In the past, we’ve spoken about the benefits of diversifying your advertising campaigns & using multiple channels to reach your target audiences.
But how exactly can brands hope to achieve this?
Budgeting for campaigns that run across various channels doesn’t have to be difficult.
Here’s how you can plan to reap the benefits of both digital and OOH advertising strategies for your brand.
Let’s get started!
Where do customers shop?
Did you know that the majority of people still prefer to shop in person?
E-commerce may be growing at rapid rates (representing over 40% of all retail growth in Western Europe) but 4 in 5 purchases are still done in-store. These figures are very promising, especially in light of how our shopping habits have changed in the last few years. Even as e-commerce grows, in-store purchases remain high.
With that being said, digital and OOH ads can be used to increase sales in both areas.
Pro tip: consider brand awareness
Brands who have an established online and in-person customer base, or brands that are looking to boost one or both of these, should bear in mind that OOH and digital advertising strategies don’t always translate directly into more sales. Let us explain…
One of the primary goals (and potential benefits) of advertising campaigns, is brand awareness. While some campaigns are for a specific
In fact, even campaigns that aren’t created with the intention of increasing brand awareness may still result in more audiences recognising your brand in the future.
When you increase your brand awareness, you can reap results in unexpected ways. For example, a member of your target audience who comes across an OOH ad for your business may end up purchasing from your ecommerce store. And in some cases, the consumer may come across your ads online but choose to purchase from one of your physical stores.
So, if digital and OOH advertising & storefronts can have such a successful and symbiotic relationship, finding the ideal budgeting split between digital and OOH ads is essential for brands looking to reap the benefits that both have to offer.
What is the perfect OOH v digital advertising budget?
When it comes to advertising, there is no one-size-fits-all approach. After all, every brand is different, even those operating in the same sector or targeting similar audiences.
But according to recent studies, brands who adopt a 60-40 split between digital and traditional media advertising can see the biggest (positive) impact with their overall ad spend.
This figure, while promising, is also an average, and many brands will find their 'sweet spot' with a 70-30 or 50-50 split between the two.
Of course, the best way for brands to find their sweet spot is by trialling different budgeting splits for different campaigns. When you use the right approach to advertise your business through multiple channels, you can get the most out of your ad spend and end up increasing your customers both online and OOH.
Fortunately, that’s where we come in.
At One Day Agency, we create ads that help your brand strut its stuff, whether digitally, OOH or both.
To find out more, get in touch with one of our experts today.