With the explosion in growth of new media, it’s more important than ever that advertisers be able to measure and optimize their out-of-home campaigns. With proper OOH measurement, advertisers can measure performance and leverage actionable campaign and audience insights for strategic planning.
2020: High Growth for New and Traditional Media
Let’s start with some background — new media is growing at a rapid rate. In its 2020 Advertising Outlook, Morgan Stanley reported that there is an expected growth of over 5% in US advertising this year, with digital spend accounting for more than 50%. However, there is also a steady growth happening within a traditional media channel: out-of-home. Morgan Stanley reported that 2019 was the fastest growing year for OOH advertising since 2007, and according to OAAA, OOH grew 7.7% from 2018 to 2019, bringing the total revenue to $2.7 billion.
The four major OOH channels — billboards, street furniture, transit, and place-based — all experienced growth. While new media is focused on and proud of the ability to target niche audiences, OOH finds strength in the ability to achieve mass reach. These billboards are not going unseen. In fact, Adweek reported that “Nielsen found 66% of U.S. travelers report taking an action on their smartphone after exposure to an OOH ad.” Brand awareness, search, and site traffic are all extremely valuable to a brand, but there is much value in measuring how the OOH medium succeeds in driving store visitation.
Location data has been crucial during the rise of digital media in order to measure online-to-offline conversions, but there is also a significant need in the space to measure offline-to-offline conversions. Thanks to Cuebiq’s first-party, SDK daily data collection, we are able to understand the real world success of campaigns.
Measuring the OOH Impact
What sets Cuebiq’s Measurement solution apart from others in the industry is our methodology and high-quality data. Our methodology ensures that we can accurately measure consumer ad exposure to OOH placements, which means that we work with our partners to better understand the placements of OOH ads to increase the accuracy of our exposed group (consumers exposed to OOH ads).
While there are different factors when it comes to OOH measurement versus other types of media (e.g. digital), the power of our data allows us to better understand consumer exposure so we can accurately calculate ROI. It also helps that our data is 100% first-party, only from app-direct relationships — giving us the quality and scale to effectively measure ROI for OOH advertising.
Interested in learning more about our methodology or OOH solution? Connect with an expert on our team today!