Outdoor advertising is one of the most effective marketing methods to reach mass audiences. It is a form of marketing that uses physical outdoor space to promote products, services, or brand awareness. Billboards, bus shelters, and building wraps are all examples of outdoor advertising. Moreover, it can also be customized to target specific demographics.
However, it can be hard to measure the effectiveness of your campaigns. When you’re trying to decide the type of advertisements or where to put them, you need some idea of how effective they will be before spending your marketing budget. That’s where the role of analytics using programmatic Digital OOH comes into the picture.
According to a 2021 study by MicroStrategy, 60 percent of companies worldwide are using data to boost process and cost efficiency, 57 percent to drive strategy & change, and 52 percent to monitor and improve financial performance. The research also shows that, over the next three years, 71 percent of global enterprises predict their investments in analytics will accelerate further. Another study by BARC further pointed out that by using analytics, various global businesses were able to increase their revenue by an average of 8 percent and reduce their costs by 10 percent.
There are several methods to enhance OOH advertisement’s efficiency, such as selecting the right location, adding strong visual elements to portray your message, encouraging audience interaction, and programmatic DOOH. Now, let’s dive deeper into these methods, one by one.