the research evidence - irish and international a. the case for magazine advertising b. advertising...
TRANSCRIPT
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The research evidence -Irish and international
A. The case for magazine advertising
B. Advertising in a recession
Guy Consterdine
Guy Consterdine Associates
24 February 2009
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Ad agencies
Newspaper publishers
Magazine publishers: consumer & b2b
Media research consultancy
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The Case For Magazine AdvertisingThe Case For Magazine Advertising
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Objective
To provide research evidence which supports the arguments for using magazine advertising
Consumer & b2b
Seven key points
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Two reports
www.ppa.ie
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1. Readers develop
a personal relationship
with their magazines
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Matching a magazine’s personalityto reader’s personality
‘The Reader’s Perspective’
National Magazine Company, UK
Sample: readers of 8 magazines
Measured: readers’ attitudes to their chosen magazines
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Attitudes to chosen magazines
1) Reader has own perception of what type of person he/she wishes to be
2) When a magazine’s personality chimes with self-image, high level of identification. ‘This is my magazine’, an informed friend
3) Reader feels ‘my magazine helps me become the type of person I want to be’
4) Reader has a powerful, trusting relationship with ‘my’ magazine
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Magazines are most tailored to audience
'It is usually tailored to meet my individual needs'
1%
3%
6%
12%
14%
19%
35%
Outdoor
Direct mail
Radio
TV
Newspapers
Internet
Magazines
First preferences
Source: Smurfit/UCD for PPAI, Ireland
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Readers develop a personal relationship with their magazines
'This medium best reflects my personal beliefs and attitudes'
1%
1%
4%
8%
8%
15%
30%
Outdoor
Direct mail
Internet
Radio
TV
Newspapers
Magazines
First preferences
Source: Smurfit/UCD for PPAI, Ireland
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Easy Food reader survey:inspiration & emotional reassurance
• 99% of readers agreed ‘Easy Food provides inspiring meals for my family & myself’
• 94% agreed ‘Following a recipe’s instructions gives me confidence’
• 99% agreed ‘I intend to cook something from Easy Food’
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You & Your Money:personal friend with reliable advice
Advice from financial institutions is biased, and confusing
Y&YM is impartial, trusted
“For people like me”
Emotional closeness symbolised by Eddie Hobbs: “Eddie”
Eddie, and Y&YM, are like personal friends
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Other reader studies?
Other editorial research?
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2. Magazines are well read
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Extensive reading time:twice that of newspaper supplements
Time spent reading average issue (minutes)
54
26
Paid-for magazines Newspaper supplements
Source: Quality of Reading Survey, PPA
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It’s a multi-tasking media world
Consumers are increasingly using more than one medium at a time
Magazines less likely to be used at same time as other media
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Using 2+ media simultaneously
Extent of multi-tasking while using each medium (Index: Magazines = 100)
193
140
100
While watching TV While using internet While reading magazines
Source: ‘Magazine Experiences Europe’, Germany/France, UK, Time/Fortune
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It’s a multi-tasking media world
Consumers are increasingly using more than one medium at a time
Magazines less likely to be used at same time as other media
When they are, likely to capture the prime focus of attention
You can’t read a publication without focusing on it
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Multi-tasking:magazines attract primary attention
Of multi-media time spent with medium, % where it receives primary attention
15%
17%
35%
59%
79%
TV
Radio
Internet
Newspapers
Magazines
Source: Middletown Media Studies, Ball State University, USA
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3. Readers are receptive to the advertising
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The ads are relevant
'This medium generally has advertising that I find relevant'
1%
2%
7%
8%
13%
16%
43%
Outdoor
Direct mail
Radio
Internet
TV
Newspapers
Magazines
First preferences
Source: Smurfit/UCD for PPAI, Ireland
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Readers are receptive to the advertising
'I am more likely to pay attention to an advert if it appears in/on one of my favourite…'
1%
1%
3%
5%
13%
18%
47%
Outdoor
Direct mail
Internet
Radio
Newspapers
TV
Magazines
First preferences
Source: Smurfit/UCD for PPAI, Ireland
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Lowest ad avoidance for magazines
Almost always actively avoid the advertising in…
5%
7%
7%
11%
12%
25%
Magazines
Newspapers
Outdoor
TV
Radio
Internet
Source: Smurfit/UCD for PPAI, Ireland
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4. Magazine advertising influences the purchase
decision-making process
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Magazine ads helpful as a buying guide
'Advertising in this medium is helpful as a buying guide'
1%
1%
5%
14%
18%
19%
33%
Outdoor
Direct mail
Radio
TV
Internet
Newspapers
Magazines
First preferences
Source: Smurfit/UCD for PPAI, Ireland
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Magazine ads >> purchase
'I sometimes purchase a product or service as a direct result of the advertising in…'
1%
2%
4%
10%
14%
20%
35%
Outdoor
Direct mail
Radio
Internet
Newspapers
TV
Magazines
First preferences
Source: Smurfit/UCD for PPAI, Ireland
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Image reader survey:action triggered by ads
• 82% of readers bought a product advertised in Image• 81% tried new health & beauty services featured• 88% considered the advertising in Image is useful
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Magazines are effective at all stages of the ‘purchase funnel’
Brand awareness
Ad awareness
Understood message
Favourable impression
Intention to buy
Buy
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Dynamic Logic’s CrossMedia studies (MPA/USA)
32 campaigns using TV + magazines + internet
5 measures of ad impact
‘Exposed’ group compared with non-exposed control group
(a) Comparison of TV + magazines:
TV: its impact on own
Magazines: additional impact, on top of TV
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Magazines add substantial impact to TV
Incremental effect of magazines added to TV: Av. % point increase over Control (Unexposed)
7.69.8
3.9 2.94.6
5.0
7.8
6.9
9.3
2.9
Aided brandawareness
Advertisingawareness
Messageassociation
Brandfavourability
Purchaseintent
Magazines
TV
Source: CrossMedia Research, Dynamic Logic & Millward Brown, USA
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Dynamic Logic’s CrossMedia studies
(b) Comparison of TV + magazines + internet
TV: its impact on own
Online ads: additional impact, on top of TV
Magazines: additional impact, on top of TV & online
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Magazines add substantial impactto TV & online
Incremental effect of online & mags added to TV: Av. % point increase over Control (Unexposed)
7.63.9 2.9
3.7
4.4
1.71.6
1.0
5.7
8.3
3.47.0
4.6
9.8
7.3
Aided brandawareness
Advertisingawareness
Messageassociation
Brandfavourability
Purchaseintent
Magazines
Online
TV
Source: CrossMedia Research, Dynamic Logic & Millward Brown, USA
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Dynamic Logic’s CrossMedia studies:conclusions
On all 5 measures, magazines added substantial impact in addition to what TV and online achieved
Magazines’ added impact was especially impressive for purchasing intent
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Marketing Evolution(MPA/USA)
20 campaigns using TV + magazines + online
Comparison of pre- & post-campaign scores
3 measures of impact:
Brand awareness
Brand familiarity
Intention to purchase
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Magazines add to TV & online:Brand awareness
Source: Marketing Evolution for MPA, USA
Index of pre/post change(TV only=100)
100
138
153
182
TV only TV + online TV + mags TV+mags+online
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Magazines add to TV & online:Brand familiarity
Source: Marketing Evolution for MPA, USA
Index of pre/post change(TV only=100)
100104
135
161
TV only TV + online TV + mags TV+mags+online
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Magazines add to TV & online:Intention to purchase
Source: Marketing Evolution for MPA, USA
Index of pre/post change(TV only=100)
100 101
144
151
TV only TV + online TV + mags TV+mags+online
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Marketing Evolution: conclusions
On all three measures:
• Adding magazines to TV improved the impact considerably
• Adding magazines achieved more than adding online instead
• Best strategy is to use print & online in combination
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5. Magazines make digital media and buzz work harder
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Magazines drive online searching
Have been influenced by this medium to start an online search for merchandise
11%
25%
28%
30%
35%
42%
43%
47%
Outdoor posters
Online ads
Email ads
Radio
Cable TV
Newspapers
Broadcast TV
Magazines
Source: Simultaneous Media Usage Survey 9, BIGresearch USA
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Magazines > online > purchase
Made a PURCHASE after seeing an ad in this medium AND conducting an online search as a result
19%
19%
23%
30%
Out-of-home ads
Radio ads
TV ads
Magazine ads
Source: In-Market Media Usage Survey, Jupiter Research, USA
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Marketing campaigns should use bothmagazines & online
Main source for stated purpose: cycling market
74
58
54
44
34
21
31
31
36
36
25
5
11
15
20
30
4530
General reading /entertainment
Product reviews
Reading up about asubject in detail
Guidance/advice
Sourcing contacts
Latest news
Magazine
Both
Website
Source: ‘Engagement Counts’, Future Publishing Ltd, UK
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Among ‘Influentials’magazines create more buzz
% saying medium contributed to personal recommendations
61%
55% 53%
45% 44%
26%
Magazines TV Newspapers Internet Radio Email
Source: Roper Center for Public Opinion Research, USA
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6. Magazine advertising creates sales:
a) Magazines used on own
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Magazine advertising sales
www.ppamarketing.net
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‘Sales Uncovered’
TNS Superpanel in UK:
household purchases, media consumption
20 brands
Week-by-week sales examined
Analysed against week-by-week mag exposures
Among:
- Exposed to mag advertising
- Not exposed to mag advertising (control)
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Magazine advertising increased salesby an additional 11.6%
Percentage increase in sales £: pre-post change
10.0
21.6
Non-exposed Exposed
11.6% additional increase
Source: ‘Sales Uncovered, TNS for PPA, UK
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Return on investmentMedium term (12 months)
£1
£2.77
Source: ‘Sales Uncovered, TNS for PPA, UK
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Magazine advertising creates sales:
b) Magazines used with TV
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Magazine achievement similar to TV’s…
Percentage increase in sales (£)Magazine & TV weights
3.9
26.328.9
Light/non mags & TV Heavy mags, light/non TV Heavy TV, non mags
Source: ‘Sales Uncovered, TNS for PPA, UK
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…but at a third of the cost
Average budget split
22%
70%
8%
TV
Magazines
Other
Source: ‘Sales Uncovered, TNS for PPA, UK
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Budget implications
Expenditure
Eff
ect
ive
ne
ss
Magazines
TV
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Budget implications
Expenditure
Eff
ect
ive
ne
ss
Magazines
TV
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7. Magazines are a vital ingredient
in b2b marketing campaigns
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Importance of industry-specific media:magazines, websites, face-to-face
'Which business-related media are most effective at informing or validating your firm's business purchase decisions?'
27%
27%
32%
32%
37%
37%
40%
40%
44%
45%
45%
48%
Custom media
General business magazines
b2b blogs
Onine forums, social networks
Specialised biz websites
Web-based events
Industry-specific magazines
Industry-specific conferences
Industry-specific websites
Industry-specific trade shows
Vendors' websites
Source: Forrester Research/ABM
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Usage of traditional b2b media
'Which TRADITIONAL b2b media do you use to do your job?'
21%
27%
34%
39%
51%
54%
55%
62%
65%
69%
Outdoor
Radio
TV
Custom media
Direct mail
Newspapers
General business magazines
Industry-specific trade shows
Industry-specific conferences
Industry-specific magazines
Source: Forrester Research/ABM
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Usage of digital b2b media
'Which DIGITAL b2b media do you use to do your job?'
19%
20%
31%
33%
34%
35%
40%
40%
45%
52%
55%
57%
66%
76%
Syndicated content via RSS
Podcasts
B2b blogs
Product listings/ads in online directories
Mobile/wireless devices
Online forums, social networks
Specialised biz websites
Onine videos or rich internet applications
General biz magazine websites
Web-based events
Industry-specific magazine websites
Web portals
Vendors' websites
Email/electronic newsletters
Source: Forrester Research/ABM
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Combining b2b media
Each kind of industry-specific b2b medium has its own strengths
Effectiveness maximised by using combination of magazines, online & face-to-face
“The three legs of b2b publishing”
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Sell advertising on multiple platforms
91% of decision makers agreed:
“It is easier for me to recognise or remember a company’s brand or products/services when I see messages about it in multiple media such as magazines, online, or at events”
Source: Forrester Research/ABM
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Summary
Readers develop a personal relationship with mag.Magazines are well read: engagementReaders are receptive to adsMagazine advertising influences the purchase
decision-making processMagazine advertising makes other media work
harder – TV, online, etcMagazines create sales: used on own, or in
combination with other mediaMagazines are a vital part of multi-channel
communication strategies (consumer & b2b)
Summary: research provesthe case for magazine advertising
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Two reports
www.ppa.ie
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Further sources
www.fipp.com www.consterdine.com
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Advertising in a recession
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Objective
To assess the research evidence about the importance of continuing to advertise in a recession
Most marketers’ actual behaviour: cut adspend
Best policy: maintain adspend
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Long list of studies examined
• Institute of Practitioners in Advertising (IPA), 2008• Millward Brown, 2008• Data2Decisions, 2008• Malik PIMS, 2008• Peter Field with IPA Databank, 2008• Ehrenberg-Bass Institute, Australia, 2008• Penton/Coopoers/BSI, 2003 • ABM Guidelines, 2002 • McKinsey & Company, 2002• Pennsylvania State University, 2002• Yankelovich/Harris, 2001• Prof. Patrick Barwise, 1999• Tony Hillier, 1999• McGraw-Hill Research, 1985• American Business Press, 1975• Buchen Advertising, 1961• Harvard Business Review, 1923
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Budget-cutting options compared:Typical brand (modelled)
1/0 2/0 3/0 4/0 1/1 2/1 3/1 4/1 1/2 2/2 3/2 4/2 1/3 2/3 3/3 4/3 1/4 2/4 3/4 4/4 1/5 2/5 3/5 4/5 1/6
Sales
Quarter
Budget maintained every year
Zero advertising in Year 1, back to usual weight Year 2+
Half budget in Year 1, back to usual weight Year 2+
DOWNTURN STARTS
Source: Data2Decisions
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Budget-cutting options compared:Typical brand (modelled)
Eliminating budget in Year 1: sales take 5 years to catch up
Halving budget in Year 1: sales take 3 years to catch up
Profit foregone because sales are lower is likely to far exceed short-term profit gain by saving adspend in Year 1
Meanwhile market share likely to be lost long-term
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Conclusions: 1
Immediate profits protected by cutting adspend, but benefit is very short-term
Neglecting brand support in downturn will weaken brand & make it less profitable post-recession
Price promotions damage profits and brand values
Brand values impaired in downturn are hard to restore in upturn
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Conclusions: 2
Share of voice matters
Keep share of voice equal to or above share of market
It’s likely to improve market share in medium and long term
A brand maintaining adspend while rivals cut theirs automatically increases share of voice
Price of buying media space or time falls in recession – exceptionally good value available
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Conclusions: 3
Recession provides opportunities for marketers:
- to attack competitors
- to gain market share
- to gain market leadership
Can improve company’s stock market valuation
Consumer markets
B2b markets
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Conclusions: 4
Results not broken out by medium
“Magazine advertising has all the characteristics that we would believe makes advertising especially valuable during a recession”Keith Roberts, Malik PIMS
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www.ppa.ie
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These slides available for use