Ocean Outdoor Netherlands, part of the Ocean Outdoor Group, is the market leader in Digital Out of Home (DOOH) advertising. With a national network of more than 300 screens, 20 million people are reached every day. The company invests in the latest technologies, research and data so that it can further expand its position as a high-quality DOOH media operator.
The out-of-home market is in the midst of a digital transition. Locations go from static canvas to digital screen. Where a canvas hangs for a week, an expression lasts a few seconds. As a result, the number of combinations of broadcast moments has become gigantic across the entire network. This allows media agencies and advertisers to make targeted purchases and reach the desired target group at the right time.
At the same time, putting together the right offer is very complex. A good deal gives the customer the desired reach within the target group, at the right time, for the right price. At the same time, it also guarantees effective use of Ocean’s inventory.
Ocean has asked RevenueMindz to explore how revenue management can help them achieve this.
Way of Work
During the preliminary investigation, it was determined in a few weeks whether the environment is suitable for the application of Revenue Management. This concerns matters such as commercial policy, commercial processes and the availability and quality of the right data. Furthermore, it was investigated where adjacent opportunities lay within the commercial domain. A business case was made based on this data. Finally, a demo of the Revenue Management tooling has been built.
The business case for Ocean showed significant potential for additional revenue that would pay for the required investment within 12 months. This gave the green light to continue developing a pilot related to the Revenue Management tooling. At the same time, a Revenue Management policy was drawn up and a digital sales workflow was designed together with the Sales department and implemented as an MVP. Finally, the training of the colleagues and the implementation of the processes and the platform followed.
From a growth and support role, we helped Ocean with the correct application of the policy and the platform. The first effects are clearly visible and lead to new insights for the further development of policy, working methods and platform.
Ocean Outdoor Netherlands and RevenueMindz have opted for an agile working method in which matters are delivered in short cycles and the direction for the follow-up is determined. In this way there is control over costs and results.
The preliminary research was done on the basis of weekly appointments with people with detailed knowledge of commercial policies and systems. An agile kanban approach was chosen at the start of the pilot, in which progress was realized by a small core team consisting of three colleagues from Ocean and two people from RevenueMindz. In addition, there was a small steering group (Management, IT and Sales) that was kept informed and could help with the progress of the project.
• A new pricing strategy has been designed and implemented.
• Pricing is now fact-based. A price in a quotation is objectively generated based on supply, demand and commercial policy.
• The sales process has been standardized and digitized.
• Making a quote now only takes a few minutes, where it could previously take hours to select the right locations for a campaign.
• The turnover of Ocean Outdoor Netherlands has therefore undergone a ‘double digit’ development that is more positive than the most positive scenario in the business case.
• The added tooling is seamlessly integrated into the existing IT infrastructure.
Joost Hultink, Head of Strategy and Revenu Management “I have been involved in this project from the start. I have always believed in the added value of Revenue .”
Daan Krijnen, Head of Innovation “I’m super busy with all kinds of innovations. What I especially appreciate about RevenueMindz is that they try to make life as easy as possible for me. They really think along with me!”
Xavier Tilman, CEO “You notice that these men have the necessary flying hours in large corporate environments. Everything they do is very professional. Very nice to work with.”