Val Morgan targets big-spenders with new geo-targeting advertising tools
Val Morgan is allowing advertisers to target the country’s highest spenders through a new planning segment within its cinema audience measurement platform CineTAM Live.
According to Roy Morgan research, Australian consumers are divided into two very distinct groups: the ten million Australians who have a traditional spending mindset, and the NEOs: five million Aussies who represent the New Economic Order.
These NEOs make up 24% of the population, but account for 41% of all retail sales. They spend 2.65 times more money at retail, and are highly valued by leading companies, including Lexus, Moët-Hennessy, Qantas, Four Seasons Hotels & Resorts, NAB, David Jones, and JB Hi-Fi, all of whom target this valuable subset.
NEOs aren’t necessarily the high-earners of society, but, more indiscriminate spender; as social scientist Dr. Ross Honeywill, who developed the NEO consumer typology, puts it, they are “the consumers who just consumed their way through the COVID recession.”
The new NEO segment within CineTAM Live allows brands to reach these high-spenders, and aim campaigns directly at these audiences. Further to this, Val Morgan is also developing NEO GEOs, a new NEO-targeting capability in cinema based on geographical hotspots.
“The NEO mindset uses data science and neuroscience to reveal spending propensity across all categories and the psychology underpinning it,” explains Dr. Honeywell (pictured below)
“NEOs are 30% more likely than the average Australian to go to the movies – over the past year, 71% of NEOs visited a cinema compared to 54% of the population as a whole.
“And they drove the dramatic resurgence of cinema post-COVID.”
Paul Butler, director of insights and analytics at Val Morgan said: “Through the work we’ve done with Premiumisation Partners and Roy Morgan it’s clear that NEOs have a universal affinity with cinema, with this highly valuable segment over-indexing across all film genres, from the biggest blockbusters right through to niche and discerning titles.
“Cinema is a proven driver of trends and conversation, magnified by the shared collective experience and unrivalled levels of attention.
“This makes it an unparalleled platform for brands to consistently engage with this coveted audience at scale and leave a lasting impact week in week out.”
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Nathan Jolly is the Features Editor at Mumbrella. He joined the team in July, 2023.
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