Measuring OOH Advertising ROI
The OOH (out-of-home) landscape is strong and thriving; it works effectively, which is why it is used so frequently. However, you must be able to offer your clients the data that supports your faith in the medium’s performance. While many believe direct mailers or newspaper advertisements are preferable because they appear to be easier to measure, OOH is capable of generating concrete ROI results.
When evaluating the effectiveness of outdoor advertising, we must assess the following:
- Consider Location
We are talking about evaluating an outdoor advertising campaign that is in the appropriate place, targeting the correct demographic, has the proper message, and a compelling CTA (call to action).
Before continuing, familiarize yourself with the following acronyms:
- DEC: Daily Effective Circulation – The daily number of vehicles and pedestrians passing by your outdoor yard signs.
- OTC: Opportunity to Contact – This refers to the number of people that may stroll by and see your outdoor advertisement.
- VAC: Visually Adjusted Contact – The number of people who have seen your advertisement during the outdoor campaign.
- Measure the Traffic Pool
When calculating ROI, you must be able to estimate the size of the possible audience for your ad as well as the number of conversions made. Then determine what effect the campaign had on sales growth.
To access the OTC and DEC mobility figures, you may utilize:
- GPS devices
- Government surveys
- Road traffic counts
- Census data
- Before and After Method
One of the simplest, most straightforward ways to assess the success of your outdoor advertising campaign is to compare sales before and after the ad is displayed. Use this data to determine if there was a significant increase. If you notice there has been an increase, you can conclude that your effort appears to be working. If this happens to be the only metric you are using, ensure you are not running any fresh campaigns simultaneously. As a result, determining which efforts were responsible for the sales increase would be difficult. In this case, you should simply execute only one outdoor campaign at a time.
- Code Specific Campaigns
The use of campaign-specific discount vouchers, coupons, or QR codes is another effective technique to measure your outdoor advertising. You can count the number of people who have used it on your site, and if that particular code is used at checkout, you can attribute that sale to the billboard advertisement.
- Campaign Specific Microsite
You can also link the outdoor advertisement to a landing page or URL, and it must only appear on the outdoor platform you have chosen. You can be confident that the traffic to that landing page will come solely from the outdoor advertisement. Your analytics will then show you how many visitors from that URL go on to make purchases or sign up for something on your microsite. These are the best key performance indicators to use when calculating your campaign’s ROI.
Outdoor Advertising’s Impact
Online advertising is not the only approach to obtain information regarding a campaign’s success or failure. You may also use online strategies to track the number of conversions for outdoor advertisements. Measure the effectiveness of an outdoor campaign through codes, URLs, microsites, and more.
Outdoor advertising remains one of the most effective ways for a marketer to raise brand recognition and familiarity. It has an exceptional performance history and is still a top choice for advertisers.
Contact Frontline Media Solutions today if you are seeking a company that prioritizes your marketing needs. We offer yard signs, ground signs, sign walkers, mobile billboards, as well as other outdoor advertising services. Our advertising strategies will spark the interest of your target market and deliver an experience that they will never forget.