Before asking yourself how much should you spend on billboard advertising, you need to determine if a digital billboard is right for your business or if you’d be better off with a static billboard.
What is a Static Billboard?
The biggest, non-custom sized, permanent billboard available is the static billboard. These are the displays you see every day on your morning commute to work. They are viewed by thousands of consumers each day by being clearly visible on roads, highways, tollways and other major travel routes. Static billboards vary in size and they’re a great way to connect your products or services with the consumers and the public.
What is a Digital Billboard?
A digital billboard is able to show various brand messages and ad campaigns at computer generated, set, timed intervals. This is great if you need to display more than one message for your business. The computer that controls the digital billboard allows for quick updates and/or message and copy changes.
What Kind of Companies should utilize Billboard Advertising?
The best businesses for billboard advertising include local businesses that are located near the billboard, such as restaurants or retail stores. This is a great way to capture the attention of potential customers who have been driving all day, hungry for a good meal. If you have a shop, it’s a great way to let potential customers know you’re located nearby, ready to provide them with the products they need.
Both static and digital billboards are also a great advertising channel for businesses and organizations that simply want to increase their brand awareness. This could be a law firm, real estate agent, marketing agency, homebuilder, or any other business that wants to have their brand and message displayed to thousands of potential customers on a daily basis. A great looking design or creative marketing message that resonates with the public is definitely important for brand awareness.
Now the Question is: How Much Does a Billboard Cost?
The costs associated with a billboard depend of a few different variables, including whether digital or static, the size of the billboard, the demographics of the location, and the size of the market. In less populated areas with less traffic, such as a rural farmland location in the middle of the country, costs typically would be about $200-$300 per month for a static billboard. From there, it will increase to about $1,200-$5,000 for midsized cities, and up to $10,000 plus for big cities. Digital billboards are more expensive, from $1,000 a month to well over $15,000 per month, depending on the location.
Geopath is a non-profit organization comprised of advertisers, agencies, and media companies. This organization comes up with something called the OOH (Out Of Home) rating to help determine billboard costs. This is based on the following three considerations:
- Circulation: This is the amount of traffic that passes the billboard. The data used comes from local transportation agencies
- Demographics: The age, gender, and income level of the consumers who pass the billboard
- Impressions: This is the average amount of people who will see the ad. This is based on factors such as the size of the billboard and the speed in which the cars are passing it.
Additional Costs to Consider
In addition to the costs already discussed, you must also take into consideration what it will cost to design the ad as well as the cost of building it. Most static billboards use vinyl as the material, and this usually will cost anywhere from $300-$500. If you have a designer on staff, it will save you about the $250-$1,000 or more that a firm will charge to design the ad.
Billboards, whether you choose a static one or a digital version, are a terrific way to build brand awareness and attract customers. The costs are determined by a variety of considerations that you should research when figuring out what it will cost your company.