According to a new report released by the AI firm’s SaaS advertising platform, Alfi, 74 percent of the world’s senior advertising executives are confident that the development and expansion of advertising ecosystems and networks, in line with the rise of smart cities, will provide explosive growth opportunities in the Digital Outdoor Advertising Market.
93% believe society has become more digital during the COVID-19 crisis, which will fuel the expansion of the DOOH advertising market.
“Digital technology in outdoor advertising offers advertisers and brands the advantage of reaching target audiences with relevant content and increased levels of interaction at a relatively lower cost than traditional advertising,” said Paul Pereira, CEO of Alfi.
“The growing popularity of these features and the use of smart displays that include our software are preparing brands to capitalize on the evolving advertising market. “
Additionally, six in ten (61%) senior advertising executives surveyed strongly believe that given the inherent characteristics of outdoor advertising, digital technology fits well with changes in consumers’ interactions with advertisers.
Outdoor advertising is traditional outdoor advertising, targeting consumers when they are in public places, commuting to work or specific shopping locations. DOOH advertising is powered by OOH technology that provides features like tracking, retargeting, ad personalization, and better attribution and measurement of campaigns.
“As consumer preferences and lifestyles continue to change, brands and advertisers must remain focused on meeting people’s unique needs,” added Pereira.
“Alfi is already seeing an increase in consumers’ interest and willingness to interact with digital advertising outside of their homes when the content is interesting and well-targeted. “
Advertisers increasingly demand improved performance and capabilities from the advertising technology they use.