The Outdoor Market
Everyone who leaves the house is exposed to it.
You don't turn it on, tune it in, search for it, or turn over the page to see it, it's just there... and it's free.
Although referred to as poster panels, or billboards, in the advertising industry they are classified as “Outdoor” and they form part of the “Display” advertising market.
You see them on the roadsides, at shopping centres, railway stations and on the Underground, but unlike TV, radio or print, which can see the launch of new channels or publications, town planning control limits the number of potential new advertising hoardings.
As the media cannot be diluted by the sudden influx of new sites, the long-term value of Outdoor advertising is assured. Look at the most recent Revenue figures from Outsmart. Growth in the sector grows, Q4 2015 being particularly impressive for Roadside Digital at £43m which ispart of another 'best ever' year, a consistent trend from 2010.
The Outdoor industry deserves considerable credit for investing heavily in high quality “plant” with contemporary design and servicing, the recently launched ROUTE rating system for audience impact analysis and digitally related posting validation which have all contributed significantly to attracting new advertisers and increasing audience awareness.
In the same way that the Outdoor media contractors are seeking to sell the value of Outdoor to media buyers their success will determine the rental value of media assets for the landowners. The increasing sophistication of the Outdoor media sector, with the introduction of digital displays and networks demands that landowners and their agents have a greater understanding of how the revenue they receive is generated and how to optimize their portfolio. In the majority of cases media assets form a welcome addition to the host property income stream, in some cases the income can be so great to dominate any alternative use value.
THE STRENGTH OF OUTDOOR
A new study released today from Outsmart, the marketing body for Out of Home (OOH), reveals that OOH activity drives +17% uplift in smartphone brand actions.
'OutPerform' is its first major study since opening doors in September 2015. Outsmart joined forces with leading market researchers, Ipsos and OOH industry measurement body, Route, to explore how the medium performs in today's connected world, especially with the proliferation of the smartphone. The groundbreaking study, believed to be the biggest of its kind, investigated how public journeys can become personal stories among 16-44 year olds in the UK.
The results also show that the uplift in smartphone brand action increases to 38% among the top 20 best performing campaigns within the study and even higher for Millennial and Gen Z audiences.
Results demonstrate that OOH converts brand advertising into brand behaviour, revealing 66% of smartphone actions are direct to brand, such as a search query or website visit.
Furthermore, 57% of respondents that took action were new or lapsed customers, highlighting the power of OOH for brands seeking growth by reaching a wider group of consumers beyond the core buyer.
Landowners and their agents are isolated and limited access to independent market data to assist in negotiations. This is where TTP offers a distinct advantage and as property people we understand the client.