Billboard advertising8/27/2023 ![]() Prices will be based on market prices in your chosen location. How much should you charge for billboard ad space? Those would require less of an upfront investment. In addition to billboard ads, you could offer bench ads or bus stop ads. What? Determine your products or services This should identify areas where you can strengthen your business and gain a competitive edge to make better business decisions. Identify your competitors’ strengths and weaknesses.Check out their online reviews and ratings on Google, Yelp, and Facebook to get an idea of what their customers like and dislike.Review your competitors’ services – their features, pricing, and quality – and marketing strategies.Make a list of billboard advertising businesses that offer similar services.Analyze your competitorsĪnalyze competitors to gain a better understanding of the market and identify opportunities. This could jumpstart your word-of-mouth marketing and attract clients right away. You might consider targeting a niche, such as digital billboards. With annual revenue of $216,000, you’d make a tidy profit of $108,000. These calculations will assume that you’ll start with one billboard that brings in $3,000 per month, which would mean $36,000 in revenue and $18,000 in profit.Īs you gain traction, you might add five new billboards to your portfolio for a total of six. Your overall profit margin after all expenses should be about 50%. In both these areas, you can expect to pay the landowner about 20% of what you bring in. In a rural area you can expect about $1,500 per month, while for billboards in a mid-sized city can fetch $3,000 per month. How much you charge for billboard advertising space will depend on the location. How much can you earn from a billboard advertising business? Setting up a business name and corporation This increases your upfront costs, but you’ll have a higher profit margin going forward since you won’t be making lease payments. Instead of leasing the land, you could purchase an easement on the landowner’s property from the landowner. Costs include your initial lease payment and the construction of the billboard. Startup costs for a billboard advertising business range from $80,000 to $115,000. 66% of OOH viewers, ages 16+, were prompted by an OOH ad to engage in an action on their smartphone, and 42% used their smartphone to search for an OOH advertiser.How much does it cost to start a billboard advertising business?.OOH generates over 3 times the level of expected online activation based on share of ad spend. OOH drives more online activity per ad dollar spent than TV, radio, print, and banner ads.For every $1 spent on OOH approximately $5.97 in sales is generated, outperforming digital display, print and radio. OOH generates greater store traffic increases than mobile, or mobile plus desktop media.Research recommends the OOH media plan share to be between 9%-17%, but current OOH average share is only 4%. Most consumers spend 70% of their waking hours away from home, but OOH is under-allocated in many media plans.OOH viewers are younger and more affluent than the general US population, and the highest indexing OOH demographic is adults in the age range of 16 – 34.Consumers 18-64 spend more time with OOH than any other ad media except for television.Only digital advertising has grown faster. Record levels of consumer miles driven and passenger miles flown have helped make OOH the second fastest-growing ad medium in the U.S.
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