OOH Synergies: The Rising Tide That Lifts the Industry

The recent articleamp160Is the OOH Sky Falling reminded me of a pieceamp160I recently encountered on organizational change The article talks about the four psychological stages people and organizations go through when confronted with significant changeStage 1amp160DenialquotDue to the fear of losing belongings or safety and psychological needs you usually feel bad and deny the importance of changequotStage 2amp160ResistanceYou have quotaccepted the change but are now rejecting itquotStage 3amp160ExplorationquotAfter the unsuccessful resistance of change most start exploring it after realizing they cannot stop the changequotStage 4amp160CommitmentquotCommitment is brought about by accepting the change rather than fighting and ignoring it After the acceptance the change is integrated into the processes thinking and valuesquotIt seems to me that the anonymous author ofamp160Is the OOH Sky Fallingamp160is somewhere in stage 2 approaching 3Like it or not OOH is evolving not because OOH media owners and agencies want to but because theyamp160need toWhen US advertisers choose to spendamp16056 billion per year on online display adsversus just overamp1604 billion on digital outofhome ads they39re sending a message They need moreFollow the money and it39ll lead you to software platforms where the things that matter most to advertisers are the baseline norm amp8211 an ability to quickly launch targeted campaigns the ease and flexibility to revise campaigns and an ability to measure resultsThe world of digital advertising where more than 100 billion per year is being spent in the US has historically been segregated from the 8 billion world of OOH Chalked up as part of the quottraditional mediaquot budgets OOH doesn39t get the respect or the share of ad budget that it deserves The undervaluation of OOH is a problem A BIG problem One that three and a half years ago drew our attention Why Because we believe that it is solvableTo borrow a quote from fellow Las Vegas businessman and founder of Zapposcom amp8211 Tony HsiehMost innovation comes from outside your industry applied to your own We recognize that newcomer companies like ours might be met with some skepticism Not just because we are new but because of how passionate and active we are It is not lost on us that there are deep longstanding relationships that underpin much of the revenue flowing to the OOH industry We get it amp8211 today much of the OOH business does not rely on audience targeting data and campaign workflow automationWe know and respect the timehonored tradition in OOH and are proud to be part of the industry It is our belief that for OOH to grow and prosper fresh ideas new approaches and better systems should be introduced tested and perfected How else are we going to cater to the digital Millennial and GenZ media buyer who fundamentally thinks and operates differently than prior generations Our answer is to make their process to buy OOH easy and give them their desired control and measurability The prize for doing so Massive new streams of revenue flowing into OOHI say this whole heartedly amp8211 quotChicken Littlequot the rallying cry we need does not pit OOH industry vets against new OOH tech and programmatic companies To the contrary we need to unite as an industry to welcome old and new perspectives establish clear standards and find better ways of doing things By improving the perception and adoption of our ageold advertising medium we will eventually find ourselves included in the coveted Tier 1 ad budgets more oftenThere is no doubt in my mind that exponential positive growth will come when we embrace the changes that are happening in our industry and create synergistic relationships that are designed for the longterm When we do so there will be more wind inamp160everyone39samp160sailsSource eMarketerNote This commentary was originally published in OOH TodayClick the social buttons above or below to share this story with your friends and colleaguesThe opinions and points of view expressed in this content are exclusively the views of the author andor subjects and do not necessarily represent the views of MediaVillagecomMyersBizNet Inc management or associated writers

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OOH Synergies: The Rising Tide That Lifts the Industry

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Jonathan Gudai

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OOH Synergies: The Rising Tide That Lifts the Industry

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