CORRECTING and REPLACING High Impact Digital Innovations and Geographic Effectiveness of Out-of-Home Advertising to Boost Retail Industry, According to New Report
MarketShare Links OOH Marketing Efforts to Positive Retail Business Results and Illustrates Why the Medium Is an Integral Component of Healthy Marketing Mix
Recommended Five-Fold OOH Ad Spend Increase
PHOENIX--(BUSINESS WIRE)-- In release dated January 20, 2011, all references to MarketShare Partners should read MarketShare.
The corrected release reads:
HIGH IMPACT DIGITAL INNOVATIONS AND GEOGRAPHIC EFFECTIVENESS OF OUT-OF-HOME ADVERTISING TO BOOST RETAIL INDUSTRY, ACCORDING TO NEW REPORT
MarketShare Links OOH Marketing Efforts to Positive Retail Business Results and Illustrates Why the Medium Is an Integral Component of Healthy Marketing Mix
Recommended Five-Fold OOH Ad Spend Increase
As the 2010 holiday season comes to a close and retailers look for new ways to revitalize 2011 sales, Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) today released a new report entitled "Out-of-Home Advertising and the Retail Industry" in conjunction with MarketShare, the leading cross-marketing optimization company. The study provides a comprehensive analysis into Out-of-Home's (OOH) marketing benefits for the retail sector, which includes a broad, yet targeted reach to consumers on the go, tailored brand messages for precise geographic locations and an opportunity to strengthen brand image. It also evaluates an ideal media mix, showcasing how OOH works synergistically with TV, radio, print, and online to increase sales, profit and return on investment (ROI), with decreasing total spend.
"OOH offers a creative, interactive means to engage with consumers at a high impression frequency in desired targeted locations. The latest report from independent research firm MarketShare is further evidence of the immense value of OOH advertising, particularly as it relates to the retail sector," said Debbie Reichig, Senior Vice President of Business Development and Marketing at Clear Channel Outdoor. "Retail is experiencing a crucial return to health, consumer confidence is showing signs of improvement and forward-thinking retailers are increasingly embracing the Outdoor medium as a means to revitalize sales even further."
Amongst the other key findings:
-- OOH allows retail marketers to connect with consumers while they are on
the go by capturing their attention outdoors, close to retail locations;
-- Marketers are also able to tailor their messages for specific geographic
locations by varying their OOH advertisement for each local market;
-- OOH allows retailers to strengthen their brand awareness by advertising
their logo or striking images that evoke the brand;
-- The most effective approach to utilizing OOH is through a coordinated,
multiplatform media campaign, especially capitalizing on the interaction
between TV and radio and OOH;
-- New digital outdoor advertising allows retailers the ability to change
their creative more frequently for campaigns, events, etc., in addition
to being able to react to market activities in a timely manner.
MarketShare previously released an in-depth analysis of the value of OOH advertising when used in combination with other media in the "How Out-of-Home Advertising Works" report, released in October 2010.
For this report, MarketShare developed a typical case scenario for a mature Big Box retailer based on actual data and learnings from MarketShare Planner. MarketShare Planner is a web-based expert system that furnishes marketing effectiveness analytics, which provides insight into OOH as an effective vehicle for marketers in the retail industry. The case example shows how OOH is underspent relative to its influence and the incremental sales resulting from an increase in OOH spend is greater than what would be experienced with other marketing media. OOH advertisement is known to reinforce brand messaging that a consumer has seen or will see in other media. In fact, overlaying a schedule of branded OOH ads can work in conjunction with the other media to make all the media more effective in reaching the consumer and driving sales. Moreover, in this case, the recommended OOH allocation is a five-fold increase going from $4 million to $20 million.
"Whether it's used on its own or combined with other media to extend a brand's reach, OOH is a prominent media player in the retail marketing mix - one that should be heavily considered when developing marketing programs, according to this new MarketShare report," said Rocky Sisson, Executive Vice President of Sales and Marketing at Clear Channel Outdoor. "The advent of new digital technologies has also impacted the OOH advertising industry in a positive way, allowing for truly immersive technology that compels consumers to engage with brands."
For more information and to receive the complete "Out-Of-Home Advertising and the Retail Industry" report, please contact Debbie Reichig at debbiereichig@clearchannel.com.
About Clear Channel Outdoor
Clear Channel Outdoor (NYSE:CCO) is the world's largest outdoor advertising company with close to one million displays in 45 countries across 5 continents. In the United States, the company operates over 200,000 advertising displays and has a presence in 48 of the top 50 Designated Market Areas. It also operates airport, rail, and mall advertising businesses worldwide. Its Spectacolor (U.S.) and DEFI (international) divisions are the global market leaders in spectacular sign displays, including in New York's Times Square. Clear Channel Adshel is the company's international street furniture division, which operates over 3,500 municipal advertising contracts worldwide. Clear Channel Outdoor also operates digital displays and networks in most of its divisions. More information may be found by visiting www.clearchanneloutdoor.com.
Certain statements in this release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
Source: Clear Channel Outdoor Holdings
Released January 20, 2011
