Ever wonder how effective your billboard advertising is at bringing in new business? In this article, we'll discuss the ROI of billboard advertising and how it compares to digital marketing.
So, how do billboard advertising and digital marketing compare when it comes to cost?
Average Cost of Billboard Advertising in Florida
Digital Billboards - $2,500-$8,000
Large Billboards - $1,500-$5,000
Regular Billboards - $700-$3,000
You’re spending anywhere from $700 to $8,000+ per month depending on the size and location of your billboard.
That’s a lot of money to be spending to not know exactly how many people are seeing your advertisement --- and if they’re even paying attention to the ad.
Here's what you could get with $2,000 in digital marketing services:
A marketing strategist who personalizes your strategy to your business goals and constantly measures and optimizes your online presence
Online directory and presence management, meaning your listings on Google, Facebook, etc. will be updated with accurate information so that you show up more frequently when local customers are looking for your products or services
A weekly phone call with your strategist to go over your progress
A transparent look at your marketing analytics
Help managing your leads
How to Track the ROI of Billboards
We’ve talked about tracking offline conversions before, and while some drivers claim to have called or visited a business they saw on a billboard, actually tracking this number is tough.
Some billboard advertising companies will give you a breakdown of the number of people who drive by your billboard each day, week or month, but there’s no way to know if those people are looking at your billboard or their crying child in the back seat.
But, if you have a billboard out there, the best way to track the number of people who choose your business based on your outdoor advertising efforts is to ask each customer or client how they found your business.
After a couple of months, add up the sales you've received from customers who found you through a billboard. On average, does this pay for your billboard advertising?
How to Track the ROI of Digital Marketing
Depending on what you want to track, you’ll have access to these insights:
Google My Business Analytics
With the analytics we provide you can see the exact number of Leads generated, Cost per lead, Amount spent, impressions, and number of people reached, or the exact amount of people that saw your ad on their facebook timeline.
Whether you advertise on a billboard or through digital marketing will depend on your business's budget. But, in the end, you'll still need a digital marketing strategy so that when those customers who find you on a billboard want to research your business online, they find accurate, consistent information about you.