Growing out-of-home's market share with video
Exterion Media's Andrea Marsh expects OOH to grow by embracing video - but it will require forward-thinking agencies and clients to work together...
In a world where the strength of TV remains clear, and people spend an hour a day watching online video, there has never been a bigger appetite to get moving images in front of consumers.
This was reflected in the latest figures from the IAB adspend report; 40 per cent year-on-year growth for video formats is not to be sniffed at. As video ad spend continues its meteoric rise, OOH media owners and specialists are rallying behind video to grow OOH’s wider market share.
But there are challenges. Brands still think of OOH’s value as purely broadcast-scale awareness but, with access to unique data to pinpoint the right audience, planners can demonstrate how video OOH can be used alongside other video media in increase effectiveness. Just last week, research by Talon highlighted that full-motion OOH can significantly boost the effectiveness of social media campaigns.
The study found that, when full-motion OOH is added to a social campaign, brand funnel metrics such as awareness and emotional response increase by 23 per cent.
Brands do still want reach, of course, and that’s a key differentiator for video OOH. According to Route, video OOH now reaches more than 32.5 million people each month—that’s nearly half the population of the UK, and a broadcast reach that historically only TV has been able to offer.
It also indexes highly for reaching a young and affluent audience. For example, London Underground video screens reach 83 per cent of 18-34 ABC1s monthly (Touchpoints 2017)—beating YouTube, Channel 4 and MTV.
What video OOH delivers, more importantly, is increased engagement. This was highlighted by our recent Engagement Zone research series, which studied how people engage with advertising on the London Underground network and found that Tube users were four times more engaged with video content.
It also revealed that 40 per cent of people searched for a brand or category relating to ads they viewed within one week, demonstrating that impactful video OOH drives direct action from consumers.
Agencies are under pressure to advise clients on brand safety and viewability, and these are issues that aren’t going anywhere. Research by Sizmek revealed the scale of the problem, with nearly 40 percent of brands’ adverts being delivered on a harmful or unsafe web page. Crucially, the brand-safe environments provided by OOH cannot be matched by most online or social channels.
Not only does OOH provide a brand safe environment, it also offers unparalleled viewability. Route only records a ‘view’ in OOH when the consumer is within the ‘viewability arc’ of an ad—meaning that, unless something is physically blocking the screen, all ads are 100 per cent viewable.
With significant investment going into automated planning systems, OOH is steadily being integrated into media plans. OMD adding video OOH to its optimisation tool, and specialist agencies investing in adtech such as Kinetic’s Odex platform, Posterscope’s Ecos system and Rapport’s Rapportal, are part of the industry coming together on the opportunity.
Collaboration and innovation will be essential on all sides if we’re to capitalise on the growth of video in OOH. Investment in video advertising shows no signs of slowing, and we expect video OOH to continue to grow its market share as forward-thinking agencies and clients work together to break new ground.
In an increasingly fragmented media landscape, OOH has a lot to offer—and will become an essential part of the media mix for distributing video content.
Andrea Marsh, Digital Transformation Director at Exterion Media