Great first day at the IBO Fall Conference in Phoenix. Here are just a few quotes from the many great presentations provided to the IBO members.
Sheldon Silverman, Founder & CEO of LMI Advisory Group on “The State of the State”.
On OOH’s share of spend: “Out of home always sits right at about the 5% window. There are some countries that do a little bit more, but when you look at it in aggregate, it’s 5%.”
On the measurement problem: “The fundamental piece that our industry has not been able to overcome is the measurement side of it. It’s not just that we [need] a measurement paradigm that everybody lives by — it’s also that we don’t use the same vernacular as the others. I liken it to the Tower of Babel.”
On proprietary tools: “So many of the players in the industry built their own tool rather than using an industry-wide tool. Building these tools does not equal truth. It doesn’t equal building trust with the brands and the media buyers.”
On the agency burden: “The way all other media is bought is via measurement avenues where you can actually compare your TV spend to your digital spend. When it comes to out of home, an agency needs a team of people to take the measurement they get back from various out-of-home players, normalize it among the total media spend and communicate it to their clients.”
The call to action: “Us being able to work together is going to be key to being able to surpass that 5% sales threshold.”
On pent-up buyer demand: “The media buyers that I talk to anywhere in the world tell me that if we get our act together, they will open up the floodgates, because they do know inherently that out of home works. The problem is when it comes time to show the proof to the actual brand, they cannot qualify it the same way they qualify everything else.”
Dave Pratt, Owner, Pratt Marketing on “What Makes an Advertiser Say Yes to OOH.”
On thinking bigger: “When a client comes to us with $100,000 a month, that’s where you need to compete. It’s not just the money they already have allotted for billboards. If you do that, you’re only competing for a small piece of the cheese.”
On competitive spirit: “Who cares if your competition likes you? You’re doing something wrong.”
On repurposing boards for social: “We would take those billboards and use them as content to put on socials. Now you’re using digital, but it starts with you — it starts with the content that you’re creating.”
On audience data: “Just make sure your numbers are always credible, which they are, and use them, because it’s already impressive the amount of traffic you get.”
And finally, from an unnamed owner/operator during “Capital Sources: Funding Growth, Transition and Long-Term Value”
“Bankers don’t know S_ _ t about Billboard Values.”
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