Why Some Companies Struggle With Competitive Billboard Pricing
Before getting into the details of pricing, it is important to note that OOH advertising is effectively more cost-effective than other options. Typically almost 80% less than running a TV commercial. That said, it is also important to note that many companies struggle with finding the right price for their billboard advertising campaigns. Let’s understand a few things about billboard advertising and what affects the OOH advertising rates and how to budget for including outdoor advertising in your marketing plans.
So, why do many companies struggle with billboard pricing? Here are a few reasons to consider:
Standardization: There isn’t a standardized rate plan for billboards. There are however a few key elements that influence its pricing. One of the factors is the visibility of your OOH advertising piece. The easier your ad is to be seen, the more the cost of the billboard. Further, the traffic count on the street matters too. Although it is difficult to calculate the exact traffic count, in general, busier locations are costlier than the ones with slow traffic. Further, billboards could cost more during certain seasons and less during others. Next, there are the demographics to consider – busy areas will have higher rates. Lastly, the type of outdoor advertising you choose affects the price too.
The supply and demand model impact the pricing too. The availability of ad space directly impacts the costs. The more people want the advertising space, the more its price is.
So, how do you put it all together and skip the struggle?
Preparation and research is the key to skip the struggle. Finding the right location, comparing the prices of the various sizes of available billboards etc. could be quite a task. Well, the ownership of these billboards is also scattered among various localized advertising agencies. Initial research consequently took a lot of time and double the efforts. Well, today, this kind of research and billboard booking is made easy with squiboo. All information you would want to know about the billboard is available within a few clicks – without having to contact individual advertising agencies. It expedites your marketing campaigns and helps you find the right hoarding at the right location for your campaign. That’s the end of all the struggle – you can look up billboards anywhere across India and instantly make your bookings online. You can get rid of the time wasted on initial research and preparation and focus on the more important aspects of the actual campaign.