BizReport

RSS feed Get our RSS feed

News by Topic




BizReport : Advertising archives : March 24, 2015


Forecast: Healthcare ad spend to push local

Look for more health-related ad dollars to push into local markets. That is the takeaway from a new forecast out from BIA/Kelsey. According to their pundits health care advertising dollars are going to push into the local space - to the tune of about $11 billion (2015).

by Kristina Knight

In the local space, brands are shelling out about $138 billion per year; 7% of that spend is now expected to come from the healthcare sector. About $9 billion of the local health spend are expected to go into traditional outlets - TV, radio, newspapers - while just over $1 billion will be pushed into digital.

"While traditional media currently earns the lion's share of health care's local ad dollars, we expect there will be a greater reliance on digital/online media going forward," said Dr. Mark Fratrik, SVP and chief economist BIA/Kelsey. "Our forecast indicates digital/online will account for 20 percent of total local ad spending by health care organizations by 2019. Traditional media and digital/online marketing solution providers serving health care companies will do well to target the anticipated changes in local ad spending in this vertical category."

Some interesting takeaways from the Insights Into Local Advertising - Health Care Vertical report include:

• Hospitals will spend about $5 billion of their ad dollars locally (46% of the total local health spend)
• Physicians will spend $2.5 billion (23% of the total spend)
• Small business, including health equipment suppliers, will make up a 'significant amount' of the vertical

Those small businesses are expected to focus on mobile, social and SEM ad options, but will also push into print ads.






Image via Shutterstock

Tags: advertising trends, BIA/Kelsey, health advertising, local advertising, local health ads








Subscribe to BizReport







http://www.bizreport.com/2015/03/forecast-healthcare-ad-spend-to-push-local.html

 

 

Copyright © 1999- BizReport. All rights reserved.
Republication or redistribution of BizReport content is expressly prohibited without the prior written consent.
BizReport shall not be liable for any errors in the content, or for any actions taken in reliance thereon.