As advertisers grapple with shrinking marketing budgets against ever-increasing sales and customer acquisition targets, there is greater pressure on marketing dollars to work harder than ever before. When you add continuous innovation to marketing and media platforms, advertisers have more communication vehicles than ever before to romance their target audience – and consumers have more communication vehicles than ever before to listen (or ignore) these messages. We continue our series in investigating the roles certain marketing channels play in driving business growth for advertisers. We explore which communication vehicles are known to be more effective in driving sales and customer acquisition, and which marketing channels typically achieve higher return-on-investment. In studying the roles various marketing channels play in driving key performance targets across a number of verticals in Australia, it is possible to draw some overall conclusions. Previous issues have explored TV and Radio. This issue puts the spotlight on Newspapers.
Newspaper publishers are currently experiencing a gradual decline in readership and circulation, largely due to the emergence and growing popularity of other media, particularly through digital platforms. It is getting more difficult for newspaper publishers to entice advertisers to apportion some of their marketing budget to press. Whilst newspaper reach is slowly shrinking, there is no denying that press advertising can drive business growth in ways unique to its format.
Press advertising can achieve higher return-on-investment compared to other marketing channels. This can be attributed to the fact that press advertising can include much more content, particularly specific or complex, compared to TV and Radio as the advertising spots through Press are not momentary as they are for 30-second or 15-second TV or Radio spots. Press ads can be revisited by the consumer after their initial exposure, depending on how long the consumer retains the newspaper. Another factor driving better recall of press advertising comes from the nature of human behaviour. Whilst consumers feel TV and Radio consumption is free and therefore are comfortable to not necessarily give 100% of their attention to it when consuming those forms of media, the action of purchasing or subscribing to newspaper publications influences consumers to ‘get their money’s worth’ by reading their newspapers cover-to-cover at their convenience (e.g. at the end of the working day to relax, on the train ride home or during the weekend over breakfast).
To increase Press’ potency in driving business growth, advertisers with retail campaigns should consider employing this medium. Newspapers are more effective in driving retail campaigns than brand campaigns. When press is the primary channel for a campaign designed to promote a special discount offer or increased value, its format allows the advertiser to communicate reduced price points and greater purchase value much more clearly than other media such as TV or Radio. Newspaper inserts can also be another way to increase awareness and call-to-action to an advertiser’s brand, product and message.
Another advantage Newspapers have over other forms of media is lower advertising decay rates. Newspaper advertising campaigns enjoy slower decay or wear-out compared to campaigns through TV and Radio, i.e. it takes longer for consumers to tire of being exposed to newspaper ads compared to TV and Radio ads. When you add a greater likelihood of cost-efficiency in Newspaper advertising campaigns compared to other media such as TV, it is worthwhile considering the inclusion of Press in multi-media campaigns.
Hopefully these observations about the role Press can play in your marketing strategy has been valuable. Please watch out for the next issue which puts the spotlight on the medium of Magazines.
For further information about media effectiveness or how you can optimise your marketing strategy, please feel free to contact Clare by emailing ClareF@thriveplus.com.au