5 Facts About Out Of Home Advertising
Out-of-home advertising is becoming increasingly popular, to the point that it is displacing certain more traditional media formats. Effective OOH ads have demonstrated a number of advantages, the first of which is the ability to leverage location to gain an edge and focus on context. This aids in the delivery of a more memorable message at the right time and place. A well-targeted OOH ad can increase retail foot traffic, enhance brand awareness, or encourage prospective buyers to make a purchase right away.
But don't take our word for it; here are five facts that lead us to believe that if location analysis is prioritised as a core part of media owners' and planners' plans, OOH may continue to expand.
1) Out-of-home advertising is currently worth £700 million in the UK, which is projected to grow by 36.9% throughout 2021 and a further 19.2% in 2022.
One of the reasons for the increase in OOH advertising is that marketers are comparing OOH – particularly digital out-of-home (DOOH) – to other media formats and discovering that, when done right, OOH is relatively inexpensive and has a higher ROI than other, more traditional media forms.
As a result, according to the Digital Place-Based Advertising Association's (DPAA) annual survey of media planners, 60% of media planners are integrating DOOH advertising in their media planning.
2) OOH is outperforming other traditional media formats.
One of the reasons out-of-home is outperforming other traditional media formats, according to new market research from MAGNA and RAPPORT, is its capacity to hold an audience. OOH is not as affected by the digital revolution as other forms of media, such as editorial media. This is partly due to the fact that out-of-home is one of the few channels that guarantees exposure to a captive audience.
Consumers are more attached to their mobile devices than ever before, as they are always on the go (take for example a Deloitte survey which noted that 89 per cent of smartphone users say they use their phones whilst watching TV). This has a direct impact on the OOH format since it helps it retain its reach and audience.
3) Mobile click-through rates increase when supported by OOH ads.
To be more precise, CTR improves by 15%! OOH, advertising has the advantage of being an effective media format for implementing cross-channel strategy. Due to the enormous reach of both OOH and DOOH, every prospective client who has been exposed to the ad in question can be retargeted via their mobile phone with a follow-up ad or CTA using geotargeting.
Many marketers' tactics include geotargeting, which allows them to make more accurate decisions based on the spatial context of their target consumers.
4) 46% of consumers used a search engine after seeing an OOH ad.
According to Nielsen's Ads Driving Online Activity Survey, approximately 5 out of 10 adults use Google, Bing, or other Internet search engines to look up information on an advertisement they just saw or heard in an OOH format. They compare this to the 36% of persons who used a search engine after seeing an online banner ad. Advertisers may be more confident in their OOH investments since they will be driving a higher level of brand engagement.
5) The future of DOOH advertising is data-driven.
The world of OOH advertising is becoming increasingly data-driven, with the use of location data for targeting and measurement being one of the most significant advancements in the industry. More data-driven planning is being used by media planners and marketers alike, with the ability to demonstrate tangible results.
A new type of audience targeting, known as "hyper-targeted" programmatic ad placement, is emerging as a result of advancements in modern, real-time data streams. Brands and agencies can now offer tailored advertising material to an equally curated audience thanks to new location data streams.
These data streams, when combined with the most up-to-date DOOH and MarTech solutions, allow for more creativity. DOOH can now use geolocation data to gather insights and update digital billboards and outdoor media formats in real time, adapting content to weather, time of day, traffic conditions, and even the direction that people are moving in.
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