Out-of-Home Marketing Revenue Increases
There's a tried and true method of advertising making a major comeback these days, and one of your favorite skin care brands recently got "on board" with it.
Murad, the California-based company, went with a bold out-of-home advertising strategy demonstrating a resurgence of the medium. The company recently opted for its first ever Times Square billboard as well as 30 wild postings in Los Angeles.
The ads included QR codes linking to a site where customers could play a game and provide their email address to win prizes, including coupons for Murad products.
Murad might be new to Times Square, but brands with and without out-of-home marketing experience are seeing the value of the method.
During the first quarter of this year, the Out of Home Advertising Association of America reported a 1% increase in out-of-home advertising revenue compared to $1.82 billion in 2022. Notably, billboards outperformed the overall out-of-home category with 2% year-over-year growth.
That's great news amid a difficult economic time for many companies.
“Out of home advertising’s resiliency continued in the first quarter despite a challenging ad marketplace. Our medium is well-positioned to connect with consumers at the most critical moments to drive awareness and engagement, which is why OOH continues to thrive," Anna Bager, President and CEO, OAAA said in the association's release. “Our recent research work with The Harris Poll and Morning Consult showcases OOH’s resonance with retail shoppers and underpins our strength as a results-producing marketing channel.”
Murad is one of several companies, specifically within the beauty category, that are placing more of an emphasis on this impactful, mass-reaching medium. In fact, Murad's media spending for the second half of 2023 doubled compared to the previous year, aligning with Unilever's robust earnings report, which showed a 9.1% growth in the Beauty & Wellbeing category.
You don't have to be in that category to see major benefits. GreenSigns LLC has brought the power of out-of-home to Chicagoland, with its network capturing more than 6.1 million weekly impressions. Reach out to learn more about how this approach is having its comeback with major national brands.