Australia’s outdoor advertising sector has a current market value of $837 million, and this will further increase as more people will live in urban areas by 2050.
The industry’s strength lies in the number of Australians who spend time outside of their homes each day, with nine out of 10 leaving their homes for work or school among other reasons. Hence, this presents a great opportunity for marketers to reach a broader audience.
Improving Customer Base
The demand for outdoor advertising also serves as a good reason for marketers to invest in modern tools, including a wide format laminating machine. Digital prints and inks have become the norm as well, due to advertising companies wanting to capture the public’s attention.
If you’re thinking about buying a digital printer or laminator, you could also include it on your 2018 tax return. The Australian Taxation Office offers an instant asset write-off for purchased and installed equipment below $20,000 if your company’s turnover reaches less than $10 million. Modernising your sign-making business such as billboards will be important to keep up with changing times, especially since automation makes it easier for industry stakeholders to prepare marketing campaigns.
The initial stage of the Automated Planning Platform software will be launched in 2018. It will allow media buyers and sellers to solicit bids from the Outdoor Media Association’s members, who will then arrange the proposals for campaigns.
Outdoor advertising agencies may also confirm booked campaigns by using the software system. This trend will further increase the share of outdoor advertising in the total spending budget among companies. In 2017, it joined cinema and online advertising as the three biggest channels in term of expenses.
Some types of outdoor advertising work can be too large for a company, even if they already have an in-house team for the project. As demand is expected to grow in the future, it’s important to look for suppliers who can provide you with the right equipment for the job.