Planning your marketing strategy for the remainder of the year or for the next? Consider upgrading OOH to be a key player in your marketing mix. Before setting up your campaign, here are four questions to make most out of your OOH budget.
1. How are your target markets doing?
Before you launch an advertising campaign, you need to understand the goods and bads of your target markets. Make sure you gather market-specific insights, including cost data on the lowest and highest advertising unit prices, average CPM (cost per thousand advertising impressions), potential reach and ad unit availability.
Beyond that, it’s important to consider these questions: Are you seeking saturation or domination of a specific market? Do you want to spread your coverage across numerous regions or target fewer, more select geographic areas to extend your media budget? No matter which route you take, gather data about designated market areas in Cyprus to get a clearer picture and help you optimize your campaigns in the markets that matter most for you.
2. What could be similar markets you could advertise in?
When it comes to OOH, many marketers can’t help but zero in on top-tier markets. Besides the fact that those markets are typically expensive, exclusively focusing on places like Limassol or Nicosia. Also risk limiting brand exposure in other powerful markets, even if they have less cachet. You don’t want to make the same mistake.
Remember, consumers are everywhere, and various markets can drive similar positive results.
Say you’d like to build upon campaigns in Paphos or Larnaca, identify look-alike markets that share similar characteristics. By looking beyond top-tier markets, you may be able to save money and gain efficiency.
3. What’s your creativity level?
Creativity is limitless with OOH and that’s good for your budget. For starters, there’s an antiquated notion that outdoor advertising is limited to billboards, when in fact the medium ad formats of all shapes and sizes. From bus benches and digital kiosks and everything in between, a mix of OOH formats can enable advertisers to take their campaigns further and launch well-rounded and interesting campaigns.
One way to see what is working in the real world is to explore successful creative executions from past campaigns. And don’t neglect to consider the full range of out-of-home ad formats available, from wild postings, mass-transit wraps, bus shelters and street furniture to point-of-sale displays, kiosks and, yes, static, mobile and digital billboards from around the country. Referencing what’s been successful and finding inspiration in past creative can help your team have a better eye for what can work for your campaign today.
4. What kind of investment are you looking to make?
To nail down your specific investment level, start by identifying your goals. Are you looking to introduce your brand? Do you want to drive consumers to a physical location, make online purchases or engage on social media? Once you understand your goal and have a sense of your budget, you can take the pulse of your industry by exploring what your competitors are doing. By determining your goals, you can pinpoint just how much of an investment you should make in different areas to see results.
Your team should keep these considerations in mind as it works to shine a light on target markets and gain insights into the best regions for their needs. These steps can help you protect your OOH advertising budget in the New Year and beyond. The only thing left to do is get started.
