Image credit: Thom Masat, Unsplash
Digital out-of-home marketplace VIOOH, released a new report highlighting the importance of programmatic OOH media in Hong Kong.
According to the State of the Nation report for Hong Kong, a large proportion (84%) of Hong Kong respondents state they have recently bought, planned, or placed OOH programmatically in the last 12 months, above social media.
Almost all (94%) expect to increase their investment in programmatic OOH in the next 18 months.
The report surveyed executives from media agencies and advertisers in Hong Kong during January 2021. In the Hong Kong market, digital OOH emerged as the second most popular media channel with 82% of respondents open to investing.
“Programmatic technology is opening up new possibilities in a traditional media channel.”
The main drivers of spend for programmatic OOH are flexibility, price, accurate targeting, and the ability to measure across digital channels.
In Hong Kong, programmatic investment in OOH in the last 12 months ranks highest among media channels, with social (80%), digital video (80%), and digital audio (70%) following closely behind.
Three-quarters (76%) of all Hong Kong media executives either agree or strongly agree that programmatic OOH is a part of their programmatic and digital strategy.
Despite the macro-economic uncertainty caused by COVID-19, respondents were optimistic about the opportunities that programmatic OOH offers. Most Hong Kong executives (93%) expected COVID-19 to impact the adoption of programmatic OOH in general, but over a third (37%) anticipate more than doubling their spend on programmatic OOH in the next 18 months.
In Hong Kong, 81% of marketers planned, bought, or placed programmatic OOH in 2020 due to its flexibility.
When looking at campaign objectives, over half (58%) of agencies and more than a third (36%) of advertisers believe that OOH is important for brand-led campaigns.
For performance-led campaigns, this increases to over three quarters (76%) of agencies and 38% of advertisers believing that OOH is important.
“Programmatic technology is opening up new possibilities in a traditional media channel,” said Ben Lin, China CEO at VIOOH.
“For marketers looking to maximize the value of their advertising budgets, the agility, flexibility, and trigger-based decisioning intrinsic to programmatic OOH are crucial. With 94% of executives looking to increase spend on programmatic OOH within the next 18 months, the future for programmatic OOH in Hong Kong is strong.”
Find the full report here.
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