With many advertising opportunities available to business owners, it can be hard to know how to best allocate marketing dollars. To help entrepreneurs facing this dilemma, we’re comparing web ads and outdoor advertising according to the categories we know to be most important: cost, ROI and audience reception.
Some digital advertising platforms have the benefit of a “choose your own price” feature, but it doesn’t act exactly as most business owners would expect. While putting a few dollars behind Google Adwords and Facebook Advertising can seem like a cost-effective way to spend your marketing budget, choosing your own price doesn’t mean saving. Lower budgets mean drastically less visibility and fewer unique views. In contrast, outdoor advertising has the lowest cost per view of any advertising medium available, including radio, broadcast, cable, newspapers and magazines.
Return on Investment (ROI)
Every dollar spent on outdoor advertising generates a $5.97 ROI. That makes outdoor advertising 40 percent more cost-effective than digital search, according to research by the OAAA. When compared to other mediums, like magazine and television advertising, this gap in ROI only increases. This can be attributed to reaching customers when they’re likely to act. For example, if your restaurant ad appears on a user’s phone screen while they’re on the hunt for natural cleaning advice, that ad is likely to be ignored. However, with 72 percent of billboard viewers frequently or sometimes shopping on their way home from work, billboard ads are reaching customers as they consider shopping decisions.
Beyond reaching your customers, it’s vital that your advertising engages them. Whether that means the customer immediately visiting your store, visiting you online or buying a product, it all starts with a good first impression. A good way to think about digital vs outdoor advertising is to think of the skip button that accompanies ads on Facebook, Youtube or mobile apps. Of course, it’s impossible for your ad to resonate with 100 percent of your audience (“because even if you’re the sweetest peach…”), but it also shouldn’t irritate your viewers. If your audience sits with their finger hovering over the skip button, you’re paying for your message to reach blind (and annoyed) eyes. Outdoor advertising doesn’t have a skip button, because it doesn’t need one. If you don’t like the ad, look away. If you do, join the 24 percent of people who have immediately visited a business because of an outdoor ad message.
While outdoor advertising and digital media can work hand-in-hand to deliver a message to consumers, in a side-by-side comparison, outdoor advertising proves to be a more effective way to market. If you’re interesting in adding outdoor advertising to your marketing strategy, get in touch with us at New South Outdoor today.