New marketing research from out-of-home (OOH) ad firm OneScreen.ai reveals that nearly all (96 percent) respondents are satisfied (50 percent) or very satisfied (46 percent) with the ROI of their current OOH marketing campaigns. On average, these companies have seen monthly revenue increase by more than 50 percent.
The firm’s third research report in a series of studies, What Is the ROI of OOH: An Economic Impact Study, in partnership with Kickstand Communications, also reported that 78 percent of companies using OOH plan to increase their OOH budget over the next 12 months.
“While real-world advertising has long been an exciting medium, some marketers and brands have been hesitant to invest in OOH because the ROI hasn’t been as easy to prove as with internet marketing,” said Sam Mallikarjunan, co-founder and CEO of OneScreen.ai, in a news release. “But recent advances in OOH measurement, combined with diminishing digital marketing returns and digitally-fatigued consumers who are paying more attention to their surroundings than ever before, have the OOH industry poised for its greatest growth yet. The ability to effectively and broadly measure the impact of OOH is leaving brands and marketers extremely satisfied with the results of their campaigns, and as a result, they are investing more in real-world marketing.”
The success of OOH doesn’t hinge on monetary ROI alone. Advertisers also judge the performance of OOH ads by:
- Increased social media engagement (67 percent)
- Higher website traffic (54 percent)
- Stronger brand recognition and awareness (44 percent)
- And 96 percent say they are reaching those goals
For both traditional and digital mediums, respondents saw the strongest ROI from billboard advertisements:
- For users of traditional OOH, 40 percent said junior bulletin/junior poster billboards showed the strongest ROI
- Users of digital OOH and those who use both digital and traditional say the strongest ROI is with digital billboards (38 percent)
The qualities that make OOH a rich, impactful, and targeted marketing channel are also the source of headaches for those who buy OOH with 84 percent of those surveyed saying they struggle primarily with determining the right medium, but also with navigating other aspects of the OOH buying and management process.
On average, companies are spending an additional 17 hours per week to find and manage OOH inventory. Nearly 76 percent say greater visibility into inventory availability would make their company more likely to increase marketing budget allocation to OOH advertising.
For its third research report in a series of studies, the firm surveyed more than 600 marketing professionals who use digital and/or traditional OOH advertising in 46 states in the U.S.