Despite uncertain economic prospects and a drastic decrease in ad spend across all sectors, the Out of Home marketing industry has grown exponentially for more than eight consecutive years.
According to the Outdoor Advertising Association of America, the astounding growth can largely be attributed to OOH marketings effectiveness, willingness to embrace innovation, and its “larger-than-life” impact on the consumer.
OOH Meets Experiential Marketing
Before the digital revolution, consumers were seemingly content with a static billboard advertisement or a commercial jingle. The 1990’s brought social media and Internet-connected mobile devices, which made traditional marketing nearly obsolete. Then something happened that marketers had been dreading, but were none-the-less expecting. Ad-blockers grew in popularity, and the results left Out of Home marketing as the only form of advertising still immune to ad-blockers and ad-blindness.
Thus, OOH marketing emerged as one of the few media platforms still positioned to create a positive marketing experience. Moreover, any marketer will tell you that the key to effective advertising is creating a positive emotional experience for the consumer.
There is only one problem. The static signage of traditional marketing simply does not compel today’s consumer like it used to.
Luckily, OOH marketers have embraced innovations in data, tech, and mobile integration to enable a truly interconnected and positive marketing experience for the consumer.
OOH & Tech Tie the Knot
The technology and digital sectors continue to invest heavily in Out of Home marketing. According to the OAAA, “a quarter of the top OOH advertisers are major tech brands”.
So why have the biggest tech giants like Amazon, Apple, Google, Verizon, and Netflix started investing heavily in Out of Home marketing? “OOH is growing at such a rate because it encourages a higher percentage of online activity per ad spend than any other form of marketing.” the OAAA report finds.
The same OAAA report also shows that OOH ads that are connected to social media channels and integrated with mobile technologies drive more sales and brand awareness than without this connection.
Digital Leads the Way
Marketers have discovered new ways to utilize data to develop targeted brand messaging that is more relevant to the consumer than ever before. OOH marketers are moving away from static 2D signage and providing the target audience with a multi-channel consumer experience.
Seamless Mobile Experience
Mobile and Out of Home marketing have converged and offer new ways of measuring metrics, like viewability, by connecting mobile campaigns to in-store sales. The seamless mobile experience offered by OOH marketing enables marketers to quantify the smartphones have been exposed to their ads and retarget specifically those devices.
As OOH marketers continue to embrace mobile integration, it will become easier for brands get their offers in front of the right consumers at the right time.
Predicted Ad Spend Growth
Experts agree that the economic uncertainty of 2017 is what ultimately lead to a decrease in ad spending across all sectors. As ad spend again begins to rise once again, Out of Home marketing remains poised to receive a large portion of that expected growth.
Even during economic downturn of 2017 and predicted decreases in CAD (computer aided drawings, i.e. animation) and radio broadcasting spend, experts still predicts a 3% growth in Out of Home marketing overall, driven by a whopping 13% YoY growth in digital Out of Home Marketing. According to Magna Global, OOH marketing is expected to grow by an average of nearly 15% in 2018 alone, and a steady growth trend is likely to continue in 2019.
The growth of the OOH marketing industry over previous years has been impressive to say the least, and has proven that Out of Home marketing is the best way to create brand awareness and foster engagement with the largest target audience possible.
Interested in Learning More about Out of Home Marketing? Contact Commoot today!