In a free-market economy, effective advertisement is imperative to a company's continuance. Outdoor advertising serves well for promoting your product in specific geographic regions. Outdoor advertising is a method of advertising devised to reach a wide customer base when they are out of their homes.
It is a highly effective method of marketing because consumers spend most of the day outside their homes. Out-of-home advertising publicizes a business's products as well as its services. The purpose of advertising is to attract new customers by reaching out to them with an effective ad strategy.
Types Of Effective Outdoor Advertising
Outdoor advertising is not just confined to flashy billboards. If you are looking to invest in outdoor advertising, then here are numerous outdoor advertisements to invest in to reach customers.
A billboard is a large advertising structure found in high traffic areas. Billboards are also known as hoardings in most parts of the world. Billboards are the popular choice for advertisers because of their wide availability.
Static billboards are seen mostly on the roadside.With about 68% of consumers make their purchasing decisions while in the car, a well-designed roadside billboard can be a vital part of any brand’s sales funnel. This form of marketing is not meant to be intrusive and direct. It is subtle and more welcoming to consumers.
Mobile billboards are becoming a popular type of outdoor advertising, mainly in crowded cities. They are usually seen on the side of buses or wrapped in automobiles, unlike static display billboards that can not move. Mobile billboards have the privilege of being able to go where the crowd is.
Digital billboards have the advantage of being able to illustrate videos and animations, making them significantly more eye-catching. They are about 3-4 times more expensive than traditional billboards.
Augmented Reality Billboards
Augmented reality is one of the progressive technological improvements that is now used in marketing.
Primary Purpose: It is beneficial for promoting awareness of a brand, product, or promotion – and their everywhere presence and cost-efficiency means they can be used as a galvanizing force in all sorts of campaigns.
Point Of Sale Advertising
Point of sale advertising involves an advert placed in proximity of sale, such as the checkout section of a supermarket or near the queue in a shoe store, to promote a product to consumers right as they are about to make a purchase.
Primary Purpose: The purpose of point of sale campaigns is especially beneficial to brands or marketers promoting a product that is currently in discount, or that is a limited edition. The products, brands, and promoted objects are chosen to be of interest to the specific buyer – for example, shoe polish and laces at the checkout of a boot-maker.
Another immensely prevailing and successful form of out-of-home marketing, where retail advertising takes place specifically in or around retail environments, such as stores and shopping plazas. Types of retail advertising include
- Lift Graphics
- Floor Graphics
- Mall Media
Primary Purpose: The main purpose of retail advertising is to lure buyers into visiting a store or acquiring a product that is in relative closeness to where they saw the advertisement.
Vehicle advertising sponsors an on-the-go advertisement in the form of a printed graphic either placed on the side of the vehicle in question or as a vinyl wrap covering its body. This increases brand awareness on a much larger scale and can provide a reliable source of exposure to nationwide businesses or those with multiple locations. Types of vehicle advertising are
- Truck Liveries
- Taxi Wraps
- Bus Adverts
Primary Purpose: The main purpose of a vehicle publication is usually to increase brand awareness, but it can also work as an integrated part of a specific campaign.
Benefits Of Outdoor marketing
Today, outdoor advertising has become a global marketing strategy, with the ads being presented in numerous forms, shapes, and sizes. From the narrowest streets to the widest roadways, advertisements can be found in every corner of the world. No matter how large or small your business may be, it will still get the advantages of outdoor advertising.
Outdoor Advertising is Cost-Effective
With regards to CPM(Cost Per Thousand), outdoor advertising awards one of the most cost-effective mediums for advertising available. This is because outdoor advertising and billboard advertising produce many added impressions per ad placement. This allows marketers to expand their advertisement money further, which only increases the value of outdoor advertising as ad budgets seem to be continuously shrinking.
Outdoor advertising can boost sales
Those who have viewed a product advertisement multiple times may likely buy the product; Outdoor advertising helps influence the interest of new customers. It also reminds present customers that the product is still accessible in the market. In both ways, outdoor advertising creates a continuous invitation to make a purchase.
Outdoor advertising provides maximum publicity
Hundreds of people pass through the streets daily, who get to see the advertisement daily. This is the reason why roads and highways are filled with all kinds of outdoor advertisements.
Helps in Building Brand
Outdoor advertising helps consumers remember the product information conveyed in the signage with its repeated exposure.
Steps to Create an Impactful Outdoor Campaign
- Define KPIs with Quantifiable Goals.
- Establish Data Points for Your Target Audience and Activation Markets.
- Communication and Collaboration Still Reign.
- Optimize Your OOH Campaign, Like Every Other Channel.
- Evaluate Campaign Success Including Measurement & Attribution for Real-World Outcomes.
Financial Relief after COVID-19 Crisis
Fretting a 50% revenue slump in the current financial year due to the Covid-19 crisis, the Indian Outdoor Advertising Association (IOAA), the apex body of the out-of-home (OOH) business, has asked for immediate financial relief from the central as well as state governments.
- IOAA has suggested several measures to mitigate the financial burden on the Indian Out-of-Home industry.
- Their main demands include the abolition of Advertisement Tax in any form, waiver of at least 50% of the license fee for the financial year 2020-21, and deferment of GST payments for FY21 by one year.
- The association has asked the government to declare the pandemic as a natural calamity to be covered under the force majeure clause of all contracts.
- The industry has urged the government to cover the cost of salaries/wages of those who have been infected by Covid-19 and are unable to return to work.
COVID-19 Impacts On Outdoor Advertising Market
- COVID has put on hold nearly all forms of outdoor advertising because of the limitations on travel and work from home emerging as the new norm.
- The outdoor advertising market will decelerate at a CAGR of over 4% through 2020-2024.
- Most industry leaders believe it is the time for OOH to embrace its digital department as brands who were allies of OOH agencies are realizing the potential of DOOH systems. With the lockdown in place in most parts of the country, industry experts say it is time to re-evaluate the OOH medium.
- From mall booths to airport Televisions to Uber cab tops and billboards, the industry is leveraging their vast networks to help lessen the extent of the virus. The advertising giants – Lintas, Ogilvy, JWT – are all focusing efforts on their outdoor advertising arm to bring more awareness to the public on COVID-19.