Why The Cost of Billboard Is Unjustifiable
The essence of displaying advertisements is to drive brand awareness and to increase the demand for goods and services of a particular business.
Sometimes, it is difficult to determine the correlation between the cost of a billboard and the subsequent shift in demand.
The cost of a billboard advertisement is high
When it comes to billboard advertisements, one thing is clear. The cost of the billboard is high throughout the US and worldwide. On average, a business spends not less than $15,000 on digital billboards inexpensive US cities like New York. In small to medium towns, the average cost of advertising via billboards ranges from $1,500 to $4,000. Now that is a lot of money, especially for a small company.
On the contrary, alternative advertising techniques like in-the-hand marketing are very cheap and more effective. For instance, $15,000 can place ads on over 65,000 pizza boxes. These pizza boxes can cover over 32 different locations in a city. Interestingly, you will be lucky to generate 100,000 with a billboard in a city like New York per month. In contrast, pizza boxes go in the hands of the target customers.
Therefore, a business will achieve three things when using pizza boxes instead of billboards. First, placing the ad literally in the hands of the target audience helps with precise targeting. Interestingly, accurate targeting is a challenge that billboards cannot overcome. There is no way to choose particular pairs of eyes from a crowd of drivers and passengers on a busy highway.
It is impossible to track ROI when using billboards
Secondly, pizza box advertising achieve more rates of engagement than billboards. Notably, many drivers on highways are busy avoiding accidents and in a hurry to reach their destinations. It is impossible for such a distracted lot even to notice the billboard. On the contrary, pizza buyers spend more than 20 minutes peacefully eating the pizza. During this time, they are peaceful and least distracted. As such, it is highly likely that the people will read the message hence driving up engagement levels.
Thirdly, using pizza boxes to advertise enables businesses to track return on investment (ROI) quickly. Say an advertiser dispatches 65,000 branded pizza boxes to 32 locations within New York City. If the ad contains a message about the dangers of drink-driving, one can easily track the number of DUI-based accidents within the vicinity of the 32 locations. If DUI accidents are less than before the campaign, one can quickly determine the ROI. On the contrary, it is difficult to keep track of drivers and commuters who read billboards. Some of them could be visitors from far-off places. As such, there is no way one can keep track of the ROI.
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