Magnetic takes on New Zealand’s $1.89B advertising waste

AUCKLAND, Today: In today’s ever-expanding world of advertising and media, brands vie for consumer attention. Magnetic, a new data solutions provider, aims to tackle New Zealand’s $ 1.89 billion advertising waste, helping marketers enhance performance and ROI.

Launched by Waitapu Group, Auckland-based Magnetic offers advanced marketing data and analytics solutions. Using computer vision and AI, it helps refine ad ideas, messaging, and visuals to resonate better with audiences.

CEO Phil Townend, with over 25 years of advertising experience, leads Magnetic. He sees the current landscape ripe for change, with ad-waste rampant. Magnetic offers AI-driven solutions to augment marketing communications effectively.

Mr. Townend adds: “The time is right! There’s more ad-waste than there’s ever been. Marketers are being tasked to deliver greater value for the same budget, or the same results for less. From a technology perspective, we’re at an inflection point, where AI-driven biometric media and creative analysis tools exist to augment and inform marketing communications beyond proxy or hygiene metrics such as viewability and view through rate. Magnetic offers a powerful, new solution.”

“From a technology perspective, we’re at an inflection point … Magnetic offers a powerful, new solution.”

Research from Amplified Intelligence and PepsiCo reveals significant ad-waste, even among major brands. Magnetic aims to address this issue in New Zealand, where wasted ad-spend reaches almost $ 2 billion annually.

Waitapu Group’s Managing Director, Greg Partington, emphasizes the importance of data-driven decisions in today’s marketing landscape. Magnetic aims to bridge the gap between creativity and media to drive performance.

“Consumer attention is fleeting,” says Phil Townend. “We must ask ourselves, is the creative work engaging and persuasive enough? Does it entertain and inspire? And does it map effectively to the media formats in which it’s intended to run? We created Magnetic to answer these questions and give brands more certainty that the dollars invested in creative or media are actually delivering an optimal return.”

Moving forward, Magnetic will partner with local brands to improve advertising performance and reduce wastage, ensuring that every dollar spent delivers maximum impact.