Ad Spotlight: South Korea

South KoreaSouth Korea consists of more than quaint fishing villages. It’s Asia’s third largest economy and has a population of 48 million people. Those 48 million people are causing advertisers to spend a significant amount on advertising, specifically for mobile.

Studies predict that there will be a digital ad investment of over $2.94 billion in South Korea for 2016. That will equal 28.4% of all paid media spending globally.

Below, we will compare out-of-home (OOH) ad spending with mobile ad spending and discuss how they are each holding their own:

Out-of-Home Ad Spending

Media Spending in South KoreaDespite the brief slip in ad spending in 2015, South Korea has remained strong in transit advertising and is predicted to grow throughout 2016.

According to the Korea Broadcast Advertising Corporation, transit advertising is expected to increase by 3.1%, equaling an estimated $420.8 million in ad spend. Though the growth may be slow, it is expected to remain steady.

However, it is vital to keep in mind that digital ad spending, particularly mobile, is surpassing most OOH ad spending, as well as a variety of other mediums, throughout the world. South Korea is no exception.

Mobile Ad Spending

As predicted, mobile display ad spending is still on the rise. Researchad believes advertisers in South Korea will spend more on in-app ads than regular mobile display, with a predicted spend of $1.1 trillion on in-app mobile display.

Even more impressive is that eMarketer expects ad spending to rise even further, with a predicted 30% increase. Even though search ad spending is growing faster than display, that difference will disappear in years to come, with search ad spending in the lead. Ad spending growth is expected to remain in the double digits until 2019. 

What’s Next?

Multimedia is skilled at providing a wide variety of global advertising for newspapers, out-of-home advertisements and a variety of digital ads. We provide exclusive access to media placement for the biggest channels in over 150 global media outlets.

To learn more about how Multimedia, Inc. can help your company advertise in South Korean markets, contact us today.

Images:

Media Ad Spending in South Korea

South Korea

Sources:

Emarketer.com

Understanding Modern Out-of-Home Advertising

The Out-of-Home (OOH) industry is constantly evolving as consumers are spending more time on-the-go. Currently, the average person is exposed to at least 14 minutes of OOH media per week and this number is expected to increase to 20 minutes by 2017.

OOH ads increase purchasing behavior and create captive audiences, as consumers are 41 percent more receptive to ads in public places than at home. Below are two of the biggest, modern formats in OOH advertising to consider.

Digitalizing Displays

digital-oohWith everything going digital, it was inevitable that the traditional method of OOH advertising would experiment in developing a more modern appeal. Digital Out-of-Home (DOOH) ads have transformed the industry by incorporating the latest technology to exhibit engaging displays, vibrant screens, interactive experiences and more.

Indoor digital ads in venues like malls, airports and restaurants are often the most effective digital campaigns as consumers are either in a waiting mindset that allows for distractions, or they are open to browsing for items to purchase. Some of the most successful uses of DOOH ads include:

  • Mall kiosks with changing displays
  • Gas pumps with screens offering specials
  • Portable digital displays, like charging stations

DOOH ads also allow for more flexibility than stationary OOH campaigns since they can adapt to suit their environment. The technology behind DOOH makes it easy to alter a campaign’s targeting and messaging to fit to peak consumer traffic times.

Mobile Geotargeting

One of the best ways for a company to connect with a consumer on-the-go is to incorporate the device that never leaves their side into marketing initiatives. The current obsession with smartphones has only enhanced the effectiveness of OOH ads, with more than 40 percent of consumers having looked up information on their phones immediately after seeing an OOH ad.

mobile-ooh-adsThrough geofencing technology, a location-based targeting ability that allows advertisers to define a virtual perimeter around a location, companies can send custom offers and messages to consumers’ mobile phones when they are within a certain distance of their store.

For example, if a consumer is near his favorite retailer, the business can send him coupons or messages that will entice him to visit. Certain apps will also send popup notifications to mobile phones when users who opt in to messaging are near their locations. These mobile notifications eliminate the “out of sight, out of mind” concept and put brands right in front of consumers when they are most likely to buy.

Sixty-three percent of shoppers say they would be more likely to make a purchase if they received a mobile coupon while shopping, making geofencing one of the top targeting tools to use in your campaigns.

From customized street furniture to interactive displays, the ability to captivate new audiences with OOH advertising has become limitless. When developing your campaign, remember that creativity is king and mobile-friendliness is expected in order for high engagement.

For information about the OOH advertising opportunities in bustling malls and airports we can help you take advantage of, contact us today.

Data Sources:

iab

Image Sources:

Boris Dzhingarov via photopin cc

Garry Knght via photopin cc