- Top 12 financial service brands (by ad spend) revealed
- How the finance industry invested $610 million in ads during FY 2023-24
- Australia’s top demographic targets for finance ads
- 1.4 million Aussies are looking at switching super funds
Sydney, Australia – October 2, 2024 – Nielsen has released its most recent Ad Intel and Consumer & Media View (CMV) data on the finance industry in Australia, as the sector ramps up ad spending by 9%, year-on-year.
The Commonwealth Bank was the top advertiser for the sector, followed by ANZ and Westpac.
While Australia’s top financial brands overwhelmingly invest in ads to promote their services, on average, corporate sponsorships are the second biggest ad investment, followed by superannuation products, home loans, debit and credit, and personal banking services.
Close behind are business banking services, followed by real estate investment offerings, managed funds, and e-banking products.
Additionally, Nielsen Consumer & Media View (CMV) data shows that 1.4 million Australians are currently looking to switch super funds, while 2.9 million are considering changing banks. 34% of them say it’s because of high fees, 33% want better interest rates, and 21% plan to do so because of poor service.
Rose Lopreiato, Nielsen Ad Intel’s Australia Commercial Lead, said: “In a highly competitive market like financial services, understanding where and how much your competitors are spending on advertising is crucial. Nielsen’s Ad Intel data reveals that ad investment in the finance sector surged by 9% year-on-year, with top brands like Commonwealth Bank, ANZ, and Westpac leading the charge. With $610 million invested across platforms, TV, General Display/Video, and Social Media emerged as the top three ad mediums. As digital channels continue to gain credibility and influence, brands need comprehensive insights into ad spend trends across both traditional and digital platforms to stay competitive.”
*Source: Nielsen Ad Intel 2021 – 2024
**Source: Nielsen CMV – 2024 Survey, March – August
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