You might have heard about the change in customer behavior many times, especially at the end of 2020. You might have also noticed the changing customer behavior through the rise and fall of certain stocks in the stock market? Understanding customer behavior through the stock market??? Yes!!! Like what happened with Signal Advance Inc or Etsy, etc.
The rise in these stocks point a finger towards the changing trend of marketing,it reflects that people are believing a lot on the “word of mouth” form of marketing and also trusting the influencers they know or follow. Marketers need to be quick and strategize their marketing campaign according to the acceptance and response of their concerned target audience.
Businesses that are getting this huge response because of influencer marketing or “word of mouth” form of marketing, are taking this opportunity to a whole new level by adding more marketing efforts of not only digital marketing or inbound marketing but also outbound marketing especially Billboard promotions.
Billboards??? Are they still effective? Yes, Maybe… but stock trends like Gamestop and Dogecoin that got overnight success are moving from the Internet to Highway Billboards.
The recent news shows many Redditors were using Blip Billboards to do so.
The GameStop Corp. surge may have stalled, but some investors are trying to keep the enthusiasm going in a new venue: highway billboards.
The now-famous WallStreetBets cartoon mascot, with his black shades and slicked-back hair, recently stretched his arms above the morning commuters on highway I-694 near Minneapolis and proposed “$GME to the moon!” GME is GameStop’s stock ticker.
The electronic advertisement, featuring rocket emojis, is just one of more than 300,000 ads purchased across at least 30 states by people drawing inspiration from the WallStreetBets subreddit, said Kurt Tingey, senior vice president of business development for Blip Billboards.
Blip offers users brief showings of their ad for a flexible price that can be as low as 1 cent for an eight-second time slot. Demand from individual investors has driven Blip’s comparably inexpensive billboard ads up to 20 times its usual rate since Jan. 30, Mr. Tingey said, with a meme-stocks-related ad appearing every 2.5 seconds on its billboards nationwide.
“When this hit, it was over the weekend, and, man, our website traffic just went nuts, with a 1,900% increase in traffic to that site,” he said. “They just blew it up.”
Our Stance on the situation
Many of us might feel that, after getting so much attention on the internet, spending on billboard advertising is just a waste of time and money, but that’s not true. Billboard advertising still has relevance and is successful in attracting the audience. According to the WARC report digital out-of-home advertising (DOOH) is expected to grow 10% each year between 2018 and 2021. A recent report also found that Out of Home (OOH) advertising returns an average of $5.97 on every dollar spent in product sales, which is a Return on Investment of 497%. Also, another IPA Databank study conducted in 2018 found that OOH advertising boosts the business effects of search by 54%.
In today’s marketing and advertising, the 360-degree approach is playing an important role. So, instead of considering billboards as a slice out of your marketing pie, consider them as the crust that can support other campaign elements of your marketing by giving them a boost while helping in unifying various disparate marketing channels. We would conclude by saying make hay while the sun still shines and combine the best of both the worlds in terms of Outbound Marketing + Inbound Marketing to reap the maximum benefits.
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ABOUT THE AUTHOR
Chandrima Samanta
Content-Editor at MartechCube
Chandrima is a Content management executive with a flair for creating high quality content irrespective of genre. She believes in crafting stories irrespective of genre and bringing them to a creative form. Prior to working for MartechCube she was a Business Analyst with Capgemini.