How Much Does A Billboard Advertisement Cost?
Advertising today has pivoted into many spectrums like affiliates, social media ads and other strange modern technology influenced mediums. But when we first think about the fundamentals of advertising our minds directly jump to newspaper ads and billboard advertisements. This is because unlike any other method today, billboards and newspaper ads are the oldest methods of advertisements.
These two methods are still going strong even in the age of screens and the internet, and all the other advertising methods we notice are simply derivatives of these two. Though there are plenty of ways you can advertise your product or service, nothing can beat the old but gold billboard method of advertisement.
But it is not always easy to get a hold of a billboard and simply advertise on it as we like. For starters, getting a billboard advertisement can be a tough job if you have not done the groundwork behind it. A billboard can cost you an average of $15000-$20000 in largely populated cities, whereas it could cost you up to $250 per month in small towns. The cost of a billboard depends on various factors like format, circulation, demographic, and impressions.
To determine how much billboards cost, let’s first consider what factors affect the overall cost of the advertisement:
Factors Affecting Billboard Advertising Cost
There are many factors that affect the billboard cost, but generally, billboard costs are based on the cost per mile or the cost per thousand impressions. Apart from these two, the cost can be affected by circulation, size and demographic. These aspects decide the billboard’s out-of-home (OOH) rating and hence the cost.
Since the OOH of any billboard will eventually decide its cost, these factors affect the OOH of any billboard:
- Circulation: Circulation is the total magnitude of traffic that passes by a billboard. Do not confuse this for the billboard being circulated in an area. The total circulation (traffic passing by) is given by the transportation department of the area. Here, circulation does not consider whether the passer-by sees the ad or not.
- Demographics: The target demographic of a billboard is decided based on age, gender, income level of the types of people who pass the billboard.
- Impressions: Impressions are nothing but the total number of people who will pass and see the advertisement. This is also related to the size of the advertisement, visibility of the billboard, the speed of people passing by, and other factors.
The place where the billboard is located also plays a significant role in the cost of any billboard ad. For instance, if you consider a billboard that is placed on the same side of the traffic passing by, it is likely to get more attention compared to the same billboard on the other side of the road in the same direction. This makes the traffic-centric billboard more expensive.
So, if you consider taking a billboard on the interstate highway it is always going to cost you more to rent one on that location there rather than in a suburb of a small town. A suburban billboard might cost you about $250-$750 per year whereas the same sized billboard can cost you around $1 million per year on a busy road of a major city.
Another major factor that adds on to the overall price of the billboard is its visibility. Generally, the closer the billboard is to the road, the more it will end up costing.
Types of Billboards
With modern technology catching up with traditional advertising, billboards are now categorized into two main types: Physical billboards and Digital billboards. Let us take a deeper dive into how much do these billboards cost.
Physical billboards are the more preferred traditional billboards that have been used for a long time now. These billboards are more advantageous than digital billboards in many ways; the infrastructure of physical billboards have already been established for ages and hence it is easy to simply attach and reattach advertisements on them. These range from $250 in rural areas to more than a million dollars in popular cities.
Physical billboards advantages:
- Physical billboards are economical and much cheaper than any digital billboard. Many regions have their own prices, but everywhere the overall price of a physical billboard will be far less than that of the digital one. This encourages small businesses to also advertise their service and products within budget.
- Physical billboards already have an established inventory. Because they have been around for a long time, all people need to do is, remove and add new banners of advertisements on the billboards.
- These traditional billboards are not victims of software glitches and power outage when compared to the digital billboards.
A digital billboard is the technological evolution of advertising. These billboards display advertisement pictures on the screens while changing automatically in a set of time gaps. Digital billboards are more extravagant, targeted, and flexible when compared to the traditional boards. Digital billboards can cost from $1000 to millions of dollars depending on the location.
Digital billboard advantages:
- Digital billboards have more dynamic content and flashy advertising features. You can have moving images and texts that will help capture the attention of people passing by.
- Digital billboards are more targeted. This means that based on the time of the day, the billboard will display ads. These ads are circumstantial and can really drive a lot of traffic during a time span. For instance, the billboard might show an ad of a restaurant during breakfast, lunch and dinner.
- These billboards are more flexible when compared to traditional ones. They do not charge for changing the imagery of the advertisement.
Billboards can cost a ton if you don't really investigate the above-mentioned factors properly. With new advertising methods coming daily, advertising is truly in its golden age. But if you are really looking for billboards at reasonable costs, then Blip billboards do the trick.
Blip Billboards offers many billboards in many locations throughout the US. Giving advertising opportunities to businesses of all sizes, Blip has a catalogue of billboards spread across the country. Blip billboards deliver to two major concerns of any businesses. The tradeshows and consumer exhibitions, advertising in the physical world has not been easier and economical.