Billboards and other outdoor ads are some of the most effective and valuable advertising mediums businesses continue to utilize. Although many of us might only look at a billboard for a short period of time, they are still successful at grabbing our attention, and they’re everywhere we go! You can always find an ad on highways, buildings, transit vehicles, and more. These are just some reasons why businesses trust OOH (out-of-home) ads like billboards to bring in the highest number of views and reinforce brand recognition. However, many forms of outdoor advertising don’t come with the same kind of automated metrics and analytics that digital ads provide. So, how do you know how well your outdoor advertisement is working, or if it’s even working at all? The answer is through a detailed Outdoor Advertising Analysis.
Outdoor Advertising Analytics
This thorough assessment uses analytical data and tools that help businesses efficiently monitor their marketing campaign within a specific industry. Advertising analytics let marketers know if their campaigns are targeted to the right audience and if they are using the right medium to do so.
Why is Outdoor Advertising Analysis Important?
Companies that use data-driven insights have a 10-30% improvement in their overall marketing performance. This is because the practice provides you with the data to determine if your outdoor advertising campaign is working or not. A thorough outdoor advertising analysis will prove just how effective your billboards can be.
Having this information allows businesses to make changes to their strategy accordingly, such as reallocating budgets, or changing the ad’s approach. Analyzing this information properly and carefully will guarantee a greater impact for any advertising campaign.
How to Measure Advertising Analytics
There are many metrics that go into measuring the success of your outdoor advertising campaign strategy.
Here are the most common:
Impressions are used to quantify the times a user encounters an advertisement. This is also known as a view-through. Essentially, impressions represent the number of times an individual consumer sees a message from your advertising campaign. Traditional billboards measure impressions by referring to how many show the specific ad in a given area. Some brands might have a more saturated presence in one area compared to others, which can pull focus from your ad.
Reach refers to the total number of different people or households exposed to your advertisement. When it comes to billboards and other forms of OOH, this is calculated using the Daily Effective Circulation (DEC), which is the average number of people or vehicles that are exposed to your billboard within a given timeframe measured in hours, referred to as the effective illumination rate.
Reach can also be measured through:
- Census Data
- Eye Tracking
- Traffic Counts and Vehicle Analytics
Frequency refers to the average number of times your ad is exposed to a unique user. This is calculated by dividing your ad’s impressions by its reach. High-frequency rates increase the chance that a customer has a high-quality engagement with your ad and that there were multiple interactions with your brand. Essentially, this statistic takes into account how many times the consumer will be exposed to your ad throughout the campaign. Frequency can be measured by:
- Estimates (Frequency divided by reach)
- Census Data
- Data Modeling
Traffic and Location
Before businesses decide on a location for their billboard or outdoor ad, we recommend using government data, census, road traffic counts, and manual travel data to measure foot and vehicular traffic. This will allow businesses to get a sense of how many vehicles and pedestrians will pass by the ad in this proposed location. This data can also be used to measure metrics while the ad is live.
If your business has a unique brand name, slogan, or catchphrase, try incorporating that into your ad. Data scraping methods will allow you to analyze how often terms unique to your business are typed into search engines, similar to keyword research. Search levels will give you insight into how often consumers are viewing your ad and engaging with it.
Businesses can utilize hashtags to help them evaluate the effectiveness of their billboard or other OOH ad. Hashtags are a popular way to track conversations surrounding the brand, product, or service. Including hashtags on an outdoor ad can motivate consumers to engage with the ad and eventually use the hashtag on social media. This method can provide useful insights for businesses such as audience reaction and customer retention.
An increase in sales can determine if an outdoor ad is bringing in more customers or not. It’s recommended businesses monitor sales reports and see if there is a correlation between sales and the outdoor ad campaign. If there is an increase in sales and customer retention during the lifespan of the ad, it’s safe to say that the ad is working!
bMedia Group: Puerto Rico’s Advertising Experts
Here at bMedia Group, we understand how specific data and metrics can help optimize your advertising efforts. As Puerto Rico’s advertising experts, we can offer you the best ROI through our extensive outdoor advertising opportunities.
With over 500 billboards available in a variety of formats, located in high traffic and high impact areas, we guarantee your ad will be seen.
Our group of professionals uses data and vehicle analytics compiled from accurate and real-time information and they are always ready to provide effective and measurable solutions to your business. bMedia knows that with the right data and analytics, we can help your business reach new heights in Puerto Rico.
For more information on how to find the right billboard and location for your next advertising campaign, reach out to bMedia today!