While marketers continue to agonize about their inability to translate the potential of social media to actual sales, they may be missing out on opportunities in traditional media. Out-Of-Home (OOH) is one of those media. There is no doubt that it has been gaining traction as a mass media as television audiences continue to decline and fragment. But I still wonder if it is getting the attention it deserves.
Recently
several articles have discussed the value (and cost) of advertising in New York
City’s Times Square. And indeed the
amount of traffic it attracts is powerful.
But the biggest eye opener for me was an article from the Wall Street Journal that discussed Verizon’s
Precision Market Insights. The product allows
malls, stadium and billboard owners access to data about the activities and
backgrounds of cellphone users in particular locations. (Troianovski, 2013)
Connecting
advertising exposure with action is huge.
The Phoenix Suns are apparently using the data to map where attendees
live so that they can increase advertising in areas that haven’t met
expectations. Interesting. But what really caught my eye was this – The
average increase in traffic at a fast food chain was 8.4% within 24
hours of a promotion at a game. That’s
impressive and certainly worth a closer look.
Don’t you agree?
Troianovski,
A. (2013, may 22) Phone Firms Sell data
on Customers. Wall Street Journal. p. B1