Digital Out Of Home Market
Digital out-of-home (DOOH) advertising is an outdoor advertising medium that uses electronic display technology to create and display specialized digital images. DOOH refers to any form of out-of-home media utilizing displays with moving or fixed digital imagery, video, and/or animation. The term ‘digital out of home’ encompasses a range of display technologies and media including LED, LCD, Plasma, etc. The digital-out-of-home market has been growing at a steady rate and is expected to continue doing so.
The digital-out-of-home market can be divided according to products and services, display technologies, and display type. Under the category of products and services fall the automobile industry, personal care, beverages, food and snacks, retail products, home textiles, and items. The display technologies used can be indoors or outdoors. And as for display types, they can be billboards, in-store displays, kiosks, etc.
What Affects The Digital-Out-Of-Home Market?
Cost Of Screen
The cost of the digital screen on which ads are to be displayed impacts the digital-out-of-home market. This price is determined by the technology and hardware used for displaying ads. Both the advertisers and the media buyers are concerned about such an issue as they would like to get more (quantity of ads) for a lesser price. This means that both the parties work together to put up new technologies and also look for ways on how to decrease their operating costs.
Demand
The more demand there is for DOOH there would be more money that is spent for this purpose (advertising). Therefore, the market grows and makes it economically viable. This however has to be balanced with the increasing cost of business due to increasing demand.
Technology
A new technology that comes into effect changes the way we look at things as well as its advantages as compared to the old technology. Examples for this include 3D display and projector screens in place of traditional LED screens which have been ruling the DOOH industry. So even though they might be costlier, people will still go for them since it is going to impact their business positively.
Prevalence Of Online Advertising
The more popular online advertising gets, the more risks it poses for the DOOH market. Since there is a huge chunk of people who view their products and services through the internet, they would rather download an advertisement or visit the website of that company than have to go for outdoor media.
Should I Invest In Digital Out-Of-Home Advertising?
In today’s world, it is important for a business to have an online presence since that has proven successful in building a brand name. However, having said so, digital out-of-home advertising is not going down any time soon. The reason is that people still prefer to go for offline media rather than online ones. This only proves the demand for DOOH and hence it will be around for some more time. Therefore, yes, it is worth investing in such a thing as digital out-of-home advertising since it has positive returns on the money invested.
Digital Out-Of-Home Advertising Offers Many Advantages To Both The Business And To Its Customers. Some Of These Are:
Businesses
By advertising online businesses can reach out to a large number of customers. But with the growing popularity of online advertisements, DOOH is now moving towards providing customer loyalty and personalized offers that would improve the chances of conversion. Going for such an option ensures that one gets more than just advertising space.
Customers
As a customer, it is very convenient to see your favorite store at the bus stop or on the billboard of a building. One can also opt for personalized deals from their favorite departmental store and get special price offers only for him/her. In addition, one can go through an interactive medium such as kiosks which makes him or her feel more engaged.
In today’s time, people have multiple means of entertainment and get easily distracted from their main purpose which is to get business done. In such an environment, digital out-of-home advertising provides a platform where businesses can reach out to a large number of customers without being disturbed by other factors. This also ensures that business owners pay for what they expect to get.