“With Tech Solutions Permeating Into The OOH Ecosystem, The Medium Is Primed For Explosive Growth In The Coming Years. Brands Who Leverage More Measurable OOH Solutions Now Will Have An Early Lead In Winning The Hearts And Minds Of Consumers.”
Ranganathan Somanathan, Co-Founder & Curator at RSquared Global Venture, Singapore
Let’s start with the advertisers, it was relatively easy to reach scaled audiences when TV prime time viewing was at its peak. Over time as pay-TV came into play, viewers depleted and became more fragmented. As technology enables real-time access to information, we moved from design-and-deliver collective to design-and-deliver individually. In this scenario, marketers will be grappling for the attention of their audiences - and this becomes a scarce resource. Data-driven brands who embrace technology will be in a better position to deal with that attention deficit environment.
Any change requires massive capital expenditure, where the current Media Owner revenue model does not justify investments into infrastructures, part of the reason due to the lack of transparency, lack of accountability and the uncertainty of the ROI investments. As more and more Media Owners embrace tech, they are able to better present a solution to marketers who are craving for audiences attention. The OOH environment continues to hold the consumer attention, being able to measure and present that to a marketer, will put Media Owners into a good position.
Agencies operate in a very efficient mindset due to the massive amount of effort being put in. As data and tech come into play, campaigns now require alteration and real-time optimisation to get that effectiveness. This means the agency effort for a dollar of media investment has gone up 10x while the outcomes are still the same. As OOH slowly adopts automation in planning, buying and booking processes, efficiency is kicked back into the system and media owners who are better positioned to embrace tech will nudge agencies to embrace solutions that help them be efficient and deliver effective solutions for their markets.
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