Investment in OOH will continue to grow in the coming years due to its effectiveness
In the last decade, the evolution of the advertising industry was fundamentally driven by technology and data, and the Out of Home -OOH- system was not only part of this evolution, but also consolidated as one of the most effective media in conversion and branding actions.
During 2021, advertising investment in OOH media in Spain grew up by 7.8% compared to the previous year, managing to reverse the descending curve left by the years of the pandemic and start the recovery of the sector with a total of 289.6 million euros, according to the report “Advertising investment in Spain 2022” by Virginia Sánchez Eguinoa -edited by InfoAdex-. Projections for the upcoming years continue to be positive: the statista.com website states that OOH will grow up steadily in the short term, climbing at least 11.6% by 2025 without including investment in mobile geofencing.
“In a context of omnichannel brand communication, OOH has the virtue of helping users define the purchase of a product or service. This power to intervene in the conversion phase is the great differential of the Out Of Home medium, which includes Digital Out of Home”, explained Valentín Bueno, CEO of Worldcom OOH. And he added: “In our case, we have more than 15 years transforming the cities of the world into message distribution channels, gigantic supermarkets for advertisers, so that brands can reach their audiences through the entire media offer that exists in OOH”.
Although the growth of digital devices in the OOH is progressive, fundamentally in large cities, today they are still only 5% of the world total. Beyond the possibility of building a differential and high-impact communication with other OOH supports, they manage to be a system of proven efficiency in conversion. We spend 70% of our time away from home, audiences exposed to OOH communication are 63% more likely to perform a brand action online (online purchase, web visit, search, app download), as indicated by WARC.
The improvement of technology allows us to know more about consumers. Data applied to the customer journey gives brands the ability to segment like never before and customize the experience.
“Together with our technological partner TDT, we developed Worldcom Media Services, a Marketplace for OOH campaigns, a comprehensive solution that provides an optimized planning service, since it has a powerful artificial intelligence engine that is capable of processing millions of records in the system and design audience mappings. Our commitment is to accompany advertisers so that they can make quick decisions based on accurate data”, explained the OOH media retail manager.
In this sense, Worldcom Media Services provides insights such as campaign histories, mobility data, OTS and records of 260,000 media in more than 2,500 cities, which enhance planning to impact audiences in a purchase context.
Consumers demand clear information, transparency and democratization in access to contents. Environmental awareness is growing up and consumers are increasingly demanding that brands to be aligned with sustainable actions.
“Worldcom OOH recycles almost 100 percent of analog campaign materials such as vinyl, fabric, polycarbonate and paper, and our Worldcom Media Services tool has incorporated the tons of reused surplus for each campaign as KPI,” said the manager.
Technology, innovation and creativity are the keys to an expanding medium.
The OOH offers as a competitive advantage the possibility of accompanying the consumer throughout the day. Due to its diversity, dynamism and intelligent use of data, the participation of OOH within the advertising cake continues to increase.
After the search ads in 2000 and the arrival of social media in the last decade, today OOH advertising is becoming relevant due to its high capacity to positively impact the level of conversion.
The incorporation of DOOH added the online advantages to the medium, preserving its power of impact, proximity to points of sale and integration with other channels.
Arriving at the right time with the right message is the great challenge that brands face today, and there is no doubt that OOH is the key to attend audiences at all times of their customer journey, which makes the medium continues to rise.