The Out of Home Advertising Association (OAAA) worked together with the Harris Poll regarding the efficacy of DOOH (Digital Out Of Home advertising). The report summarizing their findings was released at the end of April this year (2024) and contains some truly spectacular news for business owners. Here’s a summary of the findings in the report:
The Market Continues To Enjoy Strong Growth
In fact, fully one third of OOH advertising spending over the past 12 months was directed at digital billboards of various types, and that value is expected to grow further over time. There’s no reason to think that it will not ultimately become the dominant form of outdoor advertising.
Consumers Prefer and Take Action from DOOH
One of the key drivers of the aforementioned growth is the fact that consumers find such advertising to be incredibly motivating, with a staggering 73% of consumers surveyed reporting a favorable view of DOOH, compared to the 50% favorable rating for TV and video ads, 48% for social media, 37% for online, 32% for audio and 31% favorable for print ads.
It gets better because consumers not only like digital advertising better, but they are more responsive to it, with 76% of consumers surveyed indicating that they’re likely to take action after viewing DOOH, including such actions as restaurant visitation, store visitation, in-store purchasing and word-of-mouth conversations with other consumers.
The Vast Majority of Consumers Find Contextual DOOH of Value
Not only does DOOH increase in-store traffic as described above, but a stunning 86% of consumers find ads with special deals on groceries of value, with 84% feel the same about ads featuring special deals to restaurants, and 81% finding value in ads with product-related deals.
No matter how you slice it, DOOH advertising is the future, and if you’re not actively plying the waters of that particular market, you’re missing out on a tremendous opportunity to take your business to the next level.