When you visit any website, it may store or retrieve information on your browser, mostly in the form of cookies. This information might be about you, your preferences, or your device and is mostly used to make the site work as you expect it to. The information does not usually directly identify you, but it can give you a more personalized web experience. Because we respect your right to privacy, you can choose not to allow some types of cookies. Click on the different category headings to find out more and change our default settings. However, blocking some types of cookies may impact your experience of the site and the services we are able to offer.
Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.
Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.
These last couple of years have proven to be a hurdle for the OOH (Out-of-Home) media industry. Due to the pandemic and global lockdowns, OOH was among the hardest hit advertising channels as advertisers paused or canceled campaigns.
Now that the crisis is being managed and lockdowns have been eased, the OOH industry has seen progressive growth with the global market expected to reach almost a quarter of a billion USD by 2024.
OOH inventory is known for its diversity of formats and venues. These billboards and screens can come in different forms and sizes, from big iconic sites in the heart of a city to the smaller tablet screens found in rideshares. These screens can be sold individually or bundled up as a package.
Owning many screens using platforms that connect to multiple Demand-Side Platforms (DSPs) and marketplaces can make it difficult for you to identify which sales channel brings you the most revenue.
Here’s where a Revenue Management System, or in short RMS, comes into play. It is a software solution that enables you to effectively and efficiently carry out tedious tasks revolving around managing revenue, providing numerous revenue management software benefits. Not all OOH media owners have the luxury of time to manually run through each revenue stream their business is tied to, to analyze and determine which areas in their business require attention.
A perfect RMS for OOH business owners should be able to connect across various sales channels like direct buying with brands, automated and programmatic media buys, online screen bookings and more.
As a media owner, an RMS should assist you with inventory availability optimization, bookings and sales workflow management, inventory and package management, invoice generation and so on. Allowing your business to run smoothly, like the well-oiled machine you want it to be.
Subscribing to an RMS should help you manage your OOH business effectively while enabling you to maximize revenue and profitability. Giving you a clear picture of which investments of yours are working and which ones require changes.
Find out more about LMX’s Revenue Management Suite to help you manage your business efficiently and unlock the full benefits of revenue management today!
Want to attract more advertisers to your OOH inventory? Discover LMX.