Transparency and automation will grow media spend and attract digital media buyers to outdoor advertising. That was the key takeaway as 59 leading billboard owners attended an outdoor advertising forum at the The Royal Selangor Club, Bukit Kiara.
The discourse was organised by Moving Walls, a media technology company that is working with multiple stakeholders to bring data standards and efficient buying platforms to the industry.
The highlight of the event was a panel discussion that brought together industry leaders from the brand, media agency, and media owner sides. The panel speakers included Henry Low (President, Outdoor Advertising Association Malaysia), Hasnain Babrawala (Managing Director, Amplifi, Dentsu Aegis Network), Shamin Loganathan (Head of Brand Marketing, Yoodo), and Ron Graham (OOH Media Consultant and Strategy Advisor).
Quantify Value Delivery to Attract Greater Spends
Among the issues discussed during the panel session was the need for data standards. Even as the medium being driven by digital transformation, it still lacks measurement to help marketers evaluate and improve their campaigns and media spends.
According to one panellist, “Outdoor advertising doesn’t have to be apologetic and relegated to a backdrop medium. Once media owners can link campaigns to metrics and business results, advertisers will be able to consider it alongside other media channels.”
The good news for billboard owners is that the panel was in agreement that the channel has worked for them. However, they also identified the need to streamline the buying process: “There are over 300 billboard owners in Malaysia alone. Advertisers don’t have the time or resources to deal with so many entities to execute a campaign.”
In automating the booking process, outdoor advertising can learn from its online counterpart, where advertising inventory is aggregated and accessible via exchanges. Outdoor advertising in Malaysia grew 8% in 2017 based on analysis by Posterscope, the
Out-of-Home media specialist. However, the medium still accounts for less than 10 percent of total ad spend. Platforms such as these are important to identify the opportunities and work with stakeholders to grow the industry.