Photo credit: Ocean Outdoor Sweden
As the economic headwinds and inflation point towards a global recession, belt tightening across the board is bound to affect media budgets and advertising revenues.
2023 is going to be tough. Which means OOH media owners and operators need to have a laser sharp understanding of how their assets are performing to ring fence revenue in a challenging market.
Now’s the time to take stock. And those businesses that prioritize strategies to maximize growth, profitability and resilience will be best placed to weather a downturn.
Auditing your operational processes will pinpoint what changes to legacy systems and outmoded functions are required to trim waste and where technology can not only automate tasks but drive performance into 2023.
Prioritize AdTech to boost customer value
According to the Forrester Group 2023 Report, Planning Isn’t Business as Usual, innovation in tech will be key in navigating volatility.
We know that old habits die hard, but OOH operators with multiple classic and digital assets should be swapping legacy systems – which are time consuming, siloed and costly – for technology which provides end to end planning, delivery, scheduling, landlord and revenue reporting. A platform which benefits every job function right across the business.
And for those newcomers with 5, 15 or 50 classic billboards, digital screens or a mix of both, the opportunity to enter a difficult market without the hindrance of clunky processes will be first in line once the markets revive and advertising spend recovers.
A safe investment
Forrester Group says that making the right investment choices involves “bold investment bets”.
Experimentation might be the last thing on your mind but changing how you work doesn’t have to be a risk. DoohClick was born out of a similar market need to compete and excel in a fragmented, challenging market.
What our ad management platform offers is particularly beneficial to mid-size and smaller OOH and DOOH media operators because they can work together within the platform itself to secure a bigger share of OOH ad spend. And the network these operators provide benefits advertisers both large and small. In this respect, DoohClick’s tried and tested model is unique.
To get ahead of the game in 2023, now is the time to prioritize tech to maximize revenue growth.
To find out more, contact Lawrence Hyde, email Lawrence.h@doohclick.com