A Growing Space for Ad Spend
Out Of Home (OHH) and Digital Out Of Home (DOOH) are continuing to grow year on year. Many brands now consider DOOH as part of their brands’ omnichannel strategy versus a stand-alone channel. DOOH is the new kid on the block for digital, with lots of learnings still to come. It is measurable, just like other digital advertising. Combining mobile and DOOH has become a popular strategy for marketers.
On December 7, 2023, an article in Marketing Beat said projections for the share of DOOH campaigns vary. WARC Media forecasts a 13.2% growth in 2023, with a global market reach of $11.5 billion. Multiple sources expect DOOH ad spend to grow faster than any other channel, with forecasts indicating that DOOH will take up a 29.4% share of global OHH spend.
OHH and DOOH allow businesses to reach a larger audience naturally and organically. Businesses can interact with consumers as they go about their everyday lives, including at point-of and path-of-purchase.
As illustrated below, the Out of Home Advertising Association of America (OAAA), which is an Advertising Benchmark Index (ABX)™ strategic research partner, state that in 2022, OHH grew 20.7%. Of that 20.7% growth, 67% were place-based venues.
The OHH channel shows continued growth, based on MAGNA September 2023 projections for 2023 and 2024.
As with any advertising campaign, creative is shown to be the most important factor when it comes to ad effectiveness. In fact, multiple sources have stated that 50%+ of advertising effectiveness is directly related to the creative. With most campaigns running across media channels, creative effectiveness must be measured for each since they require different “best practices” to ensure consumer engagement with their KPIs.
Advertising Benchmark Index (ABX) takes the guess-work out of the effectiveness mix with the largest global syndicated database of in-market ads measured for creative effectiveness across media types and channels (400,000+).
Thousands of newly launched ads are tested weekly for effectiveness. ABX uses the same methodology and advertising normative database for in-market and pre-test evaluations. This allows advertisers to confidently launch and monitor their ads across all channels in real-time, as well as comparing them against competitors’ creative. To learn more, contact us.
ABX Advertising Benchmark Index (www.adbenchmark.com), is a techno-research company focused on driving ROAS & ROI through their Global Integrated Single Solution. Marketers, through the ABX Global Multimedia/Multi Channel Platform, are able to evaluate the effectiveness of all their creative and copy across all media types and channels, and against their competitors’ and other ads, representing approximately 90% of global ad spend.
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