Understanding the Cost of Billboards in Miami

Miami is easily associated with the East Coast’s gorgeous beaches and shorelines, and many will think about the city and immediately recall MTV clips of spring breakers going wild on Miami’s sand and in its ocean waters.

However, Miami is more than just a massive beach. It’s a place that many people call home in Florida, with its own culture. It’s also a bit of a college town, with Miami University’s campus on Miami’s grounds. That means that the demographics of Miami are quite diverse. This also means that pricing out Miami billboards can be a little difficult.

What areas of Miami are you interested in advertising to? And what are the demographics of the people who live there? Or what about the people who simply visit those areas frequently? 

When looking into Miami billboards it’s important to remember who’s eyes are going to be coming across your ads, as well as to make sure that these demographics match up with your marketing goals. Just because one area of Miami is known for seeing more traffic, doesn’t necessarily mean those Miami billboards are going to meet your needs and be worth the cost.

Do Some Research

Miami billboards, or advertising in Miami in general, can be pretty expensive. This is largely because of the size of the city, as well as its fame to those who are visitors and tourists of the area.

And marketing companies for out-of-house (OOH) ad campaigns know that this is the case, just as well as you do. However, though prices for some of these Miami billboards might be high, it can be very helpful to do your research.

Some companies will offer significantly lower prices, sometimes even offering deals or discounts if you agree to sign on for a longer-term ad campaign with them. Locking in a long-term placement for your ad might be helpful with getting and maintaining sustainable growth over bigger spans of time.

As an example, Blue Line Media offers billboard spots in Miami for less than $2,000 a month for a medium billboard, but this number skyrockets up to $5,000 for a large digital billboard display. The price ranges for billboard campaigns are large, even within individual companies.

However, beware of red flags, or at least make sure that the company feels pleasant to work with. Look into reviews online, talk with them on the phone, and consider your goals for the overall campaign. 

Remember that you’re probably going to need to be in conversation with this company for a long period of time for the sake of your brand’s health and longevity. It’s best if the company you work with doesn’t make the advertising game harder than it already is.

The General Demographics

Miami has a population of more than 480,000 people. What’s more? The population is still growing. According to World Population Review, Miami’s population has increased by more than 20% since the last national census in 2010.

Unfortunately, Miami also has a relatively high poverty rate of more than 23%.

Miami billboards might be a good investment, however, if you’re target audience is one of its larger ethnic populations, like those who are ethnically Cuban (approximately 34% of the population) or Nicaraguan (5.6%). Interestingly, Miami also has a high percentage of its population defined as foreign-born, at 59%.

The city is also more than 70% Hispanic.

In general, the demographics of a location are pretty important when it comes to where you’re targeting your ads, so taking these into account for Miami billboards campaign can be considered a pretty high priority.

Look for Areas with Less Billboard Competition

A budget-friendly way for you to look into your billboard options, is for you to look into areas that have less billboard competition built into them. What this means, is you could try to find areas where people aren’t spending very much on their advertising, or there just aren’t very many billboards taking up space where you place your ads.

While these areas generally have less eyes on them, there may be some good bang for your bucks because you’ll be less likely to fight for the attention of potential customers.

These areas can also potentially pull in demographics that are considered less popular or less valuable. However, if those who populate in these less expensive areas are still within your target audience or customer base, this is certainly worth exploring.

Prices can depend heavily depending on these demographics, again, explaining why there’s so much variance in price offerings for so many billboard companies.

Conclusion

In closing, really pay attention to the demographic characteristics of different neighborhoods and cities before you decide to advertise there. The makeup of these demographics, from age to race, from gender to class, can really make the difference in the success of your OOH marketing campaign. Research is not something to skimp on here.