How Can The Out-Of-Home Industry Leverage Data In The New Normal
As addressed in our previous blog, the impact the coronavirus has had in the OOH industry has been massive. Some of the world's largest brands have been deeply affected, and advertisers are trying to determine how they can generate ROI during this time. But there is a simple solution to that. Data. Leveraging consumer and location data opens up a whole new world of insights for marketers in the OOH industry. Here's how.
Using Data as Tool
The major problem faced in the industry is the uncertainty and the unpredictability of consumer behaviour. And with the emergence of this new normal, this uncertainty has only increased. With major cities reopening in a phase-based manner, marketers need more tools to keep up. Movement has slowly begun in these cities and data and measurement can help identify movement patterns of the consumers before, during and after lockdown. This will map out the new customer journey giving advertisers an opportunity to optimise their campaigns. Furthermore, marketers can gather data on foot traffic patterns, daily commutes, and daytime/night time population data.
Increasing Potential Reach
With the insights delivered by analysing the data, it becomes easier for marketers to extend their reach. By leveraging on mobile data, they can access insights that go beyond the basic demographics and into more specific characteristics like habits, hobbies, affinities and more. This will enable marketers to create specific personas and audience segments that will allow advertisers to come up with a personalized campaign.
With this dynamic, personalised and hyper targeted approach, marketers can win back old customers and bring in new ones, and as a result, increase ROI.
Combining Mobile Retargeting with OOH
In order to reach more customers through the out of home media, advertisers now have the option to integrate mobile advertising into the mix. This new channel has got companies expanding their presence through outdoor advertising and reaching consumers like never before. With location data and mobile advertising marketers can reach their target audience when it counts.
This innovative and unique way of advertising is an essential tool especially during this pandemic. With consumer movement slowly picking up, combining data from their mobile devices with out of home advertising gives marketers the edge with hyper-local data. This creates an opportunity for them to create meaningful, personalised and relevant advertisements to entice their customers.
Adapting to the New Normal using Data
By measuring and analysing consumer data, marketers can adapt their business to the current scenario, giving the opportunity for OOH to reach a larger audience. Combining consumer and location data can solve problems seamlessly. The OOH industry is known for its quick recovery from a crisis, and by being heavily dependent on data and measurement, the recovery can be a faster one.
It's a fresh and innovative approach to the new normal.