HOW TO MEASURE THE RETURN ON INVESTMENT (ROI) OF OOH MEDIA CAMPAIGNS
Measuring the ROI of Out-of-Home (OOH) media campaigns is essential to understand the impact and effectiveness of the investment. Unlike digital media, click-through rates and conversions are straightforward metrics, ROI in OOH requires a broader perspective that considers factors ranging increased visibility to sales impact.
In this guide, you’ll learn how to set goals, measure results, and analyse data to calculate the return on OOH campaigns practically and effectively.
- Define Specific Goals and KPIs
To measure ROI, start by setting clear objectives, such as increasing brand visibility, engagement, or driving traffic to physical stores or websites. Establish KPIs (key performance indicators) like visitor numbers, sales growth, or online enquiries.
Example: A goal like “increase store traffic by 20% during the campaign” allows for direct impact measurement and facilitates result analysis.
- Calculate the Total Campaign Cost
Include all expenses: space rental, design and production, installation, and any additional fees. This amount is essential for calculating ROI and assessing the financial return on the total investment.
Tip: Record fixed and variable costs separately to simplify comparisons for future campaigns.
- Use Traffic Tracking Tools
With technologies like geofencing, it’s possible to track people’s movement near the media points, allowing you to monitor how many people were impacted by the campaign and calculate CPM (cost per thousand impressions).
Tip: Work with partners who provide geolocation data to assess real-time foot traffic.
- Monitor Increased Traffic in Stores and Websites
For campaigns aimed at generating visits, compare customer footfall during the campaign with previous periods. If the campaign includes QR codes or specific links, monitor the clicks and visitor behaviour those who interacted with the OOH media.
Example: If an OOH campaign directs people to an exclusive webpage, the visits and interactions on that page reflect the direct impact of the campaign.
- Conduct Brand Awareness Surveys
Ask customers if they recall seeing the campaign. Brand awareness is a crucial metric in OOH, especially for branding-focused campaigns.
Tip: Conduct brief interviews or online surveys to understand how OOH media contributed to brand recognition and perception.
- Analyse Sales Impact
Comparing sales figures before and during the campaign can reveal the direct impact of OOH. For promotional campaigns, use exclusive coupons to track sales directly a specific campaign.
Example: A discount code displayed only in OOH ads makes it easier to measure conversions directly generated by the campaign.
Measuring OOH media ROI can be challenging, but by using tracking tools, traffic data, sales monitoring, and awareness surveys, you can gain a comprehensive view of the impact. This ensures that every dollar invested in OOH campaigns contributes to brand growth and strength.
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