You have probably seen billboards all around your city and while traveling, advertising various items and companies. They are a great way to gain attention and spread your message to a large group of people. From the side of a building to a common plaza in your neighborhood, billboards are very flexible. If you think this is a good form of outdoor advertising for your company, you will want to consider the costs associated with having a billboard. This will let you have a cost-benefit analysis and see if it is the method of advertising for your business. So, how much does a billboard cost?
Design
Before you get your ad plastered on the big screen you need to have a cohesive design with a message. Depending on your advertisement and your goals, you may want to consider hiring a professional digital designer or marketing agency to create your ad for the billboard. These agencies know the necessary requirements for these ads regarding resolution, and have expertise in reaching your audience. Overall, this is a cost that business owners tend to overlook, but it is a worthy investment if you want to truly engage your audience and increase business.
Location
Where your billboard is located is just as important as how it looks. Location determines how many people will see your outdoor advertisement and how much you will benefit. That being said, where your billboard is located is a big determining factor into how much it will cost you. If your billboard is in a large city on a main road or highway the billboard will be much more expensive than if it was in a rural town on a side street. When choosing a location, you will of course want to budget accordingly, but you also want to make sure your advertisement is reaching your desired demographic. For example, if your company is geared towards those 65 and older, you may want to place your billboard near a retirement community. Choosing a location wisely is imperative for success and managing your cost.
Digital Vs Physical
Choosing the format of your billboard will be another determining factor of the cost of your billboard. Digital billboards are typically cheaper because you do not have to print the advertisement and you do not have to pay someone to install it, which is risky and time consuming. Going Digital has added benefits such as the ability to only have it shown at certain times and change up the advertisement more frequently. A physical printed billboard is typically more expensive because of the installation and printing costs. Weigh out the pros and cons of each to see which one better fits your needs.
Advertisement Time
How long your advertisement is posted plays in to how much your billboard will cost you. Is it up for an hour a day, a week, a month, a year? The length of time will affect your bottom line. This is especially true for a digital billboard. These digital billboards can have varying amounts of screen time for your advertisement. Naturally, the more time you spend advertising your business or event the more expensive it will be. Consider if your advertisement is seasonal, addressing a certain population, or has another special need. Only advertising for the amount of time necessary can keep your costs down.
Overall, a billboard can vary greatly in cost depending on various factors. Figure out your needs and what will work besasssssssssssssssssssssssssssssssssssssssssssssssssssssssssssssssssss t for your business. When in doubt you s ould talk with your out of home advertising agency and they can give you a quote and lead you in the right direction.