Does your brand incorporate out of home advertising into its college marketing strategy? If not, a significant amount of revenue and reach can be missed. According to a recent report by MAGNA Intelligence and Rapport, OOH advertising is a $29 billion market in the US, and is responsible for 6% of the $500 billion global advertising spend. OOH is also predicted to grow by 3-4% per year in the next five years, ultimately reaching $33 billion by 2021.
OOH is the only traditional marketing medium that has been growing ad sales consistently over the last ten years and isn’t ready to stop now. The channel’s market share has increased from 8% to 10% from traditional channel spend, which includes TV, print and radio.
What is responsible for this growth? One of the reasons is due to the fact that is extremely difficult to avoid. For the college student demographic specifically, most students are either taking public transportation in the city, commuting into college or bringing their own car on campus. When it comes to OOH, it is important not to just focus on print. Mastering the omni-channel and digital aspects of OOH is crucial to embracing this market and succeeding in it – especially since audience measurement is advancing with eye-tracking software.
Additionally, digital OOH is a great partner in boosting advertising revenues by creating more opportunities in premium locations such as malls or airports. Although digital OOH only accounts for 5% of the global OOH inventory, they already generate 14% of total ad revenues, and global share is predicted to increase to 24% globally.
Digital out of home advertising is a great strategy for college marketing campaigns because they allow vendors to reach niche environments, like the young urban population. The digital-based segment offers segmenting capabilities and programmatic opportunities, further enriching the marketing experience.
What do college consumers want from brands? Based on a Postscope survey of over 60,000 consumers from nine different countries, location is the top engagement factor when it comes to dynamic content.
Lastly, integrating mobile is another key to success. Leveraging smartphones’ ability to track data and interactivity specifically to optimize the efficacy of out of home campaigns is required for value maximization.