The keys to out-of-home media success are 'speed, speed, speed and cost', said Brendon Cook, CEO of oOh!Media, at a Visual Impact breakfast seminar hosted by Dscoop.
Speaking before a crowd of 90 people, Cook outlined oOh!'s strategy with both digital and classic (traditional print media), and stressed the importance of being able to move quickly in today's fast-paced environment. "We used to have to sell 99 per cent of our monthly budget for large-format printing in a classic-only world seven days before the start date. Today, we sell 20 per cent of our revenue during the four weeks of the month," he said.
Cook compared the outdoor media industry to Facebook, whose CEO Mark Zuckerberg ordered the company to focus on 'mobile, mobile, mobile, and social engagement', and presented an alternative mantra for the out-of-home sector. "Speed is becoming everything. Your number one business plan should be speed. We live in a fast-paced world. Clients want to move quickly, they want to get it in, out up," he said. "Your number two should be speed, your number three should be speed, and number four should be cost."
According to Cook, digital outdoor advertising provides flexibility and speed of change; in a case study he provided, oOh! was able to push out the news of Commonwealth Bank dropping ATM fees to all its digital billboards as it was being announced on TV. Classic, he said, is useful for building brand fame, selling product, and providing local and relevant content. "I still firmly believe in the power of classic. In a more digitised world, we still use it," said Cook.
Kelvin Gage, chairman of Dscoop Asia-Pacific and Japan, urged guests to take Cook's message on board. "While this is a rapidly-evolving industry, there is still plenty of room for static traditional printing as well as more dynamic digital advertising," he said. "Some of the key take-homes were the need to be dynamic and agile. Speed to market is critical these days, and obviously the digital market allows us to do that more easily, but the ability to get quicker turnaround times for printed media is also important."
The next major Dscoop event is the Dscoop USA 2019 conference, which will be held in March in Orlando, Florida.