February 27, 2024

Media Decoder Blog: As Consumers Tighten Belts, Advertisers Adjust

The economic downturn and high rates of unemployment have forced consumers to spend less, and advertisers have taken notice. Figures from Nielsen, to be released on Monday, show the amount of money that advertisers are spending to bring their message to consumers has increased in certain categories.

For the first half of 2011, according to Nielsen, advertisers spent $53.2 billion on television, radio, newspaper and magazine ads, 5 percent more than the same period in 2010.

The three categories showing the highest increases were automobile insurance, which increased 25 percent from the first half of 2010 to $955 million, from $766 million; bank services, which increased 24 percent to $566 million, from $457 million; and financial investment services, which increased 19 percent to $550 million, from $463 million.

“The theme that I see here is that they are all financially oriented categories,” said Randall Beard, the global head of advertiser solutions for Nielsen. “People are very interested in saving money, getting the best possible deals and making sure their financial situation is as strong as it can be.”

Ads for auto insurance tended to focus on savings and discounts, Mr. Beard said, while ads for bank services highlighted rewards and offers for products, and financial services ads emphasized investment and retirement security.

Advertisers in the auto insurance category are looking to attract new customers, he said. Financial services companies that previously concentrated on advertising to customers with a high net worth now try to attract all customers who are seeking retirement planning products, he said.

Article source: http://feeds.nytimes.com/click.phdo?i=2a5540e50ae19bcaf65f6ab758e3df82

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