Top 3 DOOH strategies for financial marketers to drive customer acquisition
As we navigate the era of information overload, financial services marketers face a specific challenge: adhering to strict privacy regulations and driving measurable results, all while breaking through a cluttered media landscape
Fortunately, the emerging channel of digital out-of-home (DOOH) provides financial services marketers with proven strategies for success. Digital screens in the physical world deliver flashy, eye-catching creative that is relevant across multiple touch points throughout a consumer’s daily journey. On top of that, advanced digital capabilities, privacy-safe data tactics, measurement solutions and mobile extensions offer marketers a unique opportunity to leverage this programmatic channel in an impactful, measurable way.
Here are three DOOH strategies every financial services marketer should keep top-of-mind when developing media and creative campaigns:
Use physical location & context for privacy-safe targeting
Behavior in the physical world can help paint a picture of consumers’ interests, habits, characteristics and more. Anonymized GPS location data enables marketers to better understand how consumers move throughout the day and where they spend their time. This type of analysis - sometimes called “audience affinity” - helps financial services brands look at the habitual patterns, finding the specific times and areas a desired audience has the highest propensity to be. Programmatic technology can identify all of the DOOH screens that fall into these locations and times. Brands can activate media precisely to reach their audiences, in a completely privacy-safe, compliant manner.
Contextual targeting is another great way to deliver relevant messages to audience groups without relying on external datasets. Thanks to the variety of screens in the physical world, DOOH offers media in many locations that cater to specific audience groups. From grocery stores to salons to gas stations to doctors’ offices, DOOH venues themselves can indicate certain aspects of the individuals likely to be in that location, allowing brands to hone their messaging.
Highlight offers during relevant payment activities & moments
Financial brands can leverage tactics like contextual and point-of-interest (POI) targeting to engage in moments when consumers are likely to be thinking about payment, credit card benefits, banking requirements and more.
Today there are screens available in many locations where consumers might be engaging in activities related to payment, or to potential perks a credit card company might offer. Tap into these moments in the grocery checkout aisle or at the gas pump, airport or mall to highlight cash-back rewards or travel and dining point perks.
POI targeting - activating media within a certain radius of specific locations - offers another way to surround key locations with relevant messages. An insurance company might consider surrounding car dealerships with auto-specific packages, or a mobile banking app could conquest the retail bank locations of a competitor.
Leveraging programmatic DOOH allows marketers to reach consumers when they’re thinking about your services through thousands of unique venue types around the world.
Measure the full marketing funnel, from offer awareness to sign up intent
Financial marketers need campaign measurement solutions that deliver real-time, actionable insights into the impact of their activations. They need to understand whether their strategically placed advertisement generated awareness, increased sign up or purchase intent, or even impacted consumer sentiment compared to competitors to make sure their efforts are resonating with the right audience.
Fortunately, these insights are achievable through advanced DOOH measurement capabilities, from measuring brand awareness, consideration and purchase intent of a new credit card, for example, to evaluating an actual lift in foot traffic to your financial institutions and stores. The programmatic DOOH space has unlocked a new world of actionable insights for financial marketers that weren’t originally as easy to measure.
Summary: more insights, personalization & measurement = recipe for success
DOOH presents financial advertisers with a unique opportunity – the ability to better understand who their consumers are, and thus, where they’re most likely to be, equipping advertisers with the tools necessary to target them with personalized, relevant messaging to ensure their campaign is actually resonating. On top of that, an advanced suite of measurement solutions allows brands to measure the impact of DOOH advertising on both upper funnel and lower funnel KPIs, providing real-time insights that marketers can use to inform future strategies.
To dive deeper into the industry’s advanced data capabilities, Vistar Media has released a new comprehensive ebook on the basics of all things DOOH for financial services marketers.