What has happened?
Boomtown – a collaboration between major regional media owners across TV, radio and publishers – recently launched to raise awareness of the importance of marketing in regional Australia.
Their findings focused on the growing regional population of 8.8 million people with growth outpacing the metro markets. Contrary to common perceptions their demographic and behavioural profile across shopping and travel as well as their disposable income is higher than their metro counterpart. However, when it comes to brands investing in regional Australia only 10% of national media budget is being spent regionally compared to 36% of the population that live in regional Australian.
The Media Store Take
There has been a long trend of underspending in regional markets. An analysis of SMI share of spend vs Audience Share across Metro and Regional markets across the last 10 years highlights that spend in regional markets has been consistently under performing by 58% of its full audience potential. Furthermore, regional TV spend has decreased by 4% YOY, while metro TV spend has remained the same YOY. Initiatives such as Boomtown are vital for our industry moving forward to continue the great work that the Regional TV Marketing Bureau once provided, now delivering a co-ordinated effort across Regional Radio, Press & TV
Deeper insights on regional consumers combined with analysis such as BDI/CDI (Brand Development Index and Category Development Index) for brands will unlock unrealised potential in maximising marketing and media budgets to capitalise on the lucrative nuances of the varied regional landscape.