Billboards Are Good, Social Media Ads Are Better.
Do you have a solid number on how many new clients or customers you acquire from your billboards around town?
Lamar.com estimates renting Billboards in the Roanoke area can span between $750-$1650 per month.
To compare, social media organic marketing costs $0 with average CPC (Cost Per Click) across all industries at $1.86 (in 2019) as you dive into the ad spend realm.
Those numbers are staggering in and of themselves but the real kicker lies in the ability to PROVE your ROI (Return On Investment).
Sure, a click on your social media ad doesn’t lead to new customers or sales 100% of the time, but when it comes to social media marketing, there are further ways of tracking ROI.
Further, there are ways to know that you’re only spending money or time putting your advertisement in from of the people who actually matter.
For example, did you know that it is possible to make an ad on Facebook that ONLY gets put in front of single mothers with a doctorate degree in Blacksburg, VA who are interested in Cycling and Pizza and who earn a salary in the top 15%?
Pretty impressive for your new lofty Cycling and Pizza business in Blacksburg.
(By the way, this is a terrible business idea… 🤢)
Now say that ad says something along the lines of "sign up with your email and use code ‘ZACYCLE' for a free first class and pizza slice”.
You now have a highly targeted ad that allows you to know in absolute certainty that the $500 you spent on that ad brought in 4 new emails of customers that come in your door for their free cycling class. (Because they all used the code that you only put on your ad.)
Now let's say your membership costs $250/month and that 2 of those 4 people brought in from your ad sign up for a membership.
Well, those two only have to stay one month to pay you back for your ad.
But the good news is, most customers or clients stick around a bit longer.
In fact, you’ve done your research and know that the average customer shelf life in a nicely run gym is 12-15 months.
That’s $6000 made off your $500 ad. An ROI of $5,500.
Can your billboards do that?