Good morning, are you paying attention to out-of-home ad opportunities?
Traditional marketing channels are slowly declining — except for out-of-home (OOH) advertising. When compared to TV, radio, newspapers and magazines, OOH is the only traditional channel experiencing growth, with expected OOH ad spend to reach $8 billion, according to the Outdoor Advertising Association of America.
What’s the catalyst for its upward swing? MarTech Today’s Greg Sterling says OOH is, in many ways, the perfect hybrid medium during this fraught media moment. “It combines the high-impact creative associated with TV, with the advanced audience targeting and attribution capabilities of digital marketing,” writes Greg.
The digital OOH programmatic network Vistar Media is one company helping to drive adoption. Its partnership with Foursquare gives marketers access to audience insights and foot traffic metrics, enabling brands to track their digital OOH ad exposure on incremental foot traffic and store visitation.
Vistar Media CEO Michael Provenzano told Greg he expects to see 70% year-over-year growth in programmatic DOOH (digital out of home) revenue. “Out of home is about 4% to 6% of the brand budget today, but it’s only about 1% for CPG, so there’s lots of headroom,” said Provenzano.
Meanwhile, in-home smart speakers can’t seem to gain traction as a marketing channel. With more than 200 million smart speaker units sold globally in the past year, there has been little to no data published on how the devices are actually used. With such a high adoption rate among consumers, it seems there are a number of yet to be realized monetization opportunities via the devices. “Is it caution? Is it a lack of vision and creativity? It’s mysterious why we’re not seeing any good data or case studies or PR around any of this,” asks Greg Sterling in his latest report on the smart speaker market.
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Amy Gesenhues,
Senior Editor