The decision of how to calculate your foot traffic or drive-bys is something to ponder over.
As more and more options to skip over commercials on the TV or radio are becoming available people are losing out on getting their product or service into people’s minds. When you make the decision to put your product or services out in the advertising world you need to know how to calculate your market. With DEC going out the door and EOI coming in which one is better to calculate your traffic in the outdoor advertising competitive market.
EOI is the new way to calculate your traffic, Eyes on Impressions is more effective then DEC (Daily Effective Circulation). DEC will count the number of cars that drive by compared to the number of hours the billboard is illuminated. Whereas EOI will take into effect the size of the billboard, the age of the people in the cars, income, education and even their nationality. Your EOI count is going to be lower but also more accurate when you compare it with your DEC score. DEC really counts the number of people passing the ad and does not deduct for people who are not seeing or relating to the billboard.
We used to decide where to place our billboards for our company by deciding what location had the best traffic and drive-bys. Now when determining your placement for your billboard you need to decide who your product or service will be more attracted to and how your billboard portrays this. Once this is decided you do a calculation on how many people in the area, you are hoping to put the billboard up, are attracted to the billboard and decide if this location is worth the money.
When deciding if the billboard will benefit your business more than a TV commercial you need to decide if the location is a good one. Billboards will only be worth the money if you have it properly placed in a location that is good for your product or service. The billboard will sell itself if it has been placed in a good location and is attractive to the proper audience. If you just want a general number of people that are passing by the billboard then DEC is your way to calculate but if you are needing a more accurate number of who is walking or driving by and actually being reached by the billboard then EOI is your go to way to calculate.
Advertising companies are changing the way they are calculating the cost of their billboards. The companies are changing from just the amount of cars and traffic to the types of people who are in the area. The advertising and marketing companies are now charging based on the demand and the EOI calculations. EOI is the way of the future in calculating the people being reached in outdoor advertising.