Digital billboards are over a decade old and yet people are going on about it being a very expensive and risky investment. Ask anyone who has invested in a digital billboard and they will tell you that it is no doubt a great investment, provided you place them in the correct location.
Being strategic about the placement of your digital billboard will result in generation of added revenue. Educate your sales staff on digital space and how to sell digital space. Inform them about the best way to be strategic in placing digital billboards. Encourage your advertisers to make use of the unique marketing communication made possible with the use of digital billboards.
Although static billboards may be a good choice for certain locations and some advertisers, digital billboards have the competitive edge in situations where supply is not sufficient to meet demand. Because the industry of outdoor advertising comes with a lot of rules and regulations, going digital plays a major role in growing inventory for a business. By converting one static billboard to a digital one multiplies your inventory by six!
Advertisers will not be convinced unless they read and understand the unique benefits of going digital.
Flexibility
Digital billboards have high levels of flexibility. Advertisers have the opportunity to purchase short intervals of display time on digital billboards. Static billboards do not provide this facility. This roll-over of display time and space on digital billboards itself results in six figure annual revenue. This kind of revenue would not be possible if only static billboards were being used by businesses.
In addition to roll-over space and time, updating and changing your advertising message is unimaginably easy, and can be done at a fraction of the cost compared to television and radio. Short dated events such as concerts and jewelry shows would never dream of LED advertising if not for the possibilities of shorter run brackets. Such event managers would rather invest in this kind of LED advertising instead of creating a static billboard for their event, which would go waste once the event was over.
Target Audience
Networks formed through a connection of LED billboards can together deliver content to a targeted audience. This type of digital networks are way more cost effective compared to any alternative advertising method that aims to cover the entire market, while at the same time hyper-target a group of customers from niche geographic areas who want to avoid the wastage that comes from purchasing radio and television broadcast coverage.
Less Time Consuming
Traditional advertising media such as newspaper and television take at least 24 hours to broadcast a message for you. With digital billboards, it takes only 30 minutes or even less. This quick turnaround is essential for advertisers who are time sensitive.
Not every location is ideal for digital billboards
When researching locations for your digital billboard, first figure out an estimate to show you how much revenue that particular location will generate. To do this, you have to first review the supply and demand for that area. To produce the revenue figures for the LED billboard, use the revenue figures of a static billboard and modify it by a slight percentage based on your surrounding market. Multiply this rate by six slots. Next, calculate how much incremental cash flow a digital billboard will generate. Now consider the cost of the billboard and based on the revenue figures for that location, you can decide whether it is worth to place your digital billboard in that location. Placing your digital billboard in the right location will be massive contributors toward the growth of your company.
Corporate social responsibility with LED billboards
Being supportive of your community is definitely not cost effective with static billboards. But with digital billboards, this venture is easy and economical. If you have any unsold slots on your billboard, you can use those to advertise messages for non-profit organizations such as Churches, schools, criminal investigations, anti-drug messages and so on.
Conclusion
Not all billboards are as profitable as others, but a digital billboard is always a good investment. No regrets. The key factors are to place the billboard in the correct location based on supply and demand, and to approach the right kind of advertisers who will reap the many benefits offered by digital billboards.
