Google Local Ads Brings Bidding Features

Google has officially opened up Local Services Ads (LSAs) to auction-based pricing starting October 8th. Select customers were chosen to be a part of this beta test allowing us to test the auction-based bid strategy methodology to pay per-a-lead. This feature is currently only being tested with HVAC and Plumbing companies and will plan on releasing new verticals in the future.

The Meat & Potatoes

Currently, the bidding option available to everyone is made to be simple by setting up a weekly budget and letting their bidding system do the hard work for you (a flat rate of $25/lead). You simply put in a budget you’re willing to pay per week and turn the ad on. Here’s an example:

 

As of recent, for select beta users, you have the option to select a max dollar amount you want to pay-per-lead and override the “Google Bots” doing it for you. It might look like this in your account:

 

 

 

 

The selected advertisers don’t have to participate; they can continue using fixed pricing if desired and leave their weekly budget as is if they are unsure how to utilize the new feature.

What’s Next?

According to a Google spokesperson, “After seeing success with auction-based pricing within our professional services vertical for Local Services Ads, we are excited to bring auction-based pricing as a beta to select markets for local services advertisers. We believe this model will help bring more customers to this trusted group of advertisers.”

If you have any questions, reach out to our digital marketing team here at Optic Marketing Group. Our team has a list of all the cities that manual bid features will release in the upcoming weeks, just give us a call at  1-844-700-4781

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by Optic Marketing

The 3 Stages of the Media Buying Process

If you're unsure of what media buying is, it's when you buy ad space to promote your message. 

It's a way to reach your target market. 

In other words, a business that wants media buying should look for the lowest cost that offers the best placement. You want to pay less for people to see it the most. 

That's the most basic concept of media buying. However, there's a lot that goes into the strategy behind it. You need to know your target market, the placement of your ads, the conversion rate, brand awareness, and more. 

The better your strategy, the more likely your conversion rate will improve and you'll be able to generate sales. If you want a solid strategy, you need to know about the three stages of the media buying process. 

This article discusses these three stages and how they can help your business. 

Stage 1 

Stage 1 is pre-launching. 

That means figuring out all the nitty-gritty details before the launch. It's the research behind the launch that will make it successful. Here's all the research you should have compiled before you actually launch. 

Know Your Target Market

Understanding who you're targeting is key to any launch. You want to make sure the product or service is the perfect fit for the ideal customer. 

When you do have a target market, you need to segment them based on interests, age, demographics, as well as other factors. When you segment your audience, it enables you to send a more specific message. You can send more targeted messages. 

Here are some questions you should be asking about your target market: 

• What problems do they have? 
• Why would they shop at your business or use your services over others? 
• What are they thinking about that you could help them solve? 
• How do they book your services? 

These are just some of the questions to consider when understanding your target market. Ultimately, the more you know about your target market, the more you can help them. 

Who Are Your Competitors? 

After you figure out your target market, you will need to figure out who your competitors are and why some of the target market chooses to hire them instead of you. 

When you're researching your competitors, you need to figure out if they are targeting a different group and how they are advertising differently. Are they offering a service that you don’t offer? What about a rebate or special coupon? 

Choose Design and Figure Out Your Budget

Another key part of stage one of the media buying process is the actual design of your ad. You want to choose if your media will be on radio or television. You may decide to also do it on social media. 

After you decide, you need to figure out how your message is specifically designed for that media outlet because every one of them requires a unique message. 

You also want to set a specific budget to your marketing campaign. You will also have to prepare for unplanned expenses. 

If you want to see how we help businesses with the media buying process and our work with past clients, can check it out on our website. 

Stage 2

Stage 2 of the media buying process is the actual campaign launch. 

This is when your business monitors the campaign and sees if there are adjustments that need to be made. Although you know everything about your target market at this point, you will still need to see how they react to your advertisements. 

Worst case scenario, you may need to scrap the entire strategy if the conversion rate is horrible. 

But stage 2 is really about how to optimize the campaign. It's important to see how the consumers react and how you can change your campaign to reflect their behavior. That's why it's critical to continue monitoring any changes. 

Another important piece here is what happens after customers contact your business after seeing your advertisement. The ads generate the leads, but the internal sales and service teams are what closes the deal. So you will also want to check in on how you are doing during the process as well. If you are finding that leads are not turning into sales, this is where you will want to check for any areas of improvement. 

Call listening and call handling are important components of this step, especially in the home services and HVAC industry. In fact, they can make or break your bottom line. You can read our full guide on customer service call handling tips here. 

Stage 3 

Stage 3 of the media buying process is post-launch. 

This is when you figure out what went wrong and right after adjustments were made during the launch. It's a time for discussion and seeing what your conversion rate was. 

You should also assess what your ROI was and if it was better than anticipated. You can also evaluate the daily ROI and why it was better on some days during the launch. 

After you've done a thorough assessment of your campaign, you can have an idea of what to do better next time. You can figure out if you need to change your audience or change the campaign messaging. 

In addition, don't forget to look at the data. It can provide you insight on what part of your segmented list purchased the most. You can also look out for trends. 

Overall, it's important to evaluate each stage of the media buying process. You want to ensure that your campaign is set up for success. The more analysis and preparation you put into each state can determine how successful your campaign is. 

 

Now You Know Everything About the Media Buying Process

Now you know everything about the three stages of the media buying process. These 3 stages can help you figure out how to be successful. It's important to take a deep dive into the research and figuring out who you're targeting. 

You also want to ensure you choose the right medium to express your campaign to the right audience. You should also take a careful look at the data and see how you can improve your next campaign. 

Now it's your turn to succeed with media buying. 

The media buying process is quite complex and can be a bit overwhelming, especially when you are just getting started. You can save a lot of time and money by hiring a professional who has this method down to a science. Contact Optic Marketing Group to get started with a mass media campaign for your HVAC or home services business.

 

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by Optic Marketing

A Guide to Billboard Advertising Costs in 2022

Updated October 2022

 

Are you an HVAC business owner looking to get more local customers for your business? Consider advertising on a giant billboard. Imagine how many people will see your company logo and learn about your business as they pass your billboard.

And if it's lit up at night, people will actually see your ad 24 hours a day. Capture viewers with a short attention-grabbing headline and you're sure to grow your business in a big way. 

While driving on the road or walking in your city, one can't help to notice a giant billboard above with your company name on it. By now your interest may be piqued.

And you're wondering what it costs to advertise on one of those big boys? In this post, you'll learn about billboard advertising costs and more about the benefits of advertising on a billboard. Let's get to it.

Billboard Advertising Costs By Region 

The price you'll pay for a billboard depends on the region where you live. Here's what you'll pay for a four-week period in five big cities:

• Los Angeles: In 2020 the average cost was $2,000 to 15,000 
  • Now in 2022 going into 2023
    • Bulletins have gone up 25%
    • Lesser increases across various different units in the market
    • Transit Shelters/Digital Transit Shelters/Jr. Posters have seen a slight reduction in cost
    • Cost Revision: $2,250 to $18,750

 

• New York: In 2020 the average cost was $3,000 to $20,000 
  • Now in 2022 going into 2023 
    • Bulletins have increased by around 35%
    • Transit/Jr Posters/Kiosks/Wall Units have seen a reduction in rate year over year
    • Digital Posters on high-arteries have seen a significant increase upward of 43%
    • Costs Revisions: $3,500 - $25,100

 

• Philadelphia: In 2020 the average cost was $1,500 to $12,000 
  • Now in 2022 going into 2023
    • Bulletins - saw a minimal cost increase of around 17% with Metro skyrocketing to a 42% upcharge
    • Transit Shelter/Junior Posters and Bike Kiosks showed significant decreases
    • Cost Revisions:  $3,500 - $25,100

 

• San Francisco: In 2020 the average cost was $2,000  to $12,000 
  • Now in 2022 going into 2023
    • Appears to be a very Strong Outdoor market
    • Digital/Static Posters and Bulletins have gone up from 36% in 2021 vs 2022
    • Junior Posters/Kiosks currently trending up also
    • Cost Revisions: $2,5000 - $16,800

 

• Chicago: In 2020 the average cost was $2,000  to $12,000 
  • Now in 2022 going into 2023
    • Digital/Static posters have increased by approximately 30 - 35% in 2021 vs 2022
    • Junior Posters, Digital Transit Shelters, and Wall Art have gone down by various percentages
    • Cost Revisions:  $2,300 - $15,000

As you can see, each city has a wide range, so it's easy to find a solution that suits your budget. Let's take a look at other factors that determine billboard advertising costs.

The Factors: How Much Does It Cost to Advertise on a Billboard?

The price you'll pay for a billboard ad depends on a few factors. One big one is the location. You've heard it before: location. location. location. Let's take a look.

The Visibility of the Billboard

When your billboard is highly visible, the costs reflect that. That's because more people will see your ad. This increases the likelihood of getting more business.

A highly visible spot could be near a traffic light where people in cars stop or on an open highway. You'll pay more for a billboard on the right-hand side because it's easier to see.

Another factor is the volume of traffic in the area. Is the billboard in a busy part of town such as a business district that gets a lot of traffic?

Or in an area that's part residential with fewer vehicles on the road? Both can serve you well because a residential neighborhood could be your customer base.

Cost Per Thousand Impressions (CPM)

Billboard ad costs are determined by something called CPM which means cost per thousand impressions. A billboard along the freeway with 400,000 impressions in a month will cost $2,000.

But when a billboard is located in a spot that gets 30,000 impressions, billboard advertising costs will equal around $600 a month for your ad. These metrics are calculated by travel surveys and studies.

Want to know more about CPM? Ask your advertising company for the CPM data. 

Billboard Pricing Is Typically Determined By Four-Week Intervals

Billboard pricing is based on four-week intervals rather than a month. This makes sense since some months have more weeks than other months.

Did a company give you a $1,500 annual quote? This means you're paying for 13 four-week intervals.

Production Costs

Aside from renting the actual billboard, you can also have it produced. Production rates vary depending on the size of the billboard your ad is on and the materials.

Prices range from around $250 to under $800. Here are some production estimates for vinyl which typically run half a dollar per square foot. 

• $64: Eight feet by 16 feet billboard
• $189: 10 feet by 36 feet billboard 
• $336: 14 feet by 48 feet billboard

Of course, these prices are rough estimates as of 2020. But you'll find they're fairly close or on the mark. 

Billboard Location

We talked about pricing in different U.S. cities. But pricing also depends on the area of the city the billboard is located. Let's learn more about pricing using the New York City area and Los Angeles as examples.

New York City

In New York City, a digital billboard in Times Square will remain posted for a two-week period rather than four weeks. The costs to advertise in Times Square range from $10,000 to $22,000. 

Want to put a billboard up in Soho? Then it will cost between $18,000 and $30,000 for four weeks. But think of how many people on foot and in their vehicles will see your HVAC company.

However, if you want to advertise your billboard on the highway, you'll pay less for your ad to be posted on a state highway than you would on a freeway. On a freeway, you'll have more eyes on it. More people means more traffic impressions. 

Los Angeles

Want to post a billboard in Los Angeles? You'll pay the highest prices in the hub of the famed Sunset Strip since so many people visit the area on foot and in vehicles. 

Costs range from $25,000  to $55,000. But if you want your billboard on Sunset Blvd, you'll advertising costs range between $15,000 to $35,000.

Want to target the trendy businesses of Melrose? Your billboard rental will cost around between $9,000 and $15,000. How about Hollywood Boulevard which houses many businesses and apartment buildings? Your costs will range from $7,000 to $13,000.

Put Your Name Up in Lights 

As you can probably imagine, pricing is often determined by size. If your billboard is 14 feet by 48 feet, that's 77 percent larger than a billboard that's 10 and a half feet by 36 feet. A larger billboard makes it easier to see your company name.

But imagine if people could see your billboard after dark? A lighted billboard means more impressions and more people reading your company name.

This will bring your company's name to their minds when their AC or heating system fails. Or when they're considering updating their HVAC system. Or when it's time to schedule regular maintenance.

Look Up High: Billboard Advertising Costs Revisited

Now you know more about billboard advertising costs. Advertising your business on a billboard is a great way to get leads for your company and boost sales.

Optic Marketing Group, a full-service HVAC marketing company can help find the perfect billboard location for the best price. Ready to get more eyes on your HVAC business and advertise on a billboard? Contact us today to get started. 

 

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by Optic Marketing

This Is the Importance of Advertising During a Recession

One of the first recessions dates back to 1857. One of the key things businesses need to remember with a recession is to never stop advertising. In fact, the cost to advertise your business will drop during a recession. 

That's why it's important to advertise during a recession. But there's also another value in advertising during a recession that can help it profit more than ever. 

Here's a guide that can offer some insight on the value of advertising during an economic downturn that can actually help your business. 

People Are Still Spending Money

Although a recession means there are people with fewer jobs, it doesn't mean they are spending less. They are still spending money, but they are choosing more wisely where to spend it. 

That's why it's vital to make sure your business stands out more than ever. It means your advertisements need to be more precise and accurate to your target market. 

You want to give people a reason to spend money on your business, especially if they are being more considerate of what they spend their money on. You either need to make your advertisements better or you need to make them more widespread so people see them more. 

Your Brand Matters More Than Ever

Another important thing to remember if you are advertising during a recession is that people are looking to spend on brands that they care about. They want to spend money on brands that care about them. 

That's why your brand's messaging matters more than ever. Your brand is the story you are telling your audience. It's what the customer feels when they buy your product. 

You have to make sure that the customer feels something positive and reassures them they are making a positive purchase. 

In addition, you need to make sure your brand stays on the top of everyone's mind. You want to outshine your competitors. You want to show how your brand offers the most to your customers. 

When it comes to brand, it's important to convey trust and authenticity. You want people to trust that your brand is better than your competitors. You also want to be authentic and show people that you care about them during a recession. 

Most importantly, you want to convey how stable your business is during the recession. You want to show people that they can trust you during a recession and that you're not going to go out of business. 

You can convey this trust by writing blog articles or it can show in your advertisements. Overall, you want to reassure people that you will be there for them. 

What to Keep In Mind During a Recession

When it comes to advertising during a recession, it's important to remember the key points to any marketing strategy. The goal is to help people through this difficult time from the recession. 

As you advertise on social media or anywhere, you want to remember the importance of what people are going through and empathize with them. Empathy can often go a long way. 

Here are some things to remember when you advertise during a recession.

Remember Who You Are Targeting. 

It's important to remember who you're targeting and what they are going through. You want to create a message that shows you care about their needs.

In addition, you also want to be sensitive to who you are targeting. Your advertisements should be slightly tweaked to reflect the recession. You don't want to assume people will buy from you because they have money. 

You want to assume people will buy from you because you care about them. 

Choose Your Advertising Wisely

While it's important to advertise during a recession, it doesn't mean you should blow your entire budgeting on every marketing campaign. You want to be precise and think about where people are hanging out. 

You should figure out what social media or advertising platform will give you the highest ROI. Or maybe an outdoor billboard would make the most sense as consumers are driving to their destinations rather than flying. 

You want to ensure that your marketing campaign is the most effective and not assume that everything will work because it's a recession. 

You can see what platforms are the best to advertise on for businesses with this blog post. 

Provide More Value

Lastly, it's crucial that you provide more value to your target market. 

If your target market needs more help than ever, then you should be willing to give it. That means writing more blog content, offering more guides, and showing people how you can help them. 

You want to give as much value to your core market because they will always think about your business and how you helped them. Providing value is a way to constantly remind them that you are there for them. 

Why Advertising During a Recession Is More Important Than Ever

Advertising during a recession can offer your business a lot of success. But you have to be sensitive and careful about how you craft our marketing campaign's message. 

You want to show people that you care about them rather than enticing them to always buy. If done right, your business can boom during a recession with the right kind of advertising. Yet it's important to understand the correct way to advertise. 

Marketing agencies like Optic Marketing Group who specialize in HVAC marketing, know exactly what you need to do to best advertise your services during a recession. If you want help with your marketing campaign, you can contact us here. 

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by Optic Marketing