Embracing the Potential of Digital Out-of-Home Advertising
Let’s DOOH This! Embracing the Potential of Digital Out-of-Home Advertising
By John McCauley, Director of Business Development, Sales & Marketing
There is no escaping the massive impact that COVID-19 has had on our lives as we have all worked together to stem the spread of the virus that has so drastically limited our activities. We’re working from home, our children are learning online and many businesses have found themselves at a standstill.
The result is far more time spent at home streaming Netflix, cooking big dinners, or having family game night. Video, digital and mobile advertising all benefit from this shift. But it has dealt the digital out-of-home (DOOH) media marketplace a very significant blow.
You won’t see that digital billboard if you’re not driving to work.
Nor will you notice the impressive digital ads at the airport if you’re not flying.
Just a few months ago, there seemed to be no point in spending money on out-of-home advertising if everybody was, mostly, at their homes.
But as people have started to feel like they can move about more safely, digital out-of-home advertising has begun to rebound. Seeing what has always been a good opportunity, agencies strategically and efficiently are returning to spending. And the dynamics created by the pandemic upped the ante even more on accountability, data, and flexible opportunities, accelerating a trend that was already gaining steam before the pandemic.
That trend is programmatic digital out-of-home advertising, which refers to the automated buying, selling, and delivery of media — and it’s growing at a rapid pace.
Much like online ads use data to cater to consumers, programmatic digital out-of-home advertising can be used to target certain demographics. A digital kiosk at an airport, for example, can advertise hotels in whatever destination people waiting nearby are headed to.
Programmatic digital out-of-home advertising creates more access, more flexibility, and more insights. At Velocity, we view it as a catalyst for recovery throughout 2021 and beyond, accelerating the speed at which brands and agencies get back in the game.
The power of this type of advertising is fueling the growth of inventory in the DOOH space, whether it is converting existing boards to digital, adding video monitors to existing real estate, or finding new space in essential sectors such as retail/grocery. The circumstances of COVID-19 may have accelerated this trend, but there is no doubt it is here to stay.
With the DOOH industry on the precipice of significant growth, the supporting ecosystem continues to take shape and evolve. Within the new marketplace, companies will continue to focus more, collaborate more and partner more as they lean into the opportunity.
Some movements have already begun to take place. Two cinema advertising companies — National Cinemedia and Screenvision Media — have partnered with non-cinema media companies, such as bars and airports, to sell their inventory.
Retail media networks are increasing their in-store media inventory, as seen by Walmart Connect’s recent announcement that it will embrace in-store digital signage as a significant component of its media offering. Walmart also plans to partner with The Trade Desk to build a proprietary DSP, as it seeks to challenge Amazon for retail advertising network dominance.
These are, no doubt, exciting times, for the DOOH sector. Velocity sees this opportunity — and we have the infrastructure to quickly deploy, power, and enable these networks. We are true believers in this form of advertising — and we have positioned ourselves to help networks light up and increase monetization by powering the rising tide of digital-out-of-home advertising.
If you think digital out-of-home advertising might boost your business, click on the “ASK AN EXPERT” button in the top menu or send us an email at firstname.lastname@example.org. We’d be happy to discuss your many options in this exciting sector — both now and in the post-pandemic landscape.