Innovates with IHS Markit to Amp Auto Marketing as New Study Shows Travelers Prepping for More Road Trips Post-COVID
NEW YORK, July 27, 2020 /PRNewswire/ -- Clear Channel Outdoor (CCO) (NYSE: CCO) today announced another industry first as its CCO RADAR suite of solutions now delivers automotive dealers verifiable results that their printed and digital out-of-home (OOH) advertising campaigns drive sales. This technology comes as the wheels begin turning again at auto manufacturers and dealers nationwide, and, as a just released study* shows 62 percent of vacationers plan to travel by car this summer.
Partnering with IHS Markit (NYSE: INFO), a world leader in critical information, analytics and solutions, CCO evolved its attribution tool, RADARProof® so auto dealers can be in the driver's seat during the rebound, and beyond, to see how their OOH ad campaigns deliver sales. This RADARProof® innovation is the nation's first ad tech solution to make the connection between vehicle sales and consumer exposure to OOH advertising.
As states begin reopening and consumers take to the road once again, RADARProof® can be the key that accelerates the auto industry's rebound. According to Autoweek, due to coronavirus fears, more people are expected to purchase their own cars and rely less on other transportation alternatives, setting the stage for an increasingly competitive market across the auto sector.
The new RADARProof® attribution capability, available in all CCO markets nationwide, allows auto dealers to use OOH in a measurable way to drive sales for both new and pre-owned vehicles. In a recent test study involving a major automotive brand in four markets, CCO's RADARProof® integrated Polk Demand Signals by IHS Markit, built from complete new and used vehicle transactions in the U.S.
The study compared samples of consumers exposed and not exposed to the OOH advertising, which produced the following results:
The campaign drove an overall 169% lift in visitation to the advertised auto brand dealerships
And, based on the use of Polk Demand Signals the campaign resulted in:
The advertised brand achieved a 15% increase in new vehicle registrations and
The advertised car model achieved a 5% increase in new vehicle registrations when comparing the exposed and unexposed consumer groups.
"RADARProof®'s new integration of Polk Demand Signals provides a shot of 21st century horsepower to auto marketing at a pivotal time as our nation begins its economic recovery from COVID," said Dan Levi, EVP & CMO, CCO. "With the automotive industry starting to rebound across the country, RADAR's suite of ad solutions can give auto advertisers the boost they need to gain sales traction. For the first time, we can reliably demonstrate to auto dealers the real value and impact of their OOH campaigns via both digital OOH and traditional, printed billboards -- not just in terms awareness and visits to auto dealers, but in driving actual sales. That's real ROI for any auto advertiser."
"This program demonstrates a significant step forward for out-of-home advertising, adding a dynamic element to a historically static medium," said Joe Kyriakoza, vice president and general manager, Automotive Marketing Services at IHS Markit. "Measurement utilizing Polk Demand Signals helps the industry move away from historic proxies to evaluating actual sales activity."
CCO's RADARProof® offers a variety of attribution solutions to help advertisers evaluate OOH impact on a range of unique marketing goals, including retail visitation, brand affinity, TV tune in, and mobile app downloads. Working with best-in-class partners, RADARProof® leverages aggregated and anonymized mobile location data to understand how consumer attitudes and behaviors are influenced after seeing an OOH ad. Actions of exposed and unexposed audiences are compared to determine a campaign's influence and effectiveness.
To learn more about RADARProof® and view this and other case studies, visit https://clearchanneloutdoor.com/radar.
*study commissioned by the OAAA, and conducted by OnDevice Research, from May 22 through June 1, consisted of 1,000 online survey respondents, ages 18+, matched to national representation for age and gender.
About Clear Channel Outdoor Holdings, Inc.
Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) is one of the world's largest outdoor advertising companies with a diverse portfolio of approximately 570,000 print and digital displays in 32 countries across Asia, Europe, Latin America and North America, reaching millions of people monthly. A growing digital platform includes more than 16,000 digital displays in international markets and more than 1,900 digital displays (excluding airports), including more than 1,400 digital billboards, in the U.S.
Comprised of two business divisions – Clear Channel Outdoor Americas (CCOA), the U.S. and Caribbean business division, and Clear Channel International (CCI), covering markets in Asia, Europe and Latin America – CCO employs approximately 5,900 people globally. More information is available at investor.clearchannel.com, clearchanneloutdoor.com and clearchannelinternational.com.
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SOURCE Clear Channel Outdoor