Advantages of Outdoor Advertising

Outdoor advertising is a necessity for many businesses. If you only advertise in your store, you won’t be able to advertise to local prospects and those driving or walking by. You can get a lot of business from passersby who stop in to your store on impulse. Of course, people get those impulses from seeing your outdoor advertising, usually in the form of a poster printing piece like a huge sign or billboard.

Advantages of outdoor advertising posters You can’t switch off an outdoor advertisement. People can turn off the TV or radio, they can’t turn off billboards and other outdoor posters. When people drive by billboards or walk by posters on the side of a building, they can choose not to look, but they often do look. Even if they don’t want to, curiosity gets the best of them and by the time they’ve decided they don’t really need to read the poster, they’ve already read it. That leads to the next advantage.

Posters are easy to digest. By their very nature, posters are graphic elements with little text. People process images much faster than they process words, which means posters can be quickly and easily understood. People spend a lot of time in their vehicles. The average commuter spends 25 minutes on her drive to work which is nearly an hour a day spent driving past billboards and signs. When you factor in traffic, that’s probably is an hour spent sitting on highways and city streets, bored. When people are bored they like to look at interesting things. That’s where your outdoor advertising comes in.

Posters aren’t as expensive as other forms of advertising. Outdoor advertising, which pertains mostly to billboards, are priced as CPM, or cost per thousand. CPM is the cost of reaching 1,000 potential viewers through an outdoor advertising display. You can find the CPM of a billboard by dividing the monthly cost by the monthly circulation in thousands. The billboard company that rents the space can tell you what the monthly circulation is of each billboard. Circulation is the number of people who see the billboard each month. So, if you pay $2,000 to rent a billboard for one month and the billboard has a monthly circulation of 2,000 viewers, you’ve just paid $1 per view. If the monthly circulation is 10,000 for that same $2,000 billboard, you’ll only pay 20 cents per view. That’s cheaper than postcard marketing.

Market Research Is Important For Your Business

Market research is important for a company or to anyone else planning to start a business to know what types of products or services would be profitable to introduce in the market. Business decisions that are based on good intelligence and good market research can minimise risk and pay dividends and by making market research part and parcel of the business process and conducting market research throughout the lifecycle of a product or service market research will bring the following benefits:

Market research will help you better communicate – Your current customers experiences are a valuable information source, not only will they allow you to gauge how well you currently meet their expectations they can also tell you where you are getting things right and more importantly where you are getting things wrong.

By asking the customer you not only show them that you care but you also take the guess work out of customer services.

Market research helps you identify opportunities – If you are planning to operate a new service and want to know the preconceived attitudes people have then market research can help, not only in evaluating the potential for a new idea, but also by identify the areas where a marketing message needs to honed.

Market research will minimise risk – Market research can help shape a new product or service, identifying what is needed and ensure that the development of a product is highly focused towards demand. Market research creates benchmarks and helps you measure your progress – Unless you measure you may not be able to gauge how well your business is performing. Early research may highlight glaring holes in your service or short falls in your product, regular market research will show if improvements are being made and, if positive, will help motivate a team.