What makes advertising to condo residents special? Why target this demographic over commuters passing billboards, social media lovers flicking through their phones, or TV fans watching their favourite show? In this article, we outline 3 powerful reasons.
A lot of traditional advertising could be viewed as intrusive. We want to get to our favourite TV show but have to sit through ads, we want to click on a website but get popup banners. In each case, the ads are an unwelcome distraction. Ads in condos are different.
Imagine you are in a long elevator counting down the seconds to your floor, or sitting in a lobby waiting for someone. You are likely bored and keen to avoid awkward small talk. An engaging digital screen with promotions tailored towards you and your local area is suddenly a welcome distraction. Your attention is undivided and you want to find out more. This is why digital signage has recall rates of 52% vs TV at 30%, radio at 27% and magazines at 21%. Each one of our screens averages 360 clicks every day!
It takes time for a message to sink in and compel us to make an action. So, ads need to be seen a few times before you can expect results. This can get pretty difficult. How do you know what radio shows people listen to? What magazines they read? Sure, they may tune into a certain TV series or subscribe to a magazine but these are often days or weeks apart, your message could be forgotten.
Condo ads have an advantage. People live there, so they will be viewing your message on a daily basis. Your ads will be shown on average 360 times per screen per day (1440 per building per day), enabling you to build up recognition and a relationship, so residents are ready to buy when they walk out the door.
Making somebody want your product or service is only half the battle, they also need to have the money to buy. Condo residents offer a distinct advantage here. Here are some key stats:
– Over 75% are affluent with high purchasing power
– 79% are aged between 20 and 50
– 95% of condo residents own at least 1 vehicle.