OOH Media & Digital Signage Navigate the Crisis
Today, ad networks and digital signage screens are located everywhere in the brick and mortar world. I call it the “third screen revolution,” where digital signage is the last screen to be monetized (PCs and smartphones are the precursors).
There were two key missing pieces for digital signage (in OOH, communications, retail) to exponentially grow; programmatic and real-time analytics. It’s the natural evolution of how media and content is traded on screens, and how it successfully catapulted e-commerce and mobile. Significant investment and development has been dedicated into building these platforms for digital signage and the value proposition is exponential and defensible.
This Crisis Has Truly Exposed Measurement Inefficiencies
At AdMobilize, we have been taken back by the amount of new relationships we have built during the past 2 months with leaders eager to understand the ROI value of AI-based measurement technology. (For reference, today we serve 160 clients in 80+ countries). These engagements reaffirm that when operators, retailers, brands, and agencies only utilize traditional measurement standards, (sans real-time proof-of-performance data), they are leaving significant value variables out of the equation.
We begin by showing them this “Truth Metrics” guide:
While there is value in traditional ways of measurement, those metrics alone are insufficient. In today’s new world, data needs to be real-time to add true business intelligence and to extract the greatest value from ad campaigns and content distribution; in directly optimizing results.
Our customers reaffirm this for us. We have OOH media clients that combine traditional formula-based methodologies with anonymous computer vision data to enhance findings with new timely actionable data. We have Fortune 100 retail clients that utilize the data for “content intelligence,” and thus increasing basket size and sales lift. We have clients in countries without any measurement body but who utilize AdMobilize’s data as their official measurement standard and trading currency.
At the end of the day it goes back to basics: what was the actual audience engagement with the screen? Who looked at that 8 second ad rotation? It’s about providing the equivalent of the “click-through” rate for brick and mortar. We call it the “gaze-through” rate, or actual views versus impressions.
During this crisis, existing clients and new prospects are asking for additional data intelligence. During these times of social distancing, clients want to have real-time metrics of people, vehicles, and crowds. They want to know what percentage of pedestrians are wearing masks (a new KPI coming to AdMobilize clients). They want people counting analytics for large spaces, direction of flow, vehicle types, audience proof-of-engagement and more. They don’t want assumptions based on historical data. They want high-accuracy tangible data. Clients tell us that they have urgency and need fluidity. Now more than ever, data can serve as an important tool in unlocking the digitization of brick and mortar.
We see the physical world as a giant webpage. Our technology enables clients to make sense of this space. The compelling difference contrasted to online, is that our science is completely anonymous by edge-design. There are no cookies, no recognition, no images saved, no tracking of phones. It is all based on aggregated data that is processed into binary numbers at the edge, while intuitive data dashboards are cloud based.
What Are The Key Metrics and ROI Benefits
Agencies, brands, programmatic engines, operators, and retailers are extracting ROI from utilizing this type of intelligence in many different ways. Here is a further breakdown to substantiate the value proposition:
I realize there is a lot of content on these slides but ideally they add value to your knowledge base and roadmap execution.
We continue to be bullish on brick and mortar intelligence at scale, although the future will be different. Therefore, it is fundamentally important to expand our thinking and creativity in finding new ways to navigate this phase of engagement in the physical world.
The last time I wrote a Medium post, we lived in a different reality than today. These are such difficult times for humanity. So many lives and businesses have been severely impacted. Nevertheless, I am an optimist-realist and a student of “singularity” principles; our science, collaboration tools, and innovation are more advanced than ever in tackling such a crisis. Despite overwhelming global suffering, each one of us has an important role to play in finding strength, perseverance, and compassion in helping and positively guiding others towards a different but still very promising future.
In terms of business, difficult decisions are being made daily by the large publicly traded companies and the mid to small niche players. I have incredible respect for everyone in our industry and seeing how leaders, team members, associations, and reporters are managing this unprecedented situation.
I wish the best for all. So, keep believing, keep creating, keep growing your businesses, keep innovating, keep loving, keep pivoting, keep disrupting, just keep at it until the storm passes.