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Discover how radio can adapt by learning from the digital transformation and collaborative success of the out-of-home (OOH) advertising industry.

What Radio Can Learn from the Resurgence of Out-of-Home (OOH) Advertising

In recent years, out-of-home (OOH) advertising has made a significant comeback, despite challenges like the loss of traffic data once relied upon to sell billboard advertising. As municipalities cut budgets and traffic counts were reduced, the industry had to adapt. However, the resilience of OOH has shown how it can continue to thrive in a digital-first world.

The Rise of Digital Out-of-Home (DOOH) Advertising

In 2017, the Canadian Out-of-Home Marketing and Measurement Bureau (COMMB) came together to find a way to model impressions for OOH ads, specifically in a digital environment where advertisers were used to the kinds of analytics provided by platforms like Google and Facebook. This shift to digital out of home (DOOH) advertising is a prime example of how traditional outdoor advertising can evolve with the times.

As more people started working from home, OOH advertising faced the challenge of reaching consumers at different times and in different places. Even with traffic volumes down as much as 75% during the pandemic, the industry managed to rebound quickly, largely due to the ongoing investment in fast-food advertising and the adaptability of billboard advertising.

How Outdoor Advertising Pricing Has Adapted

The cost of billboard advertising has long been a factor in determining how effective and accessible these ads are. With billboard rental and billboard ad costs varying greatly depending on location and demand, understanding billboard prices is essential for businesses aiming to maximize their marketing budgets. In fact, the rise of DOOH ads has made it easier to track the performance of these campaigns, allowing advertisers to make more informed decisions.

Billboard advertising rates fluctuate depending on the size, location, and digital capabilities of the billboards for lease. For example, highway billboard advertising typically costs more due to the high volume of traffic, but bus stop advertising and bus shelter ads may offer more affordable options. Digital out of home media also provides additional benefits, including real-time performance metrics.

Learning from OOH: How Radio Can Adapt

Radio, like OOH advertising, has had to adapt to changing consumer behaviors. Michele Erskine, the VP of Out-of-Home for Astral, emphasized that even though people aren’t commuting like they used to, they are still "out there" in different locations and at different times. Radio can learn from the OOH advertising industry’s ability to embrace digital tools and improve their measurement methods.

For OOH advertising companies, particularly in bus shelter advertising or outdoor media spaces, embracing new technology such as DOOH ads has allowed for better targeting and increased engagement. Through this, advertisers can access billboard ad rates and billboard ad prices more effectively, leading to better outdoor advertising costs analysis and a greater return on investment.

The Value of Collaboration in OOH Advertising

One of the key takeaways from the success of OOH is the spirit of collaboration. In an industry where competition is fierce, OOH stakeholders came together to improve measurement and data collection. This effort helped billboard expenses become more transparent and provided a clearer understanding of outdoor advertising costs.

As radio looks to adapt, Erskine points out that the industry needs to unite to develop better metrics and systems that will speak to the needs of advertisers. Like the OOH ads, radio should look to digital billboard advertising for inspiration, working to establish a unified approach to data collection and billboard rental.

Conclusion

In conclusion, the resurgence of OOH advertising provides valuable lessons for industries like radio. By embracing digital transformation and improving measurement tools, companies in the advertising sector can help clients achieve better results and streamline advertising outdoor campaigns. Whether it's billboard sign cost or transit shelter advertising, the billboard ad rates of today are evolving rapidly, allowing advertisers to reach audiences with increased precision and effectiveness.

By learning from OOH advertising's adaptation to the digital world, radio and other traditional advertising platforms can embrace similar innovations, ensuring continued growth and success in a competitive market.

 

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