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Top Billboard Company CEOs Talk the Future of OOH Advertising

Top Billboard Company CEOs Talk the Future of OOH Advertising

Top Billboard Company CEOs Talk the Future of OOH Advertising

The Out of Home (OOH) advertising industry is constantly evolving, so industry leaders are always looking for ways to improve and stay ahead of the game. At the 2023 OAAA Geopath Show, there was a CEO panel that included CEOs Sean Reilly (LAMR), Jeremy Male (OUT), and Scott Wells (CCO) who shared their thoughts on the current state of the industry and its future. Wells acknowledged that the first quarter of this year has been slow, but he believes that the pieces are in place for a good year. Meanwhile, Reilly expressed confidence in Lamar’s position, stating that if this is what a recession feels like, he will welcome another.

Measurement is a key issue for the industry, and all three CEOs emphasized the importance of getting the foundation right. Male welcomed the MRC’s accreditation process, which is similar to the model used in Europe. Wells pointed out that not all customers are obsessed with measurement, with many local customers able to see and feel the impact of OOH advertising on their business.

Finally, Jeremy Male emphasized the importance of talent in the industry, noting that a cycle of great new minds is vital for continued innovation and growth. Overall, the panel provided insight into the current state of the industry and the trends that will shape its future.

Source: Billboard Insider Article

The Power of Experiential Marketing Through Innovative OOH Billboards

The Power of Experiential Marketing Through Innovative OOH Billboards

With rapid advancements in technology, traditional marketing techniques are gradually being replaced by experimental strategies. Experiential marketing has emerged as a highly effective approach to engaging customers by providing a unique, immersive, and memorable experience. In recent years, many brands have developed billboards to implement experimental marketing by creating innovative ways to catch the attention of consumers.

McDonald’s is a great example of a company that has successfully utilized billboards to execute experimental marketing. In Sweden, McDonald’s created a food truck billboard that allowed customers to scan a QR code to view the menu and order food from the nearest outlet. Another innovative idea by McDonald’s was the walk-through billboard, where customers could walk up to a billboard and order food in London. These are just a few examples of how companies can leverage billboards for experimental marketing.

An article by financesonline.com states that 74% of consumers are more likely to purchase a product when engaged with experiential marketing. So it is important that brands focus on personalization and location while implementing experiential marketing, which helps establish a stronger emotional connection with their target audience, leading to increased brand loyalty and driving sales. Experiential marketing has the potential to create a buzz around the brand, resulting in greater brand awareness and a higher return on investment.

Sources:

Exchange4media- How Experiential Marketing is Making OOH More Appealing

Bizbash- Experiential Marketing Activations/Sponsorships

Thedrum- McDonald’s Use of Food Truck Billboards

How Brands Benefit From Advertising Near Large Sporting events

The Importance of OOH Advertising Near Sporting Events

On February 13th, the Super Bowl was hosted in Glendale, Arizona with the Kansas City Chiefs winning in the end, 38-35, against the Philadelphia Eagles. This large sporting event attracted well over 100,000 people that all traveled to Arizona to be part of the experience.

The large numbers of people coming into Glendale drove a significant increase in foot-traffic and more engagement with the valley’s OOH advertising market. Using OOH advertising in cities with these big events almost guarantees a growth in brand awareness and value. Companies are also able to target specific consumer segments with their advertising and sponsorship at these kinds of events making their message more memorable.

 

Overall, using OOH advertising in cities that host large sporting events like the Super Bowl can greatly increase recall and engagement. With events like the World Cup (2026) and Summer Olympics (2028) coming to Los Angeles in the near future, there is going to be an incredible opportunity for brands to leverage OOH advertising.

 

Landowners

OOH Protects Privacy Infographic

 

OOH can benefit from consumer privacy concerns 📱

Google announced that in 2023 they will end the use of 3rd party cookies. The mechanism by which websites track its visitors.

Ad Age estimates that deleting 3rd-party data will decrease online ad revenue by 50 to 60 percent and McKinsey warns that $10 billion in online publishers’ revenue is in danger.

With online advertisers needing to revamp their data-based advertisements, OOH shines as medium to cultivate consumer trust.

OOH, as an advertising medium, inherently respects consumers privacy. Even technology companies (think computer software, devices, etc.) realize the importance of OOH and are using it to develop consumer trust with Q2 ad spend up 321% (OAAA, 2022).

As online advertising goes through a restructuring, OOH should remain a stable investment throughout the next decade.

 

Learn more about how SignValue can help you with your OOH assets and property by contacting us at Info@signvalue.com or calling 480.657.8400.

Q4 Performance for the Big Three OOH Companies

Our Signvalue team has put together a visualization that demonstrates profits in OOH over the last 3 Years. We see that while everyone is still below pre-pandemic levels, billboards are back to pre-pandemic levels. We predict that it will trend even higher in future quarters due to the high levels of expected travel within the next year.