What are currently the most lucrative ways to monetize a digital signage or DOOH network?”
At Lamar Advertising, our inventory is different from the place-based digital signage because our inventory targets “everyone.” Our digital billboards are able to target a massive portion of any given market population as well as be very targeted with specific demographics. If we are focusing specifically on non-general market campaigns, we find building event and demographic-specific digital networks. The first thing we do is use our data partners to best identify where these consumers typically go on their daily journey. We then highlight the out-of-home (OOH) locations that a festival/event goer might have been exposed to. Utilizing this data includes layering in the venue or stadium with out-of-home that is within proximity to the location as well as surrounding airports, hotels and restaurants. We then identify the sponsors of the festival or sporting event as well as do research on consumers who go to those types of festivals and events. This is the important part when you’re deciding “whom” to pitch your digital network you’ve created to and “why” they should purchase it. We then use data partners like Nielsen to identify who these people are and what brands they are engaged with compared to non-festival goers. For example, concert goers are more likely than the average American to shop at grocery stores such as The Fresh Market, Trader Joe’s, Target/Super Target and Whole Foods(Nielsen 2016). We will then target those brands and advertising agencies that represent those brands with a digital network and include mobile geo fencing as well. (See attached network screenshot for “Lollapalooza Event.”)
This is one of the many ways we are successfully selling our DOOH networks. It’s just as important to have relevant content on digital screens as it is to pitch relevant campaigns to brands and agencies. I’d challenge all members on both the agency and the vendor side to be smart about selling and buying digital networks. In 2015, Oreo in the U.K. utilized DOOH to mimic the eclipse in real time. https://www.adweek.com/digital/oreo-times-stunt-to-coincide-with-solar-eclipse/ On August 21, 2017, we had another eclipse. How many of you out there made use of that amazing day?