Ocean Outdoor launches £10mn ad fund for SMEs
By Rajiv Raghunath - April 07, 2020
The support fund will be administered in partnership with the local authorities Ocean works with
UK-basedOcean Outdoor has launched an advertising fund to offer support to the retailers and SMEs most severely affected by the coronavirus crisis.
A fund with a media value of £10 million has been established, giving businesses and brands access to advertising space across Ocean screens in 12 UK cities. The aim is to help support and stimulate businesses, jobs and the local economies in the cities where Ocean operates.
The support fund will be administered in partnership with the local authorities Ocean works with. The fund is more than sufficient to cover multiple advertising campaigns for SMEs across Ocean’s roadside and city networks.
Ocean screens are located in Glasgow, Edinburgh, Aberdeen, Newcastle, Leeds, Liverpool, Manchester, Birmingham, Nottingham, London, Bristol and Southampton.
Restrictions on the movement of people are significant. The use of public transport has plummeted 75%, offices mothballed, many employees furloughed and the service sector brought to its knees by the closure of pubs, restaurants, cafes, stadiums, events, leisure and cultural destinations.
People are rightly complying with government restrictions on movement and social contact, but there still is an OOH audience. This includes the one in three people who are not able to work from home and around 67% of people who are going out, be it to buy food and essential supplies or to exercise. These trips may not be for long, but they are frequent.
Data from the TomTom data monitor shows on average 51.7% of UK roadside audiences are still in play, offering brands millions of potential contact points every day.
Ocean Outdoor UK joint managing directors Phil Hall and Steve George said: “Brands, retailers and SMEs need to continue to market themselves, so our message is do not go dark. Previous crises have seen a reasonably rapid return to ‘normality’ for strong brands - and research from Kantar shows that stronger brands recover nine times faster.
“However, for many SMEs, income streams and operating costs are under incredible strain. Ocean hopes to alleviate some of that stress through this fund. If we can leverage our network to help keep businesses and local economies going, or kick-start them even, then that can only be a good thing.”
- The Ocean SME support fund is open for small to medium sized businesses affected by coronavirus.
- Participants need to be open for business or be able to trade in the short term.
- The digital campaigns will be posted based on availability between April and June.
- Businesses are responsible for the layout and supply of their creative campaigns.
SMEs in the UK can register their interest for the fund via www.oceanoutdoor.com/SMEfund