Budgets Shift Back To DOOH, Verizon Media Study Shows Reversal Of Fortune

Budgets Shift Back To DOOH, Verizon Media Study Shows Reversal Of Fortune

by  @lauriesullivan, November 19, 2020
 
Budgets Shift Back To DOOH, Verizon Media Study Shows Reversal Of Fortune | DeviceDaily.com

Data shows that while advertisers used more digital media on portable devices during the early stages of the COVID-19 pandemic to reach consumers, the trend continues to reverse.

In fact, many advertisers say they expect to increase digital out-of-home spending within the next six months, and 59% of the 250 U.S. advertisers say they expect to increase spending within 18 months.

Simply put, an increasing number of people are spending more time outdoors and this may become the easiest way to reach them, even in areas with a cold climate. To better understand this trend reversal around DOOH, Verizon Media commissioned an online survey of advertisers and marketers who spend in outdoor media. Responses were collected between September 14 and September 21, 2020

The findings show nine in 10 agree that DOOH is the right place to invest due to consumers’ device fatigue and a shift to people spending more time outdoors due to the pandemic, but it also notes 53% of advertisers find it “difficult” to buy DOOH today, and 29% have more difficulty buying the media now compared with six months ago.

The data shows that the three top obstacles for advertisers and marketers are the high costs, at 50%; finding the right partner to work with, at 44%; and managing and optimization, at 36%.

Some 50% of marketers said the top factor that could make buying DOOH easier is competitive pricing. Half also pointed to real-time audience indexing, such as ads only at times where there is a high concentration of your target audience. Nearly half, at 49%, point to the ability to quickly change the creative or the frequency of their campaign.

Nearly all buyers want one platform to plan their advertising. Some 93% are looking for an easy-to-use platform to plan and execute all advertising spend, including DOOH, and 88% of total users want platforms with exclusive inventory in DOOH.

Some 19% of marketers participating in this study ranked billboard DOOH advertising as the top format they are interested in buying, followed by buying ads in grocery stores at 10%, outdoor large screens at 10%, transit centers at 8%, and restaurant at 7%.

Verizon Media also asked advertisers about its role in the DOOH space. Some 88% of marketers said they are familiar with the services.

Advertisers who do not use Verizon Media’s DSP are nearly two times more likely to say proving a return on investment is a top challenge, and six in 10 non-users think competitive pricing would make it easier to buy DOOH.

MediaPost.com: Search & Performance Marketing Daily

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