Managing Director of Analytic Partners, Paul Sinkinson, said the analysis in sales performance and marketing ROI of more than $9 billion in marketing spend in Australia highlighted the need for marketers to consider multiple platform campaigns to drive better results.
“If you invest all marketing dollars into one channel, over-weight or underweight particular mediums, you could be weakening marketing performance significantly,” Mr Sinkinson said.
“A campaign’s ROI tends to increase along with the more media platforms used as splitting the budget across more avoids individual tactics reaching diminishing returns.
“We also see that the use of multiple platforms drives synergies that results in the message sticking with consumers longer and having deeper influence on decisions.
“For example, the combination of TV, Digital and Out of Home drives a 27 per cent incremental increase on top of the ROI delivered by each of the mediums separately.”
The most in-depth look into the ROI on advertising across all media, this year’s study also revealed:
- The optimum results for campaigns with a media spend of under $1 million was achieved with a media mix of Digital and Out of Home.
- Campaigns that had more than six per cent of their media spend in Out of Home achieved a 57 per cent ROI, while those who spent under that only achieved a 41 per cent ROI.
oOh!’s Chief Customer Officer David Scribner said the results gave advertisers powerful and actionable insights to draw on when determining not only the media buying strategy but the creative needs for different formats.
“By drawing on Analytic Partners extensive ROI genome from a cross section of industries and marketing tactics globally, advertisers are better able to determine the tactics that are proven to drive greater return” Mr Scribner said.
“It also highlights the important role of Out of Home to do some of the heavy lifting of building reach, particularly for campaigns that are heavily weighted towards digital and the importance of ensuring the right creative is used for the right environment.
“The report shows that by taking your campaign messaging and tailoring it for the Out of Home environment, based on weather triggers, time of day, location or more, there is plenty of ROI upside.
The full ROI study will be presented at oOh!’s upcoming roadshow to update advertisers on the latest media insights and the unveiling of an enhanced data offering that will help marketers more precisely target consumers who have greater likelihood of buying.
Download the press release here.