How SMBs Can Make the Most out of OOH Advertising and Outdoor Signs?
Out-of-home (OOH) advertising is one of the largest advertising industries with US businesses spending over $7.7 billion in 2017 alone. And because out-of-home advertising has an ROI of $5.97 on every $1 spent, those $7.7 billion have in turn generated over $45 billion in product sales. And despite growth being slowed down in 2020, OOH advertising is still the second fastest-growing advertising medium in the US.
With out-of-home advertising back on track, we think this is a great time to look at the different forms of OOH ads and how businesses can boost sales with cost-effective outdoor media such as strategically placed signage.
What is OOH Media?
If you’re not very familiar with OOH advertising, it’s a good idea to start by understanding the different forms of OOH media you have at your disposal.
OOH advertising is a broad field consisting of every form of outdoor media used to promote a business. This includes something as small as a flyer to massive digital billboards in city centers, and everything in between.
Following are some of the most popular OOH media for small-medium-enterprises:
Perhaps the most recognizable form of OOH media – a billboard is usually what comes to mind when people think of OOH advertising. The sheer presence of billboards makes them hard to miss and because most people know they are expensive, they have a psychological tendency to pay more attention to billboards – similar to Super Bowl commercials.
But the cost is also one of their biggest limitations, compounded further for small-medium-businesses who cannot invest in enough supplementary marketing to convert the high number of impressions into actual sales.
Wallscapes refer to the graphics on exterior surfaces of buildings. These can be paintings but are more often some form of temporary printed media, such as large posters. Beautiful and colorful wallscapes are especially eye-catching against dull city backgrounds and also socially acceptable because they help with urban beautification.
3. Static Outdoor Signs
“Outdoor signs” is an umbrella term of a wide range of outdoor media including wayfinding signs, plaques, banners, window graphics, building and monument signs, etc. Static outdoor signs are also relatively low-cost and thus have very high return-on-investment (ROI).
In addition to their general purpose of improving brand visibility and generating impressions, outdoor signs also have other purposes such as promoting sales, illuminating dimly-lit areas with LED signs, and conveying safety/compliance (PPE signage).
Related: Where to find the best outdoor signs in Broward County, Fort Lauderdale.
4. Vehicle Wraps
Vehicle wraps are a specific form of transit advertising where an entire vehicle (usually work vehicles) is covered in attractive vinyl to promote the business. Contrary to popular belief, vehicle wraps are actually one of the most effective forms of OOH advertising. In fact, a single wrapped vehicle can generate over $30,000 worth of advertising in a single year, making it one of the best forms of OOH media in terms of ROI, especially when considering the low upfront cost of vehicle wraps.
Related: 5 Reasons to Advertise Your Business with a Vehicle Wrap
5. Handheld Signs
Handheld signs may not be the most popular form of OOH media in the industry, but SMBs cannot ignore their value. Consider this: a static outdoor sign on its own may generate 10,000 impressions a month, but having a person hold that sign can nearly double those impressions to 16,800 impressions (68%). Handheld signs also increase the possibility of direct engagement. That said, handheld signs do add another cost in the form of a wage but it’s usually much lower than the revenue generated.
Maximizing the Impact of OOH Advertising
Outdoor advertising has dozens of individual communication channels and most of them are very different, serving different purposes. So the first step to getting started with outdoor advertising is to determine your business’s requirements and objectives.
Here are a few helpful questions to ask yourself:
- How many people travel within a 500-yard radius of my business? This will help you get an idea of the number of impressions you can get. More impressions mean more sales which is an important consideration when you’re deciding your OOH advertising budget.
- Do most people in this radius walk, use public transport, or have their private vehicles? The mode of transportation is also important because slower modes give you more time to engage and thus your medium can contain more details or be smaller.
- Is your business easily visible to passers-by? In many cases, businesses do a good job of creating impressions but fail to convert those impressions into sales, simply because they didn’t have outdoor signs to direct potential customers to their business.
- How much time, on average, do you have for driving engagement? If your targeting people on the highway, you’ll have significantly less than you would have targeting people driving out of a parking lot, for instance.
These are just some examples of the things that we consider when we’re designing and placing OOH media such as outdoor signs for our clients.
Striking the Balance Between Cost and Revenue
OOH advertising is a broad field consisting of every form of outdoor media used to promote a business. And although having dozens of mediums to choose from is certainly appreciated, it can make decisions longer and harder for the average small-medium-business business.
For instance, businesses not only have to consider the upfront design and installation costs but also make OOH-specific considerations such as footfall traffic, demographics, daily effective circulation, design (text needs to be different for different viewing distance and speed of vehicles), and more.
This is usually what turns many businesses away from the second-fastest growing advertising medium that is outdoor media but there is stil a way businesses can strike the right balance between cost and revenue without making things complicated – hiring experts.
Signs Broward Fort Lauderdale is a one-stop custom signs and graphics company in Broward, Fort Lauderdale. We specialize in high-quality custom indoor and outdoor signs, vehicle graphics, trade show displays, sign maintenance, and more for effective Out-of-Home (OOH) marketing.Back