Outdoor Advertising Trends
These days online digital metrics are throwing the challenge at the biggest Out-of-home (OOH) companies. There always exists a comparison between online and offline advertising, video which is daily viewed by 5 Million is considered as a huge success whereas if billboard advertisement claims 5 Million impressions, it is mentioned as “prime real estate”.
Other side TV and Newspaper advertising budgets are shrinking continuously and Outdoor advertising ad format is growing. This made the advertisers to be pushed towards pressure conditions to innovate new marketing ideas and other forms of advertising that make business and bring return-on-investment (ROI).
Current trend at the moment is Digital Out-of-Home (DOOH) and Programmatic advertising. Even though they were trending, they must thrive with a sophisticated data strategy that targets on effective implementation of Location Intelligence
The newly installed Data Officers and data scientists must go beyond the traditional data collection techniques to make Location Intelligence applied for their Outdoor Advertising strategy.
Trend #1: The help of third party data in DOOH domination
As per the predictions, DOOH will account 39% of total revenue in the Outdoor advertising domain by 2019 and become the leaders who recognize the space with effective spotting using location data are the basics in achieving in shifted gears of Outdoor advertising revenue to move from static outdoor advertising to dynamic outdoor advertising.
Clear Channel has exemplified with the third party data the cornerstone of their recently launched programmatic OOH buying tool, using a wide range of geolocated data from data specialists. They’ve also hinted at the use of private transactional data from banks.
Similarly, many media houses and advertisers are investing in geolocated mobile data insights and publishing advertisements in underground, subways etc – enabling them to move from simply selling ads to selling audiences by capturing the power of location data.
Both examples show that to deliver ROI on the hefty investments made on digital advertising infrastructure OOH players are expected to source data which enables them to monetize digital inventory through time stamped demographic insights.
An organization has approached us to understand about the campaign management in sense that the best place to advertise their newly launched product along with target customers in that particular area.
Trend #2: Location data props the Programmatic advertising
May be the programmatic advertising is termed as an industry standard in digital world, but OOH advertising is way behind in reaching the real time trading platform concept of “moment marketing” .
Offering digital boards is just like a small piece of building a digital OOH company. It is explained that building an inventory, measurement, and media-buying system are all fundamental to succeed in programmatic.
This is why many large OOH firms are turning to ad tech players in order to use their “audience-based targeting with location-based intelligence” to maximize relevance, engagement, and targeting for brands.
It is not that simple to tune the billions of location-based data from the transactional and mobile data into insights. It requires an advanced spatial analytics platform to digest and analyze the information. That made us to work on several platforms for capturing outdoor media space in building intuitive and robust applications, which make to analyze the insights easily.
Trend #3: Interaction in billboards points makes it sale
The last trend in OOH is Interaction – this happens promoting upgraded technologies like NFC, Beacons and Geo-fenced to make sales. This will eventually narrow the gap between online and offline in calculating the ROI through location based data.
It’s not about working in traditional Outdoor media marketing, the business giants like Google see the gap in their market on following traditional practices, to beat this gap, it has came up with certain plans and tied with other marketing giants and expanded its premium billboard ads through DoubleClick which enables programmatic buying in the target locations.
On times passed the DoubleClick is dominating the internet display advertising space, which is providing the widest reach and interaction with the audience and making the business into reality for the brands who are expecting interactions than impressions.
Applying analytics on location data sets is extremely important – but should be able to apply analytics over a geospatial across the inventory which will be critical in maintaining its growth as we are in a ground where consumers are stick their face at mobile phone more than the billboard. At the end Location Intelligence is one of the most important pillars of Outdoor Media Advertising for an individual or a Brand
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