The global pandemic continues to shape a new normal, and it's hard to find a sector of the economy that hasn't changed in some way. But what does the new normal mean for outdoor media as we lean into 2021?
In our Guide for the Post-COVID-19 Market that we released this summer, we took a deep dive into what Q2 2020 and beyond would look like in response to the pandemic and the U.S. economic bounce-back.
Now, we've updated the data and taken a fresh look at up-to-the-minute trends in order to answer the question on everyone's mind: How will COVID-19 shape Q1 2021 for OOH Advertising?
Overall foot traffic per venue across the U.S. is down -11% compared to 2019. However, while people continue to avoid indoor public venues and public transit, driving and walking outdoors increased +13% and +1%, respectively, compared to pre-COVID, and with a +19% and +26% jump in the last 30 days.
That said, it’s important for advertisers to leverage this rebound going into 2021 — thinking outside of the box, acting fast, and tracking their ROI dollar-for-dollar. According to a recent survey conducted by the IAB, 70% of advertisers have at least ballpark clarity on where they’re putting 2021 ad dollars. Those buyers with a clear view expect spend to increase by 5.3%.
Based on our own conversations with OOH-focused media buyers, we’re starting to see a resurgence in RFP’s and media budgets that are no longer on hold, and are now being allocated toward Q1 of 2021.
COVID-19 spikes/drops across the U.S. have also brought new perspectives to cities where you can make the highest impact.
Pittsburgh has had the strongest rebound in foot traffic in the last 30 days, followed by Columbus, Nashville, Denver, and Portland. It’s important to note that all of these cities are different from the last top five cities we posted earlier in the summer.
However, San Francisco and New Orleans continue to show the worst improvement in foot traffic, which has remained true over the last two quarters and is expected to continue.
Overall, recent data shows 80% of all cities across the U.S. are seeing an improvement in street-level foot traffic over the last 30 days — pointing out the obvious... street-level transit is your best option right now. Rideshare, buses, and even traditional billboards are where you'll get maximum exposure in high-profile areas.
At mobilads we wrap rideshare vehicles (Uber, Lyft, DoorDash, Instacart) that drive full-time as the newest and most cost-effective form of OOH transit. Our dynamic, large-format advertising medium is 6x the visual size of a car top and generates 2.5x more reach than traditional bus wraps.
Street-level is the place to be, rideshare is on the rise, and at the center of both of these is mobilads. Reach out to us for info on our current campaigns, and to talk about how we can help you get maximum impressions for minimum spend.
Craig Cook - Chief Executive Officer - craig@mobilads.co