Type of Billboard( static billboard or digital billboard)
A fee paid to the Advertising Practitioners Council of Nigeria (APCON)
Designing cost for banners
Factors that affect the cost of digital billboard advertising in Nigeria
PICK A LOCATION
Get to pick a precise location for your target audience. Where do your customers converge? Which route do they usually take when going out or coming in? These will help you weigh the cost of billboard advertising in Nigeria to know if it will be worth it.
We evaluate dozens of locations before choosing: mainland, island, market places, roadsides or expressways.
This is because showing ads to consumers outside the targeted market is a waste of impressions and this will impact negatively on the entire billboard advert campaign performance. We are concerned about the Return on Investment (ROI) and maximizing the marketing budget.
The place where younger generations spend more of their time outdoors is different from where the older ones spend theirs. Therefore, you need to recognize where your target audience are and meet them with your billboards.
The business class would always converge around the bus terminals, airports, hotels and even conference centers. Understand all these before picking the location you want your ad billboard.
THE BILLBOARD TYPE
For billboard advertising cost in Nigeria you look at two major types of billboards.
Static billboard gives you a dedicated space to advertise on without the option to share with other brands.
Some advantages of static billboards:
With a static billboard, you wouldn’t be sharing a space with any other brand. It would 100% be yours, day and night, till your rent expires, while with digital billboards, your ad would only be displayed for about 8 seconds at a time, once every 64 seconds.
Static billboards are a lot more affordable compared to digital billboards.
Some disadvantages of static billboards:
If we decided to modify our ad mid-campaign, it would require lots of effort to do this on a static billboard. It’s a lot easier to update a digital billboard because there’re no printing costs.
Static billboards only display static content, unlike digital billboards, which can display animated content such as videos.
However, they might be affected by harsh weather condition and it might be difficult to modify the ads’ messages.
Digital billboards address these challenges and also display ads that are more engaging than static billboard but they do not give dedicated spaces. You might find yourself sharing billboard space with a competitor.
This is necessary if you are putting up outdoor ads in Nigeria, especially Lagos.
APCON stands for Advertisers Practitioners Council of Nigeria and they are mandated by law to review and approve outdoor ads before people can put them out.
According to their charter, they are dedicated to promoting responsible and ethical advertising practices in Nigeria. They will vet your billboards adverts to be sure it is up to standard. This also adds to the cost of billboards advertising in Nigeria.
DESIGNING THE BANNERS
The designing of the banner increases the cost of advertising on billboards in Nigeria. You should understand that your audience is always on the move, so you have a few seconds to grab their attention.
Designing an ad that can communicate your message boldly and in a few words is important. Go for a banner that will appeal more emotionally to your audience.
Don’t forget to ensure that the printing company makes use of material that can stand the weather when the banner is mounted outside.
GETTING STARTED WITH COST OF BILLBOARD ADVERTISING IN NIGERIA
How much is the cost of billboards in Nigeria?
A number of things count towards the cost of a billboard in Lagos
Printing costs (if it’s a static billboard or digital billboard)
A fee paid to the Advertising Practitioners Council of Nigeria (APCON)
Designing cost for banners
Are some of the major costs one will incur when checking out the cost of billboard advertising in Nigeria?
ADVANTAGES OF BILLBOARD ADVERTISING
They are big and eye-catchy
It comes with a large target audience
Information is easy to pass across
Effective in brand awareness
Targets all classes of people
Strong visual effect
Builds company reputation
Quick rise in sales/leads
DISADVANTAGES OF BILLBOARD ADVERTISING
It is relatively expensive
Risk of vandalism
Static mode of advertising
No space advantage
Short term of advertising
Limited information to consume
No specific audience
The goal of every business is to make profit. In pursuit of this goal, most businesses thrive to sell their products and services and using billboards advertising is one of the most valuable means. Sales are a by-product of the level of awareness a brand is given in the market. Most times, consumers patronize brands that they see on different platforms and one of the most effective is the billboard advertising; hence it is imperative to know how much does billboard advertising cost in Nigeria.
The cost of Billboard adverting in Nigeria has a huge impact on sales. Statistics, show that outdoor advertising has the highest recall rate. The advantages of outdoor advertising are immense, especially billboard advertisements. Billboard advertising in Nigeria is perceived to be for the big brands only due to its cost.
There are several factors responsible for the high cost of billboard advertising in Nigeria. However, some brands that have the resources to run billboard advertising in Nigeria have, over the years, reaped its fruits, which include: high brand retention and recall, increased consumer loyalty, increased sales, positive brand repositioning and image building and many more.
In order to have a successful billboard advert in Nigeria that will bring good return on investment, there are rules must be followed.
In Nigeria, before any advert can go public, it must be approved by the Advertising Practitioner’s Council of Nigeria (APCON). This is the regulatory body responsible for the approval of advertisement copy in Nigeria called vetting. For an advert copy to be approved,
Application is made by the advertising practitioner seeking approval to advertise attaching a professionally produced advert copy/layout in colour and product samples should not less than 12 units.
The application is then forwarded to the Chairman of the Advertising Standard Panel together with all the attached documents.
The Advertising practitioner meets twice every month. However, a request may be honored provided the applicant takes full responsibility for such an emergency meeting.
Provisions are available for 8- 16 hours accelerated vetting.
A formal letter notifying the applicant of the status of the application will be sent as soon as the application is received
No advertisement under the vetting category should be exposed unless a certificate of approval from the ASP, signed by the Chairman and the Registrar of APCON has been received by the applicant or media house.
Copies of the Certificate of Approval must be attached to all media orders.
HOW MUCH DOES BILLBOARD ADVERTISING COST IN NIGERIA VS THE IMPACT OF BILLBOARD ADVERTISING
A study shows that 83% of people recall seeing an outdoor advert before shopping.
The same study found that 68% make shopping decision while in the car.
Research from Ocean Neuroscience shows that consumers are 48% more likely to click on a mobile ad after being exposed to the same on out-of-home advertising first.
All these research have continued to point out that billboard advertising is not dying any time soon.
A study reveals that while radio, print media and television ads have declined in prominence, out-of-home ads have enjoyed 31 consecutive quarters of growth, and a 35% increase in ad spend since 2010.
And by 2021, billboard advertising is expected to grow to a $33 billion industry.
While these statistics may reassure you that billboard advertising can be effective, it is still up to you to ensure that you create billboards that are strategic, engaging and really get noticed.
UPSIDE OF USING BILLBOARDS
It may seem like a big investment. Yes, a billboard can cost you. But, it will help your company and build a brand awareness image.
Imagine, a stationary billboard at one location will be noticed by all the people passing by. This will strengthen your product presence in the market as you reach numerous target groups simultaneously. The size of the billboard makes it impossible to not notice it. Although, your audience might have limited time to take note of your ad, there will be a high frequency of customers being repeatedly exposed to it.
This results in the ad automatically getting registered in their photographic and gives a strong visual presence.
SELECTING AN AGENCY
There are a whole lot advertising agencies, the cost of billboard advertising in Nigeria can also depend on the agency you are using.
There are some questions you need to ask and check out for when choosing a billboard advertising agency. Some are listed below:
Do they have billboards in good locations?
Do their billboards offer elevated exposure?
Is their price within your budget?
Do they have the type of billboard that fits what you want?
Are they APCON approved?
COST OF DIGITAL BILLBOARD IN LAGOS, ABUJA, PORT HARCOURT AND KADUNA
The cost of a billboard in Lagos and some of these major cities in Nigeria listed above varies and that is because of the location of these billboards in Nigeria.
Majorly the cost of a billboard in Lagos is usually higher because of the massive population in Lagos and the reach you will get. The cost of a billboard in Abuja and Port Harcourt and other cities are also determinate by the factors which are listed above.
The Cost of billboard advertising in Nigeria and airport advertising costs in Lagos and Abuja etc depends on some of the factors listed above and you can get the best from billboard advertising but it should be seen more as an investment that will yield fruit over time.