In Print: Why Print Media - and Why Now?1 May, 2009 By: Marianna Morello Response
With more than 30 years of experience in the print media arena, I can confess that 2009 has been a bit of a shocking year, to say the least. Rates for print media have fallen to their lowest levels in 15 years. I am buying opportunistic remnant buys at costs-per-thousand (CPM) that range from $1.25 to $8.00 for publications that would have never offered this in the past.
What does all of this add up to? A buying opportunity for anyone smart enough to get into the print media world. A number of clients have been bitten by the print media bug. They are reaping incredible returns-on-investment, with some reaching media efficiency ratios (MER) of 5.5 and better.
As we are all aware, the stock market and banks are not the places to invest your money right now. If you believe in your product, create a print ad and test the waters. Now is the time to dive in and see your profits grow. Print can give you a better ROI when you consider all the alternatives.
The DRTV industry has always felt that print ads do not pay out. On the contrary, during the economic crisis, print media is the cheapest way to invest money into your product or service, with as little as $3,000-5,000 enough to test a newly developed print campaign.
Remember one thing: you can always use another revenue stream, and print is a stream that keeps on flowing. Even after your short-form campaign or infomercial is off the air, your print ad will keep on returning responses for weeks and months to come.
Need more reasons to try print media? Here are nine reasons (courtesy of Magazine Publishers Association studies from 2007 and 2008) to give it a shot.
1. Magazine advertising engages. Multiple studies show that consumers are more likely to find magazine advertising acceptable and enjoyable compared to advertising in other media. In addition, they find magazine advertising less interruptive.
2. Magazine advertising moves readers to action, including visiting and searching on the Web. More than half of readers took action or had a more favorable opinion about the advertiser in response to magazine ads, according to Affinity Research. Numerous studies prove that magazine ads drive Web visits and searches more than other media.
3. Magazine advertising improves ROI: Studies have demonstrated that allocating more money to magazines in the media mix improves marketing and advertising ROI across a range of product categories.
4. Magazine advertising sells, and it delivers results consistently. Several studies show that magazines are the strongest driver of purchase intent and boost other media's effectiveness. What's more, magazines deliver results more consistently throughout the purchase funnel than TV or the Internet.
5. Magazine advertising is relevant and targeted. Consumers consider magazine advertising more relevant than advertising in other media. With a range of titles that appeal to a wide variety of demographics, lifestyles and interests, advertisers can hone in on targets that fit their needs.
6. Magazines reach the most desirable consumers. Across major demographic groups, the combination of the top 25 magazines delivers more rating points than the top 25 TV shows. In addition, heavy magazine readers are likely to be among the highest spenders across most product categories.
7. Magazine audiences accumulate faster than you think — and with lasting impact. The average monthly magazine accumulates approximately 60 percent of its audience within a month's time, and the average weekly magazine accumulates nearly 80 percent of its audience in two weeks. In addition, consumers refer to magazines multiple times, even saving them, giving advertisers the opportunity for multiple exposures.
8. Magazines influence the influential. Magazines are the medium that "influential Americans," the one-in-nine consumers who control the levers of change, turn to the most for making purchase decisions and recommendations.
9. Magazines supply credibility. Consumers trust and believe magazine advertising more than advertising in other media. In addition, consumers turn to magazines as a source for new product information.
Marianna Morello is president and CEO of New York-based Manhattan Media Services Inc. She can be reached at (212) 808-4077.