Laqshya Media Group (LMG), the independent media conglomerate, has launched ‘SHARP’ (Strategic Hyperlocal AI-powered Reach Planner), a state-of-the-art planning tool for measuring the effectiveness and media value of outdoor campaigns.
This is India’s first-ever measuring tool, developed in-house by LMG, that allows brands to target the right audiences with reach or budget as an objective for an OOH campaign.
The OOH tool uses machine learning to deliver AI-optimised metrics and recommendations. The system is fed with data received from more than 50,000 geo-tagged sites comprising billboards, BQS sites, mall facades, pillars and poles across 26 cities.
SHARP combines diverse data points, including geotagged OOH locations across formats, a traffic measurement study by a global research agency, multiple databases to map and measure the current profiles of resident and transit population and panel rating points and various other site factors with the data on thousands of sites across multiple OOH formats. Each site is geo-tagged and cross-linked with Google-map APIs to indicate various relevant points of interest like banks, auto showrooms, etc., from the site. SHARP is also coded to differentiate between multiple (stacked) billboards at the same location with indicative pricing per site.
Alok Jalan, Managing Director, Laqshya Media Group, said, “As an industry leader, it was but natural that we had to resolve client concerns about the lack of measurement metrics in the OOH Industry. SHARP has been the outcome of months of hard work and is unmatched in its ability to give a scientific rationale for an OOH campaign.”
A massive immersion of data and technology has been done to generate the right algorithms for machine learning. In addition, APIs of numerous consumption economy platforms have been integrated with the software to have a dynamic tracking of consumer interest points. With better data and targeting, brands will be better assured of return on OOH investment, which in turn has the potential to alter the share of wallet for the medium.
Sai Nagesh, Chief Strategy Officer, Laqshya Media, “SHARP was developed in response to the growing demand by brands who wanted quantification of results delivered by an OOH campaign. The software relies on machine learning to deliver AI-optimised recommendations for the most effective results in a client defined target audience. Allowing clients to identify locations with the highest audience density in order to reduce spill-over, an OOH campaign’s reach and effectiveness is now quantifiable. Apart from providing valuable campaign optimisation opportunities, it lists the touchpoints available within the neighbourhood of an OOH asset as per Google defined touchpoints available on the Google maps API. The days of gut-feel and assumptions are over!”