Billboard advertising refers to large banners of advertising space places outdoors or in public places. It is also called a hoarding in the United Kingdom and other parts of the world. These large structures are more commonly found in motorways and areas with high traffic of people. Typically they are appealing to the general public by conveying witty slogans or outstanding images in an attempt to drive attention. The largest billboards are usually found located primarily on major motorways expressways or principal arterials, and high-density pedestrian street.
In every street, shopping center or road, the gigantic 14x48 ads of Google, Netflix, Amazon cover loom over leveraging billboard advertising and increasing brand awareness. Not long ago, billboards were considered as outdated and irrelevant next to the petrol station or our motorways but today they are one of the fastest-growing advertising formats on the market. But it is growing because digital is becoming so commonplace.
Below I have listed the most relevant billboard advertising statistics that will get you to shape your marketing campaign improve it.
Television ads are still at the top of the most expensive media spaces. Billboard’s effectiveness in consumer engagement is very strong and still as healthy as it was 40 years ago. Even though billboard advertising is much cheaper than running a commercial on tv, it still receives less portion of the advertising budget than other channels such as Tv and digital.
Years ago, digital advertising was much cheaper, as it grows in popularity and the marketer´s favorite channel, its prices keep growing faster. In many cases, billboards could be a more cost-effective way to promote brands and companies with an average cost per thousand views of just over five dollars. Television and magazines still remain the most expensive advertising formats which are followed by all the digital channels.
Billboard and OOH advertising unlike digital format has a higher consumers impact. While most digital banners go unnoticed, billboards are still as effective as they used to be. For example, they are still more effective than television at driving consumers to the digital site. If you take into account that it is much cheaper than running commercials on television, it becomes clear that billboard advertising could be a very cost-effective way to increase brand awareness.
26 percent of pedestrians and drivers who are exposed and attract to banners end up visiting the advertiser´s site to find out more about the brand or product. It is really high rate and a great way to build brand recognition. Billboard advertising works best when doing either locally for a small or medium business or nationally to drive attention to nearby large shops or shopping centers.
If you are unfamiliar with the term OOH - out-of-home advertising -, it refers to all advertising format which is located outdoors and in public places and is intended to target consumers when they are on the go or outdoors. There are multiple OOH formats such as transit, transport, street furniture. Out of all the different formats, billboards are the most popular and demanded to generate 66% of the entire revenue.
The digitalization process that is happening in our society is affecting almost every aspect of our lives including something so traditional and old such as billboards. The all static printed billboards are being turned into digital screens which offer more flexibility to advertisers by allowing to show dynamic ads with video and to have more control over ad scheduling. The digitalization process is happening very fast and will eventually turn every single billboard into a digital screen.
The number of billboards is increasing each year as the population increases too. Just alone in the United Kingdom, the media company Clear Channel has over 4000 billboards and in the US, here over 370 thousand active billboards across the country.
Billboard advertising is being mistaken by one of the most expensive advertising methods but it could be as cheap as 50 pounds per week, depending on the location and its average price in the United Kingdom is between 200 and 500 pounds for two weeks. Prices vary depending on location, the density of population and billboard size.
Event though billboard advertising is knowingly effective, marketers and advertiser´s do not invest much of their budget on this format. These days most executives are choosing to invest most of their efforts and budget on digital advertising which is newer and easier to measure its results. Channels such as Google Ads and Facebook are taking a lot of importance these days thanks to its pricing structure and a very simple buying process.
Clear Channel UK is the British branch of the media conglomerate iHeartMedia with some 70 UK subsidiary companies. Along with another media giant such JCDecaux, both have the largest amount of OOH space. Clear Channel actually possesses thousands of advertising spaces located all across the United Kingdom.
Billboard industry - once being considered as outdated - is still growing and within the OOH advertising channel is consolidated among the strongest and most effective format. Experts predict that its revenue will continue to increase within the next two year up to 33 billion dollars.
Billboard advertising is really old, therefore most of us tend to associate it with more traditional brands or perhaps to the biggest ad spender such Coca Cola but in fact some of the giant technological companies sich Apple and Netflix are among the biggest spenders on billboard advertising. These are not only becoming their clients on OOH but also they becoming their owner as Alibaba and Netflix have recently made large investments on OOH media companies.
OOH advertising including billboards, bus shelters, street furniture can cover almost the entire population in just a week. Out-of-home advertising remains like one of the most effective and traditional advertising format.
Discover how to leverage billboard advertising to grow your revenue. Contact us today for a free quote. At Top Media Advertising, we are experts in OOH advertising and we cover the entire UK territory.