DOOH is a booming sector in the advertising industry. The industry has been growing rapidly over the past few years. If statistics are to be believed, DOOH would increase from 6.7 billion U.S dollars in 2019 to 15.9 billion in 2027.

This industry has garnered an extremely special standing in the world of advertising. If the current statistics are seen, DOOH seems to be not going anywhere for a long time. DOOH is a more advanced version of OOH. It is currently quite an expensive mode of advertising but with continuous research and advancements, it is definitely going to be better and more affordable with time.

Now, since the rage around DOOH is so much, people might wish to invest in their own DOOH company. If you want to start your own DOOH business here are a few tips and tricks that will get you in action. Read them up if you feel your entrepreneurial instincts are piqued up!

Costing- The First Step to Setting up a Digital Out-Of-Home Business

Considering the initial costs before implementation is extremely important. The major expenses in setting up a digital out-of-home business are acquiring screens, digital signage players, cables, and mounting brackets for the screens. Other than all the hardware, costs involving installation, repairs, and monitoring, software updates are also very important.

Costing is affected by a variety of factors. It is important that you conduct proper research about the availability of different types of hardware before concluding the results. The kind of hardware you choose will depend upon the geographical location of the signage board, the demographics’ as well as several other factors. Other areas where cost is incurred are internet connectivity, remote access, upgrade, software updates and compatibility, and support.

Selling of Digital Out-Of-Home Advertising- An entirely new ballgame in the advertising industry.

It is obvious that having your own Digital Out-of-Home advertising is mainly a B2B type of commerce. So, it is important that you understand what different business types entail. You need to have a thorough understanding of the expectations of buyers. The aim of Digital out-of-home advertising is to increase the revenue generated by a business. This is why it is important that your billboards help businesses take their business forward.

Buyers

Businesses invest in Digital out-of-home advertising mainly to attract customers. They often have a set goal in mind, about the kind of customers they want to target, the locations where they would select, etc. The more types of buys you can offer to your buyers, the better are the prospects of you landing the customer. The various buys can be audience-based, location-based, share-of-voice, loop frequency.

Make sure your business provides all these buys so a successful business campaign can be established.

Being Accurate

Businesses often make bogus claims about the efficiency of their services. But for Digital-out-of-home advertising, making such claims might land you in trouble. For digital out-of-home advertising to be a successful business venture, make sure you have exact statistics about the footfall around the digital screens, keep a track of the kind of people that visit around the digital boards, the times of the day when it is the busiest. Having such information will likely improve the credibility of the market campaigns that run on those screens. It will also help businesses have faith in you.

Invest in technology that can provide you the real statistics, artificial intelligence is a key to boosting the targeting capabilities of DOOH advertising. Real-time updates and monitoring would help you in the long run. Basically, being as transparent as possible about the success rate of business campaigns with data surrounding audience demographics might help you push your sales up.

Customizing ad campaigns as per the demographic data, might also help you charge a premium from your customers. For example, if a DOOH board is located near a college campus, advertisements related to restaurants and eateries might be beneficial as directly the college students can be targeted.

The team which is equipped with the latest trends and technology

Make sure the sales time is efficient and motivated. Bringing the team up to speed with the latest DOOH trends, Getting them to give up their comfort OOH zone, and explore all that DOOH has to offer. Invest in the proper training of the team members so they are well versed with all the complexities, they are aware of how to gather data and how it can be analyzed to prepare effective marketing campaigns. Make sure, the team is continuously researching about the new companies in the market, and even the already existing ones that need or may benefit from DOOH advertising. Ensure that they are well versed with the technicalities when they pitch this to the clients. Efficient pricing models also need to be in place to ensure success in this cutthroat world of competition.

Often during the time of festivals, the volume of advertisements suddenly increases, so you always must ensure that you have enough screens, and you are able to manage the increased bulk of orders. Relying on technology, taking help of good software never hurts. So, make sure you have proper database management systems in place to help you with streamlining the entire process.  There is some dedicated OOH sales software available in the market that can help you smoothen the working of the DOOH advertisement.

Automation of DOOH

Digital out-of-home ads are unlike OOH. They are not like billboards that remain at a place for a stretched period of time and are replaced weekly or so. Digital ads run for seconds and multiple ads run one after the other. Hence, the number of ads displayed on a DOOH board is far more in number. Hence, there is always a need for automation, so delivery of these ads can occur on their own. Now, for automation, programming needs to be done such that the ads are generated automatically based on location or any specific trigger like time, geography, and even weather and climate.

It is no doubt that programmatic campaigns can help in better targeting customers. It is also a great way to up the fee you charge from your customers. Since the efficiency is increased many folds, businesses will look up to your brand for their DOOH spend. Programmatic DOOH is a great way for smaller brands with a limited budget to target specific customers and for bigger brands to spend most of their money on DOOH as more customers can be targeted in a short span of time.

Other important things to keep in mind

Besides, investing in good quality hardware and software, capitalizing on a good team is also imperative. Advertising is as much art as a business. If you are starting a digital signage business, go slow. Make your impact steadily and collaborate with brands one by one. Build a team that is willing to work on all aspects of the business. Hire people who have a broad knowledge of not just the business but also the various microenvironment and macro-environment factors.

Make sure the team has experts from various backgrounds so different aspects of the business can be managed efficiently.

Financial Advisor: A financial advisor will help in the allocation of funds, evaluate the financial goals.

Engineer: A Project Manager and other software engineers who know the ins and outs of the business, who are able to take care of the technicalities, who are efficient in handling any glitches that may arise, basically the backbones of the digital signage business.

Sales and Marketing Team: Selling the DOOH inventory to help businesses sell their own inventories would mean a win-win for both parties. So, employ a smart sales team who know how to create your brand image and who help take the business forward.

Of course, there need to be other people like the legal advisors, accountants, IT department to oversee the smooth functioning of the business. Building a team with a varied skill set would do good for your DOOH business.

Legal Matters

Of course, there are some laws in place to prevent people from doing whatever they feel like. To homogenize the process for everyone, there are certain local laws that every DOOH company needs to be aware of. Some of the common laws pertain to

  1. The screen dimensions : Height and width of the screen
  2. Location: Avoiding restricted roadways
  3. Content: Content matters the most in advertising. Government might disapprove of the advertisement pertaining to alcohol around universities and schools to protect youth from exposure to such stuff
  4. Brightness, separation between the signs, duration of working etc.

Thorough research of these local laws is mandatory and required licenses and permits need to be obtained before making any final decisions. Make sure you comply with the laws so any exposure in the future can be avoided.

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