Out-of-home advertising has been significantly transformed due to the introduction of new mediums, technologies, and formats to ensure advertising messages reach the desired audience. Today, OOH is rapidly expanding and global spending amounts to $29 billion in key markets.
The OOH industry has been changing rapidly and is, now, no longer restricted by time or location. Hence, whether that’s billboards at Times Square or dynamic signages that display different ads, anything is possible.
OOH advertising does come with its limitations. Advertisers often struggle with ensuring the ads reach customers in contextual and personalized ways. This is where technologies like location-based beacons come in. Beacon technology is beneficial to OOH spaces as it allows them to deliver messages directly to the target audiences through smartphones.
Apart from this, beacons also play a massive role in OOH advertising because it helps gather valuable data. Due to their unique abilities, OOH advertising can be utilized in multiple forms across all mediums.
Here are a few ways location-based beacons add value to outdoor advertising:
Limited time offers
With this new technology, brands can promote limited time offers, such as special edition promotions, festival discounts, and limited sales, for high conversion rates. Advertising for such limited time offers can help create a sense of urgency and encourage customers to take action using beacon-based solutions.
Some products and services are only offered in specific seasons and differ according to time and location. For instance, summer wear, sunglasses, and air conditioners would mainly be in demand during the summers. Hence, geo-targeted campaigns that are created to promote seasonal products are an excellent way to improve seasonal sales.
Many large brands have mobile apps that aim to create physical and online experiences, simultaneously, for their target audiences. These brands can benefit from beacons for their OOH campaigns.
Beacons provide a geo-targeted, personalized, and unique customer experience. It also accumulates and provides granular insights and data that is incredibly useful for brands that want to identify marketing trends.
High involvement purchases
Some products and services are complicated and, to make a sale, prior research is required. Such products and services are known as high involvement purchases because of the effort needed from the consumer’s end.
These products often include products that are costly, such as computers, gaming consoles, fitness equipment, and financial products. When brands are promoting these products, they build comprehensive campaigns that communicate the value proposition. It’s important for brands to promote such products at a time and place where customers have the time to engage with this advertising content.
Physical locations and stores
Beacon-based OOH advertising can be effectively utilized for brands that are heavily dependent on their physical presence. Such brands often include shopping malls, retail stores, stadiums, restaurants, banks, and movie halls.
High dwell time experiences
There are some locations where audiences have a lot of time available, such as those traveling on trains and buses, people waiting in line at stores and hospitals, and those in transit at airports.
These occasions provide brands with an excellent opportunity to attract their audiences’ interests since they won’t be easily distracted. Sending content on their smartphones at such touchpoints can lead to high levels of brand engagement.
Beacon technology provides brands with excellent opportunities to leverage OOH advertising to target customers like never before. They complement physical media assets and offer advertising opportunities specifically tailored to a target audience. What brands need to do is analyse the data they obtain for accurate targeting efforts. Through data analysis, brands can gain insights and improve overall conversion rates and help build brand retention.