According to research, 49% of adult consumers notice billboard advertising more than they did a year ago. Now that many of us are post-pandemic and back to our daily commute, this is not surprising. And although billboard advertising isn’t the typical ad strategy for most, it can be very effective for your real estate business because it is memorable. Following is the low-down on billboard advertising for real estate agents:
WHAT IS OOH ADVERTISING?
Billboards fall under the category of Out Of Home advertising (OOH) and are placed in areas of highest traffic. Because they’re in such busy areas, billboards tend to have the highest number of views and impressions when compared to other marketing methods. They also reinforce your other marketing channels, such as social media, email marketing, website and print marketing.
BUT DOES IT REALLY WORK?
Once thought to be old fashioned and no longer relevant, billboard marketing has achieved uber-status now that you can also get it in “3-D digital.”
And here’s what the stats from Statista say:
- 82% say they can remember a billboard ad they saw over a month ago
- 32% say they like billboard ads and 9% say they like them “a lot.”
- There are over 350K billboards in the US and over 9500K are digital
- 35% take action after seeing a digital billboard ad, and 20% recommend the brand seen on a digital billboard ad
- ROI on billboard advertising is between 38 – 40%, regardless of whether it’s digital or not
And OOH statistics show that people like and remember billboard advertising more than TV, podcasts, radio, print ads and online ads.
COSTS OF BILLBOARD ADVERTISING
In comparison to other forms of advertising, billboard marketing can be expensive. A non-profit company called GeoPath measures OOH ratings by using technology and media research to estimate weekly impressions of every billboard in the country. Check them out if you’re ready to pull the trigger on billboard ads. Meanwhile, here are some ballpark figures to consider when it comes to cost:
- The average cost is $850 for four weeks, typically charged monthly.
- Average cost of a digital version of your billboard will run about $2100 for a month
- Design costs are on average $150 per hour with an average total cost of $2000 for one design
TIPS FOR EFFECTIVE BILLBOARD AD DESIGN
- Location, location, location
- Keep it bold, readable and simple
- Make it memorable
- Make it about your customer, not about you
- Keep your message short, simple and catchy
- Match your billboard design to the rest of your branding (colors, logo, tagline, etc.)
Finally, one of the most powerful reasons to invest in billboard advertising is for reinforcing brand recognition. If you have the budget, that alone may be a compelling reason to give billboard advertising a try.