Although electronic billboards, often known as digital billboards, are relatively new, their popularity among advertisers is unquestionable. It’s not unexpected given the many benefits it provides over static billboards. Electronic billboards serve more than only as advertising tools, though. They can be used as signage to inform the public, to make PSAs (public safety announcements), etc. The cost of an electronic billboard is based on the display’s size. Additionally, it depends on whether you own or rent. Let’s go right to the meat of the matter now.
Electronic billboard types
Making the best decision among the various billboard types that are available on the market can occasionally be challenging. There are many possibilities available with just electronic billboards, and now I’ll go into greater detail about the six most common.
Electronic signs are typically employed on a smaller scale and for business purposes. They can be found inside or outside of stores, at airports, parking lots, and transit stops. These people are everywhere. Smaller ones are used to notify the audience of information like business hours or promotions. They are also uncomplicated. They display a few words that move slowly across the screen to make it simple to read.
Some signs are visible underneath or above typical billboards. Additionally, there are signs that you can place at your place of business just for advertising purposes. Digital signage make your establishment more visible from a distance, which boosts the volume of foot traffic. It’s also one of the most reasonably priced digital billboards available. The prices are between $200 and $1500. The cost increases with the level of sophistication. Therefore, a small sign with the dimensions 39″ x 14″ would cost between $200 and $300, and a larger sign with the proportions 38.3″ x 22.8″ x 2.2″ would cost around $1,200.
Digital kiosk billboards are a type of interactive, digital billboard. In transport stations, airports, restaurants, retail centres, movie theatres, etc., it may be outside or indoors. They are for purchasing and informative purposes. It’s an effective technique to assist them in locating what they require without having to follow them around. They can buy their tickets immediately through a kick online and print them right now. There are so many levels of customisation available that it is impossible to determine specific pricing. Well, not until you are certain of every every aspect of what you desire.
Between $5,000 and $7,000 can be spent on a kiosk with a printer, touch screen, keyboard, card reader, and full enclosure. You would need to pay a few thousand more if you wanted to include software. And by “a few thousand more,” I mean that your total—including licence costs—could equal $20,000 per kiosk.
Advertising in transit
Bus shelters, subway station billboards, and advertisements on the inside and outside of transport vehicles all fall under the category of transit advertising. But given that we’re discussing electronic billboards, we’ll concentrate more on bus stops and subway stations. Because it generates so many impressions, transit advertising is also a fantastic investment for advertisers. This is particularly true in large cities with developed public transit systems. For instance, hundreds of commuters use the bus stops and subways each day in New York City and Toronto.
While people are waiting for the bus or subway, electronic billboards in transit are a great opportunity for businesses to pique their interest and enlighten them. You ought to benefit from it. Plus, it accomplishes the same goal for less money than TV advertising. Plus, it’s more entertaining than TV. Bus shelters and subway stations can rent a digital billboard for between $3,000 and $6,500 for a four-week period. Depending on the area and size, it might even be more.
Time Square in New York City serves as a prime illustration of how powerful digital billboard advertising can be. It not only makes that area of the city appealing, but it also ranks among the most popular destinations on the planet. What does that suggest for marketers? tens of thousands of impressions. And it can’t be inexpensive to get that many impressions. Time Square’s digital billboards may advertise for up to $3 million a month. Fortunately, advertising on digital billboards generally doesn’t cost too much. Circulation, demographics, and CPM, or cost per thousand impressions, are the key determinants of rates. These factors apply to all forms of OOH, not only digital billboards.
The cost of erecting a digital billboard varies depending on the circulation of your advertisement—how many people pass by it each day. These variances also depend on who these individuals are in terms of their age, economic level, gender, and likelihood of seeing your advertisement (demographics) (CPM). The costs range from $2,000 to $15,000 or more if you’re renting. However, if you’re prepared to construct a billboard, the prices will go beyond those listed here. After dealing with material purchase prices, you would then have to pay for installation and maintenance. You’re looking at a total cost of at least $154,000.
When your business creates its own digital ad designs, you can still save some money, but only if your team is comprised of excellent designers. After all this work, it would be a shame if your advertisement failed to provide the desired results only due to poor design. Having said that, you should be aware that hiring a different business to design your ads may cost you at least $150 and possibly as much as $1,000. You can be charged more, depending on the business and their level of competence.
The most contemporary and most innovative advertising method is smart billboards. Don’t become doubtful if you haven’t heard of them because they aren’t well known yet. It is a billboard that can send and receive data over an information network in order to respond dynamically to its surroundings. To put it another way, a smart billboard responds to its surroundings. The “coughing man” campaign is a fantastic illustration of a clever billboard promotion. The billboards in Sweden had detectors built into them so that if there was smoke, a guy would appear on the screen and begin coughing. Then a film warning people not to smoke and a commercial for a drug to treat nicotine addiction emerged.
If you wish to learn more about it, there are several examples of it on the internet. The major lesson, though, is that it facilitates interactions between advertisers and their target audience better than the usual digital billboard. Smart billboards, particularly those using facial recognition technology, give the impression that the marketer is speaking directly to the target audience. There is currently no clear information available regarding pricing, however it should be somewhat comparable to that of standard digital billboards. You can speak with the organisation that rents billboards directly.
Trailers on wheels
Digital billboards installed on mobile trailers are referred to as mobile trailer billboards. Isn’t that obvious? It’s a wise choice to take into account while advertising in public spaces like marketplaces or in pop-up windows. Even guerilla marketing can benefit from it. Only use this option if you want to transfer your billboard to a different place. It makes it simple to do so, enabling you to avoid wasting money. Sadly, it is impossible to operate them while moving.
Rates for mobile trailers, including rental costs, range from $4,000 to $8,000 per trailer each month. You must also take into mind the size because it can affect the charges. Remember that these prices can change depending on the company. It may occasionally total $15,000, or about $180,000 annually. Although it appears excessive, it’s worthwhile.
Mobile Digital Billboards
Mobile trailers and digital mobile billboards are quite similar, with the exception that the latter can be used while moving. Amazing, isn’t it? The procedure of renting would be the same as renting a typical mobile billboard: you would rent the truck and decorate it with your artistic creations. However, the prices could vary. There is more labour being done since it is digital, particularly in terms of installation. Depending on the size and the organisation you are working with, renting a digital mobile billboard can range from $1250 to $3600 per truck for 8 hours. Some businesses may rent on 4-week cycles rather than by the hour.
Benefits of Digital Billboards
In many ways, electronic billboards are among the best ways to advertise or enlighten the public.
- Moving visuals on digital billboards help them to attract viewers’ attention more effectively than static ones do. In fact, compared to conventional billboards, digital billboards are six times more effective.
- You can opt to have your advertisement appear at particular times of the day, making them more targeted. So that your audience might view it on their way to work or school, it might, for instance, show a coffee shop advertisement in the morning.
- It provides more flexibility because you may alter your copy and visuals at any time, even after it has already broadcast, without incurring additional expenditures. Additionally, you can broadcast live events and user-generated media on your website and on social media.
- You can run clever adverts to give the impression that your billboard responds to its surroundings. For instance, you might set up your smart billboard to play an advertisement for cough treatment whenever someone coughs nearby.
Electronic billboards’ drawbacks
Although effective, electronic billboard advertising has some restrictions:
- When you want to advertise on a tight budget, it might be expensive, especially for small firms, so it might be out of your price range.
- Since they haven’t been around for very long, they are less accessible than conventional billboards yet are nonetheless popular with advertising. As a result, it can take a while until you can rent one at the desired place.
- Due to the fact that it is electric, it can malfunction. When working with technology, many unforeseen concerns might occur, such as power outages, infections, or other electrical problems.
- Not environmentally friendly because it consumes a lot of energy to continuously run advertisements.
- It’s possible that other marketers will have to share your spot. In that instance, it would be challenging to estimate how many members of your target market will see your advertisement when it appears on the board.
Do you still want to go to digital? Since everyone is doing it these days, why not you? You might not even have an option. Consider what you can gain instead of employing conventional billboards as you consider the potential costs and benefits of doing this. For instance, if your business is located at an airport or bus station, you unquestionably require kiosks to assist your consumers in finding travel information and making ticket purchases. An electronic billboard is the best option for you if you’re a business owner who requires your potential clients to be able to recognise you from a great distance. Particularly if you are open at night. In any event, it’s better to gather as much knowledge as you can before acting.