Measuring ROI for Billboards: Why Impressions Are a Misleading Metric

Measuring ROI for Billboards: The Problem with “Reach”

Measuring ROI for billboards often starts and ends with one metric: impressions. Advertisers are told that a certain location delivers 100,000 views per day, that more cars passing equals more exposure, and that exposure will drive brand growth.

But here’s the problem: reach is not the same as recall, and exposure is not the same as engagement.

Yet this outdated logic dominates the world of billboards advertising. Marketing teams are pressured to include billboards in their media mix because of “guaranteed visibility,” but the lack of trackable results, behavioral engagement, and attribution makes these impressions mostly meaningless.

In this blog, we’ll break down the illusion of reach, unpack the flaws in traditional ROI measurements for billboards ads, and offer alternative strategies that give marketers real data—and real results.

The Industry’s Obsession with Reach Over Results

Why Measuring ROI for Billboards Misses the Point

Billboard companies typically sell ad space by promising high Daily Effective Circulation (DEC) or Out-of-Home Ratings (OOH GRPs). These are based on traffic data—how many cars or pedestrians pass a billboard location in a given period.

But ask yourself this:
How many billboards did you drive past today?
How many can you recall?
How many made you take action?

That’s the gap between billboards ad reach and billboards ad effectiveness.

While these numbers may look impressive in a media plan, they:

Don’t measure attention

Don’t measure interaction

Don’t measure conversion

And without those metrics, how can any brand honestly say they’re measuring ROI for billboards?

The Engagement Deficit: Why Most Billboards Advertising Gets Ignored

Passive Viewership ≠ Active Impact

In a world where consumers scroll past 6,000–10,000 ads daily, passive media formats are increasingly overlooked. Most drivers are:

Focused on traffic or navigation

Listening to music or podcasts

Already saturated with ad fatigue

This makes billboards advertising vulnerable to what marketers call banner blindness. Just because an ad is in someone’s field of vision doesn’t mean it registers—let alone influences behavior.

The Attribution Black Hole in Measuring ROI for Billboards

You Can’t Optimize What You Can’t Track

One of the biggest flaws in billboards advertisiment is the inability to accurately attribute outcomes. Unlike digital ads, which allow click-throughs, tracking pixels, and A/B testing, billboards offer no direct connection between exposure and consumer action.

Yes, some agencies try to bridge this with:

Geo-fencing and mobile tracking

QR codes on the billboard

“Mention this billboard” style discount codes

But let’s be honest—QR codes 40 feet in the air don’t get scanned. And geo-fencing introduces major privacy concerns while offering minimal data accuracy.

Bottom line: measuring ROI for billboards remains speculative at best.

The Real Cost of Billboard Campaigns (and Missed Opportunity)

CPM Doesn’t Tell the Full Story

Billboards are often sold on the premise of “low cost per thousand impressions (CPM).” But if those impressions don’t lead to engagement, awareness, or action, then even a cheap CPM is a poor investment.

Instead, marketers should be asking:

What is the cost per scan?

What is the cost per coupon redemption?

What is the cost per store visit?

These are the metrics that matter—and billboards ad campaigns rarely deliver them.

Smarter Alternatives to Billboards Advertising: In-Hand OOH

Want Measurable ROI? Bring the Ad to Where People Engage

If you’re serious about measuring ROI for billboards, the best conclusion you might come to is this: Stop using them.

Instead, consider smarter, in-hand alternatives that offer:

Real-time analytics

Direct QR interactions

Contextual relevance

Examples include:

Pizza box top ads – Consumers spend ~20 minutes eating, often in groups. High dwell time, perfect moment for engagement.

Pharmacy bag inserts – Trusted setting, health-conscious consumers, perfect for CPG or wellness brands.

Coffee sleeve ads – Consumers hold your ad for 15–30 minutes. You can’t do that with a billboard.

Laundry or salon ads – Long dwell times in relaxed environments create more opportunity for scanning, reading, and acting.

With these formats, you’re not just reaching people—you’re being held by them. That’s physical, tactile engagement, and it outperforms passive billboards ads every time.

The Psychology of In-Hand Media vs. Billboards Advertising

Touch Builds Memory. Size Doesn’t.

Studies in sensory marketing reveal that tactile experiences increase memory recall and brand trust. This means small, physical media (like a coffee sleeve or takeout box) can be more impactful than a massive billboard because:

They’re part of a personal moment

They’re not surrounded by visual clutter

They invite interaction (e.g., scanning, flipping, reading)

When it comes to measuring ROI for billboards, scale doesn’t equal success—connection does.

Final Thoughts: Stop Measuring the Wrong Metric

Marketers need to stop measuring what’s easy (reach) and start measuring what matters (results). Impressions from billboards advertising don’t tell you:

Who saw your ad

Who engaged with it

Who bought from you because of it

If you’re serious about ROI, it’s time to stop believing in the illusion of visibility and invest in OOH formats that are personal, measurable, and actionable.