Clear Channel: Finance brands should increase outdoor investment
Outdoor advertising offers higher revenue returns for financial service clients, according to a new econometrics study conducted for Clear Channel.
Finance brands spent an average of 9% on outdoor advertising last year but Brand Science, the company carrying out the study, said brands should increase their investment to 15% in 2010.
The report found that outdoor advertising delivers an incremental RROI of £1.60 for each £1 of media spend, which compares with £1.57 for TV, £1.80 for print, £1.89 for online, £1.43 for direct mail, and £0.87 for radio.
The study also shows that higher investments in outdoor deliver a greater return because out-of-home advertising makes print, TV and online work harder by delivering the branding message that reinforces the response mechanism.
Sally Dickerson, global director of Brand Science, said: “Outdoor helps the response media, including print and online, to work harder. Outdoor also delivers high returns on investment in itself, and deserves a much higher share of investment.”
Brand Science’s report also claims that outdoor is the only medium where returns consistently improve.
Pip Hainsworth, marketing director of Clear Channel Outdoor, said: “We have been working with Sally Dickerson since 2007 and her expert and robust methodology is highly respected in the industry. In all three categories that Sally has analysed in depth, she has shown that Outdoor plays an important role in delivering high returns on investment that actually increase at higher weights and that Outdoor at sufficient weights enhances the ROI from other media too.”