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Impression-Led Outdoor Advertising – Coming Home for Good

1912.i301.005_Brand building isometric compositionLast week, we spoke about Impression-Led Outdoor Advertising and why it is here to stay!

We touched on elements like brand visibility and online engagement, and how Digital Out-of-Home (DOOH) is making a difference with better Impression-based capabilities like targeting and measurement.

In this article, we are taking things to the other side – the more administrative or financial side of DOOH.

Basically, we know that impression-based DOOH has completely transformed the way outdoor advertising campaigns are planned and measured – and now, we need to know some other advancements that have come in and made this channel even more accessible!

So let’s start with the one thing that has always been a challenge when it comes to outdoor advertising…

The Cost of Digital Outdoor Campaigns

Traditionally, outdoor ad campaigns have been expensive for one reason and one reason only – No Impressions!

Essentially, if you wanted to run a campaign, you had to buy a minimum number of ‘spots’ to run your campaign.

On top of that, big brands with their war chests would end up buying out all the good ‘spots’, which meant that your ad would run only when the big brands weren’t running theirs – that wasn’t ideal if you wanted to reach a specific audience type or category.

With Impression-led campaigns, you benefit in two ways:

    1. You only run ads when your Target Audience is most likely to be in front of the screen – Impressions for your Target Audience category will tell you what those times are so you can target accurately
    2. You can choose your advertising budget accurately – if you want to reach 10,000 TA, pay for 10,000 TA! If you want to reach 50,000 TA – pay for 50,000 TA

Yes, there might still be some floor-limits (e.g. min. 5,000 Impressions) that you can buy but it’s still better than buying spots that won’t have any impact on your campaign performance.

What’s more, since you are paying by CPM and not a fixed cost, you can always adjust your spend by adjusting your campaign reach.

You get more qualified leads, thus mapping a cost-effective advert campaign.

Whether you want to run a really short, snappy campaign to test your creatives, run an A/B test on your campaign creatives or just be picky with your campaign run-times or duration – Impression-based CPM pricing can do it all for you.

Campaign Planning Simplified

There are many benefits of being able to buy and control your entire campaign online – as anyone who has used Google Ads or Facebook Ads, or any other social media or Internet ad-network will testify.

These benefits didn’t exist in the world of Digital Out-of-Home because the capability to buy online didn’t exist.

4380The general process was to select a billboard or screen, find out who the owner was, discuss and negotiate with them on costs, negotiate on contract clauses, get creatives approved and then run the campaigns – a cycle that could take anywhere from a few weeks to a month or two, at times.

Online buying got rid of that entire cycle because now, you can either buy pre-made, curated packages that contain specific screens, or you can choose the screens on your own.

Then, the question of negotiations doesn’t arise because each screen has a specific audience reach and CPM-rate attached – so you know exactly whom you can reach for that screen and how much it will cost you.

Your total campaign cost is tied to your CPM and required reach, so you don’t have to pay for screen-time that you are not going to use.

What’s more, if you want to pause or stop a campaign before it hits the target CPM, you have the control to do so!

Essentially, online buying and management of digital outdoor advertising campaigns has made you – the startup – person in charge of your advertising campaigns – exactly how it should be.

And now, if you want, you can even run last-minute campaigns because buying the impressions and uploading your creatives for approval takes just a few-seconds.

Once the creatives are approved by the media owner, your campaign can go live so if you wanted to run last-minute campaigns on digital or social, and wanted another major channel to boost your campaign performance, digital outdoor advertising is a viable option now!

Campaign Testing and Measurement

This is an area where the traditional outdoor advertising model has been completely blown away with the latest advancements.

You can conduct A/B and Multivariate testing on campaigns, not just for creatives but also for locations to see where you get more traction for your campaigns.

This wasn’t possible before for two reasons – first, you couldn’t run short, impression-based campaigns at any location because the capability just didn’t exist, and second, you couldn’t measure and change campaigns in short durations because – again – the capability just didn’t exist.

A Forrester study showed that poor data quality leads to wastage of 21% of advertising budgets.

You are spending that money but you either have no idea who saw your ads or if they did anything with it.

And that has been the essence of digital and social media ads all throughout – the ability to maximize the ROI from whatever it is that you spend on advertising.
We have embraced this concept in digital marketing, but not in digital outdoor advertising.

Now some of it was because startups do not know that this is possible in outdoor advertising and some of it is because they haven’t perfected the art of extracting value from outdoor campaigns.

Hopefully, we’ve taken care of the first bit so that you can focus on the second part!

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