Here the Reasons of a Billboard’s Cost Increase
The Covid-19 pandemic hit fast sending United States into a lockdown. Businesses shutdown temporarily while those that continued operations, embraced the work from home model. What followed was different sectors dealing with the effects of Covid-19. One of the economic sectors that felt the effects of Covid-19 pandemic is the advertising sector. The billboards and other OOH advertising approaches could not generate the expected number of impressions as people worked from home.
Today, we are on the economic recovery phase, and people have begun travelling around thanks to the Covid-19 vaccine. Thus, the cost of billboards advertising is expected to increase. This is because the traffic has increased, and therefore business will pay more to reach the target audience. Unfortunately, businesses are yet to start recovering from the losses they incurred during the pandemic. That means small businesses may not be able to finance the cost of billboard advertising. Besides, billboards may not be so effective compared to in-hand advertising methods. here are some reasons not to trust billboards when it comes to reaching the target audience.
· None Targeted Advertising
Billboard advertising is not an effective method when it comes to targeting customers. consider that a billboard on the highway, broadcasts the advertisement message, which means the advertiser could be using his resources to advertise to audience who may not convert. Consider that moving a billboard to a different location is not as easy, and may require printing another banner. Thus, billboard advertising is not the best approach when it comes to delivering targeted campaigns.
The cost of putting up a billboard is higher compared to how much you spend to advertise on coffee sleeves or even the bar coasters. Therefore, it is difficult for a startup to sustain billboard advertising. Moreover, at this time when businesses are trying to save and ensure they can do more with limited budget, billboard advertising is not an option.
· Billboards Generate Shorter Attention Span
Another shortcoming when it comes to advertising through use of billboards is that the attention span is limited. Often, the billboards are placed on roadsides, and so the target audience is drivers and the passengers. Therefore, one would have to stop, and pay attention to the billboard, for the message to sink deep. The short attention span works against building brand awareness through use of billboards.
In-hand Advertising Approach
A good alternative to billboard advertising is the use of in-hand advertising approaches. Therefore, businesses can place the brand name on the hands of the targeted consumer. In addition, billboard advertising could cost 7% more than the cost of in-hand adverts.