OOH 2021: BFSI and Real Estate sectors make bold revival on billboards

Experts say that the two categories contribute around 30% of the media spends on OOH and this is expected to increase significantly

e4m by Noel Dsouza
Published: Jan 29, 2021 8:19 AM  | 5 min read
BFSI and Real Estate on OOH

The OOH sector was hanging on a very thin thread through most of 2020. However, once the bounce-back began, it took off rapidly as soon as the traffic mobility increased. The recovery has seen a progressive change especially due to segments like Real Estate that is always known to boost the sector and the BFSI category.

Over the last few months, billboards have been covered with advertisements from two prominent sectors: Real Estate and BFSI (The Personal Loan category to be specific). As for Real Estate, the affinity for OOH in the current environment comes from people migrating towards the outskirts of the city as they aren’t hotspots for COVID. Godrej Properties has recently come out with an innovative ROB innovation in Bandra. Adding to the list, Times OOH says that Kajara Infrastructure and Hiranandani have been advertising on OOH as well. As for the BFSI sector, Times OOH says brands advertising with them are IndusInd Bank, Bank of Baroda, SBI, Saraswat Bank, IDBI Bank, and AMEX.

According to Jayesh Yagnik, CEO, MOMS Outdoor Media Solutions says, “These two categories consider OOH as the impact and reminder media as they are high involvement categories. For real estate, the project catchment area campaigns are crucial, which are in line with today's trend and localized OOH movement of consumers. For BFSI, JFM has always been a vital time with a lot of people investing at the last minute for tax saving and financial planning purposes. There is a huge surge in the % share of this category in Q4.”

Aman Nanda, Chief Strategy Officer, Times OOH remarked, “There has been a seasonality for these categories as far as spends are concerned, we have seen a 30-40% jump in advertising from H1 over H2 in the past years too.”

Amarjeet Hudda, COO, Laqshya Solutions sharing his perspective says, “With people slowly resuming travel and more advertisers are coming back too. It is also expected that 2021 could see a boost in OOH spends for the BFSI category. As per the recent WARC Report, OOH is globally forecast to be the second-fastest growing medium in 2021, with ad spend rising by a fifth (20.2%). We expect this rally to happen in India as well.”

Hudda further explained, “Every client requires big impact and frequency to stay on top-of-mind for their customers. For this purpose, OOH is the best medium to reach their TG at the lowest CPT. Greater results at lesser costs. BFSI and Real Estate category contributes around 30% of the media spends on OOH and we expect this to increase significantly, especially with the advent of more and more OOH opportunities at the hyper-local level with a scope of great innovations and ROI in place.”

Real estate’s charm for OOH
Fabian Trevor Cowan, Country Head, Posterscope India stated, “The Real Estate category has always patronized the OOH medium aggressively. Now that normalcy returns it was only obvious that the category got activated again, and with new more lucrative terms for buyers being introduced, the usage of OOH will only increase in the coming months.”

Times OOH's Nanda shared, “The persistent impact of the COVID-19 pandemic was evident on real estate through stalled deals, halt in sales, and delay in launches, home buyers were more conscious to invest. As India came out of lockdown, the restarting of economic activity and push by the government through various initiatives has set the pace for boosting demand and sales in the real estate sector.”

Nanda further elaborates saying, “The real estate sector was already hit by the market slowdown. It was expected to take a longer time to return to normality, but the revision in home loan interest rates and a few conducive government policies, has led to creating attractive residential prices for home buyers leading this, the market already started reviving and the demand graph is rising upwards.”

Arijit Chakrabarti, Head of Strategy, Kinetic India sharing his perspective on the rise of Real Estate advertising says, “Lockdown and post-unlock created a unique opportunity for Real estate. Multiple new projects have been launched by various brands mostly targeting the premium segment. As many offices continue remote working many customers are looking at upgrading their living spaces. Data indicates on a month-on-month basis, a near 85% recovery in client count and 75% recovery in value terms by December.”

Upinder Singh, Project Director, Edge1 OOH Software commented, “Real estate players are advertising to keep up the momentum. At the moment, OOH advertising is about 60 percent of the normal times for these brands. Regional brands have also started advertising as Unlock has led to the opening of businesses, especially in smaller markets such as Lucknow, Calicut, Jaipur, and Indore, among others.”

BFSI’s OOH appeal
Cowan commented that it’s a twofold effect: “One being the fact that the first quarter of the year i.e, JFM has been a traditionally high decibel period for the category and hence the increased visibility, and two the fact that the markets have now opened up and out of home is seeing an increased trajectory in the last few weeks.”

Chakrabarti shares, “The category has made a strong recovery on OOH right from the unlock in June, and rightly so due to the unexpected nature of the past year. Till December 2020, we saw a growth of 85% in value terms over June 2020. Typically, January to March are key months for BFSI with most brands being active in that period. But what is precious is that as of December, nearly 80% of the clients have returned to OOH, which is a clear testament to the power of OOH. With the top 50 bands in this category being present on OOH, month on month from June till December 2020, there was no escaping the value proposition that OOH delivers. In fact, both life insurance and consumer banking have been the key driving sub-categories in BFSI.”

Here are some of Times OOH’s campaigns for both the budding sectors on their metro media sites:

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