New York City reigns as one of the most popular and sought-after advertising markets in the world. It is a financial capital of the United States and more billionaires and millionaires live in New York City than in any other city in the country. In addition to the general market products that count New York City as a primary market for their goods and services, high-end goods manufacturers including automobiles, fashion, Condominiums, and even jewelry find that New York is a market that they cannot overlook or disregard.
But marketing in the city is challenging; the competition is fierce and the rates for advertising are the highest in the entire country. So getting in front of people with your products or services is certain to be an expensive proposition.
For this reason companies must be extremely careful about how they make their ad spends. There are a lot of different ways to advertise in New York City. What are the most popular, and which can give companies the best bang for their buck?
Billboard advertising breaks down to traditional and electronic billboards. When you walk around New York City you will notice that there are large billboards everywhere. In fact they are so numerous that if you took them away you probably wouldn’t recognize New York City anymore.
If you walk through Manhattan at night there’s so many electronic billboards that they nearly negate the need for street lights. New York remains one of the few cities where people actually look up all the time to marvel at the architecture and the tall buildings. As a result billboard advertising remains robust. In terms of cost, advertising on billboards in New York sits at the top end. Mini of the most sought after billboards cost more than $20,000 per month each.
The amount of people watching television has diminished over the past 15 years. There has also been an explosion in the amount of channels available to consumers. As a result the cost of advertising on television has decreased more than 20%. However television still remains the most expensive forms of advertising. New York City, with its 8 million inhabitants and love of television and televised sports can be an ideal market to purchase television advertising. The key is to be selective and to pick shows and times that reach your specific target market. This way you can be sure that the advertising investment you make will be well spent.
Online advertising ranges from social media marketing, to email marketing, to ads placed on popular platforms and websites. Today because of sophisticated analytics tools, ads on the internet can be targeted to any demographic and any location. This allows advertisers to direct their ads at any population in New York City. Similarly smart advertisers have learned to use social networking platforms like Facebook, Twitter, and Instagram to target specific markets and consumer groups that they find appealing.
Although the vast majority of New Yorkers are on the internet all the time, marketing to them can be difficult because of the amount of advertising being pushed. Consumers report advertising fatigue and a disdain for an abundance of online advertising. For this reason advertisers need to be creative and selective about how and when they advertise.
Joe Cianciotto New York advertising executive knows that the best course of action is to create ways where advertising is closely connected to exciting digital content. Benefits to advertisers is that digital marketing remains the most cost-effective form of advertising. In fact companies can often get started with a digital advertising campaign for less than $1,000.