How many billboards do you see each day as you drive to work, pick up the kids from school, or run errands? Probably quite a few. Now, how can you get your message in front of these people?
Chances are, you didn’t take the time to fully absorb the billboard and may not even remember the name of the company that was shouting at you in bold letters on a 672 square foot canvas.
With all of the tools readily available on the internet, it’s astonishing how many blind investments are made by companies promoting products and services with billboards.
Billboards are expensive, do they provide any ROI?
A typical billboard costs anywhere from $700-$2500 each, depending on the location. Now, this billboard is stationary, so it’s only audience is the oncoming traffic, which probably means the company needs to invest in another 2-3 billboards, bringing the marketing budget up to anywhere between $2,100-$7,500.
So now, a company just spent, no, invested, $7,500 on signs with no quantifiable statistics regarding consumption (how many people see the brand message), sales conversions, and other KPIs (Key Performance Indicators).
Advertising and marketing your brand is about establishing a relationship between yourself and your customers or clients. In order to communicate effectively, you must inform your audience about the right product, at the right time, using the proper medium.
In 2014, the internet provides that medium.
Utilizing the appropriate web marketing channels as your primary advertising platform offers a wide variety of strategies that can be combined into a single campaign. Having a variety of different approaches to promoting your brand allows the cost to be variable and trackable, unlike the fixed fee one must pay for a billboard.
When participating in social media and content marketing, you are reaching your target audience, while also being able to instantly quantify the statistics. You can gauge the effectiveness of your marketing campaigns thanks to analytics that track visitor habits such as: length of visit, pages visited and custom conversion metrics (form completion, checkout, subscriptions).
Online marketing is trackable
You can track your audiences’ clicks, allowing you to see what marketing techniques or channels are most effective.
While a billboard, in theory, reaches everyone in view, an internet marketing campaign is specifically designed to reach only your carefully planned targets, groups and demographics, while allowing you to go toe to toe with the other leading brands in your industry.
Every billboard has a fixed duration contract. With properly executed online marketing, everything is variable; campaigns duration can be extended or shortened based on performance.
The time is now
In order to effectively market your brand and remain competitive, it’s important that you begin to move on from the traditional billboard ads that provide very little quantifiable return on investment. Instead, brands need to promote products and businesses with the opportunities provided by the internet. A place where you can target and connect with potential customers – not just those who happen to look up to the side of a highway.