Digital billboard advertising is the fastest growing advertising sectors, while radio media ad, print, TV revenues are declining. Digital billboard advertising reduces the costs and increases the timeliness of advertising. Digital billboards are becoming the preferred choice of top tier advertisers because they are eye-catching from far away and with just a few clicks of a mouse you can place a message on hundreds of locations giving you the power to launch a widespread last minute campaign with little advance notice.
With formats like video and HTML, ads can be much more creative than a simple static poster. Movement, animation and even sound can catch a viewer’s attention, and many screens include touch or mobile interaction for a more immersive campaign.
Unlike the four-week cycle of traditional billboards, a campaign on a digital screen can run for any amount of time. Brands also have the flexibility to target the ad to specific times of the day. So while the CPM for digital billboards is higher, it is often possible to spend less by carefully targeting the campaign to the specific times the target audience will be in the area.
Cost of Digital Billboard Advertising
The cost of a digital billboard ad can range between $1,200 – $7,000 a week. As of 2009, Sign Industry magazine estimates that a typical 14-foot by 48-foot LED display costs $290,000 for advertising agencies to acquire. Higher advertising rates reflect both the higher initial investment for the agency and the demand for the technology. Businesses can expect to pay an average of $1,200 to $10,000 per month for a digital advertisement. They may have to pay an additional design fee. However, many advertisers have saved money by creating their own digital ads using computer design software.
The exact amount varies from digital billboard to digital billboard and is based on several factors, the most common of which being:
- Location – How many people will see the digital billboard everyday
- Demand – The more advertisers who want a digital billboard, the higher the cost
- Time of year – June/July/August rates are usually lower than November/December
- Campaign Duration – Longer term commitments can result in discounted pricing
Digital Billboard Locations
Location is a big factor in the price of advertising space on a digital billboard. Previously, there was no known reliable public database of every digital billboard location and because many digital billboards are individually owned and operated, it would take a very long time to locate all of them.
Digital Billboards, Building Signs & Kiosks
Outdoor digital advertisements can be seen in so many places, including:
- Bus Shelters
- Transit stations
- Digital billboards
- + More
The advantage in all of these types of outdoor advertising is that they are seen by a lot of people and for longer periods of time. As digital signage becomes interactive we can expect it to become even more widespread and thus, perhaps, more affordable. That said, moderately successful mid-size businesses can usually afford at least a starter digital outdoor ad campaign as we speak.
SO, HOW MUCH DOES A BILLBOARD ACTUALLY COST?
There is no concrete answer to that as so many factors influence the cost. Yet if you are looking to lease a billboard for your campaign, be sure to carefully consider the following for your campaign goals:
- How much of this audience do you wish to reach?
- What is your budget?
- When does your campaign need to run?
- What level of creativity do you need to get your message heard?
- What is the CPM for your other marketing channels?
- Who is your target audience?
With that being said billboard costs are not always bound and determined they can often be negotiated with the owner.