It could help. I've seen bitcoin billboards and other advertisements; even on taxi cabs:
http://imgur.com/tycvQTe I think for billboards, it shouldn't contain too much info--people won't be able to read it while driving. Hopefully all the advertisements for bitcoin will get people interested and start using it more.
Billboards might not be the best idea at the moment, but starting with commercials, explaining how and what, could help. Implementing links in facebook and such...