Utilise mind metrics, market metrics for effective OOH advertising: Murugan S, CEO, Southern Health Foods
By Neelambari Kakaraparthi - February 05, 2024
Murugan lays emphasis on the need for robust brand tracking mechanisms
In his keynote on ‘What's the RoI that OOH must deliver to advertiser?’ in the South India Talks OOH conference held in Chennai on February 2 that set the tone for a panel discussion, S Murugan, CEO of Southern Health Foods, brought attention to a critical industry challenge, stating that a substantial portion—almost half—of advertising expenditure often yield unproductive results. He highlighted that only the remaining half constitutes the Return on Investment. This revelation was intended to push the advertisers to fully capitalise on the potential of OOH advertising and employ a dual approach involving both mind metrics and market metrics to evaluate and optimise their impact.
Delving into the intricacies of tracking responses, Murugan emphasised the significance of establishing robust brand tracking mechanisms. For mind metrics, he suggested monitoring conversations around the brand, ensuring that people are actively discussing it, and evaluating the effectiveness of word-of-mouth promotion. In parallel, he emphasised the necessity for the sales team to ascertain that OOH efforts are translating into tangible revenue through increased sales.
Expanding on the market metrics front, Murugan provided a comprehensive set of indicators, including tracking sales in specific localities, monitoring changes in market share, assessing trial percentages, and gauging the acquisition of new consumers. This multifaceted approach aimed to offer advertisers a comprehensive understanding of the market impact of their OOH campaigns.
Responding to the pivotal question of how advertisers can effectively leverage OOH, Murugan provided a strategic roadmap. This included clear communication of product benefits, accentuating the essential need for the product, incorporating innovative technologies, localising campaigns to resonate with specific audiences, consistent innovation for enhanced visibility, utilising OOH as a sampling platform, incorporating statistical data for attention-grabbing campaigns, and integrating a compelling "call to action" along with contextualizing OOH strategies.
Additionally, Murugan extended his insights to media providers, urging them to benchmark global ideas within their specific categories and emphasising the importance of joint ownership in ensuring a positive ROI. This nuanced and comprehensive keynote not only addressed the challenges within the OOH advertising landscape but also provided actionable strategies for both advertisers and media providers to navigate and thrive in this dynamic environment.