Advertising mediums, and particularly the print platforms, are going to have to be far more competitive on price and innovation if they are to retain real estate clients, according to Nicky Adams, MD of Cape-based advertising agency Inspiration.
Adams, who was reacting to Jawitz Properties, Rawson Properties and the ERA real estate group’s recent television advertising campaigns, believes the electronic media and emphatically television with its growing myriad of channels is well primed to grab further market share in above the line real estate annual advertising spend (adspend), which attracted an investment of R20 422 012 for the first five months of this year ending May 31.
Total adspend for 2007 was R40 114 426.
Quoting industry AC Nielsen AdEx “share of voice” figures this week Adams pointed out that electronic adspend had widened the gap in attracting support at the expense of print media. Newspaper advertising in the first five months of the year accounted for 27,2 percent of total adspend compared to 31,2 percent for 2007; 35,1 percent for 2006 and 38,5 percent for 2005.
The electronic media, including television and radio, by comparison, reflected a definite growth path. The medium accounted for 36,6 percent of all above-the-line advertising in the first five months of this year; 33,6 percent in 2007; 33,3 percent in 2006 and 30,4 percent in 2005.
Magazines, as a advertising platform, have marginally lost ground in the past three years to stand at 17,4 percent of total advertising for the first five months. This was a substantial drop from its high of 24,7 percent market share in 2005.
While not the first South African real estate group to focus on television promotion, Adams believed that RE/MAX had highlighted the importance of the electronic medium through its apparent successful extended television advertising campaign, anchored around outstanding performances in various events and tournaments, which had won both the attention of the consumer and estate agent in being attracted to the brand.
Adams said that RE/MAX’s support of the Super 14 competition had proved to be a particularly strong platform achieving high reach and penetration across various audiences, testament to the strength rugby currently offers brand advertising, particularly within the pay television market.
RE/MAX was also the biggest spender in above-the-line advertising for the first five months of this year, accounting for 33,1 percent of all real estate advertising, followed by Pam Golding Properties (22,6 percent), Wakefields (19,3 percent), Seeff (10,5 percent), Jawitz (6,2 percent), Chas Everitt International (3 percent), Aida (2,2 percent), Homenet (1,6 percent) and Rawson Properties (1,2 percent). Apart from RE/MAX and Wakefields, who both increased their adspend profile – Wakefields by more than double – the adspend by the other groups in the first five months of this year reflected a decline.