Creating a culture club builds ownership of teamwork
Workplace cultures are the sum of everyone’s beliefs, behaviours, attitudes and skills. This means that no single person is responsible for culture, it belongs to the team.
The industry’s latest report shows the value of digital advertising has grown by a smaller margin over the last financial year compared to the previous one
Australian brands and agencies spent $9 billion on digital advertising in the 2019 financial year, a jump of 7.1 per cent from the previous year, according to the latest Interactive Advertising Bureau (IAB) Online Advertising Expenditure Report.
CEO, IAB Australia, Gai Le Roy, said in a statement it’s steady digital growth within a challenging advertising environment.
“It’s clear small and medium business investment in digital is growing at a higher rate than traditionally larger advertisers. There are also some key category shifts," she said. "Automotive is again the largest advertiser category for display. But for the first time it is also the largest video advertising category - taking over from FMCG as their spend softens.”
The report, now in its 12th year and prepared by PwC, found the growth in 2019 of 7.1 per cent was smaller than in 2018, when it increased by 11 per cent. According to the IAB, this reflected the downturn in Australia’s overall advertising market. Search and directories showed the strongest growth, with a rise of 8 per cent in the 12 months to 30 June 2019, while general display and classifieds grew by 7.4 per cent and 4.2 per cent respectively.
“Australian businesses are operating in a challenging low growth environment. Investment in marketing is an essential tool for businesses to grow their available market to achieve growth,” said chief economist, PwC Australia, Jeremy Thorpe, in a statement.
In terms of the breakdown of digital advertising spend, search and directories accounts for 45 per cent of the total spend of $9 billion and general display represents 45 per cent and classifieds 18 per cent.
The report also shows the growing popularity of mobile, with total mobile advertising market, including search and display, increasing by 28.4 per cent to $4.6 billion over the 2019 financial year. It predicts the rollout of 5G mobile network, with faster data transfer speeds, will see continuing growth in this segment.
Total video advertising is at $1.5 billion, a rise from the previous year and is the fastest growing format of the $3.4 billion display market and now accounts for 44 per cent of total display.
The IAB report also shows total online spending is up 5 per cent year-on-year to reach $2.3 billion, according to Q2 2019 results. Search and directories grew by 10.3 per cent compared to the same quarter in 2018 to $1.16 billion, display grew by 4.3 per cent and video also rose by 16.7 per cent, while classifieds was down by 5.9 per cent, which the report attributes to declining consumer confidence.
Follow CMO on Twitter: @CMOAustralia, take part in the CMO conversation on LinkedIn: CMO ANZ, follow our regular updates via CMO Australia's Linkedin company page, or join us on Facebook: https://www.facebook.com/CMOAustralia.
In this latest episode of our conversations over a cuppa with CMO, we catch up with the delightful Pip Arthur, Microsoft Australia's chief marketing officer and communications director, to talk about thinking differently, delivering on B2B connection in the crisis, brand purpose and marketing transformation.
Workplace cultures are the sum of everyone’s beliefs, behaviours, attitudes and skills. This means that no single person is responsible for culture, it belongs to the team.
In 2020, brands did something they’d never done before: They spoke up about race.
‘Business as unusual’ is a term my organisation has adopted to describe the professional aftermath of COVID-19 and the rest of the tragic events this year. Social distancing, perspex screens at counters and masks in all manner of situations have introduced us to a world we were never familiar with. But, as we keep being reminded, this is the new normal. This is the world we created. Yet we also have the opportunity to create something else.
Did anyone proofread this document before it was published?
Beau Ushay
CMO Momentum 2020: How to embrace agile marketing
he decision to limit the initial version of the code to two US companies is discriminatory and will inevitably give an unfair advantage t...
Azeem Sohail
Google hits out at ACCC draft code of conduct for news media negotiations
You’re a warrior woman from way back. Just let the muscle memory take over!
Hannah Sturrock
Why fear trumps marketing theory - Marketing edge - CMO Australia
What an inspiring piece of writing, Hannah, thank you so much for sharing! All right, team jersey out of the locker, brains on, eye of th...
Myriam Conrie
Why fear trumps marketing theory - Marketing edge - CMO Australia
Thanks for the post
Ashirwad Towers
How a brand facelift and content strategy turned real estate software, Rockend, around