Marketing and advertising research is forecast to keep growing over the next few years, with a study by Falmouth University predicting that by 2018 gross value added in the industry will reach around £13.1 billion. This is an increase of approximately 26% from 2014. As the UK economy continues to grow companies are increasing the amount of money allocated to marketing, recognising the higher spending power of consumers.
An area which is profiting from the digital revolution is Out of Home advertising. As more digital screens are installed around urban areas the reach of digital adverts spreads, with a study by FEPE International finding that of the 72% of consumers who take action after seeing an OOH ad, 62% did so after seeing a digital OOH advert. The study also reports that the majority of respondents are most swayed by adverts which are tailored to certain times of day or location. With more money pouring into marketing campaigns, companies are able to exploit the freedom digital adverts offer and differentiate their campaigns to appeal to a broader range of customers. One company who is utilizing the OOH digital opportunities is very.co.uk, who has launched a two week Christmas campaign featuring a new deal each day.
But the OOH interest isn’t limited to digital – studies show that adverts in the underground and railway stations are the most effective way to promote products and services to people in an ‘entertainment seeking’ mind set. This is great news for smaller companies who may not have the budget to launch a digital OOH campaign and want to communicate with a wide range of people.
OOH adverts are offering companies a unique and exciting way to communicate with specific groups in society, and are becoming a necessity for successful wide reaching advertising campaigns. Let us know on Twitter which digital OOH advert you love @OOHint