Has the pandemic fundamentally changed OOH?
The short answer is no. In fact, optimism and potential for OOH is at an all-time high, evident with new players joining the industry post-lockdown. Yes, there was a drastic dip in revenues during the lockdown and following months, but that phase is over, with media being bought at or higher than pre-pandemic prices. I believe the EXPO 2020 has expedited this turnaround and now supply is less than demand, pushing prices higher than ever before.
How are client demands changing?
It was a buyers’ market post-lockdown and clients enjoyed the lowest rates this industry had ever seen. Agencies were also pushing clients from other formats to OOH, as it was suddenly accessible to all. Everyone except OOH suppliers were reaping in the benefits. Fast-forward to date, and we are fully booked till the end of this year, apart from annual deals. The industry is now struggling to keep up with the demand. Clients are also adapting by locking in sites well in advance.
Where should OOH sit in the marketing funnel?
OOH is relevant across the funnel, even after a consumer has made a purchase or used a service. It helps consumers validate their purchase and creates pride in ownership. Having said that, I don’t believe there is any single format that can fully encompasses a client’s requirements on its own. Each format has its own strengths and weaknesses but few can deliver the shelf life and ROI of OOH coupled with the fact that OOH cannot be turned off.
What role should technology play in OOH?
Technology can help in client-reach measurability, something marketers traditionally require when analysing marketing plans deployed. An ideal scenario would be targeting a consumer with relevant content using GPS or a cellular network to provide seamless advertising across digital formats after a user passes a hoarding with a particular campaign.