The traditional advertising industry needs to be revolutionised

Worry not, the advertising industry revolution is not about fighting hard with its current actors – advertisers, space owners, creative and media buying agencies – but rather about bringing them closer together. It’s about democratising the advertising industry, giving SMEs access to big media owner names, helping smaller space owners to monetise their assets, and giving brands a way to reach precisely their target audience.

We could compare it to the transformation of the travel industry, where the internet suppressed useless and burdensome intermediaries, thus facilitating access to travel for more people, and increasing tremendously the size of the travel industry business “cake”. However, travel agencies are still much in demand for sophisticated trips involving several stop-overs, unknown destinations, or when specific integrated or personalised services are needed.

But in this digital era, why focus on print media and out-of-home? Online, social media and mobile advertising is already well taken care of by the tech giants Google, Facebook, LinkedIn, and the like who offer tools to do precise targeting, as well as the many specialised digital marketing agencies who provide services around it. On the other side, there was no existing single source of information for physical spaces, nor a way to purchase them easily online. To remediate, online marketplaces for advertising spaces are emerging, focused on last minute offers for traditional media.

Moreover, studies are increasingly showing that advertising on the internet is proving less effective than expected, due to mistakenly clicked links, and users going after the rewards more than the product or brand advertised. Today, advertisers seek new opportunities and innovative media, in more targeted publications or creative advertising supports. With physical advertising, brands are visible in the real world, where their customers have time to read an ad while sipping their cuppa, getting their nails done or ridding a cab.

Great news is with outdoor advertising anything becomes possible, only sky is the limit – as demonstrated by the recent Evian Live Young campaign in Singapore. Anyone who has a regular customer base can sell advertising space on their premises, such as restaurants, fitness, yoga or beauty centres. Advertising space sales increase their bottom line, which is not negligible given the well-known high fixed costs of running a services business in the Little Red Dot.

Just like with online marketing, where advertisers are able to precisely profile the audience exposed to their ads, an advertising marketplace for physical ad spaces allows advertisers to accurately find the spaces where their customers are located. Specific audience targeting is of utmost importance especially for SMEs, who likely sell products and services to a defined population and operate under tight budget constraints. Thanks to a platform such as Bid4Ad, these companies – and MNEs as well – can manage their media spending effectively, by choosing to be present at the place and time relevant to their identified target group and branding strategy, on a wide variety of advertising supports. In a nutshell, handling their own media buying allow any type of advertiser to maximise the ROI of their campaigns by being targeted and creative, instead of spreading widely and getting their message lost in the mass.

As technology is transforming and simplifying the online advertising marketplace with real-time and programmatic bidding, the marketplace for physical advertising spaces rides on similar platforms to enable bidding – and there isn’t a good reason not to take advantage of it.

Laura Zaccaria, Business Development & Marketing Manager, Bid4Ad – The Advertising Marketplace

[Image by Shutterstock]