Stake leverages DOOH as part of its rapid growth as DOOH industry predicted to grow to $1.95B

Fintech, Stake, has partnered with Bench to successfully deliver a DOOH campaign resulting in a 219% uplift in app downloads.

DOOH has seen significant growth in Australia over the past few years and is predicted by PWC to grow to $1.95B by 2024.

The Stake DOOH campaign, which ran in January 2021 across NSW, aimed to create brand awareness, drive new customers to Stake’s app and increase engagement with current customers. This was achieved through the sophisticated use of data.

In addition to CBD locations for driving awareness, Bench and Stake used lookalike audiences to identify high propensity locations for customer growth and targeted screens where this audience was most likely to be visiting. Bench’s campaign management software enabled a single view of all digital channels which drove campaign and audience insights whilst driving efficiencies around real time optimisation.

The campaign ran post COVID restrictions, which meant strategic rules were applied to improve efficiencies and run, in line with expected user behaviour. These specific times included when people were outdoors and could see the ads, (a dual strategy around working from home and CBD activity in the mornings, at lunch and in the evenings) and near shopping centres, gyms and petrol stations to align with semi remote working lifestyles. People were geo-targeted and retargeted across digital channels, enabling cross channel messaging.

Bench used Stake’s app-attribution platform partner Branch, to link those that were exposed to their DOOH campaign, and those that downloaded Stake, helping to create a link between a traditional awareness channel and digital performance metrics.

Results:
– App Installs were 219% higher when the DOOH was live compared to pre-campaign.
– 54% install to activation rate – Indicating a highly engaged audience and successful user journey.
– Over 1.1M impressions served across digital screens.
– Over 38,000 anonymous device IDs captured for cross-channel retargeting

Bryan Wilmot, chief marketing officer, Stake, says the new innovations in DOOH are rapidly accelerating its potential to target audiences in a sophisticated way at scale, particularly as consumer activity resumes post-pandemic.

Says Wilmot: “Out of Home is a channel for the ages. It’s one of those cultural mediums which can rapidly scale awareness and build fame simultaneously. However, programmatic DOOH is reshaping its capability from broadcast-only to enable more sophisticated targeting strategies and connected audience approaches. It’s exciting to be experimenting with projects that will take the channel to a new level.”

Esther Carlsen (pictured), general manager at Bench, says the potential and application of DOOH, powered by programmatic solutions, can empower brands to connect with audiences in more exciting and meaningful ways: “As DOOH adoption increases we provide an all-in-one platform for advertisers to plan, target, re-engage audiences across channels, and measure success, helping them to really maximise their media investments. We’re excited to be working alongside Stake, who’s shared passion for innovation has enabled us to try, test and then apply new ways of thinking.”

Stake grew over 500% last year and has recently secured $40 million in funding from Tiger Global and DST Global, with plans to triple its growth this year. Stake has recently appointed Bench to bolster their marketing efforts as they grow locally and internationally in 2021 and beyond.