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1.0 PRINT VS. DIGITAL1.1 Pros and Cons

1.2 How Print Supports Digital and Vice Versa

1.3 Statistics

2.0 CONSUMERS OF NOW2.1 Informed Consumers

2.2 Affluent Consumers

2.3 Senior Business Executives

3.0 LUXURY BRANDS AND DIGITAL MEDIA How Luxury Brands Should Use Digital Media

3.1 Relationship Building

3.2 Tools 3.21 Email/eDM 3.22 Interactive or Virtual Catalogues 3.23 Rich Media 3.24 Website 3.25 Monitoring 3.26 Other Social Media/Web 2.0 Tools

4.0 LUXURY BRANDS AND PRINT MEDIA

4.1 What Digital Media Are Best Used For

4.2 What Print Is Best Used For

5.0 BIBLIOGRAPHY

CON-TENT

Copyright© 2009 Qube Studio Private Limited, Singapore

1.1 Pros and Cons1.2 How Print Supports Digital and Vice Versa1.3 Statistics

1.0PRINT VS.DIGITAL


– A printed piece appeals to the most basic level of a person’s senses

– Survey respondents state that the ability to hold, smell and feel an object is what they remember most about a piece and the product or brand it represents

– People read word-for-word when reading print, but only scan online text1

– The online environment deters the consumer from focusing because of its multiple distractions (other open windows/tabs, instant messaging, etc.)

– Reading online may not be as rewarding – or effective – as reading the printed word2

Thus, online and offline content cannot be written or presented the same way3

– C-level business executives have a preference for print in the leisure sector (i.e. magazines on their hobbies, or reading during their leisure time)

– Magazine print ads are more effective than online banner ads4


PRINT VS. DIGITAL 1.01

1 Statistics in Appendix2 More details in Appendix3 More details in Appendix4 More details in Appendix

PROSa

– “Up-to-the-minute” information

– Interactive user feedback

– Easily searchable

– Depth and richness of content

– Quick and easy to produce

DIGITALPRINT

1.1PRINT VS. DIGITAL


PROS

– Tactile and prehensile

– Portable, convenient and easy to read

– Discrete units of text facilitate concentration

– Higher credibility

– Remains a comfortable form for older generations

CONS

– Cost

– Does not address all of the ways consumers want to get information

– Takes up physical space

– Can be in only one place at a time

CONS

– No limit to the amount of search results

– Question of validity and credibility 5

– Results must be evaluated carefully

– Readability is worse

– Divided attention of internet-browsing consumer (multiple distractions)

5 While consumers clearly see the benefits of the Internet on their lives, they continue to have concerns about Internet safety and the trustworthiness of some online information – just 28% trust the information that companies provide on the Internet.

HOW PRINT SUPPORTS DIGITAL AND VICE VERSA

– Consumers with favourable opinions towards online advertising expressed more positive attitudes towards all other traditional forms of advertising media tested

– The reverse is also true

– Marketers can either use print to support digital, or use digital to support print:

• Printsupportedbydigital: Consumers receive print collateral directing them to an online source that provides them with more information about the offering

• Digitalsupportedbyprint: Consumers can request a print brochure to be sent to them if they want more details

– Online advertising can be the lead generator, but print is the persuasive factor

1.2PRINT VS. DIGITAL


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INTERNET USERS ANDPOPULATION STATISTICS FOR WORLDWIDE


1.31PRINT VS. DIGITALStatistics

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WORLD INTERNET USAGEAND POPULATION STATISTICS

1.32


PRINT VS. DIGITALStatistics

Rest of the World2.9 billion

Internet Users931million

Asia3.8 billion

Internet Users657million

INTERNET USERS ANDPOPULATION STATISTICS FOR ASIA

1.33


PRINT VS. DIGITALStatistics

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INTERNET USAGE IN EUROPE



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INTERNET USERS AND POPULATION STATISTICS FOR THE AMERICAS



2.1 Informed Consumers2.2 Affluent Consumers2.3 Senior Business Executives

2.0CONSUMERSOF NOW


– Consumers are more informed now than ever

– Consumers are increasingly seeking out relationships with the companies they choose to do business with

– Buying decisions are built on information they have researched and influential online communities

– Informed customers assert more control over the brand

– They expect companies to participate in dialogues with them and listen to their ideas and requests as well as react to feedback

INFORMEDCONSUMERS

2.1

– Consumers who feel they are not being heard will turn to other channels to share their opinions and frustration

– Many consumers choose the Internet to do so – specifically, social media sites which can include discussion boards, blog and online groups

– These word-of-mouth propagating tools can make or break a company’s reputation


CONSUMERS OF NOW

AFFLUENTCONSUMERS– The affluent consumer is segment ready for online marketing

– They are highly considered and informed purchasers

– 91% of them look at reviews before buying luxury goods

– However, that does not mean luxury retailers can forgo plush packages and pampering

– The wealthy still like the brands they purchase to make them feel special

– They expect a luxury brand’s marketing to reflect the brand image

– They are also value-driven consumers in this downturn

– 87% of consumers state that they would rather buy a more costly item that keeps its value, than a less expensive one whose value will diminish

– The recession has brought about feelings of “luxury shame” for certain affluent consumers, which affect the extravagance and openness of their purchasing decisions

CONSUMERS OF NOW


2.2

SENIORBUSINESSEXECUTIVES

– 66% of younger executives (under 45 years of age) obtained their information from electronic media, followed by traditional media

– Only 50% of those aged 55+ made the same claim

– However, 75% of all respondents disagreed with the statement that the Internet meets all their information needs

– A majority of this segment still look to print for in-depth analysis

2009 Decision Dynamics study(by Financial Times and Doremus):


2.3CONSUMERS OF NOW

3.0LUXURYBRANDS ANDDIGITAL MEDIA

How Luxury Brands Should Use Digital Media 3.1 Relationship Building 3.2 Tools 3.21 Email/eDM 3.22 Interactive or Virtual Catalogues 3.23 Rich Media 3.24 Website 3.25 Monitoring 3.26 Other Social Media/Web 2.0 Tools

– Web 2.0 is great for conversations and winning but it is only part, and not all, of the brand experience


– Consumers feel that luxury brands have been slow on the uptake of Web 2.0

– They expect luxury brands to set the benchmark for digital advertising, much as they do in print advertising

– 68% of hoteliers reported that they would be shifting their budgets from offline to online marketing activities in 2008

RELATIONSHIPBUILDING

– Understand how, when and why customers (as well as potential customers) use the Web and social networking

– Listen in to the social media conversation that is already going on about the brand, product or company

– Use the online or digital space as a channel for customers to have a two-way conversation with the brand

– Learn how to communicate with consumers in a way that encourages trust and engagement

LUXURY BRANDS AND DIGITAL MEDIA How Luxury Brands Should Use Digital Media


3.1

– Be transparent and open

– Do not try to control the online conversation or any consumer-generated media (CGM)– Instead, participate

– Build authentic communities around the brand

– These communities will provide important and timely opinions, reviews and information

– Tread carefully in this area to preserve the long-term value of this marketing channel6

– Realise which sort of email content and email type consumers are looking to receive, even if it is permission mail

– Based on interest and volume information, promotional emails are seen as the most intrusive email type

– The quality of a company’s email program influences brand perceptions, whether negatively or positively

– Integration of promotional marketing messages into transactional emails is a marketer’s best tactic to cut through promotional clutter

EMAIL/eDM


3.21

– However the main message of the email should not be obstructed.

– Thus, marketing messages in eDMs must be condensed

– Alternatively, marketers can provide a mix of print and electronic direct mail

– This reduces the amount of promotional emails and also takes into consideration C-level executives’ preference for print in the leisure sector

– It could possibly replace or lessen a brand’s online ad clutter by providing another advertising option to channel messages through


Tools

6 More details and statistics in Appendix

– Interactive catalogues mirror offline print books

– Although catalogues are cumbersome, a significant segment of the customer base has shown it prefers them to site-navigating

– They may not be the most popular option, but when people do engage, they convert

– Some luxury merchants send these interactive catalogues via email to their top customers before their print books arrive in the mailbox. This gives the best customers a first look at new merchandise

– The superior image reproduction of rich media catalogues appeals to luxury brands and high end companies

– For brands that produce a print catalogue, the virtual catalogue maximises their investment in the book’s creative material

INTERACTIVEOR VIRTUALCATALOGUES

3.22



Tools

RICH MEDIA – Rich media are visually engaging content that highlights a brand’s products in the context of the environment, as well as the lifestyle they are meant to complement

– An example is Tod’s video and online campaign


3.23LUXURY BRANDS AND DIGITAL MEDIA How Luxury Brands Should Use Digital Media

Tools

WEBSITE– Do not focus the website too narrowly around customer service and complaints

– Do not view the website solely as a place to market your product

– Use the website to build your brand image

– Consider the usefulness of the website for consumer research

– Introduce features on your website that will elicit consumer ideas, opinions and inputs

– Websites that are cluttered with ads not only annoy their audience, but diminish ad effectiveness as well7

– Note that most consumers have grown oblivious to the industry-standard spaces for certain online advertising media – for example, online ad banners –

– This results in a poor recall for web advertising



Tools

7 More detail in Appendix

– Monitoring is a part of the Brand Defensive Strategy

– Companies should react to customer reviews on social media sites that matter. For hoteliers, two important sites are TripAdvisor.com and HotelGuide.com

MONITORING



Tools

OTHER SOCIAL MEDIA/WEB 2.0 TOOLS

– Twitter

– Videos

– Forums

– Social bookmarking

– Blogs

– RSS

– Podcasts

– Vodcasts



Tools

4.0LUXURY BRANDS AND PRINT MEDIA4.1 What Digital Media Are Best Used For4.2 What Print Is Best Used For


– While digital is still the forerunner in contemporary marketing channels, print proves to be a strong complementary or supplement when wielded expertly

– Consumers read printed material 25% faster than onscreen material

– A Vertis Communications study stated that for complicated selling information, many consumers simply print out the material from the Internet in order to absorb it

– A Deloitte survey stated that we are living in a “media democracy”, where no single form of media dominates

– A recent survey conducted by Pitney Bowes found that 56% of consumers had a high preference for personalised direct mail – with messages and offers uniquely designed to reflect their needs and interests

– Echelon Marketing Group president Don Neal states that email is the least able vehicle for presenting a luxury brand image. More effective methods include direct mail, catalogues, telephone calls and special events

– Personalising messages can also generate up to 5 times the response rate over generic communications, while adding a specific offer to a customised message can increase the response rate by nearly 10 times

– A print ad should no longer stand alone. Neither should any brand-building print collateral, such as brochures, flyers, fact sheet, pocket folders, sales booklets, press kits. There has to be an accompanying Web presence

– The decision-maker that marketers need to influence has less time to find and evaluate information, which means marketers have to blanket that prospect with multiple ways to access a brand

– The fact is, all media tools do some jobs well and some not so well, which is why finding the best marketing mix to leverage each tool’s best capabilities would result in optimising overall marketing effectiveness and cost

LUXURY BRANDS AND PRINT MEDIA


4.01

WHAT DIGITAL MEDIA ARE BEST USED FOR

– Use digital/online to build and maintain customer relationships and customer loyalty

• ThegreatestoftheWeb’sbenefitsistheopportunitytointeractwithand listen to customers

• Itcanbeutilisedasasaquicktestinggroundtogarnerfeedback:

– to broadcast time-sensitive, quick information bites to consumers

– to serve as an effective channel when consumers are looking for immediate information


4.1LUXURY BRANDS AND PRINT MEDIA

WHAT PRINTIS BESTUSED FOR– To build and maintain brand awareness (even if there is a shift to online)

– For more in-depth or longer pieces of writing

– When marketers want consumers to focus only on one item (as opposed to the multitasking of consumers when they read online)

Note: If done well, print produces more effective results; but if not, results are much worse


4.2LUXURY BRANDS AND PRINT MEDIA

5.0 BIBLIOGRAPHYCopyright© 2009 Qube Studio Private Limited, Singapore

Ballantyne, C. (2008, Dec 23). Online v print reading: whichone makes us smarter? The 60-Second Science News Blog(from Scientific American Inc). Retrieved from:http://www.sciam.com/

Bates, R. (2009, Mar 1) The frugal consumer: When shoppers lose the urge to splurge. Jewelers Circular Keystone. Retrieved from: http://www.jckonline.com

Comac (-). Collateral rationalization – Making your collateral pay its own way. Comac, Inc. Retrieved from:http://www.comac.com

Connolly, L. (2009). View from the inbox 2009: Actionableinformation for marketers from the annual consumer emailattitudes and usage study. Merkle Inc. Retrieved from:http://www.merkleinc.com/

Coyler, E. (2007, Aug 27). Luxury brands confront Web 2.0.BrandChannel. Retrieved from:http://brandchannel.com/

Davies, M. (2008, Oct). Listening to consumers 101: Howmarketers can leverage consumer-generated media. NielsenOnline. Retrieved from:http://www.nielsen-online.com

Doremus (2009, Mar 12). Worldwide senior execs “Can’t get enough” media says new Financial Times/Doremus survey. Retrieved from:http://www.doremus.com

Faulhaber, P. (2009, Feb 11). Online advertising: Advertisingtrends show shift from print. Suite 101. Retrieved from:http://web-advertising.suite101.com

Fleishman-Hillard/Harris Interactive (2008, June 12). Digitalinfluence index sheds new light on role of digital channels inconsumer decision-making. Harris Interactive. Retrieved from:http://www.harrisinteractive.com

Hotel eBusiness Strategies (2008, Dec 26). Hotel internetmarketing best practices and 2009 action Plan. 4 hoteliers.Retrieved from:http://www.4hoteliers.com

Magill, K. (2006, Jun 1) From Print to screen. Penton Media, Inc. Retrieved from:http://www.multichannelmerchant.com

Mitre (2007). Do you need printed collateral in a digital world? Mitre Agency. Retrieved from:http://mitreagencyclients.com

Mortimer, P. (2008, July 8). Where is the money? Sales and marketing collateral. Printing News. Retrieved from:http://www.printingnews.com

Nussey, B. (2009, Mar 24). The rules of engagementmarketing. iMedia Connection. Retrieved from:http://www.imediaconnection.com

Ogilvy & Mather (2009). Digital in a downturn – Smart strategies for tough times. Ogilvy & Mather Worldwide. Retrieved from:http://www.ogilvyonrecession.com/

Pitney Bowes (2008). Unraveling the collateral managementconundrum. Pitney Bowes Inc. Retrieved from:http://www.pb.com

Powers, W. (2006) Hamlet’s Blackberry: Why paper is eternal. Joan Shorenstein Center on the Press, Politics and Public Policy Discussion Paper Series, Harvard University.

Salter, G. & Bracewell, V. (2008, May 28). E-commerce: Webremains a world away for big brands. The Financial Times.Retrieved from:http://www.ft.com

Starkov, M. & Price, J. (2009, Mar 17). The hotelier’s internetmarketing action plan for a difficult economy. Hotel Marketing.Retrieved fromhttp://www.hotelmarketing.com

Tsao, J. & Sibley, S. (2004, May 12). Displacement andreinforcement effects on the internet and other media assources of advertising information. Cambridge Journal ofAdvertising Research, Vol. 44, Issue 01. Retrieved from:http://journals.cambridge.org

Wegert, T. (2008, Oct 9). Using video to elevate luxurymarketing online. ClickZ. Retrieved from:http://www.clickz.com

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