‘Common currency is central to business growth’
Praveen Vadhera, CEO of IOAA, charts the path to a prosperous future for outdoor advertising with adoption of a common currency
At the South India Talks OOH Conference held in Chennai on February 2, Praveen Vadhera, CEO of the Indian Outdoor Advertising Association (IOAA), provided insights into the transformative initiatives the industry body is spearheading to reshape the outdoor advertising landscape.
Addressing the audience, Praveen delved into the historical significance of outdoor advertising in India, highlighting that the world’s oldest outdoor advertising originated in the country. Transitioning to the future, he invoked a quote about the unwritten nature of one’s destiny, correlating it to the potential trajectory of the industry. He expressed optimism that by shaping the present effectively, the future of outdoor advertising could be more prosperous.
Key among IOAA’s initiatives is the development of an OOH Measurement System, referred to as Roadstar. Collaborating with the Advertising Agencies Association of India (AAAI) and major out-of-home agencies, IOAA aims to establish this system as the common currency for the industry.
Praveen provided an overview of Roadstar, highlighting its coverage of 800 markets, 40,000 media assets, and a database with information on 200,000 campaigns. Leveraging mobility data, traffic modelling, and audience profiling, the system analyses data on a 3-day basis, encompassing a vast amount of mobile bins across the country. The data provides insights into unique reach, impressions, frequency, and audience profiling, making it comparable to data outputs of other mediums.
During the Q&A session, Praveen addressed concerns about ad visibility and the 15-meter bubble, explaining the statistical modelling behind it. He emphasised ongoing efforts to enhance accuracy, including the incorporation of Wi-Fi monitors to validate mobility data.
Responding to a client’s query about proposed CPM rates, Praveen acknowledged the need to build credibility and transparency. He emphasised the importance of a unified operational model supported by all agencies and media owners to instill confidence in clients.
Praveen concluded his presentation by expressing hope that by the year-end IOAA would offer a robust model that would elevate OOH industry and enhance credibility, making it challenging for clients to question the accuracy of data.