Jack Myers and Anna Bager Discuss Out-of-Home Growth Opportunities

Myers began his career in the 1970s by selling BusORama ads in New York City and he refers to those years as quotincredibly formativequot He was the first to ever sell a quotTotalTotalquot bus contract to Gordon39s Gin which was the industry39s name for an ad buy that included the entire interior and exterior space of the bus He was also the first to sell quotBasic Busquot the descriptor for one advertiser owning all interior bus ads with The New Yorker Yes The New Yorker and Bowery Bank being the first to optimize the value of Manhattan bus riders as valuable audiencesHe said OOH39s unique value proposition is how creativity is inseparable from the medium unlike with other media such as radio TV and digital advertisingquotI had no data nothing other than ideasquot said Myers quotThat39s where I really learned that whether I was going to sell ads to the local priest in the Bronx to promote a Feast the Chinese restaurant in Queens The New Yorker Gordon39s Gin or Bowery Bank it was always the idea that soldquotMyers backs up his faith in OOH with the latest data from his new Myers Report among Advertisers and Agency ExecutivesquotThere is absolute inconsistency among the different stakeholder groupsquot said Myers on the report39s findings quotVery few companies other than Amazon Netflix and one or two other OTT streaming TV video companies are perceived equally by advertisers and agenciesquotquotWhat we39ve lost over the last several years as we focused more on data and as we focused more on multiplatform is that we39ve lost the value of the brandquot he addedThe data is alarming in that it shows how datadriven media such as digital advertising often is not equipped to satisfy the needs of media buyers for a variety of reasons These include privacy issues fraud and waste and intermediaries taking a large share of the profitBager said quotIf you39re investing in digital especially programmatic you will have 30 to 40 waste on your dollars whereas in OOH media you know that the ad will render pretty much 999 of the time it39s there it39s physical you can39t skip it or block itquotMyers further noted intermediaries are taking as much as 50 to 60 cents out of every dollar between what the advertiser spends and what the media gets quotThat39s been a problem with digital for many many years and it doesn39t seem to be resonating as an issue as it should bequot he saidThe data also reveals trends in diversity Nearly onequarter 24 of agency buyers and planners are diverse according to the study signifying a certain amount of progress but also an area where the OOH industry can further improveThe research shows how different the backgrounds of the current decisionmakers are from just a few years ago For example twothirds of advertiser decisionmakers have no marketing experience quotProcurement people and brand managers are spending 2 of their time in mediaquot said Myers adding that the biggest issue for agencies is getting time with people who own the budgets quotTheir number one source of brand managers39 knowledge about media is LinkedIn Learning Bing and Google and they rated those 3 to 4 on a scale of 10 in terms of usefulnessquot He hopes to change the dynamics with the AIbased content recommendation engine Meetingprepcom which comes with its own 1 million OOH advertising campaignBager and Myers discussed what can be done to increase OOH39s share of the media landscape from the steady 4 Necessary steps for OOH media postpandemic includeConfronting the reality of postCOVID challenges for indoor advertising given the sensitivity around being in crowds or in enclosed spacesGetting out of the quotcompeting with yourselfquot model Myers pointed out that OOH players should focus on finding one voice as an industry quotIn the advertising industry there has been pretty much zero growth when you remove Facebook Google Amazon and a couple of others Fighting with each other for share is not the winning gamequotUnifying offline and online experiences With smart cities and 5G the shopping experience can start way before the store and OOH provides a quottruly immersive media opportunityquot said BagerTying OOH into the overall media model quotWe39re certainly taking strides as an industry to make sure that our programmatic solutions are not just for OOHquot said Bager Myers added quotIt39s important to look at each of the main holding companies to understand how they39re building out their data and then to develop data capabilities that fit into their systems Once you39re there and embedded that39s going to put you on a level playing field with all other mediaquotAccording to Myers five to ten years from now ad buying decisions will become medianeutral The strengths of OOH audience reach and creativity will determine its position in the media landscapeClick the social buttons to share this story with colleagues and friendsThe opinions expressed here are the author39s views and do not necessarily represent the views of 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Jack Myers and Anna Bager Discuss Out-of-Home Growth Opportunities

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