OOH Companies Will Have To Work 4x Harder in 2021 compared to 2005
The year 2021 is already here. We've seen how OOH media took a nosedive last year because of the lockdowns and varying lvels of quarantine brought about by COVID-19.
I am hopeful that this year, 2021, will be better. Actually, it can only be better. Rock bottom was last year. So there's no other way to go but up.
However, I did make a post in my Facebook page that said, "Truth to tell, OOH people will have to work 4 times harder in 2021 than they did in 2005."
This is not to say that things are bad as if I were spreading gloom. No, that's not what I am saying. What I'm driving at is that there has to be 4x the effort in 2021 compared to 2005. "Why is that so?", you may ask.
Well, way back in 2005 and even in the years before, all you had to do was confirm the booking of the billboard on the last month of the year, which is December, and you would be on your merry way earning the profits from January to December of the following year. The contract is fixed for one year (unless pre-terminated by client).
This year however, things have changed. Fortunate you if you have year long contracts. As it is right now, the trend is for quarterly or even monthly bookings. This means that the effort for preparing a contract, getting it approved and signed and billing thereafter has to be repeated 4x. Not to mention the fact that more sales calls have to be made.
That is just plain math, my friends. That is from the perspective for the sales agents out in the field. For the owners, it's 8x the effort. If you're watching the bottom line and trying to keep the company up, the tempo is faster.
Overall, 2021 looks brighter. We can do it. We just need to sweat some more.
Mabuhay ang OOH!
-Want to know more about consultancy for OOH related matters? email me at info ( at ) ooh.ph or drop me a line by clicking here.
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