In recent years we have seen an increase in Out-of-Home (OOH) advertising. It is a growing market and is becoming a staple in the advertising world. OOH advertising is an essential component for any company’s outreach as it increases your visibility and ultimately makes you more recognizable. Concurrently, another tool to use at your advantage is mobile device retargeting, which is used to help retarget potential consumers who have already interacted with the ad for a second time, in the hopes of having a positive interaction. These two methods of advertising can be compelling on their own and even more powerful when combined.
In this article, I will be going through OOH advertising and mobile device retargeting work on their own, and then how they can be joined to work together.
OOH Advertising
Advertising outdoors is an incredibly useful way to help increase the recognition of your brand or campaign. Moreover, from the many mediums of OOH advertising, billboard advertising is the most popular. In 2018, it was recorded that there were over 340,000 types of billboard advertisements in the US alone. This illustrates how popular not only OOH methods are, but billboard type advertisements, specifically. Moreover, it makes up a considerable market; OOH represents spending in the $29 billion range, worldwide. Which makes sense, as the biggest, most influential brands in the world use billboards to help advertise their products and brands. OOH advertising does not have to deal with a lot of the issues that others form of ads deal with. For example, ad blockers are only becoming more prominent, making internet advertising more difficult. However, OOH billboard ads are tough to miss, as they are always all around us, which is an ideal way to advertise. People in vehicles and on foot will struggle, at the very least, with not having some interaction with an OOH ad.
Out-of-Home ads have been seeing much upward momentum recently. Out of all the traditional media categories, it is the only one that is seeing significant growth. In 2018, there was a 2% increase in OOH ads in the United States. Also, by the years 2012, it is expected to reach $33 billion in sales (USD). So it’s no surprise that the major brands are seeing the advantages of OOH advertising to help with increased recognition and sales.
Furthermore, they are extremely good at what they do. OOH can be highly influential to the consumers they interact with. A survey, conducted by TNS, revealed that over one half (57%) of Canadians age 18 and over, take action after interacting with an OOH advertising. With young adults, ages ranging from 18-24, were most likely to take action, at a rate of 74%. They will most likely check out of the website of the company or do more research about the product that was being advertised. Furthermore, just over one in ten respondents have claimed that they ended up purchasing the product they had interacted with earlier. This data proves that OOH is an effective medium in motivating consumers to buy the products they see advertised.
Out-of-Home ads have been ubiquitous for many years, and given all the information presented, it seems like their here to stay for many more years. Given their successfulness in making consumers buy the products being advertised through their methods, they will be sure to help any company with its advertising needs.
Mobile Device Retargeting
Retargeting has existed for a while. It first started through the use of desktop computers; however, with improvements in technology, mobile retargeting is seeing its most successful spell in recent years on mobile phones. The way mobile device retargeting is implemented is that it has the potential costumers get a second interaction with an ad they had previously seen. It is usually used for two main reasons, to encourage consumers to install an app for the first time, and to drive existing users to re-engage with an app that they have already downloaded. This is done through posting the ad on an app that the user frequents on their device, ensuring that the user will see the advertisement. Once they have seen the ad, they can click on it, and it will direct them to the advertiser’s website or app that they can download. This dramatically increases their chances of actually making a purchase. Through using the mobile retargeting process, you can expect, on average, three times more session per dollar spent, which estimates to roughly a 48% higher click-through rate. An even crazier stat, mobile retargeting can make dormant users 173% more likely to buy again. These numbers prove to us how important mobile retargeting can be. Through it, you can take individuals who weren’t even considering buying your product to very real potential costumers. Due to this, any company should consider using mobile retargeting to furthering their brand exposure and increasing their sales.
How many times have you had items in a shopping cart when viewing an online store only to end up closing the site and never actually purchasing the item? This occurrence is more common than you might think. The shopping cart abandonment rate can be as high as 69%. As such, this can be very frustrating for those who work in eCommerce. However, if you can remind users of your services and products, you not only steer the costumers back to your website, app or product, but you significantly increase your brand awareness through potent exposure. Furthermore, there are many other benefits to mobile device retargeting: user acquisitions are profitable through a more extended period, increasing your key performance indicators, and a better long-term investment.
Firstly, with user acquisition (UA), when you follow up with newly acquired users with your specifically targeted ads, it shows that you are more profitable for a longer amount of time, regardless of the diminishing return for new users. Secondly, the return that is seen on the whole from the users helps increase your key performance indicators (KPIs) of monetization. Meaning, through the retention of your users and the virality of your ad, you can significantly increase your revenue. Finally, after having done the acquired your new users, retargeting them again has seen to be a better investment, rather than having to target new users. These benefits will surely help your overall business plan, as they greatly increase your potential to acquire loyal customers and greater brand exposure.
OOH and Mobile Device Retargeting Combined
Now that we have a better understanding of OOH advertising and mobile device retargeting, we can see how these two methods can be used together. When these two are used together you set yourself up for success as research from Ocean Neuroscience indicated that “consumers are 48% more likely to click on a mobile ad after being exposed to the same ad on an out-of-home ad first.” Moreover, there was a Nielsen study conducted in association with the Out of Home Advertising Association of America (OAAA), and they found that 46% of surveyed adults had conducted an online search after seeing the object of their search in an OOH ad. By adding a mobile component to your OOH campaigns, you can provide consumers with immediate and relevant information about their brands on the path to purchase.
Through something like truck-side advertising, which is done at Movia Media, can to connect with potential customer almost instantaneously. Movia Media has created a proprietary technology that allows them to track how many impressions they make as their trucks are doing their routes. Meaning, they can track every person who has potentially interacted with the ad being. They can successfully do this by monitoring all those who have the wifi turned on on their phones. Once connected with a potential customer through their wifi, you will now be able to access many stats that will be sure to help you understand your desired audience better. Now, they are capable of seeing the apps you frequent most and can place the ad you had seen on the truck earlier, on a specific app on your phone that you tend to visit frequently. So, from this, you can create a positive impression with a potential client. When they see your ad again, it creates a level of brand recognition, leaving them more likely to buy what you are selling. Positive impressions cannot be underestimated; they are an incredible way for brands and consumers to start building a relationship with one another. First, it starts with brand outreach and recognition and, hopefully, ends with brand loyalty. All of this is to say that mobile retargeting is a tool that must be utilized in every ad campaign to produce the optimum results.
The data you receive through mobile retargeting is very telling. Firstly, you have access to the GPS coordinates, which helps you know where the impressions were precisely made. This type of information can help businesses find potential target areas where they are received better and allow for the highest rate of return. Then, you will be able to see the browsing patterns associated with all of the devices you connect with. This allows you to know which of the apps on that specific device are best to retarget the ad on. After some time, you will be able to see the engagement history. The benefit of this is that you will be able to decide how often you want to retarget your ad. This comprehensive process allows you to not only make the most out of your ad, in terms of sales but also make the most out of all the data can collect. The information is what helps you understand the market that you are in and how to mould that market in the most advantageous way for your business.
When you access a specific device, you will also be able to discern the type of device they are using. This becomes helpful when you want to know whether the majority of your customers are Apple or Android users. This can help you with the future ads you wish to run and whether or not you choose to make those ads more compatible with Apple or Android devices. More so, you will also have access to the users’ gender and age. This type of information allows you to understand the demographic you are selling to better. Furthermore, just like the device type, this information enables you to curate your ads or campaigns to a more specific target audience, should you wish to do so. As you become more aware of your target audience and what they are receptive to, you will be sure to help see your sales and brand recognition increase.
In Conclusion
Now, you should have a comprehensive understanding of how these different methods of advertising work individually and together. These are great tools to have at your disposal as you are capable of increasing your successfulness of any potential campaign. OOH and mobile device retargeting have proven to help any company stay above the curve and ensure that you are in the best position possible.
Keywords: Out-of-Home, mobile device retargeting.
References:
https://broadsign.com/blog/out-of-home-advertising/
https://appdevelopermagazine.com/mobile-retargeting-best-practices-and-worst-mistakes/
http://www.oneaudience.com/succeed-mobile-retargeting/
https://appdevelopermagazine.com/mobile-retargeting-best-practices-and-worst-mistakes/
https://www.haulerads.com/outdoor-advertising-and-mobile-device-retargeting/
