‘Confidence and clarity’: What oOh!media’s 2024 plans mean for the industry
This is part of Mumbrella’s coverage of the 2024 upfront season. Click here to see other articles in the series.
Yesterday, outdoor giant oOh!media announced a number of new offerings and business plans for 2024 at its Outfront, including its first Australian retail media partner, a huge push for sustainability and stronger campaign measurements, as well as a ‘premium’ network across Sydney.
Media buyers from Kaimera, iProspect and Avenue C shared their thoughts on the announcements with Mumbrella.
Marianne Lane, head of investment at Kaimera, said oOh!media has “always had a great offering”, and the addition to Sydney Metro locations and the new premium Sydney network will only enhance this.
Lane
“Highlighting a gap in premium outdoor advertising options in the Sydney CBD and Eastern Suburbs emphasises the demand for reaching premium audiences on premium assets in premium locations,” she said.
“The data play is always of interest and we definitely want to delve deeper into those 800 buyergraphics. If advertisers can double ROI by using buyergraphics rather than demographics, it makes for more targeted and effective campaigns.”
She said it is a smart, strategic approach from the company, and “demonstrates a commitment to providing advertisers with a premium platform to connect with their audiences in meaningful ways”.
iProspect’s group investment director, Vera Manalac, agreed and said what caught her attention was the company’s focus on a “clear growth strategy” for 2024.
“They provided confidence and clarity on their plans for expansion in 2024 with their premium Sydney offering,” she said. “Premium Sydney will provide advertisers access to a previously untapped market, Woollahra Council. Due to their affluence, the Eastern suburbs has always been a highly sought after audience but has been hard to access through advertising.
“In addition to that, when it comes to premium small format that can be bought as a concentrated pack in Sydney, City of Sydney has had a monopoly on luxury advertising spend. Given both these factors, this announcement will be a welcome addition to the landscape as it will provide some healthy competition.”
oOh!media’s new campaign performance measurement suite, oOh! outcomes, is an interesting new offering, according to Manalac.
Manalac
“It’s becoming increasingly important for any channel to prove their ROI and oOh! have big plans to address this through oOh! outcomes. oOh! outcomes encourages advertisers to shift away from demographics and towards buyergraphics. Through their data partnership with Unpacked (Flybuys) advertisers will now be able to measure and attribute the ROI of their outdoor activity, not just across oOh’s network but the entire sector,” she said.
“oOh! have committed to providing access to deeper insights and attribution that will increase the total share of wallet of the entire outdoor category. Any outdoor trader in market knows that in the past oOh! have required 80%+ minimum share requirements to access their data, but they also announced that they would be lowering this to 50%. This should remove barriers for a lot of clients (usually with smaller outdoor budgets) who couldn’t afford to give oOh! the former share requirement.”
As for retail media, Manalac said oOh!’s first partner in Australia, Drake’s Supermarkets, is a “step in the right direction” for the company, as “it demonstrates how they can access consumers throughout the entire consumer journey and for some categories, their panels could be the very last touch point”.
Daniel Cutrone, managing partner at Avenue C, argued the new premium Sydney network is an impressive new opportunity for brands and advertisers.
Cutrone
“This is an exciting opportunity for advertisers wanting to reach affluent audiences of Sydney’s Eastern suburbs, with twice the weekly family income of the national average!” he said. “With 80 digital panels rolling out in early 2024 – this also presents an exclusive opportunity for aspiring advertisers.
“With a growing competitive set within the retail media space, oOh!media demonstrated both an agnostic and leadership position with reooh. reooh allows retail brands to adopt the digital screen footprint within their physical stores, and with 90% of transactions still occurring instore, it allows retailers an opportunity build out an instore infrastructure.
He continued: “oOh! have successfully partnered with NZ and AU retailers to rollout this product, and remain competitive in the path-to-purchase – reinforcing the importance and communication to customers outside and inside of store.”
Cutrone said with the exclusive offerings to advertisers that can drive real business outcomes, the Outfront was an “impressive update to market”.
Got a tip?
Lauren McNamara is a journalist at Mumbrella, covering the creative and PR beat. She joined in November 2022 as editorial assistant, after completing a Bachelor of Communications (Journalism) at UTS.
Linkedin
topics
2024 upfront
Avenue C
Daniel Cutrone
iProspect
Kaimera
Marianne Lane
media buyers
oOh
oOh!MEdia
Vera Manalac
Have your say