A billboard advertisement is a form of advertisement in which an outdoor structure is normally placed in high traffic or a busy road. The main aim is to attract pedestrians, passengers, and drivers.
In Chicago, billboard advertising is mostly done alongside public transportation or in traffic used by pedestrians on foot, which mainly targets commuters.
In most scenarios, it’s more of billboard advertising near me, since it’s aimed to cover a large population estimated to over 2,693,959 people so that finding customers and building up the branding of their product is easy and faster for the growth of the business.
The average cost for billboard advertising in Chicago.
The cost of advertising in Chicago is based on monthly or weekly terms. There are various types of billboard signs based on the cost, as shown below.
|TYPE OF THE SIGN||COST PER 4 WEEK (LOWER LIMIT)||(UPPER LIMIT)|
|Wallscapes & Spectaculars||$5000||$50000|
The following is a table shows the cost distribution of various types of billboard advertising costs in Chicago.
|BILLBOARD||AVERAGE COST||LOWER PRICE LIMIT||MEDIAN CPM||MEDIAN IMPRESSION||TOTAL ADVERTISING CHOICES||NUMBER OF BILLBOARD COMPANIES|
|Chicago OOH Media||$1.24k||$100.80||$7.47||176,827||18,5412||110|
|Chicago Digital BILLBOARD||$2.3k||$960.00||$5.47||910,276,901||338||25|
|Chicago street furniture||$660||$200.00||$3.53||1,141289199||7,722||9|
Digital billboard advertising cost in Chicago.
Digital billboard advertising is billboards that display product digital images and videos, which keep changing from time to time depending on how the computer controlling them is programmed. They are primary in nature, but none the less they serve public service.
In Chicago, digital billboard advertising is normally situated in areas with the best visibility, such as heavy traffic, in highways, major road intersections, in arterial (primary), in places with tourist attractions, in sports arenas.
The digital billboard advertising cost in Chicago is averagely valuated to range from $2500 as a lower limit and $8000 upper limit per month depending on the place the billboard is located.
Before considering the type of digital billboard advertising cost to settle on in Chicago, the following are factors to consider.
- The size of the billboard.
Billboards in Chicago are classified as either large, medium and small.
- Large – they are best convenient for both building brand recognition and naming, and they are normally located on heavy traffic roads in Chicago.
The estimated cost valuevaries from ($1500 the lower limit, and $5000 for the upper limit)
- Medium billboards – mostly are located in market places.
The estimated cost values range from $700 as a lower limit and $3000 for the upper limit.
- Small billboards – they are most convenient in terms of cost, basically targeted for advertising short -term products.
The estimated cost value is $300, lower limit to $800 upper limit.
- The target geographic market.
Most digital billboards located in rural areas and sub- urban are less costly since the population is less dense; hence the targeted group that sees the billboard are less.
Renting a digital billboard in metropolitan areas part of Chicago, the cost is raised since the group area of coverage is high.
Depending on the urgency of the product, someone may opt for “billboard advertising near me, which is a bit cheap since they are short-term in nature but perish very fast.
Advantages of digital billboard advertising.
- Enable your target group to find you by creating a market funnel for brand awareness.
- Enable companies to decide on the right locations, able to set up the schedule, and able adjust the budget
- Improves market communication by creating more channels.
- Assist small businesses in Chicago to grow.
Chicago billboard for sale
Any billboard for sale in Chicago will depend on the location and the time for the advertisement. The budget for any Chicago billboard for sale is based on blip which ranges from 7.5 – 10 second on a billboard which is rotating.
How to use a digital billboard to the new millennials
Most companies in Chicago consider any person born in 1977 to date (2021) as a millennial. Many notions revolving around these demographic consumers needs to be considered in terms of strategies for marketing products.
Chicago comes as the third-largest city in the USA, having over 7.3 million adults with an average HHI (Herfindahl- Hirschman index) income of about 14%. So, most of the billboards are design desirable to this audience.
Economically, millennials are categorized as the “misery index group,” based on unemployment and inflated rate. But despite that, 41% of them are happy with the situation as opposed to 23% who are boomers. 90% still believe there’s a bright future to earn more to get their desired products. So, the most digital billboard in Chicago is made so that they are future promising to meet the interest of the demographic group.
Chicago makes on the top in cities in the USA, with the most affluent millennials approximated to 14.7%, owning assets above $2million.
Most millennials in Chicago opt to stay in dense urban areas. Thus, for companies to meet the target group, more of the neighborhood signs of advertisement is used.
Most millennials living in Chicago in towns are less likely to have cars. Therefore, they are likely to go to work on foot; hence, most companies opt to use wild posters for advertising.
Factors to consider when creating a billboard Ad for millennials in Chicago.
- A good Deal
Millennials covers the largest demographic are in Chicago, with the majority willing to spend dollars on these Ad deals. With this in mind, the Ad deal should be favorable to a small paycheck, having the latest and greatest features. Statistically, over 31% of their income goes to these deals.
- Giving Endorsements to them.
Most companies opt to use millennials who are music artists to endorse their product advertisement campaigns.
Endorsing them increased the buying rates by 28% from the music artist fans and increased the market shares by 2.4 points.
- Giving them a cause.
About 8% of the millennials take responsibility to look after older adults; hence, millennials want to be philanthropic when it comes to strategical marketing.
About 75% of millennials consider non-profit products, with 57% doing voluntary work. Therefore, designing a business strategy should allow the millennials to engage in business that gives back money to them. With that business, the millennials are likely to promote the business.
- The local pride.
Millennials will promote a business that is authentic and which is regionally based. To promote this, most Chicago companies opt to use neighborhood signs in an advertisement, in particular, to create local pride to their advantage.
- They are allowing social interaction.
Most millennials are on social media than any other generation. 20% of them constantly update their status on various social platforms every day. Nonetheless, 36% of them, which belong to boomers, don’t update. Therefore, involving social media in your billboard will assist the company in driving significant traffic and creating a good impression of their product.
Use of Billboard in tech companies.
Companies that deal with techs such as Facebook and Google are on the front-line using billboards to advertise online. The main aim is to maintain the numbers of the targeted audience, maintain market share and create brand awareness.
Most of these companies are using out-of-home (OOH) to drive their action.
Research has shown that 46% of the adult population always find out about a company’s product after seeing the advert from the billboard. 40% have always look on google and Facebook pages after looking at the product on OOH advert. 32% get the information about the product through banner adverts.
Most tech companies may prefer billboard adverts because most consumers, especially audiences from YouTube, TV shows such as Netflix, skip or block the adverts, going straight to the content itself.
The outdoor adverts are always outstanding, still demanding the audience’s attention, unlike newspapers and magazines, which are being replaced by online search and blogs. The OOH is advantageous to the online users as it provides the brand with a space in the habitat the consumers live.