OOH market overview in the fourth quarter of 2020

In November 2020, Compass Tech surveyed 35 rotations, bridges, major crossroads, central areas in Ho Chi Minh City, collected more than hundreds of outdoor billboards in Ho Chi Minh. With a large number and concentration boards (sample); the report shows an honesty view of the implementation of OOH advertising of brands; in the context of a year affected by the Covid-19 pandemic.

 Accordingly, the total value of the billboard in Ho Chi Minh City up to 13 million USD. Of which, the billboard purchased was up to 9,599,500 USD, accounting for 73% of the total number of billboards; equivalent to 220,788,500,000 VND. The value of the blank billboards is 3,244,000 USD, accounting for 27% of the total number of billboards; equivalent to 74,612,000,000 VND.

Compared to May 2020, the blank billboard rate has decreased significantly (from 41% to 27%). The reason that has helped the OOH advertising industry in Vietnam tend to recover is the control of Covid-19 pandemic and the upcoming Tet season. This is a preparation step for the OOH industry to develop to serve the New Year 2021.

Top 5 outstanding industries in Ho Chi Minh

FCMG

Like the previous quarters; FMCG has always been the industry that buys the most billboards in Ho Chi Minh City. FMCG accounts for nearly “half of the OOH pie” with 42% of the total number of billboards. Typical FMCG brands running an advertising campaign in the market are: Milo; Appeton; Romano; Enchanteur…

Real estate

The real estate industry at present has used many billboards; mainly concentrated near apartment buildings, brand’s new projects. If compared with May 2020; real estate has increased 18% rate of OOH advertising. Typical brands of the real estate industry are running advertising campaigns: Novaland, An Gia, Gamuda Land, Nam Group…

Banking

Compared to the previous Covid-19 pandemic, the banking industry accounts for 18%, by the end of 2020, the banking industry has decreased to only 6%; mainly concentrated in central areas, lightbox, banners … Big banks still advertise outdoors such as: Vietcombank; VP Bank, Agribank, Vietinbank…

Electronics

As predicted by Compass Tech; the electronics industry focuses mainly on the summer months. Therefore, the electronics industry has reduced the use of outdoor advertising from 22% to 17%. Although the number of signs has decreased; but the electronics industry still has many competing brands such as Daikin, Casper, Bluestone, Samsung, Senko…

Technology application

Because the Covid-19 pandemic has not yet vaccine, this is the time for the technology application industry to take the throne. Customers will prioritize buying and paying online; the trend of using technology vehicles has helped the technology application industry slightly increase by 2% (from 15% to 17%). Outstanding industries include: Baemin, Zalo pay, Gojek, Lazada…

Highlights in the OOH advertising market for the fourth quarter of 2020

Compared with the same period last year, 2020 has seen many new changes; reshape the market this year.

– Major brands of FMCG industry familiar with the OOH advertising market many years ago almost disappeared in the billboard market this year such as: Cocacola, Vinamilk, Pepsi…

– Unilever is a large corporation in the world that has cut the OOH advertising budget in Ho Chi Minh City; Unilever’s missing brands in Q4 2020 were: Lifebuoy, Omo, Dove, TRESemmé, Knorr, Sunlight, Comfort…

– The impact of the covid-19 pandemic is arguably the main reason why the banking industry is cutting advertising budgets later this year.

– Grab – a big player in the market is no longer seen on the OOH market in the fourth quarter of 2020. Instead it was Gojek, Beamin has increased its outdoor advertising campaigns to gain market share in the Ho Chi Minh City market.

– Many brands switch to a short-term OOH advertising campaign (less than 3 months) to cut costs; suitable for the rapidly changing market today.

Predict the Tet market in 2021

From the survey and analysis of the OOH advertising industry; Compass Tech predicts that the Tet 2021 market will not be as exciting as in previous years. Big brands will still have limited advertising budgets due to lower revenue. However, this is also an opportunity for small brands to have good locations; dominate the market with short-term campaigns.

Compass Tech’s detailed industry reports

These are the most comprehensive figures surveyed and analyzed by Compass Tech for the OOH advertising industry in Ho Chi Minh City. In addition, Compass Tech also provides OOH advertising industry reports for businesses by industries and brands, this helps the companies know what other brands are running in HCMC. The detailed report will provide businesses with important information such as: The positions of the billboard of brands; the value of the billboards; Opportunity to contact (OTC); Visibility adjusted contact (VAC).

Click here for the full Reporting on OOH advertising industry in the fourth quarter of 2020

Contact Compass Tech to receive a detailed report via Hotline: 0933 15 99 88 or Email: info@compasstech.asia

The post REPORT OUT OF HOME ADVERTISING INDUSTRY FOR QUARTER 4, 2020 appeared first on Compass Tech - Đo lường quảng cáo ngoài trời.

The effectiveness of OOH is still unknown:

For a long time, measuring outdoor advertising has become a big demand and challenge for businesses. Many outdoor advertising companies still cannot prove their effectiveness with the budget used for OOH; provide useful measurement data for customers. Leading to:

• It is difficult to plan and measure advertising effectiveness based on budget.
• Does not prove effective even though this is a good type, cheap, highly interactive.
• Reduced communication effectiveness of the campaign due to choosing the wrong billboard, buying the wrong location
• Waste of budget because of choosing an inappropriate billboard.

In Vietnam, according to Compass Tech’s research on the revenue of the advertising industry is estimated at 300-400 million USD/year but the field of measurement proving the effectiveness of OOH is still unknown.

Why advertising companies have not proved OOH effectiveness in Vietnam?

Lack of the basis of measurement theory and appropriate measurement technology:

In Vietnam, the measurement of outdoor advertising is assessed to be quite complex, each company measuring each type and the figures are not identical. Most of these measurement services do not demonstrate measurement methods; measurement data – leading to debate and unreliability of customers even though they spend a lot of money on this.

Optimize technology and measure costs:

In developed countries, measuring traffic volume is quite easy through data analysis from black gps boxes on cars. However, the above method can only be applied on roads with clear and spacious traffic density without being overlapped.

Therefore, it is difficult to have any method of measuring roads with conventional cameras that can fit the density of motorbikes and crowded as in Vietnam. On the other hand, with the status of billboards mostly complicated positions with many views: intersection, rotation, on the bridge, … To digitize the factors of “attention vision”, “visibility Glimpse ”,“ shielding rate ”for these positions, requires the evaluation and calculation of factors to be very complete and objective.

Although difficult, but not necessarily a solution, the problem is that every business needs to choose a method that has both reasonable and cost-effective measurement technology and the highest possible accurac.

Challenges in terms of rating and evaluation:

General information and construction of evaluation scorecard, ranking board must be done by experts in outdoor advertising industry. Therefore, the construction of score system and method of evaluation also requires the following strict requirements:

+ Actual measurement: Customers, readers of measurement certificates are full of information and quickly understand the essential factors. They can use important information in billboard trading, planning,…

+ Transparency in measurement data: Specific measurement methods, measurement time, authenticated images, etc.

Compass Tech’s outdoor advertising measurement solution:

OTC: Opportunity to Contact –how many people could come through and see your outdoor ads.

VAC: Visually Adjusted Contact –number of people who saw the advert during the outdoor campaign.

These are the most basic and essential parameters that are researched and proposed by the European Communication and Marketing Association (Esomar) to measure the effectiveness of outdoor advertising.

However, depending on the traffic characteristics of each country, there are suitable outdoor advertising measurement techniques. For example, in the Vietnamese market, the traffic flow mainly comes from a large number of motorbikes, does not follow the lane between the roads, creating a technical challenge of measuring traffic flow by camera.

Compass Tech is a pioneer in using Machine Learning and Computer Vision technology in image analysis and traffic counting to 96%; allowing classification of vehicles and measurement in many conditions such as weather, glare, traffic jam, day and night.

Up to now, Compass Tech is considered as one of the few companies that can complete the outdoor advertising measurement solution with the ability to measure each interaction with the ad position by the hour of the day, day of the week, vision of effective interaction of all routes in Vietnam market.

4 steps to measure outdoor advertising by Compass Tech:

Step 01: Actual survey, take photos of the scene, initial assessment

This is the first and most important step in measuring outdoor advertising. The technician will have to examine the installation location, the passing routes and the views of the advertising position. Based on the survey results, the technical team will choose the location of the camera installation to conduct traffic flow and vision analysis effectively. Compass Tech is the only measurement unit in Vietnam that conducts field and field surveys and measurements.

Step 02: Install traffic measurement camera, measure Vision with action cams

Compass Tech measures outdoor advertising effectiveness using actual data obtained by traffic cameras and action cams. These are actual data, can be searched and extracted, cannot be faked. This gives the credibility, the high authenticity of the measurement certification issued by Compass.

Step 03: Analyze and process measurement data

Measurement data is collected in 14 days and vision analysis data are all processed using automated computer technology developed by Compass Tech. This technology allows the classification of vehicle types, aggregate and statistics of traffic by hour, by day, by week.

Step 04: Summarize information, rank and issue certificates

Compass Tech’s measurement and grading certification set is built on 34 criteria, a 1000-point scale and 6 ranking ranks. A set of certifications built by outdoor advertising experts brings the convenience and professionalism for businesses to use for many purposes.

The stages are carried out by a team of experienced experts with Compass’s proprietary technological process; ensuring the comprehensiveness, accuracy and transparency of a measurement certificate (with a state license).

Compass predicts the future

 “OOH is a traditional media industry, and has been heavily influenced by the digital advertising industry. Digital advertising has proved the advantages of technology factors, data and utilities for customers that traditional billboard has not done. So the future of OOH industry depends on the transformation and adaptation of the industry in general – to be able to reveal and exploit the strengths of OOH in Vietnam market (outdoor advertising measurement)”said Mr. Nguyen Quang Nhut – Director of Shojiki.

Outdoor advertising will hold an important and irreplaceable position because of the specific characteristics of the economic; social, transport and lifestyle structures associated with each Vietnamese people. With unremitting efforts, the company will develop utility services for the more sustainable outdoor advertising industry.

The post THE LARGEST OUTDOOR ADVERTISING MEASUREMENT COMPANY IN VIETNAM – COMPASS TECH appeared first on Compass Tech - Đo lường quảng cáo ngoài trời.

Outdoor advertising solutions provider Compass Tech shares the fundamental factors that impact outdoor advertising’s effectiveness. These are also the standards for choosing signs and billboards that businesses need to consider.

Position:

This is considered the most important factor when brands choose outdoor advertising placements for the campaign. Choosing an outdoor advertising position is closely linked with the brand’s instructions, the message, and the target customers of the brand.

The top brands often choose the most famous and formal advertising positions in the city. FMCGs will choose locations close to their target customers such as markets, supermarkets, convenience stores and groceries …

The top brands often choose the most famous and formal advertising positions in the city. FMCGs will choose locations close to their target customers such as markets, supermarkets, convenience stores and groceries …

Number of potential customers (prospect) reached

The number of people who reach the outdoor advertising determines the effectiveness of a campaign. Unlike television or online advertising, customers passively approach outdoor advertising, forced to look because they cannot close their eyes in traffic. Normally a person will have to travel the same route often, so the outdoor advertising images will be able to remember for a long time in their thoughts. An effective ad must be placed in the position with the most traffic flows in order to reach the target audience of your campaign.

Furthermore, choosing the right traffic factor can reach the correct customer file of the campaign or the desired characteristics of the customer, thereby selecting the right communication messages for each location.

For example, when choosing an advertising location in the inner city center of big cities, there will be a traffic factor that concentrates the customer file as office workers, offices, business people rather than advertising positions on the National Highway. . Choosing a location with a traffic factor close to the mall or supermarket will interact better with the file of housewives …

Direction to join traffic:

Along with the traffic of consumers approaching, the traffic factor also plays an important role in the advertising campaign. Choosing the right position for the signboard with the right traffic factors helps increase the advertising efficiency of the campaign, helping to reduce costs.

This also depends on choosing the main roads as the focus of advertising. These are arterial roads or gateways of provinces and cities, with high traffic density, suitable for campaigns related to industries, telecommunications, banking … The intersection is also a familiar outdoor advertising spot, characterized by high traffic density, long advertising interaction time, suitable for campaigns with fashion, FMCG, travel, and aviation industries. …

After choosing a route, location, customers need to consider the direction of the billboard. A beautiful billboard is a board that must be seen from many directions; the opposite direction of the board coincides with the direction of the main road. The board is not obscured in any direction or any part, nor is it overlapped by another board.

Size, height of billboards:

Depending on the large and airy area, the size of the board will have different standards. The board should be within the pedestrian’s eye-level, neither too high nor too low. To ensure good visibility, small boards should be ground to short boards, large boards should be ground to longer boards.

For example, if a table has a visibility of about 200 m, the distance from the ground should not exceed 8 m, which is equivalent to on the third floor of the building; from the ground to the bottom of the board. If the board has a visibility of more than 500 m; the minimum board size is about 100 m2 …

Landscape:

This is also an important factor in the table selection criteria. The landscape around the table should be clean and beautiful. Do not choose the board at the construction site; where there is a lot of rubbish, power lines, and household drying areas. If there are many other tables around, make sure the billboard selected must be the most prominent and most attractive.

– OTC (opportunity to contact): the number of people with the opportunity to access outdoor advertising

– VAC (visually adjusted contact): number of people who saw the advertisement on billboard

These are the basic elements researched and recommended by the European Association of Marketing and Communications (Esomar) for use in measuring outdoor advertising effectiveness.

However, depending on the traffic characteristics of each country, there are suitable outdoor advertising measurement techniques. For example, in the Vietnamese market, traffic is mainly from motorcycles with dense, interspersed roads, creating a technical challenge of measuring traffic flow by camera.

Compass Tech – outdoor tracking advertising:

Compass Tech is a pioneer in using Machine Learning and Computer Vision in image analysis and traffic counting with 96% accuracy; allowing classification of vehicles; measurement in many conditions such as weather, sunny, traffic jam, day and night.

Measuring camera is installed for 16 days at the location to be measured; then it will be analyzed to count statistical traffic by hour of day, day of week. Knowing the characteristics of traffic traffic allows advertisers to create content more relevant to the target audience’s peak hours, school hours, and commute hours …

Compass Tech also pioneered the use of dashcam’s vision advertising performance evaluation technology in all billboard directions; allowing billboard owners or media planners to accurately assess the experience of the angle. Effective vision, ad position’s visibility honestly.
Find out more articles here

The post 5 BASIC FACTORS MEASURING OUTDOOR ADVERTISING appeared first on Compass Tech - Đo lường quảng cáo ngoài trời.