After four years of research and development oOh!media has unveiled its new data science product, Smart Reach, which it says will result in digital and printed classic billboards getting in front of 25 per cent more of the “right” audience by making it easier to pinpoint the best location for them.
oOh!media chief executive officer Brendon Cook said the project, developed in conjunction with Quantium Research and Dspark, is a key plank in the business’ strategy to stay in front of the game to ensure boost opportunities for return on investment growth for customers through an understanding of audience behavior at particular locations.
“It is the most robust data grouping by location anywhere in the world. Now that is a big statement but it is a factual statement. There are 2.5 billion transactions annually that make up this, 18 million weekly journeys and there is three million geo signals per day and two trillion data points,” Cook told a media briefing on Thursday.
“Each of those data points are mapped to each location and summarised into 500 audience segments that gives the most relevance to buyers, to behaviours, to travel movements related to events that has ever been done anywhere in the world.”
To set the parameters of this extensive project, oOh!media, in addition to locations, also used neuroscience to develop an understanding of creativity and its role when development an equation of success. Scale to deliver on that was the third plank.
“Smart Reach is about the ability for advertisers to reach more of the people they really want to reach on location with accurate robust data.”
Cook also pointed out that in the Australian market out of home (OOH) advertising plays a huge part in total digital returns and that a combination of media in the advertising mix is the best recipe.
“To maximise the result in OOH and to achieve a multi media mix result you also need a multi format solution within the out of home campaign and what it shows is that three or more products delivers the most effective and efficient way to increase ROI,” he said.
Cook was clear that digital billboards will never replace classic printed boards in this space.
“Classic is still a very very important brand and the reason we called it Classic and changed it from Static was because Classic implies longevity implies performance and that is exactly what that product delivers,” Cook said.
“Physically of course there is always going to be regulations that prevent you but there are also rational and clear reasons why we want a strong Classic inventory as a mix with our digital inventory. In today’s new world classic delivers that ability for brands to really create an own a particular set of spaces and that’s a rarity amongst other media. So we really see Classic as important and part of our future just as digital is an important part of our future. They are different products and they offer different opportunities for clients who integrate with them and in some instances clients will over index classic and over index digital depending on their specific campaign needs.”
“What this means for OOH is we can now pitch for more of the $14b to $15b media pie than we have ever been able to pitch for.”
“Classic is a key part of Smart Reach. All classic sites are included in Smart Reach to provide that opportunity for clients to understand that as well.
“We see Classic as a critical part of that because we have always been ethical and in a fast paced world where clients are going shorter we are turning around our classic inventory print faster. We are trying to print quicker and faster to try and meet the demands of clients that are making later decisions.”
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