Tuesday, February 27, 2024

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    Mediaweek’s A to Z of 2023: O is for Outdoor

    To wrap up 2023, Mediaweek is looking at the biggest trends, events, platforms, and brands of the year. Welcome to Mediaweek’s A to Z of 2023 … and beyond.

    By Elizabeth McIntyre, CEO OMA and MOVE

    Reflecting on this year and all that I have learned in my first nine months working with the Outdoor industry leads me to some truths about advertising.

    In an era where every dollar spent demands accountability, where ease of planning and buying defines success, and where granularity in data shapes flexibility, the landscape of Outdoor advertising in 2024 is poised for significant evolution.

    Financial Accountability

    We know that marketing budgets are scrutinised more than ever, and advertisers are compelled to reconcile every dollar spent. We are on the front foot of transparency and the OMA and our Members will be providing even more evidence of our channel’s effectiveness next year. This will take a variety of shapes from case studies to original research, on multi-format campaigns and well as multi-channel. Understanding the impact of every dollar spent will not only be a strategic advantage but a necessity for those looking to maximize their ROI.

    Simplicity in Planning and Buying

    The Outdoor industry’s path to standardise started some time ago and it continues with the launch of an automated Insertion Order platform, OASIS, this year. I predict that advertising as a whole will become more user-friendly and all media channels will continue to streamline processes that make planning and buying ad spaces more accessible than ever before.

    Included in this is the programmatic revolution which allows digital Out of Home (OOH) to be booked and fulfilled with a mouse click. The ability to seamlessly integrate Outdoor advertising into overall marketing strategies will become a key differentiator in the competitive landscape.

    Data Granularity

    The third truth revolves around the importance of granularity in data. The revolution that will be MOVE2 will fill the gaps that MOVE didn’t have the capacity for, including seasonal changes and regional and place-based audiences. And we’re seizing this opportunity to provide greater granularity— which means a lot of data.

    We’re working hard to put systems into place to ensure an amazing user experience, and this is spinning us into some truly innovative work. Our focus on better measurement and data-driven insights will present new opportunities for advertisers.

    As we move forward into 2024, the Outdoor industry is not just facing the future but actively shaping it to be outstanding. Together, with a shared vision for a thriving and dynamic landscape, we step into a year of possibilities, challenges, and uncharted territories, reaffirming that the journey has only just begun.

    See also: Mediaweek’s A to Z of 2023: 

    Top image: Elizabeth McIntyre

    The post Mediaweek’s A to Z of 2023: O is for Outdoor appeared first on Mediaweek.

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