Making an informed decision
Ever walked by an amazing billboard and wonder how much it would cost to get your campaign on there? We get asked this all the time - from agencies to small business owners. Especially when there are so many media suppliers across the country each with their own unique inventory of outdoor advertising assets you can rent, it can be difficult not only understanding whether or not the media purchases you made are the right fit for your campaign but also whether you paid a fair value. Through this blog post, we will break it down so you can make an well informed decision to maximize your return on your marketing spend.
Overall, there are three key factors: location, demographics, and billboard type.
Location, location, location! Depending on where your billboard is located, it can dramatically influence not only the amount of people who notice it but how long they pay attention to it. For example, in Toronto, having a billboard in a popular location like Yonge-Dundas Square would be prime. But despite the high foot fall and of course, the number of impressions to go with it, it is important to also be careful about the visibility of your billboard and the lighting. If it is tucked in an area where there is a lot of competing billboards or hidden behind a tree - that would make your advertising efforts not nearly as effective as it would have you picked a more optimal location.
The demographic of people likely to pass by a billboard plays a role in determining that billboard’s pricing. While this may be difficult on your own, at Adsight, we empower you with demographic metrics and provide you with all the tools you need to maximize the impact of your campaign. Demographics such as age, gender, and income are important for you to know and you will find that billboards in locations where buying power is higher tends to be more expensive. In other words, you can expect to pay more to advertise to people who are willing to buy more.
The type of billboard can impact your costs as well because of the billboard type and its associated installation costs. For example, physical billboards have different cost breakdowns compared to digital billboards. When you are choosing to advertise with physical billboards, you usually have to pay to print your advertisement on vinyl, a type of material used for billboard ads due to its weather resistance. Vinyl usually costs about 50 cents per square foot so printing an advertisement on vinyl for a 14 x 48 foot bulletin billboard requires almost 700 square foot of material and will cost anything between $300 and $500.
On the other hand, digital billboards do not require you to print your ad. In fact, you can change it whenever and can even target it towards specific audiences by showing certain advertisements at specified times during a day, they are more expensive overall for those very reasons. We will dive into the benefits and limitations of each in our next blog post, but these are some high level considerations you can start out with when determining which is a better fit for you.
So, how much do they typically cost?
Billboards in Canada range from $400 per month all the way up to $5000 per month for digital billboards in very high traffic locations. That is why billboards are known to be so cost effective.
If you are interested in billboard advertising, we recommend you take a look around Adsight. With our technology, you can discover media inventory across Canada with a touch of a button with all the information needed to empower you to decide whether outdoor advertising is right for you.