Lok Sabha polls, TV ad cap issue to keep OOH industry buoyant in 2014
The OOH industry saw steady growth in 2013 amid economic slowdown. OOH is looking forward to the LS polls, TV ad cap & possible integration with the mobile platform to fuel growth
The OOH industry saw steady growth in 2013 amid economic slowdown and budget uncertainties, which caused brands to tighten their purse strings. Buoyed by the State Assembly elections and the ad cap issue on TV, the OOH industry ended the year on a relatively positive note. With the Lok Sabha elections slated for 2014, the OOH industry can look forward to a steady stream of business in the year ahead as well.
exchange4media lists some of the key trends observed in the OOH industry in 2013…
State elections provide a late boost
The State Assembly elections in 2013 proved how vital OOH is for political parties, and with the general elections coming up in 2014, it is easy to see why there is a sense of optimism in the air. With most cities banning posters, outdoor advertising was a clear winner as parties looked to the medium to make their presence felt. One key change was the strategic approach to outdoor advertising that was undertaken by political parties. From performance tracking of advertisements to a more targeted approach towards hoarding placements, this shift in the mindset will definitely be more noticeable in 2014 and will keep agencies on their toes.
Ad cap pushes brands to try other options
The continuing ad cap issue in TV has also caused brands to look at other mediums, and radio and OOH seem to have been the main beneficiaries of this. “2013 was a special year for the outdoor industry as it found its place in mainline promotion plans of brands, with hoardings still the most popular format,” said Sanjeev Gupta, MD, Global Advertisers. According to him, with OOH being cost-effective and providing a wide range of inventory to advertisers, it gained maximum mileage from this situation.
Advertisers change strategy
“Brands have shifted focus to 360 integration; through cross promotions, experiential and engagement activities. There is an evident trend that has emerged towards investment in media with focus on RoI, especially in smaller cities,” said Nabendu Bhattacharyya, Founder & MD, Milestone Brandcom. Sunder Hemrajani, MD, Times OOH also agrees that both clients and brands are looking for more value in their investments in terms of innovation. They don’t want to just spread awareness, but want value, and with more and more brands preferring engagement rather than just reach, digital hoardings provide a great opportunity for OOH players to come out with new, innovative campaigns. It could also pave the way for integration of the outdoor with the mobile platform. Though 2013 saw a few agencies experiment with digital hoardings, it has still to become widespread, especially since municipal corporations have restrictions on the size and placement of hoardings for reasons of traffic and safety.
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