OOH is the second most preferred media after print, as per a survey report by OAAA and Geopath. The report suggests that people now spend much of their time outside their homes, making OOH an important tool for marketers. Referring to the same report, nearly one-quarter of billboard viewers among the respondents to the survey said that they were motivated to visit a particular store that day because of an OOH ad message, and nearly one-third visited a retailer they saw on a billboard later that week. Half of the viewers reported receiving directional information from a billboard, and one-quarter said they immediately visited a business because of an OOH ad message.
Another report by Ipsos Media CT found that OOH advertising is more effective than radio, TV, or online display ads in generating both brand awareness and purchase intent. This is likely because outdoor ads are highly visible and can reach a wide audience.
Another research conducted by Nielsen found that consumers respond well to static outdoor advertising, with 68% of respondents saying they had noticed an ad in the last month. Static outdoor advertising is also seen as being more trustworthy than other forms of advertising, with 61% of respondents saying they believe ads on billboards and posters.
This trend will likely continue as outdoor advertising becomes more and more sophisticated. With technological advances, outdoor ads can now be targeted specifically to certain demographics, making them even more effective. And as ad budgets tighten, marketers are looking for more efficient ways to reach their target audiences by incorporating sharing economy measures in outdoor advertising, making it an increasingly attractive option.
There are now a number of companies that offer platforms that allow anyone to rent out space on their billboards or other outdoor media. This has led to a more decentralized and democratic form of outdoor advertising, where anyone can participate. The sharing economy in outdoor advertising is benefiting both advertisers and owners of outdoor media. Advertisers can get access to prime locations at a fraction of the cost of traditional methods, while owners of outdoor media can generate additional revenue by renting out their unused space.