OMA launches upgraded measurement system
The Outdoor Media Association is launching Move 1.5, which it says will introduce an accurate measurement for digital campaigns and a qualitative metric for digital signage, as it strives for market recovery.
At the same time it has also launched a new Industry Standards system, for streamlining the buying and selling of outdoor media. Digital signage now accounts for 60 per cent of outdoor media spend, with print, also known as classic, or static now on 40 per cent of the share.
Outdoor media has been smashed by Covid, losing half a billion dollars in revenue, with spend falling from $940m pre-Covid to $460m last year, although some recovery is taking place. However with Covid variants still keeping commuters away from CBDs, and keeping a lid on all transport numbers, outdoor spend remains subdued.
OMA says Move 1.5 will measure the Neuro Impact Factor, which goes beyond attention to measure the impact it has on people who see out of home (OOH) signs.
Move 1.5 will report reach and frequency for digital signs based on impressions by accounting for audience dwell, sign dwell and share of time bought. This has been built into the current Move system and is an interim step while the industry upgrades to new measurement tool Move 2.0 in two years time.
CEO of the OMA and Move, Charmaine Moldrich said, “The Media Federation of Australia’s committee, the Outdoor Futures Council, has worked closely with our members to bring these innovations to market. The partnership has helped us build these new tools to specifically meet the changing needs of planners and buyers. Their launch today marks another step toward empowering clients and agencies to make more informed campaign decisions by putting more data in the palms of their hands.”
“Move 1.5 gives buyers more accurate reach and frequency scores for their digital campaigns. The jewel in its crown is a new qualitative measure the Neuro Impact Factor which goes beyond attention to measure the impact campaigns have on audiences. These innovations give planners and buyers the ability to optimise their Out of Home spend based on the objectives of their campaign, be it awareness building or sales,” she said.
The Neuro Impact Factor (NIF) has been added to Move 1.5 using data supported by the OMA’s neuroscience study. The study measured the key moments that memory and emotion peak in the brain to evaluate the impact of OOH signs.
Both memory and emotion are key neuroscience metrics associated with mental availability which is linked to effective advertising campaigns.
Avenue C managing partner and Outdoor Futures Council (OFC) Chair, Pia Coyle said, “The methodology behind the Neuro Impact Factor study is thorough and world-class, so we’re excited to bring it into the vernacular when talking about Outdoor. We’ve always known there is more to Outdoor than what we could prove. Now we’ve got the proof for this extra dimension that goes beyond reach, frequency, site-card, or location to bring that to life — it’s pretty exciting.”
In tandem with the launch of Move 1.5 the industry has also introduced new Industry Standards. Standardisation will streamline the buying and selling of OOH advertising and will give planners and buyers greater clarity through agreed criteria for terminology, geography, screen ratios, insertion orders, and Share of Time (SOT), a new method for transacting how digital signs are bought.
SOT is the percentage of the share of display time advertisers receive out of the total display time in an agreed buying period. Included in the consideration of the percentage of SOT bought are other advertisements, programmatic content, and other content including industry promotions, commercial and editorial content.
SOT makes it easier to buy by location and by environment, in turn helping advertisers meet their desired campaign objectives.
MediaCom national head of Investment and OFC Standardisation sub-committee Co-Chair, Nick Thomas said, “Standardisation is going to save us time so we can spend less time transacting and we can spend more time on audiences, planning, more about people, not screens, and actually really bring to life some amazing campaigns.”
“What we have done goes beyond making Outdoor easier to transact and measure. We are setting ourselves up for future growth through programmatic and automation which is critical for our industry,” concluded Moldrich.