Real Estate Industry Falls Behind: Representing Only 2.68% if Online Advertisers
Businesses in Healthcare, IT and Education have led the trend in online advertising in the last 12 months, according to new research by SavvySME.
Health and Wellbeing businesses had the highest propensity for online advertising, accounting for 10.42% of advertised businesses on the platform, despite representing only 4.7% of all businesses in Australia.
Similarly, 3.11% of advertised businesses were in the Information and Communication Technology industry, while representing only 0.9% of businesses.
Another strong leader was the Education and Training industry, with businesses accounting for 3.04% of those advertised despite representing 1.2% of all businesses in Australia.
PwC Australia's Entertainment & Media Outlook Report 2021-2025 discusses how online advertising has been a strong focus for businesses even through the pandemic.
"Whilst growth in internet advertising in 2020 was relatively suppressed by the impact of the pandemic, the sector outperformed the total Australian advertising market. The internet advertising industry recorded growth of 3.3 percent in 2020, reaching A$9.3 billion."
Paige Arnof-Fenn, SavvySME Top Influencer in Marketing discusses how the COVID-19 pandemic has steered budget allocation online (https://www.savvysme.com.au/
"In marketing, everything has migrated online. Lead generation budgets are being redirected to social media and website/SEO improvements. Many marketing dollars previously allocated to in-person events and direct marketing efforts are being redirected now due to the pandemic."
The Construction industry accounted for the largest percentage of advertising on the platform, with 14.47% of businesses advertised in the industry. This however was slightly lower than expected as Construction businesses account for 16.5% of businesses in Australia.
The least advertised industries compared to market share were Rental, hiring and real estate, Finance and Agriculture.
Despite representing 10.6%, 7.7% and 9.3% of all businesses respectively, those industries accounted for only 2.68%, 2.03% and 0.8% of businesses advertising on the online platform.
Paige Arnof-Fenn explains why certain industries such as Real Estate and Finance may be less prone to advertising online (https://www.savvysme.com.au/
"It comes down to where the best place is to find your customers. Traditional marketing including, print, direct mail, etc. can be very effective when trying to reach an audience that tends to skew older, less tech savvy, or where lots of information needs to be processed and considered to make a buying decision."
See industry breakdown on the web report.
SavvySME Small Business Advertising Report 2021
Australian Small Business Key Statistics and Analysis Report