Online advertising picking up pace
Advertisers are spending more on online channels in New Zealand than ever before, as well as looking at more innovative ways to utilise the medium, according to a report from industry group IAB.
The total online advertising spend in the second quarter of this year was $84.15 million, a 23% increase from the previous quarter and a 19% increase year-on-year.
Donna O’Keeffe, advertising director for APN Online, says the increase matches global trends.
"The significant increase of brand activity we are experiencing in New Zealand is a pointer to a maturing market that is beginning to see beyond the click-through rate as a measure of success.
"Advertisers continue to increase their focus on online technologies and re-aligning business strategies towards more innovative ways of advertising online.”
Kiwibank, for example, recently launched a campaign called Green Ops that utilises YouTube and social media channels.
"In the last quarter we saw a significant increase in the amount of rich media executions,” O’Keeffe continues, "particularly homepage takeovers and video formats, and a steep rise in demand for bespoke solutions and content integration.”
IAB predicts the online advertising spend for 2011 will achieve approximately 20% year-on-year growth.
Image: a screenshot from Kiwibank's Green Ops campaign.