Out-of-home (OOH) advertising is the most effective in boosting brand awareness and conversions. It leads to increased effectiveness with a measurable impact on purchase intent and sales.
According to a new study by the Out of Home Advertising Association of America (OAAA), OOH continues to drive brands, consumers, and sales. OOH has become digital thanks to technology and innovation. It is more creative than ever and at an exciting frontier.
Justin Lewis, Constellation Chair, and Co-founder of Instrument, Stagwell Inc., said OOH advertising continues to have a significant impact on driving brand perceptions across industries, and as this research suggests outsize returns can be had with just incremental adjustments in spend, especially for automotive, CPG, and grocery retail.”
The report states that marketers and advertisers should start with incremental spending increases in their usage of OOH. It recommends budget shifts away from TV and digital, as well as print. Anna Bager, President & CEO of OAAA, said OOH has higher consumer ad recall than other media and drives more consumer action. “The bottom line is there is no other medium that offers effectiveness at a better value. As marketers look to optimize media plans for next year, it’s clear that OOH should receive a higher allocation of the overall budget.”
Growth is expected to be massive, reaching an estimated $42.4 billion in 2024 – representing 5.6 percent of global advertising spend. This is being driven by the rapid expansion of DOOH, which is projected to reach $45 billion by the end of 2024. According to the Outdoor Media Association (OMA), OOH drives more online activity per ad dollar spent than any other media and is 382 percent more than TV, 200 percent more effective than print, and 63 percent more effective than radio in driving customers to the online platform.