advantage to improve your marketing returns. Finally, make sure you have an eye catchy content that will easily get people’s attention. If not, everything will be wasted so make sure to focus on this factor too.

Similar Posts