Out-of-home (OOH) advertising is the only traditional media that’s still showing growth, but some advertisers are holding back, because the process of buying billboards and transit ads is like wrangling cats.
To try and get more advertisers on board, AdQuick, a startup backed by Reddit co-founder Alexis Ohanian, is creating an online marketplace for buying and selling outdoor inventory. Starting Monday, the Los Angeles-based company is making its OOH planning and optimization technology, called Campaign Genius, available as a stand-alone product.
The digital out-of-home market is hot. Netflix is buying billboard displays and AdQuick competitors like Broadsign are getting acquisitive.“Outdoor advertising has always been an important element of the marketing mix, but it required a lot of time and dealing with multiple vendors over calls and emails to execute a campaign,” said Ohanian, now a managing partner at early-stage VC firm Initialized Capital and a member of AdQuick’s board.
AdQuick doesn’t own out-of-home inventory, but rather aggregates it at scale through partnerships with billboard suppliers across the country. Brands indicate their KPIs, timing, budget, points of interest and the demographics of the ideal neighborhood they’re looking to target, and Campaign Genius finds look-alike audiences in the most affordable markets based on those constraints. Advertisers can also place buys through the platform.