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Industries in Puerto Rico

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Puerto Rico’s economy has had a long and dynamic history, especially as it relates to its status as a US territory. The island is known especially for the incredible beaches and storied sightseeing destinations. This makes tourism one of its most important economic sectors. However, there is a lot about the industries in Puerto Rico that you may not know.

Up until the mid-1900s, agriculture was the main industry supporting Puerto Rico’s economy. The island, which had limited mineral resources, was largely neglected by Spanish colonial rulers. However, San Juan became a major trade port in the Caribbean. In the decades that followed World War II, factories and manufacturing became very important to the Puerto Rican economy under American rule. This shift happened because of government-sponsored economic development and social welfare programs. These developments supported private business and updated Puerto Rico’s transportation infrastructure.

Now, however, Puerto Rico’s economy has shifted into a service economy, as manufacturing growth has slowed in the past few decades. The services sector, which includes things like trade, tourism, finance, and government work, has quickly become the leading industry in Puerto Rico. The services sector accounts for around half of Puerto Rico’s GDP and employs up to 75% of all workers on the island.

industries in puerto rico

Major Industries in Puerto Rico

Agriculture

The agriculture industry is still alive in Puerto Rico. However, it is nowhere near the most dominant industry. According to recent data, agriculture makes up less than 1% of Puerto Rico’s annual Gross Domestic Product (GDP).

Puerto Rico used to have a relatively large sugarcane production industry, but this has mostly ceased to exist. This is in large part due to government regulations on sugar companies in the US and its territories, as well as on producers abroad that import to the US. Puerto Rico does have a thriving rum production industry, but it imports most of the molasses necessary.

The three traditional farm products still produced in Puerto Rico are:

  • Coffee
  • Tobacco
  • Milk

However, due to its tropical climate, many farms also produce tropical fruits including mango, pineapple, and melon. Additionally, there are beef, pork, and poultry farms that serve both local and international markets.

Manufacturing

In 2010, the manufacturing sector made up 46.4% of Puerto Rico’s GDP. However, in the past decade, a few key changes have caused the closure of many Puerto Rican manufacturing plants. Firstly, global competition has increased. This has caused companies to look elsewhere to satisfy their growing demand. Additionally, the repeal of Section 936 ended a decades-long practice where US corporations had a tax exemption on income produced in US territories, including Puerto Rico.

Despite all this, Puerto Rico still has a relatively active manufacturing sector. Over half of the manufacturing industry relates to pharmaceutical production. Pharmaceuticals make up over half of Puerto Rico’s total exports. The pharmaceutical production industry in Puerto Rico is responsible for employing over 18,000 people. Chemical and chemical products, as well as computers and electronics, make up some other large parts of Puerto Rico’s manufacturing sector.

puerto rico economy

Service

The service industry is Puerto Rico’s fastest-growing industry, and it has most recently overtaken manufacturing as Puerto Rico’s primary industry in terms of GDP production.

The three branches of Puerto Rico’s service industry, described in further detail below, are finance and real estate, trade, and tourism.

Finance & Real Estate

Finance, real estate, and insurance produce up to 20% of Puerto Rico’s annual GDP. Puerto Rico benefits from having its financial system fully integrated with the mainland American system, meaning that many American banks, real estate firms, and insurance companies have offices in Puerto Rico. 

Trade

Trade accounts for about 10% of Puerto Rico’s annual GDP. Puerto Rico is included in the USA’s customs system, and the USA is Puerto Rico’s largest trading partner. The island’s key exports are pharmaceuticals, chemicals and chemical products, and computers and electronics. Puerto Rico also has significant trade agreements with Singapore, Japan, Brazil, and the European Union.

Tourism

Tourist interest in Puerto Rico has continued to grow year after year. Tourists from both the mainland United States and from international destinations continue to be drawn to Puerto Rico’s stunning natural beauty, rich history and culture, and gorgeous tropical weather. In addition, many Caribbean cruises include San Juan as a stop. It is estimated that upwards of 5 million visitors stay at a hotel in Puerto Rico every year, with larger numbers of cruise ship passengers visiting annually as well. Tourism supplies an estimate of over $5.5 billion to the Puerto Rican economy every year.

puerto rico industries

Outlook: Which Industries in Puerto Rico are Poised for Growth?

The service industry in Puerto Rico is the most obvious for continuous future growth. Tourism interest will only continue to grow. Additionally, experts project growth in real estate and financial services for the foreseeable future as well. 

Additionally, entrepreneurship is another area with potential for growth. Entrepreneurship is currently is still at the beginning of its growth in Puerto Rico. Nevertheless, many organizations focused on growing small businesses have begun to establish a presence on the island. The Puerto Rican government also has many programs that allow aspiring entrepreneurs to access funding. 

A key factor that many companies tend to overlook is the importance of advertising. Advertising can help convey a brand’s image and desire to new and current consumers. This in turn helps to drive sales and foster brand loyalty. It’s extremely important to understand the local culture of the city, state, town, country, or territory that you hope to advertise in, and there’s no better way to do that than by working with a local advertising group.

How bMedia Can Help

No matter what industry your business operates in, bMedia’s experienced team can help you reach new customers across Puerto Rico. bMedia is Puerto Rico’s leader in outdoor advertising, with over 300 high-impact locations to choose from. Moreover, bMedia’s billboards statistically have the highest consumer traffic in Puerto Rico. bMedia leverages cutting-edge technology and industry-specific leading practices to ensure that your advertisement will be seen and noticed by the right customers. Feel free to contact us with any inquiries you have. 

Business Opportunities in Puerto Rico

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Puerto Rico has become a growing market for American businesses. In recent decades, technology has allowed for quicker trade and travel to and from the island. The beautiful Caribbean island draws tourists from around the world for its beautiful beaches and vibrant culture. In 2019 alone, tourism in Puerto Rico generated over five and a half billion US dollars. Thus, it’s no surprise that business opportunities in Puerto Rico have been on the rise.

Puerto Rico is a protected American territory, which means that American businesses are more easily able to develop there rather than go to other countries. Real estate is relatively cheap, corporate tax rates are low, and wage costs are lower compared to the mainland. The recent enactment of Act 20 and Act 22 also provides 100% tax exemption on capital gains, interests and dividends earned.

The island offers some great opportunities for businesses across different sectors, and its proximity to the American mainland makes importing and exporting more efficient than running a business anywhere else in the Caribbean.

Puerto Rico’s Economy

Puerto Rico’s economy is dominated by industry and manufacturing, followed closely by the services sector. The manufacturing sector, which mainly produces drugs, electronics and petrochemicals, accounts for about 50% of the island’s GDP (gross domestic product). Tourism, finance and trade dominate the services sector. Puerto Rico has limited natural resources, but continues to produce agricultural products. Its agriculture sector – making up roughly 0.7% of Puerto Rico’s GDP — produces sugar cane, coffee, pineapple and more.

Next, we will discuss how businesses in Puerto Rico can take advantage of its growing and lively economy.

downtown businesses in puerto rico

Benefits of OOH in Puerto Rico

Billboards and OOH (Out-of-Home) Advertising is one of the best ways to promote your business. This is especially true in Puerto Rico. Not only are locals moving around and about, but the tourists, ready to spend some cash, love the island and flock to it year after year.

OOH advertising is crucial in Puerto Rico especially considering how many outdoor activities that visitors can enjoy. Whether people are sightseeing, lounging on one of many Puerto Rico’s many pristine beaches, or enjoying the lush nature in the area, people are sure to see outdoor advertising.

You can expect high engagement from effective billboard advertising in cities like San Juan, Ponce, Bayamon and Carolina because of the high foot and vehicle traffic in these areas. Here are other reasons why OOH advertising is so effective in Puerto Rico.

Continuous Innovation

Billboards are thought to be traditional, and they are. However, they’re also evolving with the times. Billboards can certainly help you capitalize on business opportunities in Puerto Rico.

“Billboards have adapted to the times and are still one of the most popular ways to advertise.” -Eric Hamilton, Tech Times

Digitized billboards are everywhere these days. Times Square billboards in New York City are a perfect example, and there’s a reason why consumers are so captivated by them. Digital billboards have revolutionized OOH advertising. Unlike static billboards, digital billboards can offer multiple design options and even showcase multiple ads on one ad space.

Smart billboards are also on the rise as a dynamic form of digital billboards. Smart billboards use advanced technologies that allow those who encounter them to engage and interact with the advertisement. Technologies that are implemented on smart billboards include sensors, geotargeting, facial recognition and other interactive features.

growing your business in puerto rico

Urbanization and Traffic

Urbanization continues to expand all over the world, and Puerto Rico is no exception. Puerto Rico’s population is almost 3.2 million. On top of that, people are more mobile than ever. It only makes sense for businesses to place ads where the people will be.

In Puerto Rico, the high density of vehicle and foot traffic exposes a large number of the population to billboard advertising. The island’s elaborate highway system increases vehicle traffic even further, offering many placement opportunities for OOH advertising.

High Return On Investment (ROI)

Capitalizing on billboard advertising will help you get the most out of your brand’s advertising budget. Since billboards tend to be located in busy areas, they gather a large number of views and reactions, resulting in a higher return on investment (ROI). The placement of your billboard is just as important as what it looks like. Desirable locations will be more expensive than locations where there is not as much traffic.

Billboard advertising also gives you full control of the ad space, and your ad will always have constant exposure, 24/7. Other forms of advertisement such as TV and radio ads can be costly and won’t reach an audience as large as a billboard would. This makes billboards one of the most cost-effective methods of advertising, as they have a wide reach and are proven to increase brand recognition.

Brand Recognition

Billboards are effective in increasing brand recognition. Billboard advertising is one of the oldest forms of advertising. However, it continues to evolve and remain effective in reaching and captivating an audience. Billboards target a wide demographic in a single advertising tactic. By properly placing an effective ad, businesses have the opportunity to capture any and all potential buyers..

Additionally, there are high chances that people who encounter your OOH advertisement will encounter it more than once, allowing them to remember your brand or product, and even engage with it. Billboards are large and good at capturing the attention of people passing or driving by. Make sure that your billboard is designed with the customer in mind to increase your brand recognition.

business opportunities in puerto rico

Expert Advice at bMedia Group

Both traditional and digital forms of billboard advertising have proven to be one of the most effective and withstanding marketing strategies of all time. At bMedia, our seasoned and well-trained team will help your business get the most out of your OOH advertisement.

With proper insights and strategies, bMedia can help your business set foot in Puerto Rico. bMedia can help to expose your brand to a continuously growing and lucrative market. Contact bMedia Group and we’ll help you maximize your marketing strategy on the island.

Capitalizing on billboard space is capitalizing on business opportunities in Puerto Rico.

Times Square Billboard Cost

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Advertising is so much more than just the act of getting your product out in front of your customers’ eyes – it’s an art that balances psychology, sociology, and style. It’s not only about promoting a product or service on a surface level. Your advertising also communicates your values as a business to whoever sees it. The decisions you make with regards to your advertising speak to who you are as a company.

Endless attempts have been made to create effective outdoor advertising that stands out among the rest. These types of media are made specifically for the place and time they are produced in. But what about those advertisements that simply wow with size and spectacle? That’s right, we’re talking about the biggest and most expensive billboard ever — but which billboard, exactly, is the ‘most expensive?’ We’ll talk about a relatively new, massive Times Square billboard cost as compared to the cost of one in Dubai that will blow your mind. Read on to find out more!

Traditional Billboards vs. Digital Billboards

When deciding what kind of OOH advertising methods you will choose to spend your money on, it is important to compare different mediums. Traditional billboards and digital billboards may seem similar, but they differ greatly in terms of cost, as well as in their pros and cons.

digital billboard cost

Traditional Billboards

Billboards are probably one of the first things that comes to mind when you think of out-of-home advertising. Traditional billboards are placed virtually everywhere where people might see them and where they are allowed. Consider how many billboards you see any time you drive on a highway or busy road!

The cost of a traditional billboard will depend greatly on its location, with billboards in rural areas being far less expensive than those in urban areas. That said, it’s important to consider the type of audience you are trying to reach with your advertising when deciding on a location. Traditional billboards are cheaper compared to digital billboards and are effective in reaching a large audience using a very simple message. Because traditional billboards use static images and text, they may not be as effective as digital billboards in grabbing consumers’ attention.

Traditional billboards:

  • Cost less
  • Capture a large audience
  • Have a relatively low cost per impression

Digital Billboards

While traditional billboards have been around for ages, digital billboards are now becoming more popular as technology advances. Digital billboard space is now more accessible than ever. Obviously, digital billboards are going to be more expensive to advertise with than traditional, static-image billboards. Digital billboards can be astronomically expensive in urban and high-traffic areas.

There are some benefits to using digital billboards, though. You can use the space to display video ads or different versions of one ad. Also, you don’t have to pay for your ad to be showing 24/7. Oftentimes, digital billboards will display different ads from different companies throughout the day. You can work out what times you want your ad to be showing to create the most cost-effective strategy.

It’s also normally a quicker and easier process to get your ad up on a digital billboard. Plus, digital billboards timing features allow for more cost-effective targeting. The dynamic, changing nature of digital billboards can also make them more effective than traditional static billboards.

Digital billboards:

  • Are dynamic and may be more effective
  • Allow for more specific targeting
  • Have shorter campaign durations

The Most Expensive Billboard

When we talk about the most expensive billboard in the world, there is a little bit of confusion about whether or not the prize will be taken by North America, or by the increasingly eminent Dubai, long considered a bastion of wealth and opulence in the Middle East. Both locations are known for over-the-top, flashy advertising that is meant to grab the attention of everyone passing by. For as far as the plain facts are considered, though, the most expensive billboard is one that went up in Times Square in the late part of 2014.

times square billboard cost

This Times Square billboard, recently unveiled in the heart of one of the busiest areas of New York City, is longer than a football field. It boasts an unreal 24 million pixel display to embolden the next generation of high-definition advertising. You can see the display dwarfing the crowds below.

Times Square Billboard Cost

So, what does this expensive billboard cost the advertisers of the world to use? A whopping 625k/week. Or, in other words, roughly ~$100,000 a day. The billboard is rented in 4-week periods, meaning that companies will be dropping about $2.5 million for a 4-week advertisement. While this price is pretty much unprecedented, the area sees hundreds of thousands of people a day – people who are likely to notice the gargantuan display that illuminates the marquee above them. For many advertisers, this is a worthwhile investment to make.

While this billboard is one of the largest and definitely the most expensive, it is not the largest in the world. It’s not even the tallest! The distinction of tallest belongs to another Times Square billboard, the uber-iconic vertical one at One Times Square. Meanwhile, the largest billboard in the world is in Saudi Arabia which is the length of almost three football fields!

A Possible Competitor

This Times Square billboard cost may be the highest world with its weekly rate of $625,000, but there is one billboard that has a higher cost in terms of potential. This billboard is none other than the Skydive Dubai billboard that debuted in front of the Burj Khalifa back in 2012, in conjunction with Denver-based Go Fast Sports. Sure, it’s in a prime location… But how does it manage to risk a cost higher than $625k?

The answer lies in the peculiar and creative nature of its presentation. While the billboard is relatively standard, it debuted with a display from a Go Fast jetpack rider – no doubt due to the ties that Go Fast Sports has to the Jetpack International. Since the advertisement debuted with the jetpack rider as a key part of its presentation, it can be considered to be something of a part of the ad itself. See a demonstration in the video here.

cost of billboards

The Times Square billboard cost pales in comparison to this spectacle.

It is estimated that for this billboard to operate at full capacity (that is to say, with a jetpack rider circling it) it would cost a completely unreal $1.3 billion a month to operate. For clarity, that’s operating 24/7, for a whole month. Even still, you might be wondering, how is it so expensive? The answer is that jet-packing is still an incredibly expensive hobby, taking an estimated $500 a second. Until we see those costs drop, this will be without a doubt the most (potentially) expensive billboard in the world.

Reflections On the Two

So here we’ve looked at the two most expensive billboards in the world. One is a massive screen in a key center of the city. Meanwhile, one is in an even more opulent location but requiring an unsustainable display to make the most of itself. They are certainly two different ways to spend, but which one is ‘better?’

Without a doubt, the Times Square billboard is the safer investment. It has a hefty cost, but a great location with a fantastic display. The things that make the Dubai billboard so expensive mostly come down to novelty. While worthy of conversation, these tactics are not a sustainable way to invest in your business. So if you see billboards out in the wild that echo these two, take the option that is the most stable! After all, there is a reason that brands like Google have already sought to place multi-month displays on a display like the one in Times Square.

That being said, it’s important to determine what kind of billboard will be most effective for your advertising strategy. If cost is no issue, or you think your ROI will be worth the higher cost, then a digital billboard in a high-traffic area might be the right choice for your business. If you want to save money and target people in less-populated areas, then a traditional static billboard in a rural area will be well worth your money. The great thing about coming up with your most cost-effective strategy is that there are so many different options to choose from.

Money Better Spent in Puerto Rico

While Times Square is certainly a great spot to advertise if you’ve got the money, advertising elsewhere is probably going to be the better investment. Take somewhere like Puerto Rico, for example. You’re obviously going to have a lower cost and still get lots of eyes on your ad. Tourism is one of Puerto Rico’s leading industries. In 2019 alone, 2.27 million international tourists traveled to Puerto Rico. Additionally, the pedestrian and vehicle traffic is high in density all across Puerto Rico, making billboards a very effective advertising method.

How bMedia Can Help

bMedia specialists in Puerto Rico can help you make the most of your investment in billboard advertising. bMedia will help you find the best location, craft the most effective message, and get more business for your brand. bMedia has extensive experience advertising in Puerto Rico and will be sure to help your business make the most of its advertising budget.

Speak with an outside advertising specialist today to create the most effective billboard strategy. For more information, contact bMedia group: experts in advertising in Puerto Rico.

Billboards en Puerto Rico

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Puerto Rico ofrece más que un destino turístico. Hay muchos beneficios, especialmente para los ciudadanos y las empresas de los Estados Unidos.

Entre el costo de vida, las tasas impositivas y otros incentivos, hay muchas buenas razones para tener billboards en Puerto Rico.

puerto rico cityscape

¿Por Qué Puerto Rico es un Buen Lugar Para la Publicidad en Vallas Publicatarias?

Existe un gran mercado potencial para sus bienes y servicios. La ubicación del noreste del Caribe de Puerto Rico atrae a los viajeros a la isla. Sus playas de arena y su clima tropical durante todo el año lo convierten en un destino atractivo. Con pocas tormentas y temperaturas agradables durante todo el año, Puerto Rico está cerca de la parte continental de los Estados Unidos de América, América Central y América del Sur.

Los turistas regresan para disfrutar de las excursiones, las actividades de la selva tropical de la región, las cuevas y los activos clubes nocturnos y bares caribeños.

El turismo genera miles de millones de dólares en ingresos anuales. En 2010, más de diez millones de personas volaron a los aeropuertos de Puerto Rico. Aquellos que visitan gastan dinero para apoyar los muchos negocios estadounidenses de la isla.

Para 2019, el consumo turístico había generado más de cinco mil quinientos millones de dólares estadounidenses en Puerto Rico.

Viajeros de todo el mundo vienen a experimentar la selva tropical única de Puerto Rico, las numerosas actividades turísticas, las cuevas, las excursiones y la activa vida nocturna caribeña. El clima tropical, los alimentos locales y las compras y actividades orientadas al turismo lo convierten en un atractivo turístico natural. Mientras están allí, los turistas disfrutan de los bajos impuestos a las ventas que ofrece la economía de Puerto Rico.

Puerto Rico es un territorio protegido de los Estados Unidos. Por lo tanto, ofrece atractivos incentivos a las corporaciones estadounidenses. Estos beneficios los animan a ubicar un negocio en Puerto Rico. La mayoría de los demás países del Caribe no brindan este estímulo financiero.

Puerto Rico también ofrece a las empresas importaciones libres de impuestos. Los impuestos a la propiedad son bajos. Los bienes raíces son relativamente baratos y las tasas de impuestos corporativos son atractivas. Además, durante su primer año de hacer negocios en Puerto Rico, tanto los impuestos sobre bienes raíces como sobre la propiedad personal están exentos. Esto anima a las empresas a establecer sus empresas allí. otros incentivos se proponen para los estatutos 20 y 22. Estos proporcionan ahorros notables para los estadounidenses que se trasladan a Puerto Rico.

La educación superior es muy barata en Puerto Rico. En consecuencia, muchos de los residentes de la isla tienen títulos universitarios. Al establecer una empresa, American puede contratar empleados bien educados. A pesar de que la fuerza laboral tiene un alto nivel de educación, la tarifa por hora sigue estando por debajo de los estándares de la parte continental de Estados Unidos.

Ansiosa por que los empresarios se trasladen a Puerto Rico, la isla ofrece algunas oportunidades interesantes.

Sus muchas cualidades atractivas hacen de Puerto Rico un lugar ideal para que las empresas lancen nuevos productos y servicios. Los visitantes conocen bien las marcas establecidas y están ansiosos por gastar su dinero en estas marcas que son una parte tan importante de la cultura estadounidense.

puerto rico birds eye view

Desafíos de Tener Billboards en Puerto Rico

Si bien hay muchas ventajas a considerar al iniciar un negocio en Puerto Rico, también existen algunos problemas potenciales.

La economía de Puerto Rico no es tan estable como antes. La isla está sumida en la incertidumbre económica. Continúa reconstruyéndose.

Los impuestos han aumentado. Esto puede ser catastrófico para las pequeñas y medianas empresas.

En julio pasado, el impuesto sobre las ventas de Puerto Rico se incrementó de siete a once y medio por ciento en un esfuerzo por aumentar los ingresos de Puerto Rico. Esto ha hecho que las compras turísticas no sean tan atractivas. Como resultado, el gasto turístico se ha reducido significativamente.

CNBC también señala que el costo de vida en Puerto Rico ha aumentado considerablemente. Los empleados ahora exigen salarios más altos para llegar a fin de mes.

La mano de obra de Puerto Rico no es el negocio que alguna vez fue. Ahora está sujeto a las mismas leyes federales de salario mínimo que Estados Unidos continental. Por lo tanto, la mano de obra ha aumentado en la mayoría de las demás islas del Caribe.

Por Qué las Billboards Son Efectivas en Puerto Rico

Tanto en formato tradicional como digital, la publicidad en vallas publicitarias ha sido muy efectiva en Puerto Rico.

Las vallas publicitarias son tan atractivas en esta isla paradisíaca debido a la alta densidad de tráfico de vehículos y peatones.

Puerto Rico tiene un nuevo y sofisticado sistema de carreteras. La isla también tiene un amor por los autos no muy diferente a la parte continental de EE. UU.

La densidad del tráfico en las carreteras de Puerto Rico es de casi 750 autos por cada mil habitantes. No es de extrañar que las empresas, grandes y pequeñas, hagan uso de la publicidad exterior. Estas vallas publicitarias son vistas por miles de lugareños y turistas todos los días.

En una encuesta, uno de cada cuatro viajeros puertorriqueños dijo que estaba motivado para visitar un negocio el día que vio su cartelera.

Cuando se trata de publicidad exterior, Puerto Rico es un imán natural del Caribe. Es el hogar de grandes anunciantes como Coca-Cola, Wal-Mart, Sears y Macy ‘s. Además, cadenas hoteleras como Hilton, Marriott y Holiday Inn utilizan vallas publicitarias para atraer la atención tanto de los lugareños como de los turistas.

Imagínese a miles de turistas tomando el sol durante todo el año en las playas de Puerto Rico. Son un mercado listo para cadenas minoristas internacionales, compañías farmacéuticas, restaurantes e instalaciones para la vida nocturna.

Las vallas publicitarias son una forma eficaz de aumentar el reconocimiento de la marca, lanzar un nuevo producto o destacar un evento especial.

billboards en puerto rico

Desafíos de la Publicidad en Vallas Publicitarias

Al igual que en el sector inmobiliario, el éxito de las billboards depende de la ubicación.

Si su empresa no hace su investigación de antemano, puede colocar una valla publicitaria donde su mercado objetivo no la verá.

La ubicación es fundamental para el éxito de la publicidad exterior.

El mensaje debe verse y leerse en los pocos segundos que lleva pasar por su valla publicitaria. Entonces, lo que tienes que decir debe ser atractivo, atractivo y memorable.

Los gráficos y el diseño de su valla publicitaria deben reflejar la imagen de su marca. Debe ser lo suficientemente único como para proporcionar un reconocimiento de marca duradero.

En la publicidad exterior, el color, el tamaño y los efectos especiales hacen que una valla publicitaria sea eficaz.

Si bien las vallas publicitarias son una forma relativamente económica de publicitar, aún debe considerar cómo aprovechar al máximo el dinero publicitario de su marca.

¿Por Qué Contratar a un Especialista?

Un especialista en billboards exterior puede enviar un mensaje eficaz a su mercado objetivo. Los especialistas en medios capacitados son expertos en encontrar la mejor ubicación. Saben cómo crear un mensaje que sea memorable y que se pueda interiorizar en el poco tiempo que lleva pasar por la valla publicitaria. Los especialistas en medios ofrecen un medio publicitario que genera reconocimiento de marca, claridad de marca y alienta a los espectadores a convertirse en consumidores.

Hable con un especialista en billboards exterior sobre cómo hacer el uso más eficaz de su dinero publicitario. Para obtener más información sobre cómo hacer que su presupuesto publicitario sea más efectivo, comuníquese con bMedia Group. bMedia somos expertos en billboards en Puerto Rico.

Where Should I Advertise My Business?

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It’s a common problem among young entrepreneurs. You’ve got this great product/service, everyone should be using it – but you just can’t seem to get the word out there. However, you’re probably wondering, “where should I advertise my business?”

Don’t worry, you’re not alone. There’s no shortage of small businesses that have trouble staying afloat because they’re not advertising – or at least not advertising correctly.

where to advertise

Where Should I Advertise My Business?

Advertising is a huge part of running a successful business. Think of McDonald’s – how many advertisements would you say you see a day? Five? Ten?

McDonald’s – and other large, successful businesses – invest so much into advertising for a reason: it works. If it didn’t, that’s not where they would spend their money.

In fact, Statista reported that in 2019 over 240 billion dollars were spent on advertising in the United States. The previous year roughly 223 billion dollars were spent. The United States commands the largest advertising expense and revenue in the world.

But even if your budget is smaller and your company isn’t some giant conglomeration, you still need to be advertising. If no one knows your product exists, it will be hard to sell.

If you’re a smart entrepreneur, you already knew this and are working on advertising your business. Learning about how advertising works best is a great start. You can also contact trusted professionals like bMedia Group to help get started on your advertising campaign.

How, where, and through which medium you advertise will all have a giant effect on sales.

Though each type of advertising has its pros and cons, there are many forms of advertising you might want to consider, as well as location.

Let’s start with types of advertising mediums.

Types of Advertising Media

There is a large collection of ways to advertise your product – the hard part is picking the right ones. Read through this list and think about which will work best for your business.

Broadcast Advertising

By far the most easily recognizable, broadcasted advertisements reach a humungous audience. If you’ve got a TV, you’re aware of the number of commercials. Statista reported that 69.6 billion dollars were spent on television ads in North America in 2019. The number dropped slightly in 2020 due to the pandemic.

Another form of broadcast advertising is through radio ads. Though the times of the radio being the main source of entertainment and information are long gone, radio ads still have their place in the advertising world. Radio ad spending is expected to pass 18 billion dollars by 2023.

Depending on the audience you want and the product you have, broadcast advertising can be a great way to advertise – but there are some downsides.

Television commercials are generally short and often require the complete attention of the viewer. It’s also quite costly when compared to other advertising mediums and runs the risk of being too repetitive.

As for radio advertisements, the issue is that fewer and fewer people are listening to the radio.

Reasons for this include the multitude of audio options in modern vehicles, music streaming services, podcasts, and – you guessed it – the number of advertisements on radio stations.

print advertisingPrint Advertising

One of the oldest forms of advertisements, print advertising has been an option for entrepreneurs for centuries. In fact, one of the first print advertisements can be dated back to 1477.

The print ads back then were certainly different than what we have now – generally speaking, print advertisements are those in newspapers and magazines. Other examples include flyers and brochures.

Print advertisements have been the most popular form of advertising for some time – though that trend seems to be changing. Still, though, print ads have their place.

For example, ads in the local paper can really help drive local business. Conversely, advertisements of your product in a magazine with a specific target audience can help drive business as well.

The main issue in advertising through print is this – fewer people are reading the printed word.

Through advancements in technology, newspaper and magazine subscriptions have been in a steady decline, and it doesn’t seem as though that will change.

Online Advertising

This type of advertising has just recently exploded. As the Internet is now integral in the lives of most citizens, businesses and advertising agencies have seen the market for online ads. There are several different types of online ads, including:

  •         Banner advertisements
  •         E-mail marketing
  •         Social media ads
  •         Playable video advertisements

These are just some examples of online advertising.

The pros – it’s relatively cheap and very easy to track.

The cons – some people fear sharing their data on the Internet and people have become less susceptible to online ads. 

Online advertising is a market that will continue to grow exponentially as new technological advancements come into play.

where should I advertise my business

Outdoor Advertising

Outdoor advertisements are all around us. You’ll find them on bus stops, cabs, and – most notably – billboards.

The budget for outdoor advertising reached over 39 billion dollars worldwide in 2019. Though there are some that worry about the decline of out-of-home (OOH) advertisements, their efficacy still remains.

Outdoor ads are on 24/7. They are always working, always seen, help create a captive audience. They can’t be turned off by the consumer.

The Outdoor Advertising Association of America reported that people spend nearly 70 percent of their day away from home. This makes outdoor advertising a great way to reach people where other ads won’t.

Take a look at some of the pros of advertising on a billboard:

  •         OOH advertising is generally cheaper than other forms.
  •         Billboards help drive local business – the location of the billboard is key.
  •         Consumers can’t turn off a billboard as they can a television or radio.
  •         Billboards don’t need any other form of action – the consumer doesn’t have to watch television or buy a magazine – the ad is always there.
  •         The Return-On-Investment (ROI) is generally very high for billboard advertisements.

OOH advertising is a great way to showcase your business. It allows for creativity in the message, location, and appearance.

Why Should I Advertise In Puerto Rico?

For those who don’t know, Puerto Rico is an unincorporated territory of the United States.

It’s a great market to introduce your product where others likely aren’t.

There are over three million citizens living in Puerto Rico, so the market is there. With a smart, successful advertising campaign, a business could have the lion’s share of sales in Puerto Rico.

Contact bMedia group to get started on your new advertising campaign.

Best Super Bowl Advertisements

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They are, on average, thirty seconds long. But every year, companies vie for those coveted spots. Over time, the cost of a Super Bowl advertisement has skyrocketed.

In 2018, businesses paid $5 million for a thirty-second ad. In 2020, AdAge.com pegged the cost of a single Super Bowl ad at $5.6 million.

Why are they prepared to shell out this money? Over a hundred and eleven million Americans watched the big game in 2018. The year was not unique. The Super Bowl represents 19 of the 20 most-watched TV broadcasts in American viewing history.

best super bowl advertisements

Do Super Bowl viewers even watch the ads?

Although DVR has made it possible to flash by ads, most fans watch the Super Bowl live. With live TV, most game watchers use commercial breaks to load up on Super Bowl snacks. However, according to an SI Wire survey almost 18% tune in to the glitzy advertisements.

It’s also been proven that Super Bowl commercials are viewed and shared via YouTube for quite some time after the actual game.

Super Bowl ads are a unique form of entertainment.

While most businesses cannot afford Super Bowl ads, they can learn valuable marketing lessons from the best super bowl advertisements.

What Makes the Best Super Bowl Advertisements?

According to Dan Grange of the Los Angeles ad agency Oxford Road’s seventy-one-measurement scoring system, several components must be assessed. These include things like:

  • Commercial set-up
  • Theme
  • Moral
  • Proposition
  • Intent
  • Positioning
  • Execution.

Forbes magazine notes Super Bowl broadcasting is the time when businesses get the most extensive viewership. Compare other highly-watched events like game seven of the World Series where commercials cost half a million and the 2016 Oscars where advertisements could be bought for $2 million.

A cardinal rule of a Super Bowl ad is that it convinces viewers to buy their product or increases brand recognition. Other traits that make an ad effective are its entertainment value and its likeability.

The Most Memorable Super Bowl Ads

In 2011, Chrysler paid $12.4 million for an advertisement that saw famed rapper Eminem driving a Chrysler 200 around Detroit. This ad is the most expensive in Super Bowl history. However, it increased the brand of the automobile manufacturer and the city of Detroit. Car sales grew by half and the Motor City became a renewed tourist destination.

Other memorable ads include Budweiser’s “Joust” commercial featuring Bud Knight and his medieval royal subjects who shout, “Dilly Dilly” when offered beer.

Microsoft’s “We All Win” highlights the story of their efforts to help mobility challenged individuals by launching an adaptive video game controller. The ad that shows the challenged children using Microsoft’s new adaptive video game controller gets high marks for both emotion and civic responsibility. The ad encourages clients to buy from a company that proves it cares about its customers.

Awards go to the Tide ad of 2018. The storyline has nothing to do with the detergent. However, the actors sport very clean clothes. At the end of the plot, the voice-over says, “It’s just another Tide Ad.”

Newcastle, a popular beer, launched a call to encourage brands to pool resources for one big ad. It tells the tale of a couple celebrating their new home with Newcastle beer. Their walk through the new house features other brand logos among paintings and family photos. Featured in their unpacking are appliances and entertainment devices.

The 2010 ad, “Keep Your Hands off My Doritos” tells the funny story of a narcissistic man meeting his new girlfriend’s son. The kid warns his mother’s suitor: “Keep your hands off of my momma. Keep your hands off of my Doritos!” The ad is hilarious and relatable. The catchphrase is repeatable.

In 1999, Budweiser’s award-winning commercial focuses on a man answering the phone while watching a big game. His friend asks, “Wassup?” The man responds, “Nothing. Just watchin’ the game and drinkin’ a Bud.” The man’s roommate walks in and yells, “WASSSSUPPPPP?” The phrase echoed among game-watching beer drinkers for a decade.

Pepsi’s 1996 commercial to the tune of Hank Williams’ “Your Cheatin’ Heart” depicts a Coke delivery guy helping himself to a Pepsi. The moral: Even Coca-Cola employees love Pepsi.

Apple’s 1984 ad pays tribute to Orwell’s 1984. Men are marching in straight lines. On a giant screen, the leader tells them, “We are one people, with one whim, one resolve, and one cause.” A woman wearing bright clothing and wielding a hammer explodes the screen. The ad concludes with an announcement of the Macintosh computer. The ad is a tip of the hat to Apple’s innovative ideas.

Apple’s ability to think outside the box is mirrored in Volvo’s 2015 Super Bowl ad that one-upped its competitor by giving away a car.

One of our all-time favorites is Coca Cola’s 1971 ad that features Italian hills as the backdrop of the young adults from several countries singing, “I’d Like to Buy the World a Coke.” The ad demonstrated the relatability of millions of people around the globe who enjoy Coca-Cola. The ad embraces both diversity and world peace.

Slated to be a crowd-pleaser in the 2021 Super Bowl, the Doritos ad features Old Town Road rapper Lil Nas X.

super bowl commercials

How Can Your Company Create a Memorable Advertisement?

If you check out the best Super Bowl advertisements through the decades, you will discover that they have some common features.

These advertisements tug at your heartstrings. They leave you feeling happy, sad, proud, optimistic, or hopeful. Their storylines build a lasting emotion. They make you laugh or cry. They create nostalgia.

Some of the most memorable ads acknowledged popular literature, music, or culture. Their story weaves through the life and times of America. Using the most effective technology available at the time, memorable ads help viewers relate to what is going on in the world around them.

The ads with the most appeal are ones to which viewers can relate. People celebrate family occasions. Children conquer a handicap. A boy protects his mom. People reach out to their aging relatives. Viewers know what it feels like to walk in their shoes.

We can’t all afford multimillion-dollar ads.

However, the best Super Bowl advertisements have valuable lessons.

Whether you choose to build brand recognition through TV ads, radio spots, magazine ads, or outdoor advertising, you can learn effective marketing strategies from Super Bowl ads.  

Measuring Billboard Effectiveness

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Depending on whom you ask, billboards conjure different images. Let’s agree for the purpose of this article that, when we talk about billboards, we are referring to those large outdoor structures we normally see along the interstate.

Of course, this definition is a little simplistic. Billboards come in all shapes and sizes. They are not just along well-traveled roadsides. We see them in city downtown areas. You will find billboards anywhere billboard manufacturers expect them to earn money for the advertiser and hence the creator.

The term billboard comes from the “billing board”. This term refers to the outdoor advertising space of gigantic proportions. Billboards are huge because their aim is to catch the eye of passing walkers, cyclists, and vehicle drivers. They are intended to be read in their entirety in the time it takes a pedestrian, biker, or driver to pass by the sign.

does outdoor advertising work

Measuring Billboard Effectiveness

According to writer, Apryl Duncan, Americans are deluged with visual stimulation. She estimates that, on average, Americans are bombarded with between four thousand and ten thousand ads every day.

To be effective, billboards need to stand out from their competitors. While billboards have a captive audience as people walk, run, bike, or drive by, they must be large, striking, and easy to read. Otherwise, their potential audience will simply ignore them. Measuring billboard effectiveness is important to every outdoor media campaign. Billboard companies should provide statistics and specific data as it applies to:

Location

Outdoor media is unique in that it is one of few advertising mediums that is not as dynamic. Where internet ads can change frequently and within a short time span, billboard generally change less often, but are sometimes more effective. How is this? Measuring billboard effectiveness always begins with evaluating location of potential billboard placement. This is usually done by considering factors such as:

  • Number of people or vehicles that pass a billboard per day
  • Number of people or vehicles that could see your billboard per day
  • People or vehicles who actually saw/interacted with your billboard

effectiveness of outdoor media

Measuring Traffic for Billboard Effectiveness

It’s crucial to know the traffic surrounding the location of a billboard in order to better measure traffic for billboard effectiveness. For one, you should try to find an ideal location that gets a lot of traffic, although these areas can usually be priced much higher than other lower trafficked areas. Measuring traffic is usually done through a variety of methods including government data, census, road traffic counts, and even manually logging travel data day-to-day. These numbers will help you determine if a location is an ideal placement for your business, brand, or service.

Analytics

If there’s a brand name, slogan, or catchphrase — that is used unique to your business — you could use analytics data scraping methods to analyze how often those terms, phrases, or words are typed into search engines. Similar to how businesses would execute keyword research, the same method could be applied in measuring billboard effectiveness. The more search hits a phrase gets could provide insight into how often people are viewing and taking action with an outdoor ad.

Hashtags

Hashtags are more widely used these days and provide ample opportunity to getting potential customers on board with a message displayed on outdoor media. Utilizing hashtags can help companies better evaluate the effectiveness of the billboard advertisement.

sales increases from outdoor advertising

Sales Analytics

There’s usually a direct correlation between sales and outdoor ads. It’s important you notate benchmarks in reports for sales, or general profits and determine if a new billboard ad is bringing in more customers or not.

Billboard Audience Impact

Billboards aren’t technically outstanding. Some have moving parts. Most appeal only to your vision. However, billboards have a captive audience. Think of those hours you spend in your car, bus, GO train. or other commuter vehicles.

The daily commute is literally the longest idle time in the busy schedule of North Americans. No matter how you get to and from work, while you make that trek, you are a captive audience. Companies aiming at getting their brand known and advertising agencies intend upon helping clients achieve their goals recognize the power of billboards as a vehicle. They take good advantage of the opportunity to bombard foot and vehicle traffic with powerful visual images strategically located.

Billboard advertising is effective in our busy world. It’s a way to get the highest number of views and lasting brand impressions of any advertising medium.

measuring outdoor ad effectiveness

Billboard Advertising Goals

Billboards aren’t like other types of ads. Researchers have discovered that the average viewing time is four seconds.

So, billboards are aimed at building brand recognition or reinforcing a brand recall. Billboards aren’t there to inform, educate, or persuade. Basically, they are saying, “See me!” or “Remember me!”

How is Billboard Effectiveness Measured?

When it comes to measuring billboard effectiveness, there are several considerations.

First, let’s consider the return on your investment. How much does the billboard cost? How much revenue does it bring in? When we consider ROI, billboards have a proven record of being worth the time and investment.

Billboards are part of the landscape. They are practically everywhere you go whether you’re traveling on foot, on a bike, in a car, on a bus, or in a train. It’s little wonder that advertisers continue to pump money into this form of advertising.

Static advertising forms like magazines, flyers, direct mailing, email ads, and newspapers can be discarded with hardly a glance. But, billboards are in your face.

Thanks to modern technology, any professional outdoor advertising agency can provide its clients with hard data to show that their billboards are paying off. They can measure the foot and vehicular traffic at any time of the day, day of the week or month of the year.

Professional outdoor advertising companies can predict the demographic most likely to view and respond to your billboard. The effectiveness of billboards is measured in Daily Effective Circulations or DEC. This refers to the number of vehicles and pedestrians passing your billboard each day.

creative outdoor marketing ideas

What Makes a Billboard Ad Stand Out?

Despite their size, billboards need to stand out from the visuals that surround them. That’s a tall order. Outdoor advertising companies use creative designs, eye-catching materials, catchy slogans, and special effects to make their billboards memorable.

How do they do this? To answer that question, let’s look at billboards that have stood out in advertising history. Remember, the ultimate goal of billboards is brand recognition and brand recall.

Consider these billboards that made their product a household name.

Are You in the Market for Effective Billboard Advertising?

Professional Outdoor Advertising Experts have the knowledge to create attention-getting billboards. They know where to place them to build brand recognition with your niche market.

These professionals also have the tools to measure viewer reactions and to help clients make adjustments for maximum return on investment.

Learn more about how we can help you get the most from your advertising dollar. Contact us to discuss billboard advertising in Puerto Rico.

What to Expect from Billboard Advertising

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In 1867, the first billboard was leased. This billboard was used to hold a large advertisement. Since then, billboards have become one of the most popular forms of advertising. They are unique with visual designs, large size, guaranteed audience, and the ease in which they can be set up on roads and highways.

Billboard advertising industry began in the late 19th century. It started off slowly. But by 1870, there were around three-hundred bill-posting and sign painting companies. Then, in 1891 the Associated Bill Posters’ Association was founded. This expanded the concept of poster advertising, allowing advertisers to see the potential that the medium offered. Today, billboards have risen to one of the most popular forms of advertising. Below we’re discussing what to expect from billboard advertising.

what is the process of advertising on billboards

What Is Billboard Advertising?

When the 20th century began, billboards were a popular form of advertising, but nowhere near as popular as they soon became. With the rise of the automobile, billboards rose to one of the dominant forms of advertising.

Roads and highways were built to accommodate the automobiles that everyone was buying. Billboards were advertising a variety of different products and services on these roads and highways. Everyone saw these billboards as they drove.

Today, billboard advertising is one of the most popular advertising mediums. A billboard is a giant poster that is visible to hundreds of people. Unlike other forms of advertising, billboards always have a sizeable audience. By making the right choices, you might be able to reach the right people at any given time.

  • The billboard advertising industry began in the second half of the 19th century
  • In the 20th century, billboard advertising became a dominant form of advertising, due to the automobile
  • Billboard advertising is one of the most popular forms of advertising in today’s world
  • Every billboard is guaranteed to have an audience

What Do You Do Before Purchasing Your Billboard?

Billboards can be costly upfront. You should know what to expect from billboard advertising. For one, you should consider a consultation with a billboard advertising agency. During your consultation, you should finetune the needs of the billboard. You should also investigate your target audience, the proper location, and what your billboard advertisement conveys and expresses.

effective billboard ads

Purchasing a billboard is a process, and it begins by being aware of your audience, and the exact message that you would like to convey. If those two elements of the process are uncertain, then your billboard will be hard-pressed to succeed.

When you understand those two elements, you can set up a consultation with a billboard advertising agency. Throughout your consultation, you will be able to finetune the individual components of your billboard. These are components include:

  • specific audiences that you would like to reach
  • the message you are expressing
  • placement of your billboard
  • what the billboard says and what it looks like.

Once all of that information has been organized, you’ll be able to look at billboards that the consultant feels are right for your business. Make sure to visit each billboard in person, so that you can see what it really looks like, and whether or not people can actually see it as they drive by.

  • Make sure you understand the message you need to convey and your target audience
  • Setup a consultation and fine-tune the individual components of the billboard, including the design, placement, and specific audience you need to reach
  • Visit the billboards your consultant has suggested for you and find one that looks and feels right to you

What Happens Once You Purchase Your Billboard?

When you purchase your billboard, the next step is for you to work with your consultant on designing the billboard advertisement. All of the preparatory work you did earlier is incredibly valuable in this stage of the process.

what to expect when purchasing a billboard ad

Earlier, before and during your meeting with the consultant, you finetuned the different aspects of your billboard. Aspects that include your target audience, the message you want the billboard to convey, and the overall design of the billboard.

When you work with your consultant on designing your billboard, all of that information will be put to good use. For the words, you’ll need to keep it short and sweet – six-words or less is ideal – while making sure that you’re saying something that speaks to your target audience, and conveys your intended message.

Words are only a small portion of a billboard, though. Billboards are visual mediums, and you’ll be spending a lot of time working with your consultant on the visual design of your billboard. Every visual element must align with what your audience needs, what you are selling, and the message that you intend to convey.

For example, if you are advertising a motorbike that goes very fast, then you should integrate visual motifs that are related to speed and momentum. That way, the words are a supplement to the visuals, rather than the other way around.

  • When you purchase your billboard, it’s time for you to design it
  • Make sure your design is in alignment with your audience, what they want, and the message you want to convey
  • Focus on making the words a supplement to the visuals; billboard advertising is a visual medium

What Makes A Billboard Effective?

When a billboard is in the right spot, has the right visual design and the right words, and successfully introduces people to your product, that billboard is effective. If a billboard is in the wrong spot, has a clunky visual design and a strange choice of words, that billboard is unable to properly introduce potential customers to what you are selling.

unique billboard ads

In order for your billboard to be effective, it must be in the right spot, have the right visual design, and the right words. Those elements lead to a billboard that conveys what it is that you are selling, in a manner that ensures that the right people see what you are offering.

If you are advertising designer clothing, you probably wouldn’t want your billboard to be located on a road somewhere deep in rural Puerto Rico. Instead, you would want to place that billboard in a place where people with lots of disposable income will see it.

Examples of Effective Advertising

When advertising that designer clothing, you need your billboard to convey the status and prestige that comes with wearing your clothing. Instead of using a visual design that appears clunky and lacking in polish, use a visual design that comes across as sophisticated and classy.

To make your billboard extra special, you need to use the right words. For designer clothing, you wouldn’t use words such as “affordable” or “inexpensive”, you would use words such as “elegant” and “luxury”.

No matter what you are advertising, make sure that all three of those elements come together. What you should expect from billboard advertising:

  • Your billboard must be in the right spot, have the right visual design, and the right words
  • Make sure that your billboard is somewhere people can see it, and where the people who will buy your product are likely to see it
  • Ensure that the visual design is in alignment with what you are advertising
  • Make sure that you use as few words as possible, and that every word has an impact

Funny Parking Billboard

bMedia Can Assist

For Puerto Rico billboard advertising, bMedia Group has you covered. We have years of backed experience and can help you craft the right message and the winning graphic to help boost your business. Our form of advertising isn’t just effective, it is proven. Contact us today for a consultation and clarification on what to expect from billboard advertising.

bMedia Acquires Lamar’s Billboard Assets in Puerto Rico

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Lamar Advertising, one of the largest outdoor advertising companies with just under 350,000 displays in both the USA and Canada, have sold all their Puerto Rican assets to bMedia Group as of Monday, April 16th. The local Puerto Rican owned company will now increase their number of billboards by 180 this week, while Lamar Advertising formally exits the island market.

bMedia is owned by two young, local entrepreneurs, Juanchi Casillas and Héctor Horta. The company has always focused on strong visual impact locations for their billboards across Puerto Rico and this acquisition continues that mission. bMedia Group is the leading local outdoor media company on the island.

The founding partners of this exciting new step forward had this to say about the acquisition:

“Thanks to the support of all of our clients and our excellent work team, we have evolved and kept at the forefront of market trends and needs through acquisitions like this one, which have proven to be extremely positive for the industry and the economy of our [island,]” said Héctor Horta, founding partner of bMedia.

“As a young entrepreneur, I’m proud to be able to materialize this great strategic acquisition as it fulfills our objective of continuing to contribute to the economic development of the [island] and in turn, allows us to continue solidifying the outdoor advertising industry,” said Juanchi Casillas, also a founding partner of bMedia.

“Lamar’s media assets further complement our bMedia offering, hence providing our clients with an outdoor media network that will allow them to communicate with their consumers more effectively,” Casillas said.

Learn more about bMedia Group.