I previously wrote a blog about what Advertima Smart Signage can accomplish for media agencies and networks through its targeting, measuring, and optimizing capabilities, arguing that it’s past time to adapt to higher needs for product understanding, and its ROI to stakeholders in the value chain. Below, I explain further what these key benefits are and how media agencies and networks can capitalize on making smarter advertising decisions.
You’re only as good as your relevancy capabilities
The average person is exposed to between 4,000 and 10,000 ads every day depending on where they live, so it goes without saying that advertisers need to make an impact to stand out among each other. There is the slight prospect of going viral with creative content, but a more certain way is to know confidently that your advertisement will be relevant to your target audience. Because Advertima Smart Signage can sense people in the physical world (i.e. detect the gender of your audience in real-time with an accuracy rate of 95%, estimate their ages with an average deviation of +/-4 years, etc.), your target audience receives content most relevant to them. This not only improves audience interest, engagement, and longer view times, but returns deeper data for advertisers for budget optimization and less wasted ad spend.
The public as a large-scale focus group
It is no longer enough to provide playback logs to prove an ad was shown (where, when, how many times). The DOOH industry now needs to focus on why the ad was shown in the first place. Why did the media owner allocate space for it exactly in its place and time, who did it reach, and how did the ad perform compared to other media networks? Advertima Smart Signage’s audience data provides these insights, not only by proving campaign ROI (e.g. reach, relevance, performance, media network yield, etc.), but also by lending key information for both brands and agencies to improve their products and campaigns. By bringing these tangible measurement variables to the table, the value of the ad channel is proven. You stop the guesstimating and reinforce trust, accountability, and transparency. Soon, media buyers will expect (if they don’t already) an end-of-campaign report that sums up the key data variables of their campaigns as essential data.
Smarter allocation = higher proven value of your assets
The theory here is simple: by automatically scheduling your campaigns smarter, they will need less screen time to meet the target objective of each campaign. Yes, this is based on the media owner evaluating their network based on audience reach rather than share of voice, but ultimately, it is the audience reach of the network that created its value in the first place. We need to value the DOOH industry based on its main commodity: the availability of an audience to market to. This mindset welcomes an onset of opportunities; advertisers can treat their media assets as one network instead of individual locations, be more flexible and adapt to changes in behavior, optimize the smarter use of inventory and free up available inventory to capitalize on existing media assets, and understand the real, available audience and demographic throughout your network.
All of the above enables media owners to capitalize on newfound inventory, reallocate content when needed, and adapt to changes in the real world (such as live public transport schedules, flight times, gate updates, etc.) Optimization really is to the benefit of the whole value chain; it caters for better targeting which means higher relevance, and it enables key measuring features that benefit buyers. Simultaneously, optimization provides intel to the media owner about key operating performance levels, and enables media owners to look towards the audience as the key asset in their operation, optimizing their selling, planning, scheduling, distribution and playback on that premise.
Many of the key data sources already in use have their value, but the true value comes from combining all these different sources of data for a holistic understanding of what is going on in the physical world. The change will start when media buyers begin to demand more insight and better ROI, and when the change comes, it will affect expectations across the industry.