Business strategist James Moore was the first to compare business with biological ecosystems, describing it as “an increasingly interconnected community of companies adapting and evolving to survive.” Moore suggested a company be viewed not as a single firm, but as a member of an ecosystem spanning multiple disciplines.
In DOOH, this couldn’t be more true to life. Our interconnected ecosystem is made up of advertisers, media owners, specialists, agencies, hardware and software suppliers, data suppliers and more. Delivering an end-to-end campaign requires each one – with their unique systems, connections and relationships – to work together.
Add dynamic campaigns and new ways to plan and buy to the mix, and it becomes increasingly complex for media owners to handle transactions in the traditional way. At least at scale.
How do media owners navigate this increasingly complex ecosystem?
Like many industries, OOH is turning to tech. For media owners, automation software relieves sales teams of laborious manual tasks, freeing their focus for what really matters. Automation also holds the key to connecting with automated buyers, paving the way to new ways to buy and sell and beyond to optimisation and closed-loop reporting.
Are automation and programmatic the same?
Programmatic is simply a type of automated transaction and there are several, constantly evolving, models. While relatively new to OOH, Online has been using automated and programmatic buying for some time. To understand the different models, it’s useful to look to the evolution of automated and programmatic buying in Online advertising (where it has been the status quo for some time).
In 2013, the IAB categorised the different models into combinations of fixed, auction-based, reserved and unreserved.
Working predominantly in the UK market, we’ve found the greatest appetite from DOOH buyers and sellers alike, is for the automated guaranteed buying method.
What is Automated Guaranteed in DOOH?
Put very simply, it’s an API that allows a buyer to:
- Discover inventory
- Check (near – within one second or so) real-time availability
- Place reservations and bookings
- Push artwork
- Retrieve reporting
All with a price pre-agreed between the buyer and seller – per booking or with a CPM rate for a fixed period.
How do we get mass adoption of Automated Guaranteed in UK OOH?
We believe that mass adoption of automated guaranteed in the UK will ready the DOOH market for further evolutions in programmatic OOH. So, what are the steps we need to get there?
Based on numbers from Outsmart and Space, DOOH currently represents over £500M in revenue, which is almost half of the OOH market. As of October 2018, there are almost 19,000 DOOH screens in the UK. We’re moving to a digitised OOH world, and fast.
Demand from buyers
While most UK media owners are on board with the benefits they’re unlikely to move until their buyers demand it. In the UK, 90% of planning and buying comes from a small group of specialists and agencies. Posterscope, MediaCom, Talon, Kinetic and Rapport.
With these buyers live, or close to live, with automated systems that have the ability to buy both broadcast and granular, data-based campaigns, that time is now. Those media owners quickest to move have a golden opportunity to take revenue from their competitors.
Finally, and perhaps most importantly, each part of the campaign delivery puzzle must connect and speak seamlessly to the next.
With the introduction of industry standards, such as IAB’s OpenDirect 1.5.1, some progress has been made. But to achieve complete connectivity, there are many more technical hurdles to be overcome.
Which is why we’ve introduced Signkick Trading Bridge.
Signkick Trading Bridge is the friction-free way for D/OOH media owners to connect and trade with automated buyers.
Whether you are a top-tier media owner looking for compatibility, or a challenger brand starting from scratch, Signkick Trading Bridge can help you get ahead. Get in touch or head here to find out more.