Expected to be worth $50bn by 2026 – how DOOH advertising is taking over the world
We all know how unreliable the British weather is. For food brands advertising their new range of ice creams on billboards in July, this can be a difficult pill to swallow. Especially when it starts raining and suddenly that expertly crafted ad has a much lower chance of converting. But what if there was a solution to static, potentially irrelevant billboards? What if advertisers had the power to tailor their OOH (out-of-home) ads at a moment’s notice?
That’s right. Today, we’re talking about DOOH (digital-out-of-home) ads.
In 2001, the first digital billboard appeared in Louisiana, USA. In 2019, the DOOH advertising industry was valued at approximately $8.1billion, and pre-COVID projections expected this number to double or triple by 2023. Meanwhile, a more recent study conducted by Alfi Global Research suggests that DOOH could soar to over $50 billion by just as soon as 2026. In only two decades, DOOH advertising has become a force to be reckoned with. Here’s why all advertisers should consider DOOH campaigns.
But, first of all, let’s clarify what DOOH (digital out-of-home) advertising is.
Putting the Ooh! In DOOH
Think of DOOH as out-of-home advertising’s younger, more analytical sibling. DOOH, or digital-out-of-home advertising, refers to digital ads that take place out of the home and away from phones/tablets/etc, such as digital billboards.
But DOOH is a lot more than just digital billboards. Airports, railways and underground stations, street furniture, digital taxis and specific locations such as shopping malls or office buildings can all contain DOOH ads to target specific consumers. Here are the benefits of DOOH advertising for advertisers and brands:
Simple and Efficient
What draws advertisers to digital advertising is how simple and fluid it is to create, run and tailor ads for specific audiences. Now, with DOOH technology only getting bigger, better and more streamlined, advertisers can create innovative OOH campaigns with the same benefits. This also includes staying relevant by targeting and retargeting consumers.
2. Targeting and Retargeting
DOOH ads allow advertisers to put their product/service in front of consumers in an engaging way. But whether the consumer will become excited about the product/service cannot be predicted. While advertisers cannot specifically target small audiences, they can use their knowledge of the ad’s location, as well as what consumers are likely to pass by at which time of day, to target specific consumers. The real benefit here is in the ability of advertisers to use their DOOH ads to retarget consumers. One example of this is geofencing. Through establishing and monitoring a boundary around a board, personalised messages can be sent to consumers who walked past the ad.This also allows advertisers to get a better idea about which target demographics are where at which time – which helps to improve targeting.
3. Higher Engagement
DOOH advertising not only allows advertisers to monitor and finetune their OOH ads, but it also presents advertisers the chance to make creative ads that transfix consumers.
With DOOH advertising, the possibilities are endless!
To learn more about DOOH Advertising is Taking Over the World, get in contact today.
