For the LOVE of OOH
By Jonathan Gudai | Adomni CEO
OK, so here’s a question you probably have never heard before. What does Valentine’s Day have to do with out-of-home advertising? When we first asked that question in early 2016, most people thought we were crazy. It was a question that flew at them from left field. People’s reactions were a combination of apathy, uncaring shrugs and uninterested responses. As you read further, you may be thinking the same thing.
we had over 640 different advertisers book ads on just three digital billboards
What if I told you that Valentine’s Day is actually a golden opportunity for the out-of-home industry? One that enables owners/operators of digital billboards to get into the $19.6BN game that up until now only included jewelers, florists, confectioners and restaurant and greeting card companies.
Three years ago, we saw a huge opportunity to:
- Create an entirely new #OOH revenue stream.
- Acquire new advertising clients.
- Generate exposure to OOH brand and assets.
The beauty of this concept is that it is proven. In that one day on Valentine’s Day 2016, when we rolled out the idea on Adomni, we had over 640 different advertisers book ads on just three digital billboards. How did we pull it off? Technology. Or, more specifically, by the automated buying and selling of unsold ad plays, executed online.
the automated buying and selling of unsold ad plays, executed online.
Here’s how it is done.
MAXIMIZE UNSOLD AD SPACE
With this program, Valentine’s Day ads are only offered up for unfilled ad space on February 14. Several industry experts have estimated that the average digital billboard has anywhere from 25 to 40 percent unsold ad space. If a digital billboard is more filled than this, and ideal flight times are not available, no problem. Advertisers can always choose a different location.
the average digital billboard has anywhere from 25 to 40 percent unsold ad space.
BEAUTIFUL ECONOMICS
The economics of the Valentine’s Day opportunity are compelling because Valentine’s Day ads are sold for 14X the typical selling price of an ad play (spot). If your average monthly selling price is $3,000 per slot on a digital billboard, that equates to approximately $0.07 per ad play. Contrast that with the $1 per ad play that Valentine’s Day advertisers are more than happy to pay to show their loved one how much they care, and it’s more than 1,400 percent more revenue.
FULLY AUTOMATED EXECUTION
The entire buying process takes five to 10 minutes. While there are many ways an OOH operator could execute this program, the way we have been doing it on Adomni is to sell batches of 10 ad plays for $10.
The advertiser follows these three steps:
- Choose the billboard location(s) and the start time of the 10-ad play flight (the campaign runs once per minute, for 10 minutes in a row).
- Choose from eight different customizable Valentine’s Day designs that you’ll add your text or photo.
- Enter your credit card details and launch the campaign.
From a web portal on Adomni, billboard operators can quickly approve or reject the text/photo added to the pre-made templates. Once approved, the ads automatically get scheduled (no manual scheduling required).
Then, starting at around midnight on Valentine’s Day, advertisers arrive at the billboard, surprise their loved one with the biggest greeting card ever, bask in the glow of being a Valentine’s Day hero.
Then, of course, take selfies to share on social media. (insert an official hashtag for consumers to use)
RESULTS FOR OOH OPERATORS
✓ Thousands of dollars of new revenue per billboard location.
✓ Hundreds of new advertiser leads, as these same advertisers might own their own business or have ties to the advertising/marketing department of their company.
✓ Your brand and billboards getting featured on social media and in the hearts and minds of potentially tens of thousands of people.
A winning proposition.
To conclude, I must admit that 99.9 percent of Adomni’s OOH transactions are not like this. We are a B2B platform, not usually serving B2C. But every so often, it’s fun and interesting to show off what’s possible with our online technology.
