OOH Underspent Relative To Its Influence
Gail Chiasson, North American Editor
Clear Channel Outdoor Holdings Inc., in conjunction with MarketShare Partners, cross-marketing optimization company, has released Out-of-Home Advertising and the Retail Industry, a new report providing a comprehensive analysis into Out-of-Home’s marketing benefits for the retail sector, which include a broad, yet targeted reach to consumers-on-the-go, tailored brand messages for precise geographic locations and an opportunity to strengthen brand image.
The report also evaluates an ideal media mix, showcasing how OOH works synergistically with TV, radio, print, and online to increase sales, profit and return on investment with decreasing total spend.
“OOH offers a creative, interactive means to engage with consumers at a high impression frequency in desired targeted locations,” says Debbie Reichig, CCO’s senior vice-president of business development and marketing. “Retail is experiencing a crucial return to health, consumer confidence is showing signs of improvement and forward-thinking retailers are increasingly embracing the Outdoor medium as a means to revitalize sales even further.”
MarketShare Partners developed a typical case scenario for a mature Big Box retailer based on actual data and learnings from MarketShare Planner. The Planner is a web-based expert system that furnishes marketing effectiveness analytics, which provide insight into OOH as an effective vehicle for marketers in the retail industry.
The case example shows how OOH is underspent relative to its influence and the incremental sales resulting from an increase in OOH spend is greater than what would be experienced with other marketing media. Overlaying a schedule of branded OOH ads can work in conjunction with the other media to make all the media more effective in reaching the consumer and driving sales. Moreover, in this case, the recommended OOH allocation is a five-fold increase going from $4 million to $20 million.
“Whether it’s used on its own or combined with other media to extend a brand’s reach, OOH is a prominent media player in the retail marketing mix – one that should be heavily considered when developing marketing programs, according to this new MarketShare Partners report,” says Rocky Sisson, CCO’s executive vice-president sales and marketing. “The advent of new digital technologies has also impacted the OOH advertising industry in a positive way, allowing for truly immersive technology that compels consumers to engage with brands.”
For more information and to receive the complete report, contact Reichig at debbiereichig@clearchannel.com.
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