‘Need a common research currency’
Haresh Nayak MD, Posterscope India Group
Measuring the medium
Yes OOH can be measured and has been done successfully in many countries; in India nobody has understood the efficacy of the OOH medium. The understanding of the need for a brand is missing in the platform. The lack of comfort with the investment is the reason for the absence in trust. Hence, there needs to be more investment in research and then we can have our own research. It would help us in understanding the effect of outdoor marketing, customer behaviour, ROI, etc.
Challenges in OOH
OOH industry in India is growing at a stable rate; but we believe that it can grow exponentially if we are able to get a few things right. We majorly lack good research and an accountability mechanism in India, though lots of agencies have their own research but the industry needs a common research currency. Also, good trade practices will go a long way towards achieving things like quality benchmarking, standardization, trade licensing etc. Mandated and standardized processes only will help the industry grow further.
Credit issues faced by media owners
In the absence of a formal credit policy, every company is facing a liquidity problem and is forced to part with huge discounts and credit notes each year to recover dues. I strongly believe that 99 per cent of the clients pay on time, if the paperwork and processes at the agency and media owners are perfect. Clients can sometimes get into a real cash crunch but that happens rarely. It is matter of authority.
Digital OOH has been on the cusp of changing the entire OOH advertising industry. Many believe that digital OOH is digital screens, but that’s not the case. We believe any use of technology which involves visuals and engagement is digital OOH. Posterscope has invested heavily in understanding the technology much better than many in the country and have executed work which highlights digital OOH and the future of digital OOH.