Innovation is key to success

[16 July] According to Kantar: “Our Europanel research from the 2008-2011 recession found that winning brands launched 60% more innovations than brands that lost share ‘at the shelf’ over this period. And Kantar BrandZ data shows that the stock price of the top 20 most innovative brands grew 246% after the 2008 economic crisis – almost twice the rate of the S&P 500. As we look to the post-pandemic recovery, the need for innovation has never been more relevant, and resilient organisations don’t stop innovating. Brands that maintain forward momentum and continue to innovate with a view of the longer-term fare better than those that don’t.”

While this generally refers to business planning, operations or the service businesses provide, the same school of thought applies to Out of Home. Our iQ research has shown that brands who are innovative with their campaigns are held in higher regard than those who stick to the status quo. For brands that want to be market leaders, innovation in an OOH campaign can be the little bit extra that sets them apart from rivals.

Kantar’s Consumer Experience (CX+) study investigated the links between brand promise and customer experience, gaining more understanding of decision making. “This cohesion between Brand and CX is not only vital to survive in a post-pandemic world, it also pays off financially.” The research identifies that brands should be giving customers a clear reason to choose them over a rival, understand the customer journey to place emphasis on the right parts, and deliver on those promises.

Zenith also brought clients together to give senior decision makers an opportunity to engage with their peers, sharing knowledge and understanding common problems and successes. Several interesting themes emerged, with ‘a need to lead’ standing out. Many brands have lost their way, not helped by a rapidly changing landscape that no one has prior experience of. Brands that are brave are often remembered and creating something different through innovation could be the opportunity to lead and demonstrate adaptability that many brands seek.

OOH activity that delivers engagement, positive consumer experience, brand awareness, brand loyalty, impact, frequency, reach, social content and PR is all achievable through innovation. From Dynamic campaigns on Digital screens across the province to popup shops, our expert team have a wealth of experience in idea generation to meet a brief, right through to building and managing projects. Visit our YouTube channel for some more inspiration and get in touch to discuss how innovation on OOH could be the right strategy for your brand.