Every out of home executive or investor should watch the Clear Channel Outdoor Investor Day presentation. It delivers rare insights into one of the country‘s largest out of home companies. Today I’ll discuss what Clear Channel Outdoor Americas Chief Revenue Officer Bob McCuin said during his 20 minute talk which runs from 22:30 to to 42:39 during the webcast.
Clear Channel Outdoor gets high marks for understanding the importance of the sales rep/client relationships and the power those relationships have to build sales. It seems basic but some companies discount that ingredient. CCO cited a Burrell’s & Assoc survey: 75% of local marketers like having the option to meet with their local sales rep in person, 86% of advertising buyers prefer local sales reps to handle their account. They recognize that local rep’s market knowledge, competitive insights, and ability to get things done for the clients, delivers huge added value.
Clear Channel Outdoor should also get high marks for understanding that selling only to the same people will not get them the growth they need. They are undertaking critical initiatives to bring more marketers into the OOH tent.
Clear Channel has discerned there are clients that are too small to warrant a full-blown local sales rep effort, but could represent high margin, incremental sales at an attractive cost of sale. It seems they will launch a portal whereby small local advertisers initiate their own OOH campaign. They select inventory, buy, click and pay without tying up valuable local sales resources. This new sales channel could also be a lead generator for clients who think they may be too small but in fact, upon company review, are of a size that does warrant a local sales rep’s effort.
Clear Channel Outdoor’s research and work in demonstrating to advertisers the power of OOH’s ability to drive digital engagement and response is impressive. It seems Clear Channel may have a bit of frustration regarding how fast there CCOA solutions are being presented and adopted by advertisers and agencies.
A bit of a Wizard of Oz moment exists when OOH companies want the attention of clients and ad agencies, and they already have their attention. Qualitative data on almost any OOH unit will show a big audience of C-suite level decision makers. C-suite executives and marketers are, “High-Milers”, constantly on the move and constantly consuming a lot of OOH messaging. Clients and ad agencies are “heat-seekers”. They are always surveying wherever they travel, assessing who is doing what.
A big driver of OOH sales faster is for OOH companies to use their own media with a compelling, benefit-headline-driven direct-response ad. While our industry wants clients to create big and bold messages that cut through, when OOH companies use our own media for self-promotion, the creative is often anything but breakthrough. A lot of self-promotion creative looks like someone was handed an assignment, cranked out a design and checked the box. Putting “available” on a billboard, doesn’t do anything to compel interest.
Every billboard carries two messages, the consumer message and the secondary message to potential advertisers that either tells them they want to be there, or they don’t.
When OOH companies tap the power of their own media for their own financial return, the sales growth will be explosive.
With all of the tools, data, and power of the media, it’s an exciting time to be an OOH sales rep.
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