Outdoor advertising – one of the oldest; however, recent changes in technology and increased customer awareness require overestimation of advertising strategies. Although it is true that traditional models of outdoor advertising are losing popularity, experts also believe that UN advertising is returning, because consumers are tired of the constant bombardment of offers on the Internet and smartphones.
Ignoring the significant impact that the industry saw in 2020 due to the outbreak of the pandemic, it is expected that in the coming years global spending on external advertising will grow: from 23.36 billion dollars in 2020 to 20.7 million dollars per year to 25.78 billion dollars growth rate (CAGR) 10.4%. Growth is mainly related to the restructuring of companies with their activities and recovery after the impact of COVID-19, which was previously assigned to the boundary measures of restraint, including social distancing, delimitation and deletion. Experts also predict an increase in the UN market to $ 33.54 billion by 2025 at an average annual growth rate of 6.8%. It should be noted that most of the growth forecasts from UN advertising are in digital formats, and not traditional.
Advertisers can use this knowledge to increase the profitability of investments at the expense of realization of new trends.
Growth of advertising opportunities
Recent technological innovations have expanded the possibilities of outdoor advertising, especially digital. Instead of large billboards, advertisers use smaller advertisements in crowded places, such as airports or public transport. In fact, deaf walls have also become a good alternative to traditional outdoor advertising, although they can be used to project advertisements.
For example, digital outdoor advertising at airports allows displays to switch between different advertising advertisements in the same limited space. Thus, the multimedia block saves space, does not provide for the cost of wear, repair and replacement of traditional advertising blocks and provides a round-the-clock vision of the brand, which is an effective advertising solution. This, in turn, allows the advertiser to save on printing and other expenses, creating a mutually beneficial situation for all interested parties. DOOH provides advertisers with valuable data about consumers, allowing the generation of insights, as well as marking areas that require improvements.
Outdoor advertising becomes more creative.
This year, managers will need to use the approach to advertising, based on data. Using the potential of science, companies can use a laser beam to target their desired demographic groups so that they can effectively use the campaign budget. Exactly the same as the technologies of digital marketing, beacons, radios and the Internet can be used to understand the schemes of interaction for outdoor advertising. In the end, managers should offer innovative ideas about how they can use “big data” to optimize models of outdoor advertising.
10. The end of empty promises in 2022
Brands must understand that a genuine and sincere acquaintance is the only way to do long business. Thus, transparency will be the key to success in 2021. All, starting from promises, conditions of work, use of aggressive ingredients and political affiliation, will become more and more intimate attention.
This means that advertisers can no longer separate themselves from dubious statements and empty promises. Targeted advertising becomes the rule of the future, although advertisers are either adapting to this trend or are suffering from its consequences. Exactly the same brands will be more careful in their efforts to outdoor advertising, because authenticity will inspire trust in the audience and will help advertisers to expand their business.
Ignoring the number of online channels, outdoor advertising, including DOOH, will strengthen its status as a viable option among advertisers; only brands should guarantee that their outdoor advertising is synchronized with their social ads. It will not be an exaggeration to say that outdoor advertising will not die and in 2021 it will be even better.