One popular technique to advertise your company or product is through mall advertising. With this marketing approach, your company will have the ability to market on billboards situated inside the shopping center, generally within the pathways.
Just how much does shopping mall marketing cost?
The price of marketing within the shopping mall will depend upon the mall, season, the placement of the billboard within the shopping mall, and for how long you plan on advertising. Typically, advertising rates within the mall can vary from $700 to as much as $15,000 each month. Usually, the longer your advertising contract is, the more you are going to save. The majority of shopping malls, typically, will request a minimum contract length of at the very least 6 to 12 months.
A backlit diorama, the most typical advertising choice, will be the rectangle box-shaped ads that sit vertically on the walkway. Every couple of seconds, the ad changes, turning through 4 to 6 advertisements at a time. Something like this, depending upon the shopping mall can cost as low as $600 and as high as $3,000 each month. Some media groups note it can cost $750 to $2,500 per four-week duration at most known shopping centers and malls in the United States.
For a basic poster that sits on a stand near the escalators, for instance, the cost can vary from $500 to $2,000 monthly. A taller sign that measures 6 feet high and is positioned near a highly trafficked location, such as the food court, can cost $800 to $4,500 a month.
Some shopping malls provide flooring decals that apply to the floor, very similar to window clings. These tend to be sticker labels that measure 3 feet in size and can cost $1,000 to $6,000 monthly.
For an indoor banner that hangs from the ceiling, the expense tends to be greater and can reach upwards of $3,500 to $10,000 a month. Some shopping centers also allow outside banners that can hang outside the mall, and these advertisements can cost $4,000 to $12,000 a month. At the Mall of America, a month-long campaign can cost $10,000 each month for one banner or $18,000 monthly for 2 banners.
An elevator wrap, which can either be wrapped around the interior or exterior of the elevator, can cost $500 to $2,000 each month.
For empty or vacant kiosks and even some windows, lots of malls will enable local businesses and shops to install a short-term screen. These display screens can cost anywhere from $500 to $2,500 a month.
To see an example, the CambridgeSide Galleria has a list of their marketing rates within their shopping mall. For instance, a basic 22″ x 28″ poster can cost $600 monthly, while an interior banner inside this shopping mall retails for $3,000 plus $500 for its installation.
Mall advertising choices
Mall advertising can be performed in a range of ways, however, the most typical tend to be with the help of a backlit diorama, a banner hanging from the ceiling, an elevator wrap, or even on a tabletop in the food court. The majority of ads will be near anchor stores, elevators, escalators, and food courts. Units can be 2, 3, and even four-sided with backlighting capabilities for optimal exposure. At some places, video and/or digital display screens are readily available.
Before an ad agreement is signed, a mall and/or ad agency should be able to go over where the ad will be put and the number of individuals that will see it in any given month.
What are the additional expenses?
The poster creation and design will be an extra cost to think about. Lots of shopping malls might have their own design creation service you can work with and the expenses will depend upon the complexity of the design.
Outside and indoor banners will usually have an installation charge set by the shopping mall and can cost $300 to $1,100.
Tips to keep in mind
If you were to work with an advertising agency instead of dealing with a shopping center directly, some might need you to buy a minimum of 10 to 15 ads at a time before they can work with you.
Some outdoor marketing specialists state that the typical shopping mall consumer visits 3 times each month and near 80 percent invest $65 on their 80-minute average trip.
How can you save some money?
The longer your signed contract is, the more you’re going to be able to spend. See just how much you can save if you were to sign a longer rental contract and pay upfront. At the same time, it is a great idea to get a smaller contract to check out if you can get a positive ROI. This way, you will save money by not paying for a long contract that turns up to be losing you on ROI.
Some malls offer federal government and non-profit companies discounted rates.