All you need to know about local advertisements in shopping centre cost. Learn about the factors you need to consider for better ROI.
How much do local advertisements in shopping centres cost?
If you have a new business or want to grow your local clientele, you may have wondered how much those local advertisements you see in shopping centres cost.
Cost is certainly a factor that we will cover in detail, but note, there are other important things to consider when deciding whether this marketing approach is suitable to promote your business.
Read all the tips in this article so you don’t end up wasting your money. Let’s start with the basics and then go a little deeper to help you find the best advertisement option for you.
What is retail or local advertising?
Retail or local advertisement is usually only a part of a well-rounded marketing plan that should include promoting products through different mediums online and offline.
Retailers use this marketing strategy to attract the attention and interest of potential customers towards their products, but the effectiveness of this and any other marketing effort depends on good targeting. That’s why the first thing to do when you decide to pursue is to figure out where your clients spend time because there’s no point in hanging a billboard in a shopping centre where your target customer won’t see it.
How do I advertise in a shopping mall?
You have to start by choosing the right advertising medium from options such as digital signage, banners, posters, kiosks, etc, depending on what’s available in the location you’re interested in. You’ll want to choose the option that best suits your advertising message and budget.
Next, you’ll want to determine the best location for your advertisement. For example, if you’re promoting a new clothing line, you may want to place your ad near a clothing store or in a high-traffic area where your type of shopper is more likely to see it.
Why advertise in shopping centres?
Shopping centres are busy places where people go shopping, eat, and socialize. This means many potential customers are passing by your advertisement every day. By advertising in shopping centres, you can also increase your brand awareness and visibility among a wide range of potential customers. This can help to build trust and loyalty with your target audience, even if it doesn’t always lead to direct sales.
How much do local advertisements in shopping centres cost on average?
The cost of local advertisements in shopping centres can vary depending on several factors, such as the location, size, duration, and advertisement format. Generally, a budget can range anywhere between $500 and over $10,000 per a week. Here are some general price ranges for different types of advertisements in shopping centres across Australia:
Costs of digital displays
These are large screens that display advertisements on a loop. The cost of advertising on these screens can vary depending on the size and location of the screen, as well as the duration of the ad campaign. Prices can range from $1,500 to $10,000 per week.
Costs of billboards
These are large, static signs that can be placed in high-traffic areas of shopping centres. Prices can range from $500 to $5,000 per week, depending on the location and size of the billboard.
Costs of posters and flyers
These can be printed in various sizes and placed in high-traffic areas of shopping centres. Prices can range from $100 to $500 per week, depending on the size and location of the advertisement.
Costs in-mall events and activations
These are promotional events and experiences that can be set up in shopping centres to promote a product or service. Prices can vary widely depending on the complexity of the event, the size, the location, and the duration of the activation.
Remember these are just general price ranges and the actual cost of advertising in a shopping centre will depend on many different factors. It’s always best to contact the specific shopping centre you are interested in to get a more accurate quote for your specific needs.
What’s the main downside of advertising in shopping centres?
It can get expensive and it’s harder to narrow down your target audience, so the ROI isn’t always the best (or at the very least it’s harder to track). That’s why it’s important to include digital advertising which allows you to truly aim your resources at those who fit your demo and are more likely to be your ideal buyer, all while closely tracking results.
What are other options to advertise my business?
You’re probably familiar with print advertising, which includes newspapers, magazines, brochures, flyers, and billboards. Print advertising can be effective for local businesses, but it can be more expensive than online advertising.
There are also radio and TV ads that can be effective in reaching a wide audience, but they can also be very expensive and even harder to track.
You could also try direct mail, which involves sending postcards, flyers, or catalogs directly to potential customers. This can be effective for reaching a specific geographic area or demographic, but you’ll need to research to avoid landing directly in the bin, like physical spam.
Sponsoring events or organizations that align with your brand or target audience can be a good way to build goodwill and credibility.
Last but not least, you should seriously consider digital advertising because it’s the best choice for most businesses, small and big.
Why should I Invest in digital marketing?
Digital marketing and advertising have the best and most trackable return on investment out of all the options in the market nowadays. This is especially important if you’re a small business and have to optimize limited resources.
How is digital marketing better? Let’s see:
- Targeted: Digital advertising allows you to target specific demographics, interests, and behaviors, so you can reach the people who are most likely to be interested in your products or services. This can be more effective than traditional advertising, which may reach a broad audience that includes many people who are not interested in what you offer.
- Cost-effective: Digital advertising can be more affordable than traditional advertising, as you can set a budget and only pay for the clicks or impressions you receive. This means you can get more bang for your buck and reach a larger audience for less money.
- Trackable: Digital advertising is the most trackable medium, which means you can see exactly how many people are seeing your ads, clicking on them, and converting them into customers. This allows you to measure the effectiveness of your campaigns and make adjustments as needed, avoiding wasting money, not things that just don’t work.
- Mobile-friendly: Many people access the internet primarily through their mobile devices, and digital advertising is well-suited to mobile devices. This allows you to reach people wherever they are, whether they are at home, at work, or on the go.
Digital advertising can be a powerful tool for building brand awareness and credibility, especially among younger demographics. By appearing on reputable websites and social media platforms, you can increase your brand visibility and reach a wider audience that’s been handpicked for their affinity with your product.
Overall, digital advertising is a smart investment for small businesses looking to increase their visibility, reach new customers, and drive sales. It’s important to work with a qualified digital marketing agency or consultant to ensure that your campaigns are well-targeted, cost-effective, and trackable.
If you need some guidance with your marketing strategy, at Mindesigns we’re here to help. Get in touch and receive a free consultation today.