NEONS Awards & Conference: Measurement is possible in the digital era: Rachna Lokhande
We take a look into the insightful sessions that took place in the 9th edition of NEONS OOH Conference as we gear up for this year’s conference
The NEONS OOH Awards, an annual e4m function to reward excellence in outdoor media, will be held on March 12th & 13th at Taj Santacruz, Mumbai this year. The OOH conference aims to seek solutions to overcome the challenges when it comes to OOH advertising and the various emerging trends to stay ahead of the game. As the date for the 10th edition of the e4m NEONS OOH Conference & Awards nears, we take a look at some of the insightful talks that took place last year. One such speaker session was that off Rachna Lokhande the Co-CEO of Kinetic India whose session was on 'Measuring Impact in OOH Advertising: Practical or Impossible?'
Lokhande has over 16 years of experience in end-to-end business operations and retention, driving large scale revenue and profit gains, and improving organizational performances through investments and account management. She is the first woman CEO in the OOH industry in South and South East Asia under 40. Under her leadership, Kinetic India’s overall business grew by 19 per cent.
Over the past few years, OOH has gone through major shifts. The integration of digital is adding more value for marketers who have often raised concerns about the lack of measurement in the OOH domain. Last year on the ninth edition of the NEONS Awards & OOH Conference 2019, Rachana Lokhande, CO-CEO, Kinetic India had addressed the audience with an intriguing session on 'Measuring Impact in OOH Advertising: Practical or Impossible?'
Lokhande sharing her views on the topic had said, “Measurement is possible in this era where digital is growing. A consumer looks at his mobile every 2.5 minutes, so an average of 80 times a day, consuming 3-3.5 hours every day and the consumer is 60-70 per cent out-of-home. OOH has the progress of contextually connecting these audiences who are continuously on the move.”
She further went on to talk about Paring digital media and OOH investment that will improve performance. “While we do a lot of measurements now, when I was given the topic measurement, we do not have any other methods, so we use mobile to find out. In the past, platforms realized that they needed measurement but they did not jump on to it. In 1994, TV realized they needed measurement because the satellite channels are not able to measure where are the consumers are going. They first came on ADEX- measuring the size of the industry. They got to know what their competition is doing, who is giving ads to which channel etc,” said Lokhande.
Talking about the industry size and if the OOH industry is really growing she had shared, “While we were 6 per cent three years ago, we were 7.9 per cent a decade ago. We are declining. We are not growing to an extent to make a dent in the pie. OOH lacks credibility as we do not have any numbers to share.” So what’s the solution? According to Lokhande, “ADEX is the first step that will bring transparency, rate card to the industry; will give the monetization mechanism because brands, advertisers will also start subscribing to ADEX. And with this, one can also go ahead and conduct research on the industry's behalf. Let’s change the practices which make measurement impossible.”
This year too we have insightful sessions planned by eminent speakers in the OOH Industry. Watch out this space to get more updates on NEONS OOH Awards 2020.
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