In the previous article of our series our CEO, Jonathan Gudai, laid out the huge revenue potential of audience-based buying in OOH. One of the recent innovations for OOH audience insights is mobile phone location data -- where the digital world and physical world intersect. This article will unpack some of the underlying technical elements for how the mobile location data is gathered and how it will be applied for out-of-home advertising campaigns.
There is a massive groundswell that is building in the world of out-of-home (OOH) advertising. Game-changing technology is rolling out in big waves that not only stand to bring about significant new sources of revenue, but also fundamentally change the way OOH ads are bought and sold. For the first time ever, OOH will be able to compete with search, social and display advertising because of new technology that leverages mobile phone location data.
Consumers in 2019 are moving about more than ever, with estimates of over 70% of our waking hours being spent out of home. But they are staying more connected while doing so, whether travelling to work, visiting a dentist's office or watching a playoff football game in a bar with friends. Fortunately, for us as marketers, the fact that audiences aren't home doesn't mean that they can't be effectively engaged. Quite the contrary: even when out, consumers continue to interact with both their devices and the increasingly ubiquitous full-size digital displays that surround us wherever we go.