Recent studies by a global media buying agency reveals that the global outdoor advertising spending will grow to $40.6 billion in 2020. This is $4 billion more than the projected figures for print advertising. This is the first time that OOH advertising spending will surpass the print advertising numbers. According to the studies, this is just the beginning. Outdoor advertising is supposed to grow at the rate of 2.5 to 4% annually. So what is working well for OOH Advertising?
Improved Measurement – All these years, outdoor advertising was done without measuring the results. It was just done for the sake of brand building. Right now, with the advent of technology, you can measure the eyeballs for your advertisements, qualified impressions and a lot more.
No decline in audience – In the case of print ads and television ads, the audience levels have fallen multi-fold in recent years. When it comes to OOH advertising, the numbers have been actually growing. People spend more and more time outdoors and this means that the time to engage them with outdoor ads is increasing.
Affordability – Outdoor advertisements are affordable and cost-effective. The ROI on OOH advertisements is much higher than other channels of advertising.
Creativity – With more and more designing applications coming to the fore and different engagement techniques, the creativity factor has gone up quite a few notches in outdoor advertising. This means that it is an effective channel in brand building as well as lead generation.
Outdoor advertising is here to stay. The key to success with your OOH advertising campaigns is to adapt with the latest technology and to come up with innovative designs and plan your advertisements in key spots.