Surprising facts of out-of-home advertising
It came as a surprise that 25% of the top 100 spenders in Out of Home Advertising is the Tech companies. This 25% in the category are the Tech giants like Apple, Google, Snapchat, and Facebook. There has been increase up to 3.1% in the OOH advertising revenue in 2016, as per the Outdoor Advertising Association of America.
In the past, there was not much innovation and growth in this sector, but now this category is in the middle of exciting transformation and innovation integrating new technologies and leveraging data in unique ways.
Although OOH Advertising is the oldest form of advertising by Advertising Agency, yet its ability to collect information about the movement of people as they move and utilize data on a level playing field with PC and mobile advertisements empowers it to a great extent. There are many ways in which the Geolocation data is being integrated into measurement, campaign, planning and outcomes. Some of them are:
- Targeting or focussing on the right kind of audience: Due to the advancement in technology, the industry is able to understand the buying nature of people, the retail locations they are visiting, the number and types of mobile apps they are installing, all these have given a fair idea about the behavioural nature of the people helping the OOH industry to target the right kind of people at the right place and time.
- Optimization through creativity: After understanding the right kind of people, advertisers can focus on the innovative ideas for advertisements based on the variety of inputs like traffic volume, weather, search queries and social network posts.
- Currency: Through Geopath, this industry has made prominent investment in the development of granular, robust, mobile data based currency solution.
- Attribution: Whether or not an individual made any decision based on the media planning for OOH advertisement, can be found out utilizing device level information.
- Mobile retargeting: In new ways, OOH advertising and mobile is working hand in hand. Being able to identify devices that have been exposed to OOH, advertisers retarget those devices with mobile ads later on.
2017 is an evolutionary year for OOH advertising industry. The big leaders believe that it has brought dramatic advancements in the way how OOH media is planned, purchased and consumed.