The billboard on the side of the road on your drive to work, the advertisement on the outside of the bus shelter you’re waiting in, the wallscape on a building as you pass by on a shopping trip – each day we encounter a variety of out-of-home advertising. While billboards aren’t “new” to the average consumer, the strategy behind the messaging is evolving with insights gathered through data.
Think back to the billboard of yesteryear: Companies bought space primarily based on the number of eyes that would see it. High-traffic areas like the freeway were a goldmine, and local messages were saved for town centers. Today, companies are asking, “Do we want a lot of people to see our ad or do we want the right people to see our ad?” Through solutions like Precision Market Insights from Verizon (Precision), companies have access to insights about the habits of the audiences they want to reach and the locations at which they can best reach them. Data helps advertisers turn every billboard into a targeted entity that reaches the right audience in the right place at the right time, ultimately breathing new life into what were previously considered “dead boards.”
Out of home advertising measurement was a key area of focus last week at the industry conference, TAB OOAA. Traditional out of home companies including ClearChannel Outdoor, Lamar, Posterscope and Titan, cinema advertising company Screenvision and mall advertising company Eye Corp have each begun working with Precision to help their customers recognize the value in audience measurement to reach consumers through this advertising platform.
Precision can also help other marketers, for example, a company may want to target sports enthusiasts. Precision provides data that can help marketers better understand behavior and what messages will resonate while they are inside or around a sporting venue. The insights derived from this data can also determine how out of home placements will best reach the target consumer beyond the sporting venue. The company can then engage with customers in more efficient, precise and, ultimately profitable ways while measuring the success of its campaign. One major sports team was able to validate the effectiveness of sponsorships by measuring an increase in foot traffic to a sponsor’s restaurant when a campaign was in effect.