How Much?! – Talon Benchmarks show the impact of using monetary offers in OOH campaigns
By Lucy Baumgartner, Effectiveness Manager.
There’s no avoiding the news on the UK cost-of-living crisis. Whilst consumer confidence has risen from an all-time low point in 2022, still only 30% of the UK feel confident that their finances will be ok, with 66% feeling concerned with keeping up with the cost of living. So how should brands be adjusting their marketing strategies to support customers through the current economic situation?
One simple way is by using monetary offers and deals within campaigns. Promotional messaging that taps into the economic context we are living through can demonstrate a brand’s empathy in a truly authentic way. Industry research has shown that delivering contextual messages and content that explicitly calls out a relevant moment in time can deliver an average increase in brand response of +32%. Failing to engage in the conversation risks brands appearing tone deaf and isolating themselves from consumers.
A much more customer-focused approach is particularly pertinent in the world of Out of Home (OOH). As a low dwell time media channel, it’s important to utilise high impact messaging to effectively grab consumer attention and drive engagement levels.
Benchmark analysis of Talon OOH campaigns has revealed that the inclusion of monetary offers and deals has significant impacts on brand metrics, particularly lower funnel. Comparing creatives with and without monetary offers, those with deals see 4X stronger levels of brand preference, 2.3X stronger levels of consideration and 1.3X stronger levels of purchase intent.
These positive trends across brand metrics are further reflected in visual engagement shown in creative testing, headlines that include monetary deals can deliver up to +28% stronger levels of fixation.
This strong engagement and fixation on promotions and deals means the messaging resonates with consumers, with some even able to actively recall the figures included within deals and promotions:
And for those marketers concerned that deals and offers could devalue their brand, analysis shows that the inclusion of promotional messaging actually drives perceptions of brands as high quality by 1.8X, brand trust by 1.3X and as a brand for me by 2X.
With price and value remaining at the forefront of consumers priorities, it’s critical for marketing strategies to tap into current consumer sentiments. Ultimately, delivering highly relevant promotional messaging across OOH will result in stronger relationships with consumers and long-term impacts for brands.