Topics: Media + Advertising
As we approach the end of 2023, we look to the future. How will you reach your business goals in 2024? How can you improve your reach and engagement? Do you need to adjust your marketing strategy? Should you increase your digital presence? What role, if any, should traditional media play in your marketing mix? Discover new OOH advertising data that informs these crucial decisions.
OOH advertising is a valuable part of the marketing mix.
OOH (or out-of-home) media is advertising that reaches consumers outside of their homes. It includes billboards, signs, wall panels, transit advertising, and more. The objective of OOH advertising is to build awareness and increase engagement.
Whether delivered via billboards, signs, or screens, OOH ads generate repeated exposure, delivering your message over and over again. And the visual impact delivers more bang for your buck. After all, viewers can’t turn these ads off, scroll past them, or fast forward through them.
Consumer behavior is changing in ways that impact marketers.
With safer-at-home orders, quarantine mandates and pandemic related travel restrictions firmly in the rearview, consumers are again venturing out and about. This is demonstrated by increases in volume in industries such as:
- Public Transportation, Hotels & Resorts (+35.3%)
- Local Services & Amusements (+6.0%)
- Schools, Camps, & Seminars (+3.3%)
- Government, Politics and Organizations (+0.8%)
Additionally, population concentration in urban areas is increasing. And city-dwellers are a captive audience for OOH advertising – living, learning, working, eating, shopping and socializing within a limited area.
+ Learn more about expanding your OOH advertising as urbanization increases.
OOH advertising is experiencing an impressive resurgence.
With the current changes in consumer behavior, OOH advertising is again a vital part of the marketing mix.
- OOH ad revenue increased 2.2% in the second quarter of 2023 compared to the previous year, accounting for $2.68 billion.
- Despite ongoing economic uncertainties, the second quarter of 2023 was the second highest in volume in the history of OOH.
Several OOH product categories produced particularly impressive increases including:
- Legal Service +46.4%
- Domestic Hotels & Resorts +29.0%
- Colleges & Universities +20.2%
- Local Government +14.7%
- Hospitals, Clinics & Medical Centers +10.7%
- Consumer Banking +9.3%
“The [OOH] platform serves as an efficient, effective, and engaging conduit for brands looking to earn the attention of on-the-go consumers in an age of distraction and digital fatigue."
– ANNA BAGER
Growth in the OOH advertising sector is expected to continue. MAGNA, a leading global media investment and intelligence company, projects the out of home ad industry to grow 4.2% in 2023. Spending in this market is projected to reach $9.15 billion in 2023.
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Digital OOH advertising is particularly popular right now.
Digital OOH messaging is a newer development in the out-of-home media field. Not to be confused with online advertising, digital OOH media uses physical screens to display electronic messages. These digital signs can be activated and changed more quickly than traditional signage and may include features like scrolling, countdowns, and live updates.
- Digital OOH accounted for over 33% of sales in the second quarter of 2023, increasing 12.9% from last year.
- The digital OOH Transit category generated the greatest quarterly growth over the second quarter of 2022, increasing by 7.7%.
- Digital OOH advertising holds the largest share of the OOH ad market with a market volume of US$4.87 billion.
Are you ready to create an incredibly effective OOH advertising campaign?
Here at MSS Media, Inc., we’ve been providing Education, Government, Real Estate & Lifestyle clients with succinct, optimized, and successful marketing solutions for more than 15 years. Consider MSS Media, Inc. a full-service, one-stop shop for all your Media and Public Relations needs. Your goals are our motivation. And our mission is to propel your message, further and faster, to achieve the outcomes you’re looking for. If you found this blog post helpful, please share!
