If you’re in possession of an agreement for a lease of hoardings but it doesn’t indicate that you are aware of its worth. It’s sometimes difficult to determine the correct price for the billboard for your lease agreement. How can you figure out the value of a lease contract?
There Are Many Factors That Impact The Cost Of The Lease
Your billboard’s size is an important factor that determines its value. Additionally, there’s a different value to a one-sided billboard than a double-sided billboard. The billboard could be located in the street and near the eye of traffic or located on the roof of a building. A billboard could also be more valuable at a particular intersection.
Billboards not situated at intersections might be less valuable, however, one that is located on a major highway could be more valuable. Additionally, you might be interested in looking at other billboards that are located near to yours. Are you in a region that is crowded with billboards? Your billboard might not be of the same value.
There are a lot of aspects to consider when determining the value of your construction hoardings. There are three main strategies that can aid your assessment. These include the revenue, sales comparison and cost of replacement strategies.
The sales comparison technique employs the most well-known sales price for the billboard in order to determine the value of the lease agreement. Since billboards are typically purchased in large quantities, it may be difficult to estimate the value from sales prices. The income strategy combines the cost of renting and revenue for the billboard. It’s a comparison of the incoming and outgoing money as a result of the structure of advertising.
1. Designing Effective Billboard Advertisements
One effective ad could earn you fortunes, but 10 bad ads can result in hundreds of thousands (possibly millions) in dollars. This is why it’s crucial to be attentive to each and every aspect of your advertisements.
Be aware that every type of media is unique which is why it’s not recommended to put a newspaper advert on billboards. You wouldn’t be wearing the pyjamas you wear to church, or to an expensive dinner, would you?
There are many different aspects to billboard advertising. This article will provide various design ideas to help you design the perfect billboard ad.
2. Billboard Copy
A billboard can be seen for just seven seconds! This is why it’s crucial to convey your message as fast as you can. It is advisable to use between 8 and 10 words for your entire advert!
Your message should be concise so that it will be easily understood by people who travel between 60 and 75 miles per hour through your billboard. This is why it’s crucial to include only the most crucial information on the billboard.
3. Copy Styles
The size of your copy is equally important. Your content must be large and clear to be easily read. Many people make their name larger and bolder than else so that it stands out. The best general rule to follow for the size of your copy is to ensure that your name is at a minimum of 3 feet tall and the remainder of the copy must be at a minimum of 2 feet.
Make sure you choose a font that’s extremely clear and simple to read. If you must stare at the word(s) for more than three seconds, the font isn’t sufficient in clarity. The thicker letter styles are more efficient than fonts that are thin and fancy. Create your own fonts However, ensure that they are easy to read and quickly.
4. Billboard Graphics
Of course, you can pick ordinary graphics, such as the image of your building or, if you are selling automobiles, include a photo of your most popular selling vehicle on the billboard. These ads are effective however unique, innovative hoardings printing will attract the most interest.
Choose a design that can cause people to turn their heads and consider a second glance at the ad. Whatever images you choose to display on your billboard, make sure that they’re large enough to be easily seen on the roads at very fast speeds.
The faster the speed limit the more detailed your graphics must be. If the object you are designing is complicated or intricate it should be huge, however, when it’s something that is easily identified by its fruit appearance it isn’t required to be as large.
5. Standards
There aren’t any correct or incorrect colours that you can choose for billboards. Red and yellow are excellent colours to convey important information since they draw attention. However, yellow and black advertisements yield the best results.
One of the rules for colour is to draw a contrast between the backgrounds with the copy. In other words, if the background appears dark, you should use a lighter copy, and the reverse is true. Make sure you don’t use a red copy over an orange background since the colours are so similar you won’t be able to see or be capable of reading the text.
Another great idea is to switch colours. One example is to create a dark background and an initial line in yellow, then the next line of text in the white then yellow text then white text, and the process continues.
6. Make Your Own Colours
Don’t be afraid to mix your background, or even add the occasional outline and drop shadow. It is important to be cautious not to use too many colours, shapes and other shapes. Since this could make your advert more difficult to understand.
Visual clutter is among the most frequently made design mistakes. Billboards that look sloppy will draw attention away. Make sure to choose colours that are appealing to the people you want to reach.
7. Simplicity
At this point, you’ll have all the info you require and more. It is important to make your entire advertisement as simple and clean as possible. Making things simpler could mean that you need to prioritise things and keep only the most essential things. This isn’t an easy job, but it’s certainly the most important thing to do.
8. Final Minute Ideas
If you’ve learned how to make money creating ads, make sure to inform your prospective customer how they can reach your business. Don’t try to make the advert appeal to every person. Make sure your layout is appealing to your intended audience. The response rate to your ads will be higher this way.
9. Proof-Read
Request that someone else examine your advertisement. Check if any portion in your advertisement seems unclear for them. It is also possible to ask them to describe the information they are able to discern at a glance.
Take note of their initial comments with care. Since billboards don’t get given enough time to make more than the initial impression. Then, the hoarding panel can be assessed using a different method. When using the replacement cost approach, value is evaluated by considering it as private property.
This approach avoids market problems and may help standardise the cost of billboards. Whatever your plan, whatever you choose to do, it is essential to assess the value that your billboard will bring. You might find it’s more efficient and more secure to trade in your lease contract for one lump amount.
