The retirement at the end of last year [1] of Joe Philport, longtime TAB [2] President & CEO, and the subsequent leadership transition – including the naming of Nancy Fletcher, Outdoor Advertising Association of America [3]president, as interim TAB president – provided TAB with a valuable opportunity to address the changing needs of the OOH industry in a new media landscape.
Fletcher says that her dual role has been extended by both boards to run through May, which means that she will wear both hats until after the joint TAB/OAAA Convention and Expo [4] being held May 11-13, 2015, at the Manchester Grand Hyatt Hotel [5] in San Diego.
“The strategic review at TAB is completed and we have commenced a search for a new TAB president,” says Fletcher.
The TAB Board of Directors selected Sequent Partners [6] to facilitate a strategic review of industry measurement needs. A TAB Leaders Taskforce was then convened to set the course for an enriched measurement system, as well as a new leadership plan.
In January, TAB issued an RFP inviting research, data, and software providers to work with TAB in developing the next generation of research capabilities for the OOH industry. Nearly 60 leading-edge firms were involved in the RFP process, showing the latest solutions in the marketplace. Subsequently, TAB recruited an Evaluation Committee made up of researchers and data experts to review each proposal and make recommendations to the TAB Leaders Taskforce.
These are their three key findings:
- TAB has chosen a path forward that includes a number of options still to be explored and refined. TAB’s immediate focus turns to recruiting a new president to lead the implementation of the new blueprint for TAB;
- The strategic review process reinforced that TAB ratings are strong, but there are opportunities to utilize innovative technology to further enhance the ratings;
- TAB fully commits to making further enhancements to TAB Out of Home Ratings (while reaffirming its commitment to training and education) to help foster consistent, industry-wide use of the ratings.
TAB’s goal from the outset was to make this process as transparent as possible to ensure members and other stakeholders understand they are an important part of this ongoing effort. The current ratings system provides TAB with a strong foundation for moving forward into a world of big data and a changing advertising ecosystem, one that includes digital, mobile, and social media.
TAB Board of Directors thanks the research, data, and software providers that submitted proposals as part of the strategic review process.
“Throughout this process, TAB was pleased to learn about innovations offering new insights about travel and OOH media that we know can bring great value our industry,” says Mary Sheehan, chair of the TAB. “Under new leadership, we will be able to better identify and bring new products to market to make our industry even stronger.”
TAB Board of Directors also thanks the Leaders Taskforce and Evaluation Committee for their leadership and assistance. Their work will help move the OOH industry forward and further bolster TAB as it prepares to meet the new challenges that lie ahead.