Is Billboard Advertising Still Effective In Malaysia (2023)?
Billboard advertising has been around for centuries, and it's still one of the most effective ways to reach a large audience with a memorable message. Billboards can be seen by millions of people every day, and they're a great way to build brand awareness, generate leads, and drive sales.
In fact, a study by the Outdoor Advertising Association of America(OAAA) found that 70% of people who see a billboard remember the message within 24 hours. That's a higher recall rate than any other form of advertising, including television, radio, and print.
So, if you're looking for a way to reach a large audience with your message, billboard advertising is a great option. But, how much do you know about billboard advertising?
How Effective is Billboard Advertising?
There is a lot of evidence to suggest that billboard advertising is effective. For example, another study by the OAAA found that 82% of consumers remember seeing at least one billboard ad within the past month. Additionally, a study by Nielsen found that billboard advertising can increase brand awareness by up to 70%. This indicates that billboard advertisements are one of the essential channels if your brand needs more brand awareness.
Benefits of Billboard Advertising
- Reach: Billboards can reach a large number of people. A single billboard can be seen by thousands of people every day, and this makes billboard advertising a cost-effective way to reach a large audience.
- Frequency: Billboards are seen repeatedly by people who pass by them. This repetition helps to increase brand awareness and recall.
- Impact: Billboards are eye-catching and attention-grabbing. They can be used to create a strong visual impact that will be remembered by consumers
- Flexibility: Billboards can be used to promote a wide variety of products and services. They can also be used to target specific audiences, such as drivers, pedestrians, or commuters.
How To Measure The Effectiveness Of Billboard Advertising?
Measuring the exact effectiveness for billboard advertising can be challenging as it depends on various factors such as campaign objectives, target audience, creative design, and location. However, many have used the sales lift as a metric to determine the effectiveness. It requires the marketer to compare the sales before and after the billboard advertising.
Is Billboard Ad Still Effective in 2023?
Yes, billboard ads are still effective in 2023 despite the popularity of digital marketing channels. In fact, billboard advertising is becoming increasingly popular, as more and more businesses are realising the benefits of this form of advertising.
There are several reasons why billboard advertising is still effective in 2023. These reasons include:
People are still exposed to billboards: Although digital advertising is becoming increasingly popular, people are still exposed to billboards on a daily basis. This is because billboards are placed in high-traffic areas, such as highways, intersections, and shopping malls.
Billboards are attention-grabbing: Billboards are eye-catching and attention-grabbing. This makes them ideal for creating a strong visual impact that will be remembered by consumers.
Billboards are cost-effective: Billboard advertising is a cost-effective way to reach a large audience. This is because billboards can be seen by thousands of people every day, and the cost of billboard advertising is relatively low.
Image credits to VR Globalink Solution Marketing
Is the Malaysian Billboard Advertising Industry Growing or Shrinking?
The billboard advertising/OOH industry is growing in Malaysia. According to a report by Statista, ad spending in the OOH advertising market in Malaysia is projected to reach US$187.70 million (Approx. RM876.20 million) in 2023. This represents a growth of 6.5% from 2022.
There are a number of factors that are driving the growth of the billboard/OOH industry in Malaysia. These include:
The increasing population of Malaysia. The population of Malaysia is expected to reach 33.4 million by 2023. This means that there will be a larger pool of potential consumers for businesses to reach with their advertising.
The growing middle class in Malaysia. The middle class in Malaysia is growing rapidly. This means that there is more disposable income available for people to spend on goods and services. Businesses are looking for ways to reach this growing market, and billboard/OOH advertising is a good way to do this.
The increasing popularity of digital billboards. Digital billboards are becoming increasingly popular in Malaysia. These billboards can be updated with new messages quickly and easily, which makes them a very versatile advertising medium.
In a nutshell, billboard advertising is still an effective way to reach a large audience in Malaysia. The industry is growing, and there are a number of factors that are driving this growth. If you are looking for a cost-effective way to reach a large audience with your advertising, billboard advertising is a good option to consider.