While TV and print budgets continue to decrease year after year, out-of-home budgets continue to grow with an estimated $29 billion for global out-of-home ad revenue in 2017. It’s projected to reach $33 billion by 2021, reported by the Outdoor Advertising Association of America and MAGNA Intelligence Study. So how is it that the oldest form of advertising is still growing year after year? The answer is technology and data.
Every market condition provides opportunity. We’ve discussed, many times already, the obvious opportunity to increase your market share while your less informed competitor pulls way back on their marketing. But, some opportunities provide for increased revenue immediately.
You may recall from our November ’07 issue of Good Vibrations that we suggested that Braum’s could drastically improve their sales by merely providing better customer service. Here’s validation to that sentiment: