How to Measure Billboard Advertising Effectiveness.
UNiDAYS Campaign with Student Screens and QR Code activation.
Marketing is about getting your brand in front of the right people and as a business, you want to be sure that your advertising spend is seeing a return.
Billboards have been a popular advertising tool for a good few hundred years and thanks to developments in technology, it’s no longer passive and solely used for brand awareness.
Modern tech now allows marketers to gain real insight by accurately tracking and measuring impact. This data-driven, GDPR-compliant approach helps big brands refine their strategies and maximise ROI on their billboard advertising campaign.
You may be asking yourself “How do you measure the effectiveness of a billboard campaign?” We’re here to discuss the quantitative and qualitative ways in which you can. So let’s get into it.
Firstly - let’s get some definitions nailed down.
What are KPIs?
KPIs are targets used to evaluate the success of an objective and are directly linked to the goal of the project. KPIs can vary depending on the advertising campaign but are essential for evaluating the campaign’s success.
There are several KPIs that you can use to measure the effectiveness of a billboard campaign, including: impressions, reach, click-through rate (CTR), conversion rate, ROI, brand awareness and engagement rate.
Traditional Methods of Measuring Billboard Effectiveness
One key performance indicator to consider when tracking a billboard campaign is billboard impressions. Billboard impressions refer to the number of times a billboard advertisement is potentially seen by individuals.
It is representative of the total counts of exposure to an advertisement regardless of whether the individuals interact with it. Unfortunately, this information did not accurately tell advertisers how many people were seeing their ads, but rather the number of people that could be seeing their ads.
Let’s break down the methodology used to calculate billboard impressions:
Daily Traffic Count: Begin by obtaining the average daily traffic count (ADTC for the area where your billboard is located. You can get this information from the UK government website, local transportation departments, city planning offices or traffic agencies.
Calculate Daily Impressions: Multiply the average daily traffic count by the percentage of people who are likely to see your billboard. This percentage is known as the “Likely-to-See Factor” and is typically estimated based on industry standards and experience. For example, if the ADTC is 100,000 and the LTSF is 80%, the daily impressions would be 80,000 (100,000 x 0.8).
An Innovative Approach to Measuring OOH Advertising
A non-profit organisation, Geopath recognised the issue faced by advertisers when determining the effectiveness out-of-home advertising and started working to develop a new way to calculate impressions.
Through research, Geopath found a way to ‘not only measure audiences as they travel past ads but also determine audiences for ads as they rotate in time on thousands of digital structures.’ (2) This system provides advertisers with a credible metric necessary to compare and effectively compete with other measured media.
Using both anonymous and marketing firm data, they take into consideration the circulation, reach, visibility and demographics of an OOH advertising opportunity so that advertisers are equipped with an understanding of how visible the advertisement is, what kind of consumers are likely to see it and how often they’ll see it. Ultimately helping advertisers to make the best decision and maximise return on investment.
Best Practices for Measuring the Effectiveness of a Billboard Campaign:
1) Determine the objective of the campaign
It’s important to understand the aim of your billboard campaign to effectively measure its performance. The objective should be specific, measurable and aligned with the brand’s marketing goals.
2) Select the KPIs and metrics
Once the goal is established, you can select the relevant KPIs and metrics to measure the campaign performance.
3) Use data and technology to track performance
At One Day Agency, we use a mix of proprietary tools, leading behavioural audience insights and balance budgets and placements to achieve the highest frequency possible for the objective. Check out our approach for more information.
4) Benchmark performance against competitors
Benchmarking your billboard campaign performance against competitors can provide valuable insights into how well a campaign has performed relative to others in the industry. This information can help advertisers to make informed decisions about optimising campaigns for maximum impact.
Ways to Determine if a Billboard Campaign is Effective
GPS and Geolocation
Billboards that are equipped with GPS technology can track the movement of mobile devices within their vicinity.
This means that advertisers can estimate the number of eyes on the billboard by tracking the number of people who enter the area and gain insights into audience demographics, including their travel patterns and dwell times. Overall, it allows for data-driven decision-making and enhances ROI.
Bluetooth and Beacon Technology
Bluetooth beacons placed near billboards can interact with mobile devices equipped with Bluetooth capabilities.
This is called proximity-based engagement and unlocks the potential to send ads or messages to a user’s smartphone when their presence is detected. This allows for targeted marketing and a more personalised approach, creating a more interactive and engaging experience with your brand.
QR Codes and NFC Tags
Including QR codes or Near Field Communication (NFC) tags on billboards encourages users to interact with your billboard ads. By scanning a QR code or interacting with the NFC tag, potential customers can be directed to a landing page or app, allowing advertisers to track conversion rates and engagement levels.
Audience Measurement Solutions
We work with analytics tools and platforms that combine various data sources, including traffic data, mobile data and demographic information to provide comprehensive insights into billboard campaign performance.
Social Media Listening
We take a look at whether your billboard has gone viral. Monitoring social media mentions and trends related to billboard campaigns can provide qualitative insights into audience sentiment and engagement.
Surveys
Alongside social listening, surveys can be used to track brand favourability and sentiment after seeing an advert. With the survey, you can track the number of positive and negative comments associated with the billboard ad.
Raventos Codorníu - London Underground Advertising.
Is Billboard Advertising Effective?
We’re written an article about the effectiveness of billboards here. There are numerous ways to advertise your brand, from snappy social media ads to more traditional forms of advertising, such as billboards. However, the effectiveness of your advertising needs to be researched, tracked and measured in order to determine the return on investment (ROI). You can do this by setting campaign goals and using metrics and key performance indicators (KPIs).
The aim of a billboard advertisement depends on the individual brand and campaign but their main purpose is to capture mass amounts of attention and create memorable impressions instantaneously.
Billboards offer high visibility and brand awareness. They can be useful advertising tools on their own or form a powerful part of a cross-platform marketing strategy.
In 2007, the marketing firm Yankelovich claimed that the average American sees around 5,000 ads per day. Today, that figure is somewhere in the range of 4,000 - 10,000 according to data (1). Measuring the effectiveness is paramount to ensure that resources are optimised and your campaign is having a maximum impact in standing out amongst competitors.
Final thoughts on measuring billboard ad effectiveness
There are a variety of ways to measure the effectiveness of a billboard campaign but first, you must consider the campaign objective and outline the metrics and KPIs needed to measure performance. This blog explores the quantitative and qualitative ways in which you can do this, including QR codes, social listening, geolocation and more. These techniques can help advertisers gain valuable insights into click-through and conversion rates, brand awareness, impressions and overall success of a billboard campaign.
For more information on strategising a billboard campaign for maximum impact, please get in touch with One Day Billboard advertising agency using our contact form.
FAQs
How do you measure ROI on a billboard?
Billboard advertising is often used for brand awareness and reaching vast amounts of people. Although it can be challenging to directly track some consumer behaviour as a result of interacting with a billboard, there are a few ways to measure the return on investment of billboard advertising.
One way in which we do this is by paid attribution. We will assign value to a touchpoint such as geolocation or pinging mobile phones to get an understanding on the customer’s journey that led to a conversion. We also play close attention to viral activity which can be sparked as a result of a creative billboard advertising campaign.
What is the success rate of billboard advertising?
A study found that people who have seen an OOH advert are 17% more likely to interact with the brand on their phone than those who have not (source) indicating billboards increase brand engagement. Another study found that 82% of viewers were able to recall a DOOH advertisement that they saw over a month ago, suggesting that DOOH advertisements leave a lasting impression on viewers. (source) It’s therefore fair to say that billboard advertising is not only successful at delivering brand awareness but can increase brand engagement and leave a lasting impression that positively affects brands that invest in the advertising medium.
References
1) https://permission.io/blog/how-many-ads-per-day/
2) https://geopath.org/geekout/
If you want to learn more about Billboard Advertising, reach out to us today.
