Out of Home Media Trends in 2023
It’s time to look ahead at the Out of Home media trend that we see lining up in 2023. Last year was the year of Out of Home media recovery. As the world begins to fully emerge from the social and economic shadow of the pandemic, confidence in Out of Home media is returning, and so are advertisers. The industry is seeing historic growth in 2022, despite having passed historic lows in previous years, but in the big picture, that means OOH is on the fast track to a return to normal.
And while the previous years were tough, the Out of Home industry didn’t sit idly by, twiddling its thumbs and crying, “woe is me.” During the pandemic, the industry is working diligently to improve itself in all areas. From planning data to programmatic platforms to campaign measurement and attribution, the industry is making progress across the board.
Now we are in a position to see those improvements and progress paying off. Rather than just gimmicky buzzwords, programmatic OOH is becoming a more standard part of media planning. New attribution and advertising technology providers will continue to improve their capabilities and improve their measurement to provide advertisers with more accurate, more specific, and more relevant data.
This year’s big Out of Home media trends are less about innovation or new technologies and more about the refinement, adoption, and strategic use of the advances of recent years.
Out of Home Media Trend #1: Programmatic out of home will continue to be front and center:
Programmatic DOOH has been at the top of everyone’s list of Outdoors media trends for the last few years, and with good reason. While it only accounts for a relatively modest portion of all OOH media purchases, it’s growing at a steady pace, and as more Outdoors media converts to digital formats, it will continue to do so. There is still work to be done, but most of the pipework has already been done, and the mechanisms for pDOOH are now well established.
The important trend we’re seeing is less about technology and platforms, and more about advertisers’ understanding and adoption of programmatic DOOH. Over the last few years, advertisers have shown interest in the channel but are not ready to jump in yet. Now, with ongoing education, advertisers are finally seeing how DOOH can fit into their marketing plans, work with, and complement other media, including traditional static OOH.
Out of Home Media Trend #2: Data Privacy Concerns Will Make Out of Home Media Even More Important:
With increasing consumer concerns around data privacy, along with all the “will they/won’t” uncertainties around cookies, the ability to access targeting data has become even more important. As third-party data becomes less accurate, desirable, and perhaps even less available, it’s critical for brands to find new sources. This will make first-party and zero-party data a critical asset.
Zero-party data in particular, will be invaluable to brands for their targeting purposes, and while the focus is definitely on using it for digital targeting, it can also be leveraged for OOH targeting. By finding new ways to use location information from their internal data sources, brands will be able to create geo-targeted audiences from their own customers and extrapolate lookalike audiences from there.
For the Out of Home media trend, this means that planning and targeting platforms must facilitate the easy ingestion of advertiser proprietary data into their planning framework. Data is only as valuable as the insights that can be gleaned from it, so it’s critical for the industry to make it as easy as possible for advertisers to leverage the assets they have.
Out of Home Media Trend #3: Advertisers Are Going Back To Using Out of Home for Brand Awareness:
That being said, it has been a difficult few years, and with the uncertainty of a possible economic recession and various global political & social crises, people are feeling tired and uneasy. In times like these, consumers turn to what is familiar and comfortable to provide a sense of stability that may be lacking elsewhere in their lives. Brands need to keep this in mind when it comes to creative and media selection.
Recent surveys show that brands are keen to shift their budgets towards brand building and awareness from performance marketing in the coming year. In fact, 31% say they will rebalance their budget for branding by 2023.
Changing the Way We Think About Out of Home Media:
For the Out of Home industry, from media suppliers to agencies, to advertisers, it’s time to change our minds. There have been tremendous advances made in our technical, logistics and industrial data departments over the last few years. Now is the time to put it into practice, and that means changing the way we think.
The most important Out of Home media trend for this year, is that we have to change the way we think about every aspect of Out of Home planning and implementation, whether it’s staying abreast of the latest data for targeting, learning the most effective ways. to include programming in our plans, or to ensure we have the right attribution technique that will relate back to the main goal.
That doesn’t mean throwing away everything old, though – Out of Home’s ability to be a powerful brand awareness tool hasn’t gone away, it’s only been enhanced to become better at hyper-local, data-driven targeting. It’s not as simple as an either/or question. The challenge is to change our thinking to apply both when necessary.
Out of Home is a broad, vibrant and ever-changing media channel that has made great strides through difficult times. Now is the time for us to face our biggest challenge – ourselves. How we, as OOH professionals and marketers, capitalize on these changes over the next few years will greatly impact the future of this industry.
Source : https://www.emcoutdoor.com/