A seasoned marketing communications professional and Chief Media Analyst and Managing Consultant at P+ Measurement Services and TMKG Consulting, Philip Odiakose, has stated that monitoring and auditing will always remain key for practitioners in Out- of -Home (OoH); since they offer the opportunity to measure Return on Investment (RoI) with greater precision.
Odiakose, in a paper titled: ‘Maximising Out-of-Home Advertising RoI: The Role of OOH Monitoring and Audit; noted that while OoH Advertising remains a cornerstone of marketing strategies, offering brands the opportunity to reach consumers in high-traffic locations, measuring the RoI of OoH campaigns has historically not been without its challenges, a development attributed to limited data availability and the inability to track audience engagement in near real-time.
Tracing the evolution of OoH monitoring and audit to manual processes and outdated metrics such as impressions and circulation numbers, Odiakose believes the advent of digital technologies and data analytics now provides advertisers better opportunity to have access to a wealth of real-time data that can provide deeper insights into campaign performance.
He argued that by tracking ad exposure and audience engagement (an activity that still remains a grey area) in near real-time, advertisers can accurately assess the impact of their OoH campaigns on brand awareness, consideration and purchase intent.
Defining OoH monitoring as that involving the use of advanced technologies such as: Poster Track, GPS Tracking, Beacon Technology, and Computer vision to track the placement and performance of OoH ads in the physical world, Odiakose argued that by leveraging these technologies, advertisers can gain visibility into metrics such as ad exposure, compliance and estimated engagement levels.
According to him, analysing data collected from GPS trackers and mobile devices enables advertisers determine the exact number of people, exposed to an OoH ad, and also know whether they subsequently visited a nearby store or website.
“Similarly, Computer Vision technology can provide insights into audience demographics and behavior, allowing advertisers to tailor their messaging and creative assets to specific audience segments,” he added.
In addition to measuring RoI, another of such benefits, Odiakose noted, is that OoH monitoring and auditing also enable advertisers optimize their campaigns in near real-time.
He argued that by identifying underperforming ad placements or creative elements, advertisers can make data-driven adjustments to improve campaign effectiveness and maximize RoI.
“For instance, if data analysis reveals that a particular OoH placement is not generating the expected level of engagement, advertisers can quickly reallocate the budget to more effective placements or adjust the creative content to better resonate with the target audience,” he stated.
The P+ Measurement Services boss expressed the strong belief that OoH monitoring and auditing are beginning to revolutionize the way advertisers measure ROI and optimize their campaigns, adding that leveraging advanced technologies and near real-time data analytics, enable advertisers to gain deeper insights into campaign performance, accurately measure RoI, and make data-driven adjustments to maximize the effectiveness of their OoH advertising efforts.
