Advertising has a strange relationship with moneymaking. The more you advertise the more you earn. And the more finances you have you can use different mediums for advertising. Advertising is a helpful tool in letting consumers know about available products and services. Awareness is also a secondary motive. However, the prime motive of advertising remains the same that is to sell. The last decade has been very revolutionary in terms of digital advertising. The aim to perform better and better has led to the discovery of immensely fine products. Electronic billboards, digital displays, DOOH, digital billboards, and LED video walls have really changed our thinking perspectives. Today the human mind is more flexible than ever before. Change has become easier to adapt unlike before.
Digital marketing or digital advertising means that we are promoting the sale of products and services by involving digital technologies. Digital marketing adopts different paths to transmit the message. For instance mobile phones, social media platforms, indoor and digital out of home advertising. It may or may not require the internet.
Well, surely yes! Digital advertising is a broad term encompassing marketing via involving digital technologies. Digital billboards are however the part of digital advertising. The above-mentioned mediums are other effective modes of digital advertising.
A digital billboard is a flat display panel that shows digital content. Mind that the content can be in the form of animation, graphics, pictures, and video. The display content can be changed after set intervals. You can relate a digital billboard screen with a computer screen with respect to similarities. The display screen is usually slow-moving offer crisp picture quality. Also, you can run multiple messages simultaneously on the very same screen.
Honestly, we show interest in anything as long as we know that we can dish out some benefits from it. Digital billboard advertising is no exception to this rule. The benefits are immense and we will discuss them in a nutshell to reveal the significance of digital billboard advertising.
Digital billboards are undoubtedly head turners. Also, they hold sufficient convincing power. They act as effective persuasion channel. It is very likely that people remember and then recommends the product that is marketed digitally.
Digital billboards are the major sale drivers for any business. They reportedly increase the return of investment for the majority of brands.
Electronic display boards have charismatic pushing power. They motivate the viewer for a call to action.
If you want to reach masses within narrow window time, nothing can beat the power of out of digital billboard advertising. It holds all attributes of grapevine effect i.e. within no time brand awareness transmit among peers.
Digital billboards offer great flexibility for creative installation. Advertisers can style them in different patterns and layouts as per the requirement. Tokyo is known to be the hub of digital billboard displays. The entire architecture of cities appears to be more digital than natural.
Electronic billboards impart glitz and glam to roads, highways, and markets.
In today’s modern world people are more social. They spend most of the times outdoors. Watching the same visuals on digital billboards on a frequent basis unintentionally create brand loyalty in their minds.
The primary advantages of digital billboards advertising over traditional advertising are
It is a lot easier to tweak the content relating to product & services on electronic billboards.
Digital billboards are flexible and adaptable. Businesses can now inform clients timely about evolving technology and innovation.
They are more interactive
Digital billboards are really versatile. You can experiment with the content. Such billboards are compatible with text & graphics, event schedules, audio filled flash & video, interactive directories, surveys, polls & contests, news, weather & stock updates.
There is absolutely no rule of thumb in defining the exact cost to implement digital billboard placement. For instance, let’s take the size as a basic parameter. If you are picking the size 2'x8’ the cost of the digital billboard will be around $4400. However, if you pick the size 14'x48’, the cost can go up to $154000. The make and model of LED billboards is another important factor. Different billboards require different physical parameters. For instance pixel density, resolution, screen thickness, etc. first, be precise about the purpose of the billboard. Of course, screens demanding more pixels will cost you more than the one requiring fewer pixels. Not to forget that viewership is another factor to decide digital billboard placement cost. Do you know that digital billboard advertising in Times Square is so expensive that it costs somewhere between $1.1m -$4 m per year.
Advertising on digital billboard definitely demands finances. Yet the returns are so impressive that they can offset the incurred expenditures. Normally digital billboard advertisement cost varies between $2000- $7000 per week. LED billboards are charged on per minute basis. The advertisement span is for 8sec only. Some advertisements can charge as much as a hefty amount of $50000 for 1.75 days or 2520 minutes. The minimum amount they can charge is $1200 for 0.45 days or 648 minutes.
The cost of Digital billboard advertising is usually expressed in terms of cost per mile (CPM). It can also be stated in cost per thousand impressions. CPM varies from company to company and according to the billboard specification. As per the stated figures of the Outdoor Advertising Association of America, the median or average cost per mile for bulletins is somewhere between $3-$18. Bulletins are actually the large format billboards. While for posters the average CPM ranges between $1- $13. Posters are the smaller format billboards. So if we assume that we have 100,000 impressions in a month then a bulletin will approximately cost $300 to $1800. However, a poster will be costing $100 to $ 1300 for that month.
Factors affecting the cost of digital billboard advertising
The cost varies greatly from region to region. Size, placement area, buying cost of LED billboard, transportation and installation cost are the main cost determinants. Other contributing factors are demographics, impressions, and circulation. The combined effect of all these factors determine the overall billboards OOH rating. Also, the cost of digital billboard advertising is directly proportional to the number of viewers. Places where human traffic is maximum, the advertising cost goes up by manifold. Let’s discuss the three important factors affecting digital billboard placement cost
Circulation: it means how much human traffic passes the billboard. Transportation authorities can give you a reliable estimate. It is really irrelevant whether the passerby watched your ad or not.
Impressions: impressions mean the actual count of viewers i.e. how many people actually noticed your ad. The visibility, size of the digital billboard and speed of the passerby are all influencing factors that affect impressions.
Demographics: The splitting of the general public passing by according to their gender, age, and income level. It is really a smart move to target high-income level groups because of their better affordability. Most of the revenue comes from this segment.
Supply and demand rule: Like all other commodities digital billboard placement cost also depend upon the supply and demand rule. The more appealing it is to marketers and advertisers, the higher the cost.
Digital billboards work best for brands advertising in certain locations to magnify brand awareness. All those businesses that place their billboards on nearby highways and mass transit points experience improved ROI. Additionally, stable businesses that aim at gaining long term customer loyalty may also enjoy digital billboard advertising. Nearby digital advertising is a great revenue booster for hospitality industries like restaurants. Keep in mind that digital billboards cannot change the fortune of your business overnight. They need some time.
Have I considered the famous 8-second rule: if you are naïve to let us explain you this rule? Are you smart enough to pitch your message in 8 seconds? If YES! Then congrats digital billboards are for you. However, failing to do that then better stay away from LED billboard advertising. Also, note that the message that you are displaying should be crystal clear. Unfortunately, if your message is vague or hard to interpret then again digital billboards are a big NO! Please remember that customer literally damn care for the things that put him in any form of difficulty or overthinking. The approach “Less is More” works here.
Am I advertising a relevant product to masses? Always assess the relevancy of your product to the passersby and estimate the impressions. For instance, if the product is only 12 % relevant, do you think you will achieve a good ROI. No doubt you can waste your money in doing irrelevant digital billboard advertising. Let’s take a more practical example. Only 7% of Americans are pure vegans. So, if the vegan food distributor hires mega billboards for the sake of marketing and advertising, do you think it will work?
Billboard location holds prime importance when launching an advertisement campaign. When placing the electronic billboard on the hot spot there are certain things that affect the effectiveness of billboards. These are traveler destination, traffic speed, and proximity of the sign to the road. After you have picked the right billboard to analyze several locations and spots before finalizing the one. Always go for the place that will grab maximum passersby. We will be discussing the above factors one by one.
Traveler destination: Target the audience first. Are you advertising the content for the local public who passes by the billboard on a regular basis? Or your advertising is for other people who just pass by your digital billboards? Are there any chances that people will prefer visiting your business place while returning from work?
Traffic speed: there is a bright chance that when passing slowly through congested places more people will watch your digital billboard advertising. However, on a smooth train journey, travelers will hardly notice the surrounding billboards.
The proximity of the digital billboard: visibility definitely plays an important role in delivering effective advertising campaign. The distance between the road and the digital sign determine the visibility. Remember LED billboard size and resolution also contribute to overall visibility.
Often ignored but digital display manufacturer also plays its part in determining the digital billboard placement. The premium quality component, state of the art technology and finest manufacturing skills all are necessary for executing a flawless digital billboard. But all this does not come with zero cost. Transportation and safe shipment are other critical factors that add up to the total cost. Today LED display industry is maturing at an exponential speed. So we have better access to better-LED solutions. The LED display market is flooded with both good and bad quality products. Cheap standard companies normally window dress their products and present them in the most influencing way at a much-discounted price. Definitely, such strategies sway consumer decision. However, poor quality and substandard LED displays may bore you tears in the long run.
We truly know that our valuable readers are smart and witty. To guide them a bit more we will advise to always buy LED billboards from reliable manufacturers. Digital billboards are a hefty investment. So, how can you trust new entrants? Companies like DAKCO are ruling the LED display market for more than a decade. The company is dedicated to providing the best products and after-sales services. So whether you require bulletin, poster, LED video wall or any form of digital sign you are safe as long as you are dealing with DAKCO. The company has an amazing clientele rate and it is still growing.