#9 - Myth Busting: Billboards Actually Print Money?

Summary

In this episode of the Marketing Max Show, host Max interviews Greg Wise, founder of OneScreen, to explore the declining effectiveness of digital ads and the rise of Out of Home 2.0 advertising. They discuss how OneScreen's innovative approach, including real-life pixels and data-driven billboards, is revolutionizing the industry by offering measurable, cost-effective campaigns. With a focus on targeting digitally exhausted audiences, they delve into how modern marketers can leverage Out of Home 2.0 for enhanced reach and engagement, emphasizing the blend of creativity, technology, and performance metrics for successful advertising in today's digital landscape.

Takeaways

• 🚀 Out of Home 2.0 (OOH 2.0) is revolutionizing traditional billboard advertising by integrating data and technology to make it measurable and actionable for modern marketers.
• 📈 A significant percentage of marketers are experiencing declining results from digital ads, prompting a search for alternative channels to reach digitally exhausted audiences.
• 📱 OOH 2.0 utilizes a 'viewshed' approach, capturing mobile IDs of people who pass by billboards and then tracking if those IDs visit the advertiser's website, providing a form of real-world attribution.
• 💻 The effectiveness of OOH advertising campaigns can now be measured using conversion tracking, similar to digital advertising, addressing a major gap in traditional OOH advertising.
• 🖥 OOH 2.0 allows for retargeting the captured audience online, creating an omnichannel marketing approach that leverages both physical and digital advertising spaces.
• 📉 The cost of OOH 2.0 campaigns can be significantly lower than presumed, with strategic investments yielding impactful results without necessitating large budgets.
• 📲 OOH 2.0's targeting capabilities are enhanced with data layers that include audience demographics, behaviors, and more, enabling precise targeting and optimization of ad placements.
• 📖 Creative execution in OOH advertising is crucial, with the potential to create memorable, impactful ads that resonate with audiences in the physical world.
• 📣 OOH 2.0 offers flexibility in campaign scale, from city-wide takeovers to targeted activations at specific events or locations, adaptable to various budget sizes.
• 📦 Direct communication and consultation with OOH 2.0 providers can tailor campaigns to specific marketing objectives, audience segments, and creative visions.

Q & A

What is Out of Home 2.0 and who is pioneering it?

Out of Home 2.0 is a modern approach to out-of-home advertising that integrates data and technology to make it more measurable and effective for marketers. It is being pioneered by OneScreen.ai.

Why are marketers looking for alternatives to digital advertising?

Marketers are seeking alternatives because 67% of them, according to a study, are experiencing declining results from their digital advertising efforts, highlighting a need for new channels to reach digitally exhausted audiences.

How does OneScreen.ai's approach to Out of Home 2.0 differ from traditional out-of-home advertising?

OneScreen.ai's approach to Out of Home 2.0 differs by using data and technology to make out-of-home advertising measurable, targeting specific audiences with precision, and providing insights on the efficacy of campaigns, which contrasts with the traditional, less targeted and measurable methods.

What kind of data does OneScreen.ai use to enhance Out of Home advertising?

OneScreen.ai uses audience data to identify the right advertising formats and locations, and they collect real-world data to measure the effectiveness of a campaign, including mobile IDs to track whether an individual exposed to an ad visited the advertiser's website.

How does OneScreen.ai track the effectiveness of an out-of-home ad campaign?

They track effectiveness by using pixels on the advertiser's website to monitor if individuals who were likely exposed to the billboard (based on captured mobile IDs within a specified viewshed) visited the site, aiming to tie web traffic and conversions back to specific out-of-home ads.

What is a 'viewshed' in the context of Out of Home 2.0 advertising?

A viewshed is an area in front of a billboard where individuals have the opportunity to see the ad. OneScreen.ai calculates this to capture a percentage of the population that passes by and potentially interacts with the ad.

Can Out of Home 2.0 campaigns be integrated with digital marketing efforts?

Yes, the mobile IDs captured by OneScreen.ai can be used to retarget individuals online, allowing advertisers to follow up with out-of-home ad viewers on digital platforms like Facebook, creating an omnichannel marketing strategy.

What challenges do marketers face when considering Out of Home advertising?

Marketers often hesitate due to perceived high costs and difficulties in measuring the return on investment (ROI) and attribution, as traditional methods provided little to no data on the effectiveness of out-of-home ads.

What is the minimum budget for testing an Out of Home 2.0 campaign with OneScreen.ai?

While there's no set minimum, OneScreen.ai suggests that effective campaigns can start with budgets that are much lower than the perceived industry standard of $100,000, with possibilities for impactful tests in the range of $10,000 or even lower for specific events.

How does creative design play a role in the success of an Out of Home 2.0 campaign?

Creative design is crucial in engaging the audience and making an impact, as it accounts for a significant part of the campaign's effectiveness. Innovative and contextually relevant messaging can significantly enhance campaign performance.