Out-of-home ad formats continue to perform for marketers. But, could those transit signs and billboards be doing even more for your clients’ bottom lines? The Outdoor Advertising Association of America (OAAA) teamed up with Omnicom Media Group Benchmarketing to find out.
We should always cast a wary eye on studies funded by organizations with a vested interest in the outcome. In this case, Omnicom’s participation adds legitimacy to the OAAA study. Also, this research has covered a two-year period. Last year’s outcome showed that every dollar a marketer invested in OOH formats yielded $5.97 in additional revenue.
Those findings prompted researchers to question whether the current average 4.8% of media budgets currently allocated to OOH is sufficient. This year’s study measured OOH’s impact on several important consumer path-to-purchase metrics. Analysts focused on specific business sectors ranging from automotive to restaurants to grocery stores. The study results showed that OOH has the biggest effect on:
As consumers go about their everyday lives, your clients’ OOH ads make them aware of specific products and service providers. Consumers discuss these products with friends and family members and then, they make purchases.
An investment in OOH advertising can be amplified by using other formats in an ad campaign. The OOH Media Mix Optimization report found that using OOH advertising in conjunction with print and search, increases the effectiveness of these formats by 14% and 40%, respectively.
Your clients can improve their outcomes even more by boosting their overall allocation for OOH. The optimal spending levels for each advertising goal for marketers with budgets ranging from $5M to $60M break out as follows:
- Ad Awareness 12%
- Brand Awareness 16%
- Consideration 17%
- Recommendation 17%
- Purchase Intent 13%
Your clients can also turbocharge their campaign effectiveness by targeting Out-of-Home Ad Responders. Access the profile for this audience on AdMall from SalesFuel.