What can AI do for the out-of-home industry, with $10 billion of annual planned media data?
Imagine: you’re sitting at your desk, or in your spare bedroom, or wherever flips your company’s switch these days. You’ve got a quick turnaround on a brief for your most demanding client, and you want to get that brief out, quick.
You log on to DOmedia and start to enter the metrics of your brief. When you put in your amazingly tight deadline, the AI within the software pipes up:
“The combination of publishers entered has an average turnaround time of [x] days. Given your timescale, you may wish to add [these] publishers, who usually respond within [y] hours. They also have greater availability in your timeframe and are offering a lower CPM.”
“Cool, thanks.”
“The time period historically sells on a very short lead-in time too, so rates tend to drop one week before in-charge; you should advise the client to hold off on booking.”
Or:
“Over the last five years, the motor industry has bought up 95% of premium inventory by the first of the month, so you should advise your client to commit before that date.”
Now, imagine you’re a publisher responding to that brief. It seems pretty clear: it’s a detailed brief with strategies, goals, and objectives laid out, next to all the other metrics you need to give an awesome response.
As you start to build your plan, the AI embedded in your software platform is thinking for you and prompts:
“The exact combination of sites you have selected has been recommended 82 times over the last 5 years and converted to a sale less than 5% of the time.”
“Whoa, really?” …
“Would you like me to recommend a more favorable plan?”
“Hell yeah.”
“The following plan offers 25% more impressions of your target audience and has converted to a sale at a rate of 55%. You may also want to recommend extending the plan for two more days, as availability is high, and you could incentivize with a 15% discount.”
So it goes, human and machine collaborating to make the best possible outcome for the industry, the agencies, the clients, and for your bottom line.
Now these are, of course, pretty flippant examples of what AI can do when fueled with over $10 billion of media planning and buying data stored within the DOmedia platform. I hope it sets your mind racing with ideas of just how far this could go and how it could benefit every area of your working life, ergo: your life!
In the near immediate future, DOmedia will add these functions to our global platform, as a personalized AI assistant for customers based on both their own data and DOmedia’s anonymized data that’s available to all users. Customers who fully utilize the platform will be able to improve their plans based on precise data from not only their clients and campaigns, but also from general market or industry trends and data.
Imagine that in the U.S.’s $8 billion OOH industry, we have $10 billion of planning data, including $2 billion a year (and climbing) of contracted media spend. That data, when aggregated and anonymized, offers the industry an incredibly powerful tool as our community tries to grow way beyond that $8 billion mark.
What is the potential use of such a volume of OOH-specific data when attached to other data sources included in our platform? We can answer heaps of questions, including:
- What is the average lead-in time for planned campaigns vs. planned and executed campaigns?
- Which industry sectors book when and where?
- How different do plans that convert look compared to those that don’t?
- Which sectors act differently in an election year or an Olympic year, and how should we get ahead of this?
- Who buys at a specific low rate, and when do those rates usually appear?
- Who is reactive and tends to plan after a competitor campaign?
- What campaigns holistically perform the best, stand-alone or with other media?
- How does weather or unprompted world events affect a live campaign, and how should we pivot?
- What did a client miss out on in previous years, and how do they avoid it going forward?
This list is as long as your imagination or as deep as your talent as a planner or a salesperson, and if you’re one, you also have to be the other to succeed. In the past, it also hinged on your ability to mine, interpret, question, understand, and deliver masses of data-driven learnings; but soon, DOmedia AI will do that for you.
Get this right and, for example, our planning system will be able to tell you:
“If you do [x] combination of ads, re-target with mobile I.D.s the following morning and add [y] programmatic activity the same afternoon. A 27-year-old legal secretary, on a rainy Tuesday in Seattle, the week after the local team lost, leading up to a presidential primary, has an 85% likelihood to buy the product she’s seen, if it is a luxury item.”
And we’re just a couple of small hops away from making this a reality. Exciting, huh?
To receive a free morning newsletter with each day’s Billboard insider articles email info@billboardinsider.com with the word “Subscribe” in the title. Our newsletter is free and we don’t sell our subscriber list.
Paid Advertisement
