We all are aware of how digital out-of-home advertising has taken over the advertising industry by storm. It is the latest, most efficient technology for the purpose of OOH marketing. This mode is booming and if reports are to be believed, the global spending on DOOH advertising is expected to increase to 15.9 billion USD by 2027.
What drives this industry?
The major factor guiding this industry is the need for modernization and high-tech marketing strategies for business. But do you know what modern technology also allows us to measure the performance of DOOH which can be used to increase performance? If you are curious to know how this is done, then you have come to the right place! This article talks about how DOOH campaigns can benefit from data and analytics, so businesses can increase their visibility and in turn their revenues.
Most online Advertising platforms utilize some sort of analytics tool to measure their ROI. But for DOOH, it is quite difficult to measure the returns. The benefits of knowing what exactly drives the industry would give businesses an edge over the others. So, the next section talks about the various data types used for running digital out-of-home advertising campaigns.
Primary Data in digital out-of-home advertising:
So, beginning with Primary Data, a Content Management System with information including time, duration, location, and type of content displayed on the digital billboards are recorded and maintained. This is the backbone of Digital-out-of-Home Advertising because, without this data, analysts cannot further their understanding of returns on this investment.
Secondary Data in digital out-of-home advertising
The second most important data that is required by the analysts is understanding the footfall of the place at different times of the day, month, and year to understand the behavior of customers, followed by customer’s reaction to these signage and whether or not customers completed a particular advertisements’ call-to-action process.
Now you might wonder where exactly this data is found. The answer lies in the hands of the customers. Whenever a person travels near a DOOH Ad, the data gets stored in the DOOH network analytics’ program. Various Analytics platforms are available in the market which turns the data obtained in the form of charts and graphs that can be used to understand the performance of a particular DOOH Ad.
Now, once all the data is gathered, it can be used to analyze the effectiveness of various DOOH Ads using parameters like Performance Rating, Retention Rating, Engagement, and Conversion Rating. The strategy can be further improved by including historical data or demographic data, thus strengthening the chances of a DOOH campaign succeeding.
Using data analytics can help marketers align their Digital Campaigns with customer behavior. They may optimize their campaigns in real-time using the data analysis technique.