Despite 2021 being an ‘on-and-off’ year for outdoor foot and vehicular traffic, a massive $155 million was spent on programmatic Out-of-Home campaigns.
Not that impressive, right? Well… it isn’t until you realise that this number only reflects that portion of programmatic OOH campaigns that were bought online!
That’s right – just like you’d go on Amazon or Alibaba and buy your next possession or toy, these marketers jumped onto VideOOH Deals and other online digital outdoor advertising stores and bought their campaigns!
Of course, when we say, “bought their campaigns” we’re essentially talking about how they chose their deal or selected the impressions they wanted to reach.
This is exactly like the process you’d go through for social media, search or Internet ads!
That means, there’s no longer a need to do all that hunting for inventory, negotiating for inventory and then running back-and-forth with creatives until the campaign goes live!
An Industry under Renovation
There’s a lot that’s been happening on the outdoor ad-front in terms of technology being introduced into the process.
The biggest challenge has always been timing – outdoor campaigns have had to be planned, assessed and paid for months in advance!
That problem no longer exists because brands can simply buy impressions or deals online, upload their creatives for approval and the entire process happens in less than a few minutes.
This is made possible because of two key factors – Impressions and Impressions!
Impression data has made it possible for us to find ways to plan out campaigns to the last degree.
If you’re planning by choosing the inventory on your own, you’ve got more planning data than any Media Owner would provide – and on certain platforms, it’s even verified by unbiased third-party data.
You will know exactly how your ad will perform and that makes it so much better for your projections.
And, if you don’t want to go through the process of sifting through thousands of screens, locations and sites, then you can simply buy a curated deal that is bundled on the basis of that Impression data!
Essentially, you are not picking individual screens for ad-play anymore – you are just picking a location and the number of impressions you want, and the platform does everything else for you!
After all, the only thing that matters is how many people see your ad, not how many times your ad runs – right?
Little to No Wastage!
Online buying has also ensured that there’s no wastage – i.e. you are not spending on things that you don’t need!
Let’s be honest – the cost of an outdoor ad campaign is massive, especially when compared to other channels like search or social media ads.
Now, if you are going to spend a lot of money, you need to make sure you’re getting the best value too!
Just because you have a few millions in your pocket does not mean that you can be wasteful with your approach and it certainly does not mean that you should be overpaying for your campaigns.
What online planning and buying has done is that it has made it almost impossible for you to make a poor decision unless you really intend to.
Because of all the planning data and impression-data that is available to you, for each period of the day, you know exactly when your ad will have the most benefit and how much it will cost you.
That means just one thing – very little wastage!
But Wait! There’s More…
While these are the two most prominent benefits of shifting to an online-buying mindset for outdoor ads, they aren’t the only ones.
There’s the added benefit of not having to make a choice without knowing all the possible outcomes of that choice, for e.g. in media planning!
There’s also the ability to manage your campaign online – something goes wrong, you can pause or cancel your campaign instantly!
And, once things are back to normal, you can restart a paused campaign too (not a canceled one though).
This holds true whether you are planning campaigns by buying individual screens or buying curated deals.
However, here’s the kicker – You are Not Required to Run your Campaign as soon as you Buy It!
This has to be the biggest game changer in the ad-world because traditionally, you’ve got to run your campaign at a predetermined time.
You are essentially buying a specific time and date slot from the media owner but that’s not the case with these online campaigns!
You are essentially choosing a start-date, with online campaigns, but because you are buying impressions in a particular area (big or small), you are essentially not required to specify a start date or stick by it!
So that means, even if you don’t have a campaign planned, you could easily just buy the impressions and hold onto them for the day when you do actually have a campaign planned out – then, just load the campaign in the barrel and fire away!
No matter what else you think about outdoor advertising, you have to admit that the ability to do that with your ad campaign is actually pretty neat!
The average ROI of 146% isn’t a bad deal either!