Outdoor advertising also known as OOH or out of home advertising is one of the oldest and traditional forms of advertising today.
Whether you are a small level business or a corporate brand you can’t avoid OOH medium, though digital mediums are getting stronger day by day but outdoor has its own benefits.
OOH Medium is a push form of advertising but it’s very effective to create a strong brand or business presence in the market.
Though the share of outdoor spending has decreased in the past 2 years, it’s expected to grow again.
It’s also observed that more than 10% of marketing budget goes to outdoor advertising and most of the brands consider it on priority while launching any campaigns.
What Is Outdoor Advertising And Why Is It Important?
Outdoor advertising also known as OOH (Out of Home Advertising), outdoor advertising is a method of advertising, where consumers are targeted when they are out of their home.
As consumers spend most of their time outdoors, either traveling for work, shopping, or for other personal and professional activities, outdoor advertising is very effective.
Importance Of Outdoor Advertising
- Any form of outdoor advertising whether it’s a billboard or a small display board or any display showcasing a brand name has an impact.
- Outdoor advertising helps you to build your brand due to its recall value.
- You can customize the display and can do the innovation or you can also change the display in different intervals.
- Consumers immediately respond to outdoor advertisements as larger formats have an impact in the minds of consumers.
- Unlike other media like print and digital, outdoor advertising is long term and its a cost effective also.
- Outdoor advertising also helps you and supports your other online marketing efforts that you put for lead generation. So make sure you plan all at a time so that these offline efforts support your online strategy too.
What Are The Different Types Of Outdoor Advertising?
There are many types of outdoor advertising options available, whatever you see outside your home in the form of display ad is a form of outdoor advertising.
Here are some of the known OOH Ad formats:
- Wall Painting
- Billboards (Hoardings)
- Static Billboards
- Mobile Billboards
- Digital Billboards
- Bus Shelters
- Point of Sale
- Floor Ads or Graphics
- Life Graphics
- Mall Media
- Display on Transit Media
- Display Ads on Railways
- Display Ads on Metros
- Display Ads on Buses
- Display Ads on Vehicles
- Building Wraps on Construction sites
Outdoor Advertising’s Advantages And Disadvantages
- The medium is cost effective as compared to other media.
- Outdoor Ads create an immediate impact on consumers.
- It encourages the immediate buying
- Frequency and exposure to consumers due to a long term display of advertising.
- Flexibility in case of geographic locations can help you to plan different ad campaigns at different times unlike if you are doing a print ad at national level, you will have to capture all the markets.
- OOH advertising helps you to build your brand faster as it has high impact and visibility.
- You can target specific audiences.
- It’s difficult to recall or note contact information as most ads are watched while travelling.
- If the display is damaged or lost, you have to bear the expenses of printing and mounting again.
- In case of back lit displays, due to damage or loss of connection, you may lose the visibility of your display.
- You can track the mounting of display ads on each media in real time.
- Here you can provide limited information, though the formats are large but average time spent on each ad is lesser as compared to digital and print media.
Outdoor Advertising Strategy For Real Estate Business
It has been observed that while doing a project launch many of the developer or marketing managers don’t focus on making a strategy for outdoor advertising.
They just focus on buying strategic sites known to them or media that are located near to their sites. Which is actually a wrong approach.
Outdoor advertising has evolved a lot in the last 5 to 10 years. Now it’s not only restricted to a few mediums but with the right communication, you can do various innovations to reach your target audiences and catch their eyeballs.
These days marketers and agencies prepare a full funnel communication considering the different formats and locations of ooh media.
Now, the digital placements on different ooh ad formats are also available on airports, railways, metros and many other transit media. Where you can place more than one communication.
The other format which is getting popular these days is AV displays, where you can deliver your message through short videos on small billboards.
Let’s explore some of the best OOH strategies that can help you to create strong brand presence in the market and help you to drive more sales for your project.
Out of Home, can’t be restricted to one single strategies, here are some of the best strategies you can consider while planning:
Target the Project Locality:
Real Estate is more of a local business and it’s observed that many of the people prefer to buy the new home in the same vicinity or a locality known to them. While making a plan for a launch, one should never miss to target the local market.
The targeting can be upto 5 to 10 kms in the vicinity of the project. By targeting the nearby areas of the project you are surely going to create an impact at the local level.
Targeting Entry & Exist Points of the City:
The best thing about OOH is you can target 2 cities or 2 entry points of your location at the same moment by placing a display on main entrance and exit locations of a city.
It will not only give you better reach but also it will have a good brand recall as it will have the exposure to traffic and people who travel every day.
So, while planning for your project make sure you consider the exit and entry points of the city of your project.
Strategic Locations of City:
You can also consider all the strategic locations of the city like main markets, schools, colleges, high traffic areas, traffic signals, nearby station locations, corporate parks, nearby airport places etc for targeting your target groups.
Mapping your campaign plan at these locations for a shorter period also can give you a better ROI and you can also use these locations alternatively at different times during your project cycle.
It will not only save your marketing cost but also gives you a better visibility and ROI.
Targeting Public Places:
Targeting public places further depends on the ticket size of your project if you have a low ticket size product. For eg. 1 BHK or 1 RK within a budget of 40 to 50 lakhs then you should target different public places.
As you have already evaluated that your target audience works at the local market, travel through public transport and their earning capacity is such that they can buy your product.
Based on the targeting you can plan public places as daily exposure to your project on these locations will help you to generate more and more leads.
Go for a long Term Plan:
Consistency is the key to success in OOH advertising, if you don’t plan a long term strategy, you may lose an eye and your competition may take advantage of that opportunity by buying that strategic media.
Once you start the campaign, you should start tracking the ROI from each media and location. Based on the response of the media, you can plan to continue some of the media for a longer period and discontinue the remaining ones.
Also, real estate projects take a few years to complete and if you plan for a shorter period, people may forget about you while they are planning to buy their homes, hence your brand should be visible to them so that they can consider your project too.
Add Different Formats In Your OOH Media Plan:
While planning an outdoor strategy, don’t just stick to one medium for example don’t just plan for big billboards or bus shelters only.
If you have an audience, who travel on train or any other public transport go for it or if you feel your audience goes to the theater or mall on every weekend then go for it and plan on screen ads or mall media.
So, here you are planning not as per your liking of media but as per the target audiences. So you should know their lifestyle and what they do throughout the day, where they reside and where they travel when they are out of their homes.
Real Estate brands don’t do much innovations, but it’s one of the best strategies to attract eyeballs.
If you do an innovation of any of the media sites with innovative communication, you can easily attract your audiences and create a space in their mind.
Innovations will help you to spread the word through word of mouth and your innovations may also go viral on social media, which will give you more exposure and create a distinct identity of your brand.
If you are stuck in planning the outdoor strategy of your project, you can contact me to discuss the same.
Outdoor Media is valuable to create brand awareness and to have an impact on the mind of end-user. Today, you can use DOOH also to communicate your message with multiple displays like digital. Make sure you do not miss out on the OOH media while planning a promotion of your real estate project.
Follow any of the or all the given strategy and you would be able to generate more leads and attract more and more buyers to your project.
How much should one invest in outdoor advertising for a real estate project?
That depends on the company’s budget and project budget. Generally, more than 10% to 15% are allotted to outdoor advertising by many of the companies from the marketing budget.
But it also depends on the availability of the form of media. If the city or a locality doesn’t have many options to explore then more budget can be added to outdoor advertising.
Which are the three main types of outdoor advertising?
There are many formats available in outdoor advertising but generally, three main known outdoor advertising formats are Billboards (Hoardings), Bus Shelters, Point of Sale Advertising, Vehicle or Public Transport Advertising, Lamp Posts, etc.
While launching a project, which locations should we invest in first?
While launching a project, you should first try to capture entry and exit points of cities, common public areas and few sites near locality will help you to create an awareness about your project during launch.