OOH Digital – Steady Growth, Massive Opportunities
Like many above the line/traditional marketing mediums, the coming of age of digital applied to traditional outdoor signage has seen advertising spend in this area steadily improving. In a recent article produced by Ad News, they quote Charmaine Moldrich, CEO of the Outdoor Media Association, “OOH Digital comprises 25.6% of OOH advertising, with the expectation that by 2020 it will account for 48.2%. Nielsen studies support the growth of OOH which has seen an increase in ad spend by 22.8% year on year, the strongest growth experienced by any traditional medium.
That growth, according to PwC is likely due to a boost in population, urbanisation and infrastructure investments such as Sydney’s Light Rail Project, along with technological advancement within the medium itself. The industry has already made real-time and dynamic messaging part of the offer and has started turning its head further into the future eyeing off automation and eventually programmatic buying for its inventory.
In short, as Goa CEO and joint MD, Chris Tyquin said, “The world’s oldest medium has become the fastest. If 2015 was the year OOH(D) truly arrived in Australia, then 2016 looks pegged to be the year it comes into its own. OOH players are looking at the world around them and taking a greater view of how their product fits into the lives and societies they are a part of. OMA members are harnessing the amazing power of digital and other technologies to improve their offering to advertisers and to people experiencing their city.”
Chief among priorities for all OOH players has been building digital networks, which have seen a huge amount of capital investment for all players over that last 18 months. It’s also resulted in the launch of massive screen innovations for all firms including a move to the development of street furniture which provide opportunities to better target and engage with who, when and where based on a range of beacon and location based technology.
In the same article, Ad News provided a thought provoking insight into seamless mobile interaction with digital signage. Imagine a billboard that interacts with individual pedestrians, offering them compelling content to complement a sales message and the allow marketers to track the user journey from footpath to transaction. This is not just in the QR code and facial recognition technologies that required people to be in close proximity for interactivity, some other technologies being developed will allow this to be done remotely. One example noted was using Village Roadshow’s desire to promote a coming movie whereby people can view a trailer easily by interacting with the sign.
CEO of Contact Light Mike Boyd said, “Out of home at its core is still very much a branding medium, it hasn’t yet got that direct response yet. The engagement piece for us is where it become incredibly valuable because an advertiser you start to see some real value around the time of day, location and who the person is using the device. It is this power to gather better data that makes this technology so compelling, allowing advertisers more opportunities to engage with an audience and far richer insights into campaign effectiveness.
For any of your OOH or advertising or marketing strategy requirements, contact Hall of Fame Marketing Bendigo.Back to Blog and tagged Digital Marketing, Hall of Fame Marketing Bendigo, Out of Home OOH Advertising Bendigo