Billboard Advertising Statistics, Cost & Effectiveness

Billboard Advertising Statistics

Billboard Statistic

 

  • Over 50% of people say they’ve been highly engaged by a billboard they’re seen in the last month. (Source)
  • 71% of people consciously look at billboards when driving. (Source)
  • Americans spend almost 300 hours in their cars each year. (Source)
  • There are currently 342,306 billboards in the US and almost 8,000 of these are digital billboards. (Source)

Whether you’re commuting to work or taking a trip out of town, you’ll soon find yourself glancing at billboards along the way. If you’ve ever wondered how effective billboard advertising is, you’re not alone. For small- to medium-sized businesses working on a limited budget, the time people are in their cars is crucial. If done right, billboard advertising can be a powerful tool in attracting more customers.

Out Of Home Advertising

Today’s out of home (OOH) advertising offers more creative avenues when it comes to businesses getting out their message. OOH is highly adaptable and billboard advertising is just one aspect of its unlimited marketing potential. Billboard advertising utilizes large-scale print to market a company, brand, product, or campaign. Since billboards are placed in high traffic areas, it is an effective method of building brand awareness.

Who Would Benefit From Using Billboards

Businesses looking to generate more brand awareness or advertising specific store locations would work best using billboards. Billboards are usually located near high traffic areas such as highways and this location is perfect for local businesses to get their name out there. 

Be sure to consider if billboard advertising is right for your business. Ask yourself this: 

  • Does your business meet the eight-second rule? The eight-second rule means people passing by can understand your message in eight seconds. If not, then billboard advertising might not be the best option. 
  • Is your product relevant? A billboard will be displaying your product to a mass audience so if the product isn’t as relevant then you might not be able to make the impression you desire.

Billboard Statistics

Now that we’ve got some background on OOH advertising, let’s take a look at a few billboard advertising statistics to measure the effectiveness. According to the Arbitron National In-Car Study, 71% of people consciously look at billboards when driving. Despite the growing forms of transportation, Americans spend almost 300 hours each year in their cars. As for the return on investment, OOH advertising is more effective at driving online activity than TV ads according to Dashtwo.  These statistics just scratch the surface of how effective billboard advertising can be when promoting brands. In addition to increased exposure, billboard advertising can strengthen in inbound marketing such as blogging, SEO, or social media. 

For those looking for a more nontraditional route to outdoor advertising, then continue reading to learn about mobile billboard advertising!

Mobile billboard advertising statistics

Mobile billboards produce high value for companies big or small. Moving advertisements tend to be more memorable and a higher-level engagement with the advertisement itself. Due to its move-ability, mobile billboards narrow-cast down to a hyper-local level. According to statistics found on this site, mobile billboard ads found on trucks were noticed by 98% of people in the cars. Not to mention that The Outdoor Advertising Association calculated that each truck can generate 30,000 to 70,000 impressions per day. Location and routes are key when tracking where the target audience will resonate most with the ad. 

Demographics and location insights will aid in identifying the specific type of audience. In the end, not only will you reach high-frequency rates, but you will also create lasting impressions on your audience. A few other benefits of mobile billboard advertising would be: 

  • Increased visibility at eye-level
  • Flexible for short- or long-term campaigns
  • Cost-effective and more control over the campaign 

While mobile billboards are nontraditional, that doesn’t make them any less effective. In fact, they are an exciting and engaging way to generate more word-of-mouth marketing. This is a media format that isn’t as common as stationary billboards, but it helps break through the noise of other advertisements.

How Much Does Billboard Advertising Cost?

Billboard advertising costs vary depending on format, demographics, and impressions. If you are considering the nontraditional route and are looking towards digital billboards, then you’ll find those costs to be significantly higher. Regardless of which route you choose, billboard advertising is an investment you need to be willing to make.

A Quick Look At Average Billboard Costs

Billboard prices vary depending on location and some cities within the United States can be costly. According to the statistics, Oklahoma City averaged $1,800 while Seattle Washington averaged around $4,000. 

Billboard LocationsAverage Billboard Prices
Oklahoma City, Oklahoma$1,800/month
Dallas, Texas$2,500/month
Denver, Colorado$2,000/month
Miami, Florida $3,500/month
Seattle, Washington$4,000/month
Portland, Oregon $2,000/month

As you begin to figure out the rental costs, you’ll then need to research design, installation, and additional fees that come with billboard advertising. 

  • Design costs: If you choose to outsource your billboard design, the costs can range from $150 to $1000, depending on if you choose a freelancer or an agency. 
  • Materials costs: Vinyl banner is a great material to use for physical billboards, and costs around $1 to $1.50 per square foot.

Installation cost: This information could be included in the rental rate, but depends on the provider.

How To Choose A Location

Location is everything when it comes to billboard advertising. Traffic speed, travel destination, and proximity of billboard to the road all influence the effectiveness of the billboard itself. Be sure to evaluate several locations and visit them before committing to billboard advertisement. Once that is done, find where your customer base is coming from and choose the location that will generate the most traffic to your brand, company, campaign. 

If you already have a location, take a look at the advertising company next time you visit or pass the sign. The company’s logo will usually be listed below the image on the billboard.

Competition and Production

As with any industry, there will always be competition. If you look into areas with lots of other nearby billboards, you might be able to find some good discounts. However, this means that you might have difficulty standing out amongst the others in that area. Competition drives price and billboard advertising not only costs money to rent, it also requires production costs.

Billboard Design Costs

Billboard size is one of the determinants of price when it comes to design costs. Visually, a bigger billboard is easier to see than smaller ones especially when placed near a highway. The standard billboard size is 14” by 48” and can give you unparalleled visibility, but costs can increase as you get into the designing aspect of your billboard-like lighting. If you want your billboard to be visible at night, then lighting is the way to go. Some examples of billboards that utilize lighting would be casinos, restaurants, and even some retail stores. Lighting also helps in gaining more impressions since they are easier to see at night. 

For someone looking for more insights on the concept of a billboard, it is important to note that the largest one available is termed as the ‘bulletin’. However, the size of the advertising region also depends on the location and business preferences. Typically, a standard billboard measures around 14 feet in height and 48 feet in width, in usual cases.

The Impact of External Factors On Billboard Advertising

Billboard advertising costs are affected by circulation, demographics, and impressions. 

  • Circulation: Circulation estimates the number of people that are exposed to OOH advertising displays based on the traffic volume in a market.
  • Demographics: Demographics are broken down by age, gender, and income level of those who pass a billboard. It is important to note that you might end up paying more to advertise to those with higher income levels. 

Impressions: Unless specified in-market, impressions include all people who notice the ad. Other factors like the size of the billboard, visibility, the speed at which people are passing play a part in this area as well.

Billboard Advertising: The Good & Bad

As mentioned before, billboards are an investment. This investment can be expensive or inflexible, however, the high exposure and targeted message can be beneficial to your return on investment. After understanding how much a billboard costs, we can compare the pros and cons of billboard advertising. 

Pros

  • Chance of larger exposure
  • Cost-effective in terms of impressions
  • Location targeting
  • Simple messages

Cons

  • Not as flexible/ immovable
  • The time period for exposure is short-lived
  • Measuring effectiveness can be more difficult

Traditional vs Digital Billboard Advertising

Both formats have clear advantages when it comes to billboard advertising. Whether you are wanting a stationary or dynamic billboard, it all comes down to what would work best for your company or campaign.

Traditional

  • Less expensive
  • More inventory 
  • Avoid technical issues

Traditional billboards allow for more exclusivity, meaning your display will be hard to go unnoticed. Unlike digital billboards, static ones make up the majority of OOH advertising and outdoor space which makes them more readily available. There’s always room for creativity and with traditional billboards, you won’t be limited to specific dimensions. 

Digital

  • Utilize dynamic ads which makes them more effective
  • Advanced targeting options 
  • More flexible with updates and optimization

Digital billboards work best for those looking to increase their engagement. Since these are more dynamic in nature, the motion draws more attention to those passing by. Digital designs are more flexible than printed ones which allow for quick turnaround if you decide to change the design. The best feature for digital billboards is being able to advertise at peak times. Rush hour or seasonal campaigns are the perfect times to make sure your ad is seen at the right time.

A Closer Look

At the end of the day, billboard advertising can help your business reach a larger number of people if done correctly. For entrepreneurs or local businesses whose target audience is broad, yet within a similar geographic area, billboards help in narrowing down that audience. 

Your billboard advertisement should appeal to your audience type and reflect your marketing goal.

Billboard Advertising Effectiveness

Even though we’ve covered the pros and cons of billboard advertising, is it a truly effective strategy for brands? Having your billboard being noticed is only half the battle. You also need to be able to ensure customers take some sort of action after seeing your ad. The Arbitron National In-Car Study, found that 71% of Americans consciously look at billboard messages while driving. Those same people were able to learn about a new event or restaurant they later attended. It is these instances that show just how impactful billboards can be. 

Effective Billboards

What exactly is an effective billboard? Creating a strategic and engaging ad is the key to making sure your ad is memorable even after being viewed once. Billboard advertisements that contain too much information can be overwhelming as they drive by. Avoid incorporating provocative content as this could lead to accidents. When creating your ad, stick to two or three colors and no more than six words. This will draw commuters attention and communicate clearly with the potential audience base.

Billboard Advertising Done Right

Billboards are great marketing tools when used correctly. Strategic planning involves figuring out which area best suits the service you are providing, more specifically, where that service is needed. Unlike ads you see on your phone or computer, billboards are mostly unavoidable. You must consider which aspects of the billboard advertisement are significant enough to draw more attention. Compared to other forms of advertising, billboards can run a lot cheaper in the long run and the results can outweigh the initial investment if done right.

Digital Marketing Services in Oklahoma City

Billboard advertising is seen by people passing by in the physical world while digital marketing does the same in the online world. Digital marketing can be tailored to match your business’s ideal customer. Billboard advertising continues to be a prominent marketing method, especially among small or local businesses looking to gain more awareness.  

Oklahoma City is a growing industry for digital marketing agencies and there will always be opportunities to grow your business. It can be overwhelming at first when trying to figure out the best ways to market. If you’re interested in finding out how we could help, check out our digital marketing services here.

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