Top 3 OOH strategies for financial marketers to drive customer acquisition

BY RIKAZ MAHFOEL - media evaluator

As brand managers at financial services companies navigate the era of media overload and fragmentation, financial services marketers face a specific challenge: selecting the best media and channels and driving measurable results, all while breaking through a cluttered media landscape.

Fortunately, the emerging channel of?digital out-of-home (DOOH)?provides financial services marketers with proven strategies for success. Digital screens in the physical world deliver flashy, eye-catching creative that is relevant across multiple touch points throughout a consumer’s daily journey. On top of that, advanced creative capabilities, privacy-safe data tactics, measurement solutions and eye-catching flexibility offer marketers a unique opportunity to leverage this channel in an impactful, measurable way.

Here are three DOOH strategies every financial services marketer should keep top-of-mind when developing media and creative campaigns:

Use physical location & context for privacy-safe targeting

Behavior in the physical world can help paint a picture of consumers’ interests, habits, characteristics and more. Location data enables marketers to better understand how consumers move throughout the day and where they spend their time. This type of analysis - sometimes called “audience affinity” - helps financial services brands look at the habitual patterns, finding the specific times and areas the desired audience has the highest propensity to be. AI technology can identify all of the DOOH screens that fall into these locations and times. Brands can activate media precisely to reach their audiences, in a?cost-efficient manner.

Highlight offers during relevant payment activities & moments

Financial brands can leverage tactics like contextual and point-of-interest (POI) targeting to engage in moments when consumers are likely to be thinking about investment, gold loans, payment, credit card benefits, banking requirements and more.

Today Richardson has screens available in many locations where consumers might be engaging in activities related to investment, gold loans, payment, or to potential perks a credit card company might offer. Tap into these moments when customers are thinking about financial services. Tap into them when they are in the city and when they are ready to make the final move.

POI targeting - activating media within a certain radius of specific locations - offers another way to surround key locations with relevant messages. An insurance company might consider surrounding car dealerships with auto-specific packages, or a mobile banking app could conquest the retail bank locations of a competitor.

Leveraging DOOH allows marketers to reach consumers when they’re thinking about your services through thousands of unique venue types around the world.

Measure the full marketing funnel, from offer awareness to sign up intent

Financial marketers need campaign measurement solutions that deliver real-time, actionable insights into the impact of their activations. They need to understand whether their strategically placed advertisement generated awareness, increased sign up or purchase intent, or even impacted consumer sentiment compared to competitors to make sure their efforts are resonating with the right audience.

Fortunately, these insights are achievable through advanced DOOH measurement capabilities. The DOOH space has unlocked a new world of actionable insights for financial marketers that weren’t originally as easy to measure.

Summary: more insights, personalization & measurement = recipe for success

DOOH presents financial advertisers with a unique opportunity – the ability to better understand who their consumers are, and thus, where they’re most likely to be, equipping advertisers with the tools necessary to target them with personalized, relevant messaging to ensure their campaign is actually resonating. On top of that, an advanced suite of measurement solutions allows brands to measure the impact of DOOH advertising on both upper funnel and lower funnel KPIs, providing real-time insights that marketers can use to inform future strategies.