Maximizing Out-of-Home Advertising Revenue through Data Leveraging
September 22, 2022
“Data will continue to be necessary, as we are no longer only convincing CMOs; companies are increasingly more focused on the bottom line & ROI, making it just as important for Out of Home Advertising programs and investments to impress CFOs.”
As measurement & attribution become more advanced, the story of Out-of-Home's effectiveness will further support and drive revenue to the channel. Why? Marketers often find themselves in limbo - recognizing the effectiveness of OOH, but uncertain how to measure how many people actually saw their ad, and what influences their viewers. With the capability to leverage geo-location data for attribution, targeting and measurement, marketers can now build a more comprehensive picture of the movement of their audiences. This allows them to measure their exposure to OOH, and how meaningfully this can impact brand lift, store and website visitation, and ultimately conversion.
We have already seen increased spend within the channel since rebounding from the Covid 19 Pandemic, and recognize that there is an innate love for the compelling, one-to-many canvas that OOH provides to brands. Data & attribution can only further fuel the rise of Out-of-Home investment amongst established, and new and emerging brands. Overall, Out-of-Home advertising is experiencing a resurgence following the pandemic, including 11% growth projected for 2022 YOY, according to the Outdoor Advertising Association of America.
Data will continue to be necessary, as we are no longer only convincing CMOs; companies are increasingly more focused on the bottom line & ROI, making it just as important for Out of Home Advertising programs and investments to impress CFOs. With financial markets in flux and concerns over a potential recession, emphasis on being able to directly attribute spend to conversion is going to be even more imperative to rationalize OOH investment. While studies have shown that brands who pull advertising during economic downturns take longer to bounce back than brands who maintain a presence, the additional data will be invaluable to help businesses make tough decisions more easily, recession or not.
