Increasing digitisation of the outdoor advertising industry is likely to put the medium on a high growth trajectory in 2020, feel industry leaders.
Increased use of technology, data and programmatic advertising will drive outdoor advertising, which is likely to grow over 10% in 2020.
According to experts in the segment, more brands are likely to spend on the medium as increasing digitisation in outdoor is providing more flexibility with real-time decision-making options.
In a conversation with BestMediaInfo.com, the top leadership of Posterscope India (Dentsu Aegis Network agency) said that in 2020, DOOH (Digital OOH) will see a flurry of new advertisers and the medium will also find acceptance as a platform for video formats.
The agency expects to double up its current growth from programmatic DOOH in the next two years. At present, programmatic adds 12% to the total revenue of Posterscope.
“We are expecting the figures of programmatic to double up in 20-21 as DOOH will see an influx of new advertisers adopting the upcoming media,” said Deepak Kumar, EVP, Ambient.
According to Kumar, innovations will only fuel DOOH’s growth and make it popular among advertisers and consumers. This year will see DOOH being accepted as a platform for video formats.
"OOH is best suited for communication that can be contextual. With DOOH providing possibilities of instant creative changes, programmatic campaigns and locations-based intelligence, creatives can be served in line with current location analytics, thereby bringing in the missing link of customisation in OOH," he said.
In 2020, the agency will focus on consolidating its offerings, bringing in innovations and technology.
"We will continue to bank on the model we built in 2016 because that's what has worked well for our clients as well as for us. We aim to double up whatever we are doing in the next two-three years," said Haresh Nayak, Group MD, Posterscope India.
The agency has been eyeing revenue of Rs 15-20 crore from DOOH in FY20.
Nayak said Posterscope is on its way to achieving the target it has aimed for 2020.
"In 2019, we have done multiple campaigns in the traditional and DOOH space. We have used some great tech innovations to bring consumers closer to the brands. Despite the slowdown, I believe 2019 has been a good year for us. Our top line and bottom line business has increased and we are almost there in terms of meeting our expectations. We are very much on our way to the target we have aimed for 2020," he said.
Speaking on the challenges in the OOH Industry, Fabian Trevor Cowan, Director, Posterscope India, said, "Legislation and consolidation remain to be deterrents, and if there is positive movement on both, then the industry can jumpstart to levels that can change the ecosystem for the better."
But providing the right measurement also has been a challenge for the OOH industry.
"Posterscope has continuously pursued excellence in its delivery of OOH solutions. Measurement has been a factor that we have invested in and now it’s a staple in all our client associations," said Cowan.
Investments in newer data sets and automated platforms have positioned the agency to deliver measured solutions.
According to Cowan, OOH today is a critical choice for marketers because this platform has three distinct advantages that brands can leverage. Firstly, it is a non-intrusiveness medium; second it is a dynamic content; and number three is the power of context. "The combination of OOH and DOOH serves a special purpose for any brand wherein they can use dynamic programmatic content which can be catered to the right audience at the right place and at the right time. The combination of these factors makes the medium extremely effective and adoption will only increase in the future," he said.