Upgrade Your Digital Billboard and Achieve Sustainable Business Growth
Summary: In this complete guide, independent operators can learn to recognize the telltale signs of digital billboard deterioration, the benefits of replacing digital billboards and aging equipment, as well as every step needed to successfully upgrade.
Your Signs Are Precious Assets
Media fragmentation has made it increasingly difficult for advertisers to reach their target audiences. The great thing about digital billboards is that they reach people no matter how they choose to consume media. The truth is the value has never been more relevant.
- Even with the unprecedented circumstances of stay-at-home orders, advertisers still enjoyed a 10% year-over-year growth from billboard advertising – and this trend is expected to continue through 2021.
- A recent study reveals that for every dollar spent on billboard advertising, that company earns $5.97 in product sales. That’s 497% ROI.
As a seasoned operator, you understand the profound value of digital billboard advertising. But what happens when your board doesn’t glow like it used to?
4 Signs it’s Time to Replace Your Digital Billboard
Right now there’s plenty of buzz in the industry about replacing digital billboards. Early providers had undeniably great products and offers, but that was nearly a decade ago, and those LEDs weren’t designed to last forever. In fact, if your billboard is 10 years or older it’s time for a replacement.
Most operators have a wise if it ain’t broke mentality when it comes to their fleet. Even if your signs haven’t broken yet, there are clues to recognize as your assets reach end of life. If you can recognize these signs now, it could save you trouble down the road.
Tile Replacement Has Already Begun
Patchwork solutions can only take you so far. Considering that legacy supplies are becoming increasingly scarce, tile replacement is a clear indication that your billboard is starting to kick. Would you rather continue spending a fortune on tiles or invest in a lasting product?
Downtime Repairs Are Costing You
If bad tiles or power supplies are causing large outages on the face of your billboard and force a temporary shutdown of ads, you may have to compensate your clients. Doling out credits to your clients is not a sustainable solution. They may become dissatisfied with the level of service, especially if it seems ads are always under repair. Waning satisfaction may cause a discerning client to look elsewhere for services.
Clients Are Less Satisfied
It’s no secret that electronic billboard technology has improved light-years over the past decade. If your competitors around the corner offer brighter, crisper images, your clients are likely starting to notice. The quality difference between your legacy sign and your competitor’s new model may be dramatic.
Many operators have local customers who drive by their advertisement daily. If the LEDs are below or nearing 3,500 IT, the sign is becoming illegible. A dim sign just gives your customers a reason to take their business up the road.
Signs Aren’t Built to Last Forever
Most legacy signs were designed to last around a decade. If you’re finding work orders and repairs ramping up, it might be time to seek out a more sustainable solution. Doing so can have a number of benefits, which we’ll unpack in the next section.
How Upgrading Your Billboard Can Transform Your Business
There comes a time when every operator has to make the tough decision: do I wait to upgrade my signs and risk losing business or invest time, energy and money into a revamp project? Eventually, you will decide the latter – either by choice or by necessity.
You might already be tired of relying on replacement parts and labor. Or, perhaps you simply want to do right by your customers with a superior product. Regardless, there are plenty of reasons to feel confident about taking the next step. Replacing your digital billboards can actually boost business – in more ways than one.
Slashed Maintenance Fees
Upgrading your equipment means relinquishing patchwork solutions. Not only will your maintenance costs be eliminated today, newer technology is far more robust than digital billboards installed a decade ago, meaning you’ll pay less in maintenance costs over time.
We can’t speak for our competitors, but Formetco signs come with a ten-year guarantee, allowing operators like you to avoid maintenance costs for years to come.
Your customers rely on you and your signs for new and repeat business. Now you can continue to earn their trust by offering the best technology to display their content.
It’s hard to plan for the future when your inventory is degrading. Clients are starting to notice, and you might be understandably nervous about the future. Who wants to pay for a dull ad?
Leading digital billboard manufacturers have developed state-of-the-art products with tight, crisp resolution and durable hardware. The best way to future-proof your business is to gain a competitive edge with a superior, reliable offer.
Heck, It Isn’t as Expensive as You Think
The thought of replacing a digital billboard – one that is already fully paid off – may seem less than ideal. But when you factor in the inevitable downtime of repairs costing you (or will cost you) time, money, and reputation with your clients, the investment starts to make more and more sense.
Legacy digital billboard manufacturers didn’t design components to last forever. Most operators eventually realize that it’s best to plan ahead and replace your assets with as little downtime as possible.
The good news is that new technology has several cost-saving features. New components are more durable and easier to repair, not to mention dramatically more efficient What used to run over $800 per month is now under $200, saving operators upwards of $7k per year.
While the newer signs come with feature-rich functionality that can save operators time and money, probably the best news is that replacement itself isn’t as expensive as you’d expect.
Digital billboard costs were once large upfront expenditures. Today operators can finance every element of replacement for a manageable monthly payment. Continue reading or visit our page on financing a digital billboard to learn more about the steps to replace a billboard.
Billboard Replacement Checklist
The time has come to replace some of the digital billboards in your inventory. You might be tired of waiting on parts and specialized labor. Or, perhaps you’ve had one too many tough calls with clients about downtime and why their ads don’t shine like before.
Regardless of the reasons you’re looking for digital billboard manufacturers and resources, upgrading your inventory is the right move for the future of your business. Digital billboard technology has improved tremendously since your last purchase. Newer signs shine brighter and last longer than the previous generation. Upgrading means you’ll be doing right by your customers by offering the best digital ad displays money can buy.
That said, now there is plenty to do. Your replacement project involves a laundry list of collaborators and boxes to check. Here’s our breakdown of everything operators need to consider before purchasing a replacement digital billboard.
The Operator To-Do List for Replacing Digital Billboards
- Get Quotes
You’ll want multiple quotes and thorough vetting of vendors for every stage of the process. Teams that are generally involved with your replacement include:
- Crane operator
- Structure & groundwork
- Disposal of old sign
- Digital sign manufacturer
- Installation labor
- Arrange Financing
Decide how to fund the billboard replacement project without tying up cash flow. For example, consider a specialty lender who focuses on capital investments in the billboard industry.
- Crunch the Numbers
As a savvy operator, you want to double and triple-check that your quotes align with your target investment. Your signs are valuable assets, and it’s important to ensure this investment will serve your business for years to come.
- Manage Client Expectations
Now is the time to have an open dialogue with your clients about any potential downtime their ads may experience. This is also a prime opportunity to communicate the value of your improved offer.
How to Make the Process Less Daunting
Independent operators often find replacement projects difficult. There are so many moving parts – and operators with multiple signs are even more hard strapped for time and resources to successfully execute every detail.
Over the years, Formetco has worked with countless independent operators who are eager to find the best solutions for their customers but lack the resources and expertise to commit to a replacement project.
To fill this gap in the industry, we created the Replace Your Face Financing Program. Rather than forcing operators to invest up front in time, money and resources, we created a better solution.
Discover the Easiest Method of Replacing Digital Billboards
Replace Your Face is the only turnkey financing program that frees operators from the burden of project management.
For one low monthly payment, you can focus on your core responsibilities and allow the experts at Formetco to handle every detail. Our network of certified installers will handle every aspect of your project—from tear down to installation – with a payment plan that works for you.
This is the easiest way to replace aging signs and pay for the project over time.
Large projects no longer require large outlays of capital. Contact an experienced representative to upgrade your digital billboard assets and future proof your business today.