Vistar Media’s latest trends analysis for 2024 has shown that June played an important role in shaping annual advertising strategies in Aotearoa.
As businesses closed their books for the financial year, June witnessed a 59% increase in advertising spend, particularly in the programmatic digital out-of-home (DOOH) sector, compared to the average monthly spend from January to May.
Overall, June accounted for 24% of total advertising spend in the first half of 2024.
The Government and Education, Retail and Consumer Goods, and Automotive sectors saw the highest uplift during the end of financial year (EOFY) period.
Vistar Media New Zealand Sales and Partnership Director, Sandra Scott, says the notable surge in spending, particularly in June, is largely due to the rush to utilise annual budgets.
“Many organisations adhere to strict ‘use it or lose it’ policies, resulting in a flurry of activity to ensure every dollar is effectively spent before the fiscal year ends.”
June’s pivotal role
Scott adds this year’s EOFY advertising spend figures are particularly revealing, highlighting the pivotal role June plays in annual budgeting strategies.
“The Government and Education sectors showed an impressive 115% quarterly growth, with 84% of their total H1 spend concentrated in June, reflecting the urgency to use remaining budgets.
“EOFY sales also play a significant role. Sectors such as automotive and retail experience a major push to clear stock and boost sales, naturally leading to a significant increase in advertising spend.”
Scott says programmatic digital out-of-home (pDOOH) is particularly well-suited for this period, offering the flexibility and precision needed to target specific demographics effectively, ensuring that ad spend is maximised for optimal returns.
“pDOOH’s ability to adjust campaigns in real-time based on performance data is a game-changer. It allows marketers to be agile and responsive, making quick adjustments to improve impact. Additionally, the scalability of pDOOH supports both localised campaigns and extensive national rollouts, providing a versatile solution for businesses aiming to maximise their EOFY advertising budgets.”
The post Vistar Media analysis reveals June’s important role in annual budgets appeared first on stoppress.co.nz.
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