5 Takeaways from DPAA's Video Everywhere Summit
Published: October 18, 2021
Last week, DPAA held the Video Everywhere Summit in New York City - the largest one-day event centered around the digitization of out-of-home advertising. This was the first in-person event since 2019 focused on resilience, reinvention, and revitalization, and it did not disappoint. The event drew in 600+ vaccinated attendees from all over the world and nearly 1000 attendees tuning into the virtual broadcast.
Advertising and media leaders from organizations such as L’Oreal, Yahoo!, Clorox, BMW, and more shared insights into the future of programmatic and the importance of out-of-home advertising.
Here are five key takeaways:
Mass Personalization Drives Growth
“First-party data is critical in a cookieless world.” - Jackson Jeyjanaygam, GM at Clorox Company
We have entered the age of personalization, as the 'cookie crumbles,' and first-party data becomes the way of the future. With hoards of ads online and offline, advertisers and brands need to stand out with contextually relevant ads. JCDecaux released a study called "The Moments of Truth" and found that OOH contextual ads are 17% more effective at driving sales; however, they are only represented in about 8% of DOOH campaigns. This study proves that if companies incorporate contextual messaging into their ads, their campaigns will drastically improve engagement and effectiveness.
Furthermore, Walgreens released a study finding that 41% of consumers enjoy contextually relevant ads which is why they are putting their customer's priorities first. Their strategy is to shed the rewards program and bet on mass personalization with their new MyWalgreens app, providing their consumers with timely, personalized messages as soon as they leave their homes.
However, this should also become the norm for B2B companies. With mass personalization, organizations can build better relationships with their clients and improve their overall experience. As marketers, we need to tailor our messaging and content to our specific clients. With a data-driven foundation, mass personalization will amplify.
Advertising is a Service to the Customer
"Continuing an engagement level with each group, not just using it for personal gain is essential when creating a high-value audience." - Janneidy Velazquez, Sr. Diversity and Campaign Specialist at BMW
L'Oreal SVP of Media, Shenan Reed, discussed the importance of “escorting consumers through the marketing experience, giving them an opportunity to discover.” Essentially, treating people as humans in marketing - not just data - will elevate the consumer experience and generate positive brand awareness.
Brands’ main priority is providing information to their consumer with a data-centric approach - when they are ready. Reed continued, “The surge of screen fatigue has created a tremendous opportunity to use data to create smart, consumer-centric experiences in the out-of-home world as people get tired of staring down and start looking up.” Business relationships are the key part of a successful company, requiring a process that reaches every touchpoint within the consumer and client's journey, giving people the ability to play an active role as an advocate.
Consumer values have changed
The pandemic has forced a re-think in consumer behavior, causing brands to shift their marketing approach. Today, consumers are moved by brands rooted in authenticity, which goes beyond their product or service. They want to be seen and heard. Bess Spaeth, SVP Global brand media and experiences for American Express, discussed how they listened to their customers' needs and worries in a fireside chat. Spaeth explained how the multinational financial services corporation switched to touchless as consumers urged for more contactless transactions as COVID impacted their lives.
And brands are realizing the potential to show their ‘true colors’ to audiences around the world. Nike launched an OOH campaign called ‘Dream Crazy,’ featuring a larger-than-life black-and-white portrait of Colin Kaepernick, an American football player who took a knee during the American national anthem, with the copy, “Believe in something, even if it means sacrificing everything.” This campaign ended up becoming national news, making Nike $6 billion in brand value, $163 Million in media earned, and a 31% increase in sales, and at the Cannes Lions International Festival of Creativity in 2019, won the top award for Out of Home.
OOH has never been more visible
“OOH is touching, makes you think, and affects your heart.” - Spencer Baim, Chief Brand Officer at Vice Media
“Consumers are at their social peak” - Mike Cooper, Global President & CRO at Adomni.
From everywhere to hyperlocal areas, the OOH industry is camouflaging streets and buildings. And given the rise of programmatic, campaigns are becoming more effective at measuring and targeting. The sector is seeing several new brands extending their messaging and increasing awareness for their services and products with OOH and realizing the value of programmatic DOOH.
Although consumers are still worried about COVID, they are eager to get back outside and away from their screens. According to OAAA and Harris Poll, nearly half of Americans notice an OOH ad that only increases with Gen Z and Millenials more than pre-pandemic. The pandemic has created a heightened sense of awareness, where people are lifting their heads and tuning into the world around them. It has never been a more significant time to invest in DOOH ads.
Future of Programmatic is Bright
“Posed to go nowhere but up” - JoAnna Foyle, SVP of Inventory Partnership at TradeDesk
The pandemic has become a catalyst for digital growth in the DOOH sector. Programmatic has grown tremendously and become increasingly prolific with the ability to show the right ad to the right customer in real-time. And spoiler alert, DOOH is just going to get better. Industry leaders expect significant improvements from enhancements in AI to the increase in touchless transactions. Mark Penn, Chairman and CEO of Stagwell, presumes DOOH will bring “experiences on top of experiences, ads on top of ads.”
DOOH’s rapid trajectory is cueing media owners to add more screens to grocery stores, city streets, gyms - just about anywhere the consumer will see it. And, according to a New Study from DPAA, 81% of advertisers will recommend DOOH in their media plans in the next 12 months -- becoming a staple ingredient in today’s marketers' playbook.