Examples of this type of quality data include Geopath's impression numbers and their Insights Suite for audience measurements. Companies can use first-party data that belongs to them, combined with second- and third-party data purchased from reputable suppliers. To ensure decision-making accuracy, you need to ensure you're using data that has been validated. If inaccurate or unreliable data make their way into a company's outdoor advertising analytics, the resulting poor strategy choices could be devastating for both the marketing department and the company as a whole. Bad data is a perennial problem, with Gartner estimating that poor-quality information costs organizations an average of $12.9 million annually. It's one thing to have access to a ton of data and quite another to know that it's valid and you can rely on it to improve your campaigns.
When you know in detail which consumers will be exposed to your advertising, your company is in a much better position to maximize its return on investment. Mobility analytics provide information about foot traffic, peak hours in specific locations, and the hours of highest demand. These might include audience saturation, the population's purchasing power and brand affinities, and the product categories that usually do well in each location. The intelligence delivered by data analytics allows OOH marketers to segment their audiences effectively, determine media placements and audience movement patterns, and use performance metrics to optimize their outdoor advertising campaigns.įor example, location analytics add a layer of geographical information to datasets to generate more valuable insights. The second - predictive analytics - uses statistics and modeling techniques to project future outcomes and performance. The first interprets historical data to identify trends and patterns and determine what happened in the past, spot potential problems, or uncover opportunities for improvement. The types of outdoor advertising analytics you can generate include descriptive analytics and predictive analytics. Business intelligence derived from analytics enables you to create OOH advertising strategies focused on the needs and preferences of the people passing through each touchpoint. Why Aren't You Using It? Applying data analytics in outdoor advertisingĭata analytics is the processing and examination of datasets and the drawing of conclusions about the information they contain. Related: Outdoor Advertising Is Conquering.
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