Are Billboards Effective?

When businesses are looking to advertise, it’s very important for them to find avenues for advertising as effectively as possible. This is particularly true for businesses that are operating on tight marketing budgets, which will need to market themselves efficiently. And what does efficient advertising look like? It means spending as little money as possible to reach a multitude of consumers, and getting those consumers to then learn more about your business and purchase your business’ goods or services. There are, however, many modes of advertising, all of which look enticing and promising but are not equally effective, so it can be exceptionally difficult to decide where to allocate your advertising resources. That’s why we’re here to help!

Consumer Audience and Trust

Two of the most important factors when it comes to advertising are reaching out to a wide audience and gaining consumer trust through your advertisements. This is especially true because, according to The New York Times, people dislike ads. The majority of online consumers use installed ad-blockers. Additionally, most people prefer paid, ad-free entertainment instead of free streaming services with ads. Traditional advertising, according to The Harvard Business Review, is expected to increase after a staunch decline in the 2010s. A big reason why is that 57% of people dislike ads that play before a video, and 43% of people don’t watch these ads. Also, since online ads, particularly on social media, are often targeted, people who have already purchased a business’ goods or services will likely see these ads. Customers can potentially see these ads several times a month and become fatigued by what they see as a barrage.

More traditional modes of advertising have the highest consumer trust. Print advertising has the highest level of trust among consumers at 82%, above television advertising (80%) and direct mail advertising (76%). However, this doesn’t mean that all forms of print advertising are equally effective. For instance, newspaper and magazine ads receive a high degree of consumer trust, but they are unlikely to reach a wide audience. Less than 25% of adults read newspapers and magazines. This low percentage reflects a downward trend, as only 10.8% of Gen Z adults read newspapers and magazines.

Billboards

Many people consider billboards to be an old-fashioned medium for advertising. And they certainly are old, with the first known leasing of a billboard space occurring in 1867. However, billboards are not only still a viable and effective medium for advertising, but they might even be the most effective. It isn’t for no reason that billboards remain widely used to this day!

One of the major boons of billboard advertising is how cost-efficient it is. According to the OAAA, billboards cost $3 to $6 per impression, the lowest of any advertising format. This means that it costs less for consumers to see and interact with billboards than other advertising formats. Billboards are large and highly visible, have a degree of permanence, and are often placed in locations where you can find many consumers. It is for these reasons that billboards are able to reach such a large audience. Furthermore, billboard advertising resulted in a 497% ROI (return on investment) in 2017. That means for every dollar spent, an average of $5.97 was sold – higher than digital, print, and radio. Not only are billboards more cost-efficient when it comes to receiving impressions, but they are also better than other forms of advertising at promoting consumer interaction and generating money.

Billboards are an effective advertising medium for attracting future customers as efficiently as possible. To begin making the advertisement of your dreams, check out BillboardsIn.com now to get started.

Vintage Chicago Roadside Billboard, 1956.