Despite the rise of digital advertising and the prevalence of social media, Out of Home advertising is picking up steam once again. In fact, the global OOH advertising market is projected to grow at a compound annual growth rate (CAGR) of 4.4% between 2021 and 2026, according to a report by Mordor Intelligence.
Out of Home advertising, also known as OOH advertising, is a traditional advertising method that has been around for centuries. This form of advertising involves using any form of media that can reach consumers when they are outside their homes. It includes billboards, transit advertising, street furniture, and other forms of signage that are located in public spaces.
So why is OOH advertising making a comeback?
- One reason is that it is highly effective in reaching consumers on-the-go. In today’s fast-paced world, people are constantly on the move and often don’t have time to consume traditional media. However, they are still exposed to OOH advertising when they are commuting to work, running errands, or simply walking around the city. This means that OOH advertising has the potential to reach a large and diverse audience.
- Another reason for the resurgence of OOH advertising is the advancements in technology that have made it more engaging and interactive. For example, digital billboards allow for dynamic content that can be updated in real-time, while interactive kiosks allow consumers to engage with the brand in a fun and meaningful way. This type of technology has breathed new life into OOH advertising and has made it more relevant and exciting for consumers.
- Lastly, OOH advertising is a cost-effective way to reach a large audience. Unlike other forms of advertising, such as television and print, OOH advertising has a lower cost-per-impression, which means that brands can reach more people for less money. This is especially important for small businesses that may not have the same advertising budgets as larger corporations.
In conclusion, OOH advertising is making a comeback and is becoming an increasingly popular marketing strategy for brands. Its ability to reach consumers on-the-go, advancements in technology, and cost-effectiveness are all factors contributing to its growth. As the world becomes more mobile, OOH advertising will continue to play an important role in the advertising landscape.