'OOH Advertising Effectiveness Metrics Standardization Alliance' launched by 30 OOH companies in Out-of-Home Advertising Industry in South Korea

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2024-02-06 - 2분 걸림

In a significant move long-awaited by Korean Out-of-Home (OOH) advertising sector, the establishment of the 'OOH Advertising Effectiveness Metrics Standardization Alliance' ('the Alliance') has been announced.

The launching ceremony was attended by Yeo Hyun-ho (first row, fourth from left), head of the Korea Outdoor Advertising Center, and Park Kwang-seop (first row, fourth from left), head of the Address Living Space Division, Ministry of the Interior and Safety.

The Alliance, formed to promote the production and standardization of scientific OOH advertising effectiveness metrics, sees the collaboration of various stakeholders including advertising agencies, media companies, artificial intelligence solution providers, and government agencies related to the OOH advertising sector. The inauguration ceremony took place on the 6th at the Local Finance Institute Building in Gongdeok-dong, Mapo-gu, Seoul.

With participation from 30 OOH companies involved in the production and demand for OOH advertising effectiveness metrics, the Alliance aims to produce key metrics such as foot traffic and viewership (attention rates), and establish mid-to-long-term strategies for constructing a data platform that can be utilized by diverse users such as advertising agencies and media companies.

Despite possessing world-class digital signage technology as the digital signage market rapidly grows, Korean OOH advertising industry has been criticized for lacking objective metrics for measuring advertising effectiveness compared to leading global countries like the United States, United Kingdom, and Australia.

This absence of standardized metrics makes it difficult to prove advertising effectiveness, leading to a decrease in advertiser preference for OOH media compared to other digital media (such as mobile and internet) when selecting advertising channels.

To overcome these difficulties, the Alliance will discuss the development of standardized OOH effectiveness indicators, integration of data from companies producing indicators, establishment of a platform for sharing and utilizing indicator data, and ways to utilize data from companies demanding indicators, centered on the indicator development and standardization subcommittees.

"This alliance is a meaningful first step in that private companies and government-related organizations voluntarily collaborated to create standardized indicators in response to industry voices that there are no scientific and objective effectiveness indicators for outdoor advertising media," said Yeo Hyun-ho, head of the Korea Outdoor Advertising Center.

"We will actively support the results of this alliance so that they can be used to revitalize OOH advertising media, just as broadcast advertising viewership data has been the foundation for the growth of Digital OOH advertising media."

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