Want to know if your billboard ads are worth it? Geo-analytics can help you measure ROI with more precision than ever. By using location data and tracking tools, you can connect your ads to real customer actions like store visits, website clicks, and even sales. Here’s how it works:
- Track Audience Reach: See how many people view your billboard using mobile-location data.
- Measure Engagement: Monitor actions like coupon use or website visits tied to your ad.
- Link to Revenue: Match sales data with billboard performance to calculate ROI.
Tools like Blip make this easy with real-time bidding, performance tracking, and location insights. Start small – $20 a day – and adjust your strategy as you go. With geo-analytics, you can make smarter decisions and improve your ad results.
Billboard ROI Basics and Geo-Analytics
Calculating Billboard ROI
To figure out ROI, divide the revenue generated by the cost of the campaign. Geo-analytics takes this a step further by connecting location data to measurable results.
Ray Bowens, Founder of Hashtag-Vape, explains the affordability of digital billboard advertising:
"Billboards are one of the most impactful ways to advertise, and with Blip, you spend a fraction of what you would end up paying elsewhere."
Using Location Data to Track Results
Geo-analytics links ad visibility to customer actions, helping measure conversions instead of just impressions. Chris Leslie, Founder of Leslie Lightcraft Co, underscores the bold presence of outdoor billboards:
"It’s not a social media thing that you see on your phone. It’s not word-of-mouth. It’s big and bold and out there in public. I would say this is the first step of looking big and public."
Next, learn how geo-analytics can help track key metrics like audience reach, store visits, and revenue impact.
Can You Measure Billboard ROI? Yes, Here’s How!
Key Performance Metrics
These metrics help turn geo-analytics data into clear indicators of return on investment (ROI) across exposure, engagement, and sales.
Audience Reach
Measure how many unique people see your billboard within a specific timeframe. This is done using anonymized mobile-location data combined with traffic counts. To assess ROI, divide the audience reach by your campaign cost.
Engagement Response
Monitor consumer actions like website visits, coupon use, or calls that result from seeing your billboard. Tools like geo-fencing and unique URLs or promo codes make this tracking possible. For ROI, divide the number of engagements by your campaign cost.
Revenue Impact
Determine how your billboard campaign contributes to sales growth by matching transaction data with the timing and location of your ads. For ROI analysis, divide the revenue impact by your campaign cost.
Up next, we’ll look at the tools that make these measurements possible.
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Geo-Analytics Tools for Billboards
Once you’ve gathered the key metrics, specialized tools can help you track, bid, and make adjustments in real time.
Blip’s self-serve platform transforms location data into actionable performance insights. It combines an interactive marketplace with integrated reporting to simplify decision-making.
Interactive Marketplace and Location Insights
Blip provides a U.S. highway map that displays daily impressions and CPM for each billboard. This makes it easy to choose sites and allocate your budget efficiently.
Real-Time Bidding and Performance Tracking
Your ads enter a real-time bidding system, with bids updating every ten minutes to keep rates competitive. Live dashboards let you track impressions and spending as they happen, giving you instant feedback on performance.
Data-Driven Optimization
Blip’s analytics connect billboard exposure to business results. Metrics like audience reach, visit tracking, and revenue impact are all in one place. From here, you can review impressions and costs, adjust schedules, update creative, and improve your ROI.
These tools help you turn raw data into actionable steps for better campaign results.
Tips for Better Billboard ROI
Want to make the most out of your billboard campaigns? Here are some practical tips to help improve your return on investment (ROI):
Define Clear Goals
Decide what success looks like for your campaign. Are you aiming to increase audience reach, drive more store visits, boost direct responses, or grow revenue? Once you know your goals, use geo-analytics data to measure how well your campaign is performing.
Choose the Right Locations
Location is everything in billboard advertising. Use Blip’s marketplace tools, like daily impressions and CPM data, to find the best-performing sites. This data helps you zero in on spots that align with your campaign objectives and budget.
Track and Adjust Regularly
Keep an eye on your campaign performance using the Blip dashboard. You can monitor delivery times, adjust bids every ten minutes, and ensure your spending matches your goals. Start small – $20 a day is enough to test locations and fine-tune your approach.
Summary
Geo-analytics is changing the way billboard campaigns are measured by connecting location data with performance metrics, all made possible through Blip’s interactive marketplace and dashboard.
Here are four ways to get the most out of your billboard campaigns:
- Monitor Campaign Metrics: Keep an eye on real-time analytics to track how your campaign is performing.
- Leverage Location Data: Use insights to choose billboard locations that deliver the best results.
- Optimize Your Budget: Start small – just $20 a day – to test and fine-tune your strategy.
- Adapt in Real Time: Adjust your bids every 10 minutes based on how your campaign is doing.
