Perhaps you’ve heard of OOH before—but if not, you’re probably wondering what this funny little acronym means! OOH stands for “out of home,” which is a type of advertising (just like newspaper, television, and digital). As the name suggests, it includes pretty much any ad that you find outside of your home. This means billboards, bus benches, gym and restaurant screen ads, giant wallscapes, and even movie theater pre-roll advertisements.
OOH has some skeptics; people wonder, isn’t it a dying form of advertising? Do people even pay attention to billboard ads? Is it worth it?
Well maybe we’re a little biased, but we believe out of home advertising is absolutely worth it! We’re going to dispel some of these critiques and show you why OOH ads are an excellent investment for your business.
Take Advantage of an Impressive Return on Investment
One aspect of OOH that many people don’t know about is the remarkable return on investment (ROI) that it offers. One source reports that 96% of marketers who use OOH ads see a revenue increase of 50% on average. This is a massive monetary gain that can be used to grow a business. The study further showed that in addition to just an increase in profits, these businesses saw an increase in engagement, traffic to their website, and overall brand awareness.
And if that wasn’t enough to convince you to buy a billboard right now, check out these stats on CPM: Cost per thousand views, or CPM, measures how much, on average, one view of your ad costs. This amount varies across a multitude of ad formats, and OOH has one of the best ones! TV, print, and radio ads all have CPMs that run around $6-39, while OOH’s CPM is only around $2-7. This is an incredible value, which may be unexpected for such a big and bold form of advertising!
Utilize an Ad Format That Stands Out in the Crowd
One of the big questions with OOH ads is: “do people even notice them?” The short answer to that question is “yes!” One study reports that 71% of drivers are actively looking at billboard ads as they drive, and 50% of people claimed that they have been “highly engaged” with the recent billboard ads that they have seen. OOH advertising is especially impactful in big cities; another study states that out of home ads influence the buying choices of around 34% of consumers who live in areas with a population over 1 million.
Plus, you can make sure your ad isn’t lost in the shuffle; one of the issues with the online ad space is that, although lucrative, it is incredibly “noisy”—this means that you are having to compete with hundreds and thousands of advertisements that an internet user will come across. The beauty of OOH is that you are often isolated—on a board or a screen, —not surrounded by the messages of a mass amount of advertisers all at once. Coupled with the fact that most OOH ads are large and eye-catching, you have a recipe for a successful ad.
To Sum it All Up
Out of home advertising is an investment worth considering for your business—visit billboardsin.com today to see what options best suit you!