From static roadside billboards to digital billboards and DOOH screens in urban landscapes, OOH advertising adapts to engage busy individuals. Its role in building brand awareness and fostering offline engagement remains significant, even in the digital age. OOH campaigns, by connecting with consumers in their physical surroundings, leave lasting impressions that resonate long after exposure.
However, measuring the impact of OOH campaigns has been a persistent challenge for marketers and advertisers. Traditional methods relying on factors like traffic counts and anecdotal evidence left room for uncertainty. In an era where data-driven decisions rule, there’s an increasing need for precise measurement techniques to justify investments and optimize campaigns.
Introducing OOH impression multipliers.
Impression multipliers, especially in the context of digital OOH (DOOH), have emerged as game-changers to address the one-to-many nature of OOH advertising. But what are impression multipliers, and how do they work? In simple terms, they estimate the potential viewership of an OOH advertisement.
Using diverse location data sources, impression multipliers enable OOH advertising to be planned and purchased in ways similar to digital advertising. By combining this data with demographic insights, marketers gain a deeper understanding of their audience. For instance, a digital billboard in a bustling city center can attract a diverse range of people, each with unique interests and preferences.
How impression multipliers make it easier to plan OOH campaigns and include them in omnichannel campaigns.
Impression estimates, particularly impression multipliers, help media owners establish trust and credibility with advertisers and clients. Providing precise data on the reach and impact of OOH campaigns allows media owners to show the effectiveness of their advertising spaces, which leads to stronger client relationships.
Increasingly, media owners are collaborating with data providers and developing their solutions to offer dynamic impression estimates. These estimates have become a fundamental requirement for trading DOOH inventory programmatically, enabling demand-side platforms (DSPs) to present inventory potential to advertisers.
Even for traditional site owners, offering reach and impression estimates facilitates the seamless inclusion of OOH in omnichannel media plans.
Components of OOH impression multipliers.
As OOH advertising businesses seek to increase the medium’s share in ad budgets, lack of precise measurement appears to be one of the main obstacles. Impression multipliers emerge as solutions for advertisers seeking data-driven insights into the effectiveness of their OOH campaigns.
Selecting the right impression multiplier is a critical decision for OOH media owners and advertisers. To make an informed choice, consider the following key factors:
Data Sources: Thoroughly examine the sources of location data used by the impression multiplier. Data accuracy and diversity are vital. Seek solutions that integrate various data streams, including population data, traffic patterns, mobile location data, and IoT sensor data.
Customization Options: Flexibility in incorporating first-party and third-party data is essential. It enables the tailoring of insights to meet the unique requirements of your OOH advertising campaigns.
Forecasting Capabilities: Effective impression multipliers should provide comprehensive campaign forecasts and performance reports, empowering you to make informed decisions and optimize your advertising strategy.
Competitive Advantage: The chosen impression multiplier should give you a competitive edge and instil confidence in potential clients, making your advertising space more appealing.
User-friendly reports: Consider the ease of sharing and collaboration using insights from the impression multiplier. Online reporting and data export options should be user-friendly.
Using impression multipliers helps unlock the full potential of OOH advertising in the digital age. If you’re eager to explore the possibilities and enhance your OOH advertising strategy, consider seeking guidance from professionals like LMX. They can provide valuable insights and help you make an informed decision tailored to your unique needs.
To get in touch with the LMX team, please contact marketing@lmx.ai
About LMX
Location Media Xchange (LMX) is the supply-side arm of the Moving Walls Group, providing enterprise software solutions for Out-of-Home media owners. LMX’s offerings include Revenue Management, Inventory Management, Connector to Programmatic Advertising Demand, Audience Measurement, and Dynamic Content Management, among other capabilities. Today, more than 500 media owners worldwide trust the LMX platform.