When the word billboard comes to our mind, we often think about the high cost related to it. Most of the time we, as a viewer or consumer, think that there will be an exorbitant amount of money assigned with advertising on billboards. This a frequent question asked or searched online by many people. In this article, we will explain step by step all the important factors related to costs for a billboard advertisement, how sizing affects it, and what the pricing is like on Ontario OOH advertising machines like the TTC.
Billboard Types and Their Prices
This information refers to billboards and billboard pricing in Ontario.
Most effective and eye-catching billboards are mainly divided into four types.
- Bulletins (Large Billboards)
- Posters (Medium Billboards)
- Junior Posters (Small Billboards)
- Digital Billboards
Bulletins (48’W X 14’H)
These are great when you want to create major awareness and a name for your brand. The large size will entice people to take a look, as it really can’t be missed. Usually located in high traffic areas, bulletins are meant for maximum exposure and have plenty of eyes on them at all times.
Costs related to it are $1,500-$6,000/month, which is fair as it will get your brand recognized and exposed. The smaller cost has to do with local bulletins, or bulletins positioned in lower reach locations. The highest cost relates to large bulletins for big name brands, which are usually placed in high-traffic locations.
Posters (22’8″W X 10’5″H)
This type is quite useful for launching new products, promotions, and events. Being the most popular advertising form to garner more, and new, customers, and due to its reasonable price, it is perfect for new brands that still have to establish themselves in the market. These are available in markets where you can target more customers, like sidewalks, shopping malls, recreational centers, and public transit.
Costs related to it are $700-$5,000/month. This amount is great for new brands, as it is quite affordable and they already have a lot of expenses to incur from different departments. The smaller cost relates to posters that are representative of smaller companies, and the larger cost is the price tag for larger corporations setting up poster displays to showcase their newest advertising.
Junior Posters (11’W X 5’H)
This is ideal for small businesses who want to get their service out there, into the universe, right now. This is also perfect for a short term advertising strategy. Its purpose is to target specific communities and neighborhoods, not the entire population. These billboards will usually arise in office spaces, on the side of buildings, and in areas where specific demographics of people live in.
Costs related to it are $300-$5,000/month. It is the cheapest way to advertise but its exposure is limited, and it’s not very diversified. It can help to generate awareness for a brand that has a short term goal.
Digital Billboards (48’W X 14’H)
They are the same size as bulletins, but they use a digital framework with multiple images and messages that are displayed all day, and night, to attract many people. Every 8 seconds, the ads will rotate and morph into a new product or service message that shifts for audiences who watch. In this rotation, audiences will be more interested in a collection of different advertisements because it keeps people guessing what will play next. One advertisement might speak to someone and get them to the purchase stage, and this can all happen in one place with digital billboards.
Costs related to it are $2,500-$8,000/month. It is the most expensive way to billboard advertise but it generates more traffic for the brand by being more creative in a modern fashion. By grabbing hold of technology, digital billboards have the impact of putting on a bit more of a show than other billboards out there.
The Effective Use of Billboards on the TTC
One of the most prominent platforms to advertise on in Toronto is in the famous rocket itself, the TTC.
Let me share a short, valid story of what happened to me last week which enticed and prompted me to purchase the features from a service advertised on the TTC.
The journey began when I was waiting for the streetcar. Upon arriving, there was a clear, and mouth-watering, image of the company called Foodora that featured a dish I was into. It was on the streetcar exterior, so it was plain to see from where I was waiting and, because I was already hungry, it created temptation within me. Then, when inside the streetcar, there were surrounding decals of Foodora that increased my desire to eat. The transit billboard advertising takeover led me to order from Foodora when I got home after my long day. In this case, the buying cycle was so effective and quick to process due to the advertisements feature on public transit.
From my story to yours, potentially, it is easy to spot the effectiveness of a solid transit advertisement.
Now, I will show how much the cost is to advertise on TTC.
Outside of transit, these eye-level posters are very attractive and the cost related to advertising outside depends on a number of factors. This chart provided by blogTO highlights some of the costs contributing towards advertising with King Posters.
When you notice an attractive vinyl ad inside transit, it may urge you to know more about that brand which can turn you into an important lead. These are “high frequency” ads that are viewed by as many people as the TTC can cram inside. They are placed above the windows on buses, streetcars, and subways. The cost of advertising on the interior is shown below.
Murals and Door Decals
These are smaller than exterior king posters and don’t require too much of a commitment because they can be easily replaced and changed. The vinyl decals on the doors of subways get the most impact from passengers first entering the car.
Full Coverage Super Buses and Super Trains
These ads are the ultimate places to advertise on TTC as they will be seen by most people. They cover transit vehicles on either side, in the back and on the roof, plus all the interior cards on buses. Seventy posters are the traditional way to advertise on TTC, as they are featured on the backs of buses and are meant for advertising local businesses like real estate agents and franchise restaurants.
Judging by the estimated costs of billboards in Ontario, as well as looking at the way TTC prices their advertisement spots, it is clear to see what the price of billboards ad up to.
Location is by far the most important deciding factor that leads towards the cost of a billboard ad. The popularity of the location is mainly due to high traffic, commuters, or people shopping around an entertainment district. A good spot at the right location will undoubtedly increase the price for a billboard advertisement. A billboard advertised in a rural area can cost a little as $200, whereas the same billboard in an urban location will cost tens of thousands of dollars. For example, billboard advertising at Yonge-Dundas square will run you around $200,000 each year. The more central the location, the more the billboard will cost, and the more benefits you will reap from it.
For more information about the costs of billboard advertisements elsewhere and trend patterns for 2019, check out this post by Fit Small Business.