Investment in digital out-of-home (DOOH) real estate is key to flourishing with clients in 2023. Photos courtesy Vistar Media
By Scott Mitchell
As we wrap up 2022, it is crucial for media owners and brand marketers to reflect on the challenges, trends, and successes they experienced over the past year, to accurately plan and predict what is to come for the advertising industry. Dynamic creative, a focus on sustainability, the expansion of audio out-of-home (OOH), and even the emergence of advertising in the Metaverse, are just a few of the advancements likely to continue their evolution in 2023
and beyond.
When it comes to making lasting impressions, OOH media is a no-brainer for marketers who want to integrate their brand into a consumer’s daily journey, in a way which yields maximum impact for the brand with minimal disruption to the consumer. In fact, by 2026, digital out-of-home (DOOH) advertising is anticipated to grow by 10.3 per cent and reach a global market size of US$33.3 billion (C$42.7 billion)—up from US$16.7 billion (C$22.1 billion) in 2019.1
In light of this development, it is critical for sign owners and operators to keep their finger on the pulse of trending advertising best practices, to ensure they are aligned with the future of OOH and are using it in the optimal way for their clients.
Adapting to financial uncertainty
Earlier this year, as pandemic restrictions loosened, many advertisers had to address a unique challenge to realign with shifted consumer behaviours. This also presented an opportunity for media owners to re-engage with brands looking to grow along with their target audiences.
Later, rising interest rates and a looming recession became the underlying reasoning behind most business decisions. As we move forward into the new year, it is important advertisers continue to consider these factors when selecting the appropriate media to meet brand and consumer needs.
Flexible advertising strategies
After multiple shifts in 2022, some brands have been unwilling to commit to large-scale, locked-in investments. This is where programmatic offerings come into play. Programmatic DOOH advertising has the added value of flexibility and can accommodate tightening budgets and resources while still retaining customer loyalty. It offers marketers an opportunity to shift campaign messaging, allocate budgets across various advertising mediums, and even pause, shift, and reduce spending as necessary. In fact, programmatic DOOH has been on the rise, thanks to its flexibility, targeting, and measurement capabilities. Sixty-seven per cent of media buyers say the flexible buying options are a major reason for considering programmatic DOOH.2
