1 min read
Just as brands were hitting their post-pandemic stride by renewing relationships with customers and capturing pent-up shopping interest, economic turmoil reared its head – bringing with it ongoing supply chain issues, rising costs due to inflation, and more.
These recent economic concerns have companies tightening budgets across the board. Although marketers are tasked with generating demand, the marketing function is often one of the first targets of budget cuts, leaving marketing pros with a conundrum — how to generate more demand with fewer dollars.
Many marketers are finding solutions by shifting their limited budgets to more cost-effective mediums, such as OOH, or out-of-home advertising. Real-world ads (think: billboards, wrapped cars, LED trucks, rideshare screens and more) are helping marketers drive greater demand and ROI with fewer dollars. A recent report from Solomon Partners shows that OOH offers a significantly lower CPM than other advertising mediums such as online video, podcasts, and TV (OAAA).
OOH to the rescue!
Although great at driving brand awareness, that's not all OOH can do. Recent data-driven capabilities have made outdoor advertising an attractive medium-funnel tool to:
- Drive website and in-store traffic
- Lift conversions
- Turbo-boost other marketing channels
- and OOH can even be used for ABM campaigns
That’s not to say performance marketers should completely eliminate ads aimed at building brand awareness – a fact that is especially true for start-ups or brands in a heavily competitive industry; yet, it's important to understand the full-funnel power of OOH.
OOH + social is a winning combo
Using social media accounts to amplify an OOH campaign is a no-cost, organic way to stretch marketing dollars and campaign reach. For social, the more interesting the creative or the more unique the OOH inventory, the better. The creative potential of OOH is near limitless. Check out this list of OOH inventory types to get familiar with the many options.
Speaking of social media, posts make great OOH campaign content. User-generated content, whether in the form of reviews, shared videos, and beyond, is both free and highly effective. Content like this builds trust, which encourages conversions.
OOH is targeted
New industry tech means you can use demographic and behavioral data to intelligently select optimal markets and ad inventory for your campaign. Now is the time to zero in on those insights to ensure your campaign targeting and execution are right on the money. Being more targeted can mean a better-fit audience and therefore better quality leads.
Ready to explore which markets are your best bet for deploying real-world ads and which mediums will have the highest impact? Get a real-world ad targeting report.