NEONS OOH Conference: Measurement is possible in the digital era: Rachana Lokhande
Rachana Lokhande, CO-CEO, Kinetic India addressed a session on 'Measuring Impact in OOH Advertising: Practical or Impossible?'
Published - 09-March-2019
Out-of-Home is going through a big shift; the integration of digital is adding more value for marketers who have often raised concerns about the lack of measurement in the OOH domain. The industry has embraced innovation in all parts of the business to keep pace with where advertising and the consumer are headed. This year, at the ninth edition of the NEONS Awards & OOH Conference 2019, Rachana Lokhande, CO-CEO, Kinetic India addressed a session on 'Measuring Impact in OOH Advertising: Practical or Impossible?'
“Yes, measurement is possible in this era where digital is growing. We came across a BCG study which was released in December 2018, which speaks about the future of Indian media house. It also says that you can talk to consumers at 1 trillion touch points. 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% out-of-home. Out-of-home has the progress of contextually connecting these audiences who are continuously on the move,” said Lokhande.
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 further said, “Paring digital media and OOH investment will improve performance. As mobile is becoming a lynchpin; brands have started putting content on mobile because the audience is always connected to mobile. And what is this mobile data doing? It is actually unlocking the measurability potential against the clients’ business outcomes.”
She added, “In a lot of studies it has shown that 14 percent of online sales come from people who are commuting and it’s not just fashion or retail alone; it includes tourism, finance, insurance etc. Also, in another report, it was mentioned that 70 percent of the audience has said they have bought the item after seeing the advertisement when they were outside.”
“When I was given the topic measurement, while we do a lot of measurements and we do not have any other methods, so we use mobile to find out what is measurement. In the past, platforms realised that they needed measurement but they did not jump on to it. In 1994, TV realised 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 who is also 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%.
Talking about the industry size and if the OOH industry is really growing she said, “While we were 6% three years back, we were 7.9 % a decade back. 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 has to be ADEX, it 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.”
For more updates, subscribe to exchange4media's WhatsApp Channel- https://bit.ly/2QUdLCK