The Out of Home Advertising Association of America (OAAA) recently published its 2023 Annual Report, shedding light on the strategic progress and impactful research within the out-of-home (OOH) advertising sector. The report, a comprehensive document detailing the association’s yearly achievements, focuses on structural optimization, leadership enhancements, and the significant findings of the Benchmarketing OOH Media Effectiveness ROI Analysis.
With the appointment of Julie Thompson as EVP and CMO, the OAAA has intensified its efforts to enhance the visibility and influence of OOH advertising. Thompson’s extensive background is anticipated to drive innovation and growth in the industry.
Central Findings from the OAAA’s Benchmarketing Study:
- Revenue Return on Ad Sales (RROAS): The study highlights that OOH advertising can substantially increase RROAS, suggesting a reevaluation of budget allocations could benefit advertisers by integrating more OOH into their advertising strategies.
- Brand Perception Enhancement: According to the research, OOH advertising plays a critical role in improving brand perception throughout the consumer decision-making funnel.
- Media Mix Optimization: The findings indicate that many advertising strategies underutilize OOH. Adjusting the media mix to include more OOH can lead to more efficient overall campaign performance.
- Challenges with Underfunding: The research identifies that the insufficient funding of OOH in media plans often hinders the optimization of advertising campaigns, with other media forms like TV and digital frequently receiving funds beyond their effective thresholds.
These insights have underscored the potential of OOH advertising to deliver significant value in a comprehensive advertising strategy, particularly in enhancing brand visibility and improving campaign ROI.
Anna Bager, President & CEO of OAAA, emphasized the proactive strides taken by the organization: “This past year has been one of strategic realignment and reinforced operational foundations, setting a robust path forward for the integration of OOH advertising into broader media conversations.”
The OAAA continues to expand its engagement with industry stakeholders, significantly growing its Brand Council and enhancing interactions at key industry events to better understand and meet the evolving needs of brands and media buyers.
Download the full report from OAAA.org https://oaaa.org/wp-content/uploads/2024/01/OAAA-2023-Annual-Report.pdf
