Recently, I presented to a group of advertising professionals. In my presentation, I incorporated some slides from the Outdoor Advertising Association of America’s agency presentation. After the presentation, one of the outdoor veterans in the room came up to me and said that he had been in the OOH industry so long that he was familiar with just about everything in the presentation. But, what really got him was the slide entitled ‘€œThe Value of Time.’€
A few years back, The Henley Center conducted a study on time. The study revealed that more than any other commodity (including money) time is the one resource we wish we had more of in our busy lives. We all find ways to spend time, invest time, waste time, but the one thing we cannot do is create more time. We even fall prey to the term ‘€œTime Management’€’€”pretending that time is manageable. In reality, we are only managing our activities inside of the time windows that we are given. We are stuck with our 24 hours of time’€”that’s it. The only thing we have control over is how we use our 24 hours. Reinforcing the findings–time is our most valuable commodity.
In the movie In Time (2011), instead of using a monetary currency, they use time. For instance, instead of paying $20,000 to buy a boat, it takes two months of your life. How would you feel if you had to pay for food, rent, and travel with time instead of money?
In MediaPost’s Engage: Affluent; Even Affluent Customers Can’t Buy Time (Feb. 22, 2012); Layton Han discusses the value that the affluent put on time. His article is referring mainly to digital marketing and references an IAB study that determined affluent customers do not spend as much time with TV and radio.
He suggests three ways your message can reach the affluent:
- Customize your messaging
- Engage with purpose
- Become time relevant
Isn’t this how OOH reaches the target customer? Quickly engaging the customer with relevant messages?
Tying It All Together
Now, back to the relevancy of my slide in the presentation’€¦
Outdoor is the only medium that doesn’t require you to sit down and watch TV, read a magazine or newspaper, or listen to commercials on a radio station. In other words, OOH does not require anyone’s time. It reaches them while they are traveling, driving, walking, waiting and shopping. Outdoor doesn’t ask for their time. We can customize, engage and become relevant with our creative, technology and messages.
Remember, you can’t get your time back once you invest it, so use it wisely.
Since ‘€œTime is Money’€¦’€
Let DOmedia help you save time by giving you search results from across the country for all types of OOH media with the click of a few boxes. Send out RFPs to several companies at once, or map the inventory results easily with the map button. Upload a media kit from the company or product profiles immediately, rather than calling or emailing to get it.=
If you are a seller, let us upload your inventory quickly through our bulk upload tool. You will be able to map your inventory and easily provide photo sheets for agencies. You can call attention though the message thread quickly by ‘€œraising the red flag’€ to the buyer. You can manage your RFPs through the dashboard to see what the status is of each of your proposals.
Source:
http://www.mediapost.com/publications/article/168229/even-affluent-customers-cant-buy-time.html, ‘€œHave enough Time to do what you want’€¦or is there?’€, Dan Kennedy (3/08/12)
