As marketers’ investments in print advertising continue their steep decline, experts explain the medium’s relevance in the digital age
Last year was another rough one for newspaper and magazine publishers. In 2014, 91 U.S.- and Canada-based magazines ceased publication, up from 51 closures in 2013, while stalwarts like the U.S. political magazine National Journal decreased their issue frequency. On the newspaper end, total ad revenue in 2013 was 49% lower than it had been a decade earlier, according to the "State of the News Media 2014 " study by the Pew Research Ce nter, and Tribune Co. is estimated to have cut 700 jobs in 2013 alone. Fearing for the worst, many publishers are raising subscription costs in an attempt to offset declines in print advertising revenues, investing in flashier digital delivery platforms in order to offer advertisers multichannel bundle opportunities, or launching annual events in the hopes of generating enough money via registrations and sponsorships to sustain a year’s worth of magazine production costs.
But print advertising isn’t dead, experts say. Print circulations are down, but in many cases, that means that publications’ readership has been culled to only the most engaged, which is a desirable trait, from an advertising standpoint. The primary challenge with print is demonstrating the ads’ effectiveness, but experts argue that there’s a solution.
“Print is interesting because it actually provokes people to read it,” says Britt Fero, executive vice president and head of strategy in the Seattle office of New York-based ad agency Publicis. “Just buying it or getting it in the mail provokes the reader to engage in a way that digital doesn’t. If you have time to read a magazine, then you’re going to really engage with the ads in there. Print ads should inspire you to look at them even longer.”
The Pros of Print Advertising
"Print is still a top-of-funnel medium,” says Andy Blau, senior vice president of finance and advertising at New York-based magazine publisher Time Inc. “It’s really for establishing brand worthiness in the marketplace, for establishing the value of the brand, for communicating very broadly, with broad reach, to the right target audience. It’s really pure brand advertising. And digital tries to do some of that, but it’s still much more of a direct response. People still measure digital with click-throughs and conversion rates, and you can’t necessarily maintain marketing of a brand through digital alone. Print advertising is a very efficient way of establishing a brand identity and for communicating that to the target market."
Advertisers have to factor in longer lag times for measuring print ads’ impact, Blau says, but it’s worth it in the end because of print’s longer shelf life and higher potential for reverberations beyond the initial reader. “There are methodologies for proving ROI for print, but it’s not instantaneous like it is with digital for a variety of reasons: It’s a physical product, it takes time to arrive at a person’s house, it’s there for a long time so there are many impressions, and there’s a pass-along and an audience reach that accumulates over at least two weeks.” In other words, patience is required, but it’s possible that a print ad’s value extends well beyond its CPM.
Leave it to a publishing executive to make the case for print advertising, but Fero agrees. “People are in different mental spaces when they choose to engage with a printed magazine versus digital content. Magazines, and print in other forms, serve as inspiration, and they also can be informational. A lot of that is title-dependent and reader-mindset-dependent. What does the reader want to get out of those five minutes that he spends with that particular title? This is really where, in marketing, you can actually add value to a medium because the reader is looking for a very specific kind of content anyway, versus just talking about your brand. Print is becoming even harder, more competitive. It has to speak to the kind of content someone is really interested in.”
Sponsored content or native ads are the trendiest way to serve up publication-specific content in an attempt to engage readers, but print ads also offer such versatility through image selection and messaging cues, Fero says. "There’s a beauty to a lot of magazines, which is why people still engage with them, where the artistic nature of well art-directed, very visually driven communication stands out in that environment. Where print is really excelling, though, is thinking about how you tie to that content directly. … You can use print to tell multiple stories about a brand. A cruise line can be in a food and wine magazine to tell the food story, and a travel magazine to tell stories about the destinations and ports that they have, and can also be in something like Architectural Digest to be able to tell readers about their new ship designs."
Addressing the Cons of Print Advertising
Print might not be as effective for all advertisers, especially those marketing time-sensitive offers, she adds, as the print medium best fits products with longer consideration times, such as the aforementioned cruises, or cars or even CPG goods. “You have to bank on the fact that your product or service doesn’t require immediacy because there’s often a long lag time between publication and people actually reading it.”
Moreover, you’ll likely have to do more legwork to demonstrate the results of your print investment than you would for a digital ad buy—but those results can be worth it. According to a February 2014 study by GfK Panel Services, the arm of the Nuremberg, Germany-based research firm that specializes in ROI studies, magazine and newspapers have the highest ROI, at 125%, compared with other ad mediums including TV and digital, which weigh in at 87%—and that’s ROI in concrete revenue terms. The study, conducted for Dutch news media brand NPD Nieuwsmedia, tracked purchase behavior through online data and questionnaires.
“Over the course of many years, print brands have successfully developed strong connections with their readers,” says Mickey Galin, executive vice president of research and director of business development at GfK’s Mediamark Research and Intelligence group in New York. “Many readers look forward to their time with their print brand. We believe that readers often consider magazines to be their friend and would be unwilling to do without their favorite brands. The overall experience of consuming print brands pairs content with advertising in a seamless way [so that some] readers actually want to see the advertising that’s carried in the [print] brands that they consume.”
Marketers can include QR codes, or set up ad-specific URLs and “vanity sites” so that they can track how much traffic is generated from a particular print ad, and the tried-and-true “How did you find us?” question on a lead gen form still works, as well, says Aaron Padin, head of art and design at J. Walter Thompson New York. Print ads also can be fertile ground for engaging creative that spurs on social buzz, he says. “Good print can spread in a new way since people will tweet about it. They’ll mention it on Facebook,” which means that marketers can leverage social listening platforms for a more well-rounded perspective on a print ad’s performance.
In most ways, ROI from print ads is still very challenging to track directly, and many returns are softer than CEOs want to hear—although marketers should make the case for their worth, Padin says. The real value in print advertising is in brand awareness and perception, and in getting your message or offer to be top of mind in the long run, he says. "Whether the print ad is about driving traffic to a website or simply building brand awareness, I look at whether the brand is moving overall. That’s the biggest, and simplest, success metric."
Long Live Print Advertising
In February 2015, Time Inc. announced that it would expand its current programmatic-buying platform from solely digital ad buys to include digital and print ad bundles. “There’s a misconception among advertisers that print ads are much more expensive than digital, but the gap is much smaller than you would think,” Time Inc.’s Blau says. “We thought that by launching print programmatic, we could expose print to a whole digital buying community that never considers print.”
While one of the goals of this program is to provide more accurate ROI metrics for print publications, that technology is still far from perfect, says Sam Cox, vice president of global media at New York-based MediaMath, the programmatic-buying software provider that built Time’s platform. “The idea is that we can use the tools that we’ve traditionally used for digital closed-loop attribution and start to use them for other forms of media, but that’s going to take a lot of work with audience syncing over the next few years,” he says. “If we, as digital marketers, can think about how to define the ROI, and how to bring some of the values that print has in terms of brand lift, recognition and all of the other brand metrics that are traditionally associated with [an ROI] study that you would do with print, and integrate that into your digital offering, we think that the whole is greater than the sum of its parts.”
Fero warns that if publishers start selling print ad space in the same way that digital ads are sold—by demographic rather than title—they run the risk of marring what makes print ads, especially in magazines, so special: continuity of content. “With print, I have to be interested enough in the totality of the content of a magazine to subscribe to it,” she says. “Online, you can find me alone, looking at me solely through my demographic, but when I’m looking at a magazine, that matters much less. The way people consume print, it just doesn’t work the same way as digital.”
Padin agrees that what continues to make print ads valuable is the (nearly) undivided attention that readers give to magazine and newspaper content, rather than multitasking like they do when consuming digital content. “Print is all about that consumer engagement, where people are physically holding the ad in their hands,” he says. “That’s something I directly tell clients and their C-suites. You want to reach people where they are, and that’s what print is now.”
The importance of a print media presence is that it creates engagement and adds credibility.
Having a print media presence can also provide a return on investment by creating a lasting image in a consumer’s mind.
Additionally, print media is portable, and is available at any time, even when there is no service or power. Many consumers prefer printed material like newspapers and magazines to digital versions. It is visible and accessible even though sharing digital media is both faster and easier because there is no need for special keywords or account information to access print media.
Print media presence benefits by its physicality - not only is it long-lasting; it can’t be deleted. It is also seen as being professional, and that professionalism allows for print media to achieve a credibility that is difficult to achieve in digital media. Consumers also have more trust in print media over digital media, as of 2015.
Print media can be informative, as it allows companies that want to push a sale onto potential customers to do so in a variety of printed forms, such as brochures and color sales fliers. Print media also helps a company build its image, because lasting photographs of the product or service the business offers can enhance the consumer’s impression of the product.
I was on the phone this week talking to a customer about different options for a print content strategy. He was interested in the discussion because he felt they needed to do more non-traditional marketing.
Just think about that for a second… print is non-traditional marketing. That’s where we are today. Blogging, social media, web articles… that’s all very traditional. Now, am I saying that brands should be looking at print as an opportunity right now to get and keep attention? Yes, that’s exactly what I’m saying - having a print content strategy has come full circle, from norm to niche.
The Newsweek move
I’m sure you heard the news that Newsweek magazine is ceasing publication in the print format. SmartMoney recently made the same declaration.
When I have conversations with marketers and publishers about these kinds of moves, I always hear the notion that “print is dead.” Well, I’m here to tell you that there has never been a bigger opportunity for brands in the printed channel than right now.
While I would not want to be in the broad-based, horizontal print game (ala USA Today), highly niche, highly targeted publications are flourishing as a marketing tool. For example, thinkMoney magazine from TD Ameritrade sees about 90 percent of its customers take direct action on a product it sells through the print magazine. The magazine is a true collision of amazing design and provocative information. It’s the type of content that is anticipated by its trader audience. And better yet, since traders are in front of computers all day long, they look forward to the opportunity to disconnect and discover.
Even our own Chief Content Officer magazine has a clear competitive advantage in the marketplace because it’s in print. At a recent event (not ours), three marketing executives came up to me and told me how much they enjoy the magazine and can’t wait until the next one arrives (they didn’t mention our daily digital content… they just mentioned print).
Print is not declining anymore
Most prognosticators say that by 2020 most printed media will be gone. I think anyone who makes those types of comments doesn’t understand history. Just type into Google “The Death of TV” and you’ll see hundreds of articles predicting the end of television. One could make the argument that right now is the golden age of television, with amazing shows like Boardwalk Empire, Mad Men and Homeland leading the way.
The evolution of the internet doesn’t kill off these channels… it makes us look at them differently because they are used differently by consumers.
We are releasing our third annual content marketing study next week. Among the findings, the usage of EVERY channel is flat or up. After years of seeing the usage of print magazines on the downside, we saw no change year-over-year. Yes, marketers, for the most part, have stopped fleeing from the print channel.
Of course, content marketing strategy comes first, followed by channel strategy. But as a content marketer, it is our responsibility to look at all available channels to tell our stories.
7 reasons to rethink print content strategy
Here are a few reasons why there might be an amazing opportunity in the print channel:
1. It grabs attention: Have you noticed how many fewer magazines and print newsletters you are getting in the mail these days? I don’t know about you, but I definitely pay more attention to my print mail. There’s just less mail, so more attention is paid to each piece. Opportunity? The decisions that magazines like Newsweek are making leave a clear opportunity for content marketers to fill the gap.
2. Its focus on customer retention: Sixty-four percent of B2B marketers create original content for customer retention and loyalty goals Historically, the reason why custom print magazines and newsletters were developed by brands was for customer retention purposes. In a recent CMI webinar, Carlos Hidalgo, CEO of Annuitas Group, stated that one of the biggest problems marketers have with their content is that they forget to nurture customers AFTER the purchase decision was made (we have a winner!).
3. There are no audience development costs: Publishers expend huge amounts of time and money qualifying subscribers to send out their magazines. Many times, publishers need to invest multiple dollars per subscriber per year for auditing purposes (They send direct mail, they call… they call again… so that the magazine can say that their subscribers have requested the magazine. This is true for controlled [free] trade magazines).
So, let’s say, a publisher’s cost-per-subscriber per year is $2 and their distribution is 100,000. That’s $200,000 per year for audience development.
That’s a cost that marketers don’t have to worry about. If marketers want to distribute a magazine to their customers, they just use their customer mailing list. That’s a big advantage.
4. What’s old is new again: Social media, online content and iPad applications are all part of the marketing mix today. Still, what excites marketers and media buyers is what IS NOT being done (can you say non-traditional?). They want to do something different… something new. It’s hard to believe, but the print channel is new again and is seeing a rebirth. Could we possibly be seeing a golden age in print, like we are seeing in television?
5. Customers still need to know what questions to ask: We love the internet because buyers can find answers to almost anything. But where do we go to think about what questions we should be asking? I talked to a publisher recently who said this:
“The web is where we go to get answers but print is where we go to ask questions.”
The print vehicle is still the best medium on the planet for thinking outside the box and asking yourself tough questions based on what you read — it’s lean back versus lean forward. If you want to challenge your customers (like Harvard Business Review does), print is a viable option.
6. Print still excites people: I talked to a journalist recently who said it’s harder and harder to get people to agree to an interview for an online story. But mention that it will be a printed feature and executives rearrange their schedule. The printed word is still perceived as more credible to many people than anything on the web. It goes to the old adage, “If someone invested enough to print and mail it, it must be important.”
We’ve seen this firsthand with CCO magazine. Contributors love being featured on the CMI website, but they crave having their article in the printed magazine. It’s amazing how different the perception is of the print versus online channel when it comes to editorial contribution.
7. Print lets people unplug: More and more, people are actively choosing to unplug, or disconnect themselves from digital media. I’m finding myself turning off my phone and email more to engage with printed material. A year ago I didn’t see this coming. Today, I relish the opportunities when I can’t be reached for comment.
For example, our entire family does “electronics-free Saturday.” This means no computer, no iPhone, no Xbox, no email, no Facebook. We’ve been doing this since January, and although it’s been difficult, it’s been an amazing experience for our family. Just two weeks ago, all four of us were sitting in the family room reading books and magazines. We’ve also done much more together, as a family.
If I’m right, many of your customers (especially busy executives) are feeling the same way. Your print communication may be just what they need.
Online content marketing is definitely here to stay. So say “yes” to social media, apps, and the rest of it. But don’t forget that print can still play an important role in your overall content marketing mix.
Print marketing has undergone a paradigm shift.
Over the last few years there has been a big change in the way that businesses market and promote their businesses.
Google, Facebook and digital marketing is increasing rapidly.
While advertising in printed versions of Yellow Pages and many newspapers is shrinking rapidly.
Does this mean that print marketing is now dead?
Not at all.
I personally believe that print marketing (done well) is one of the most effective and profitable marketing strategies that you can use.
Here are some interesting print marketing statistics that are worth knowing:
1: Approximately 2 out of 5 consumers will check out a new business after receiving print marketing from the company. With repeat mailing, this response jumps exponentially, and this method also greatly increases your brand exposure and builds a personal connection with the consumer.
If you send out a few printed items for marketing, you could boost your sales and reputation significantly.
2: Only 2 per cent of consumers do not open their mail on the day that it was received, and this statistic shows why direct mail advertising can be so effective.
Ninety eight per cent of the population opens their mail that day, getting your message and marketing out there as soon as possible.
This fact makes a time sensitive campaign easy to plan and execute.
3: Almost half of the people who receive print marketing in the mail will keep these items for future reference if the products or services are something that they consumer may need later on.
4: More than 90 per cent of younger consumers who shop on a regular basis prefer print marketing when they are researching products and making important decisions on purchasing.
5: Print marketing does not have to ignore new technology; more than 35 per cent of companies integrate QR codes, NFC technology, and other innovative techniques in their printed materials. These components can help consumers find your website and products on the Internet, and provide essential information and answers that consumers may be looking for.
6: According to the Direct Mail Association, companies who use direct mail advertising get a 13 to 1 return on their investment, and this is very impressive when the ROI on other advertising methods are considered. Since this type of campaign is fairly inexpensive even the smallest businesses can benefit without breaking the bank.
I had a chat recently with Shane Devlin the owner of Graphix Explosion one of my favourite printing companies.
I asked Shane if he could share some examples and thoughts about how businesses are using print marketing to boost their sales and revenues.
Let me pass you over to Shane for his comments…
Print marketing - an industry insight: Consumable v Promotional print.
What we have observed is that the real change that leads people to think that print is dead, is that what we call consumable print, eg. letterheads, quotes, envelopes, invoice paper etc. has all but been replaced by email and modern accounting/quoting systems.
This type of printing is a direct cost and if you don’t need it, why would you buy it?
(Every dollar saved in this area of your business is a dollar’s profit.)
Promotional print is a completely different story – every marketing dollar you spend here that makes you more than a dollar, is an investment in your business.
And the more businesses that get confused by this difference and don’t use print in their marketing, the more valuable it will be to those that do!”
Here are two examples of how well promotional printing works…
Example 1: Graphix Explosion.
“We started our printing company in 1995 from scratch (zero customers) with the knowledge that 5-7 points of contact are required before you have any chance of a new client doing business with you.
The quickest and best way we could think of to get our name out there was to print flyers and do a business PO Box and postie drop to every business in the area.
We initially did these flyer drops 6 times a year, and 20 years later, still do 4 flyer drops a year.
The results were instant – not enough to actually recoup our upfront costs, but the lifetime value of a client well and truly makes it worthwhile.
These days we not only get payback, but it always gets us new clients, and prompts existing clients to both re-order and often purchase new products they haven’t ordered before.
We have tried, tested and measured every type of marketing out there, and nothing has come close to being as effective as printed promotional material -flyer drops, notepads, calendars, pens etc.
Example 2: Camelot Group.
They are a nationwide multi-site company offering financial planning and risk services and they are our largest client that still uses good old fashioned branded letterheads, envelopes and labels. With these very simple marketing tools, they use the direct marketing approach to their existing database.
In their General Manager, Tina Evans’, own words:
“We want the logo on show all of the time, so we use branded envelopes as we know that each time a client looks at their mail, Camelot stands out. They will know it is something relevant to their risk or investment strategies and will open it. We use the Camelot logo stickers on our client reward magazines, when our clients have given us a referral they receive a subscription for a year. Each time they receive the magazine it has our Logo on the front, reminding them that they have been rewarded by Camelot for making sure someone else has received our great services.”
Camelot still also reward their clients with a branded calendar.
Depending on quantity, calendars cost between $5 and $10 each fully branded and full colour throughout.
Along with notepads, what else can you think of that is a welcomed gift, and yet is also a piece of blatant marketing?
Summary:
I really like the great insights by Shane on print marketing and how to use it effectively.
You may like to test using print marketing in your own business as well.
‘The printing press is the greatest weapon in the armoury of the modern commander.’ – T. E. Lawrence
Action Step:
Talk to your favourite digital printer and ask them for ideas on how you can market your business using promotional printing.
You’ll be pleasantly surprised at the huge number of affordable ways to use digital printing to boost sales that you may not have considered.
Graham McGregor is a consultant specialising in memorable marketing. You can download his 396 page ‘Unfair Business Advantage’ Ebook at no charge from www.theunfairbusinessadvantage.com.
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Design is a complex and multilayered industry, and just as good design begins about ten steps before pen actually hits paper (or tablet, as it were), neither does it end when the final digital proofs are approved and delivered. The actual implementation of the design must be treated with considerable thought and care as well, if you’re interested in gaining maximum effect from the design itself. The most common implementation questions we come across are often in regards to printing… what finishes to use, what stock, and most often, should we use digital or offset printing?
In the past decade, digital printing has benefited from a surge in popularity… due to a combination of increased affordability, technical advancements, and the availability of more options than were previously possible in digital print. Literally hundreds of new digital print companies have opened their doors online, making commercial print solutions more readily available to everyone. That said, this growth in popularity has also caused quite a bit of confusion for those not “in the biz”, and a few unscrupulous (or plain inexperienced) companies are taking advantage of this confusion… resulting in a large proportion of print consumers walking away with a product that does not meet their needs.
An understanding of the advantages and disadvantages of digital printing versus those of traditional offset lithography, is crucial in making the right choice in your printing company.
MECHANICAL PROCESS
OFFSET: Offset lithography is the most commonly trusted high volume commercial printing technology. In offset printing, the design image is first burned onto a plate, and is then transferred (or offset) from the plate to a rubber sheet, and finally to the printing surface. The lithographic process is based on the repulsion of oil and water. The image to be printed gets ink from ink rollers, while the non printing area attracts a film of water, keeping the non printing areas ink-free.
DIGITAL: If you have a desktop printer at home, you’re likely already familiar with the mechanical process of digital printing. Many of the mechanical steps required for offset printing are eliminated (namely, making films and color proofs, manually stripping the pieces together, and making plates), which results in a much more affordable print solution.
ADVANTAGES OF DIGITAL & OFFSET METHODS
DIGITAL ADVANTAGES:
In general…
1. Shorter turnaround
2. Lower costs for very small print runs
3. Availability of variable data printing (database driven, e.g. mailing lists)
OFFSET ADVANTAGES:
In general…
1. Higher image quality, higher resolution and no streaks/spots.
2. Works on a wide range of printing surfaces including paper, wood, cloth, metal, leather, rough paper and plastic.
3. The unit cost goes down as the quantity goes up.
4. Quality and cost-effectiveness in high volume jobs.
5. Many modern offset presses use computer-to-plate (as opposed to the older computer-to-film system) further increasing quality.
HOW TO DECIDE?
Use this checklist to help decide:
[ ] Quantity
Offset printing has a front-end cost load, which means short runs (low quantities) may have a high per-unit cost. But as quantities increase, the unit cost goes down with offset printing. Very short runs can be more cost effective with digital printing; while larger quantities are likely to have a lower unit cost with offset printing.
[ ] Printing Medium
Do you need or want a special paper, finish or unusual printing surface, or unique size? The options are getting better for digital, but offset printing still offers the most flexibility.
[ ] Colour
Digital presses use four-colour process (CMYK) printing. If you need only black ink or one or two ink colors, offset printing may offer a more cost-effective solution. If you need four-color printing, digital may offer advantages in lower up-front costs. That said, a few progressive modern offset printing companies are now offering rich full-colour printing, with no added plate/setup fees for additional colours.
[ ] Pantone®
If you’re planning to print using the Pantone® Matching System, offset printing will give you the best match, since it uses actual Pantone® ink. Digital printing simulates the color using a four-color matching process, so some digital printers may offer less accurate color matching on projects.
[ ] Turnaround
If you need it fast, digital usually offers quicker delivery. Again though, a few select offset print houses are now offering print turnaround in as short a timeframe as 24 hours.
[ ] Proofing
Digital offers more accurate proofs, since what you see is an actual sample of the printed piece, printed using the exact process as the intended run. For offset printing, if you need hard proofs, stringently accurate colour proofing can become expensive.
[ ] Customization
With the ease of database driven variable data printing, digital printing offers the most affordable way to customize marketing materials, direct mail pieces, letters, etc. with a different name/address or number/code on each printed piece.
OFFSET PRINTING vs DIGITAL, A SUMMARY
Digital printing can be the ideal solution for some people, but in our experience, computer-to-plate offset lithography (combined with respectably high quality stock and finishing) always yields the superior result in print quality. The trick then becomes finding the right partner.
Over the years, we have sampled the services of dozens of local and global print houses, and have painstakingly hand-picked a small selection of partners who put out consistently high-quality product, on time and in budget… with whom we have since developed trade agreements. Not everyone is able to invest this sort of research into choosing the right print partner, but to ensure the best results, we would strongly suggest that you follow these minimal steps:
1. Leave Nothing to Chance
Be very specific with your print company when communicating which stock you want used, which colours, which process (digital vs offset) and what sort of finishing or coating you want on your cards.
2. Get Samples
Before initiating your print project, request samples from your prospective print companies. All reputable print houses have a standing offer of free samples expressly for this purpose.
3. Proof
If you are managing your own print project, and are working with a local firm, be sure to request a pre-press proof before authorizing the full run. This will allow you to confirm that the company understood your specific instructions outlined in item 1 above. It will also allow you a hands-on preview of the final product, so you can catch any imperfections ahead of time. If you are working with a remote partner, be sure to request a digital proof… while this requires an element of trust in terms of the stock and finish, a digital proof will allow you to ensure all visuals are to spec.
In the end, a good design cannot fully live up to its potential when run on a shoddy print job. If you are as careful and selective in choosing a print partner as you were in choosing a design firm, you can ensure that the physical product that actually reaches your partners or customers is of the highest possible quality.
Because all things considered, high quality is precisely the message you want to deliver.
Sage Media is an international corporate design firm based in Ottawa, Ontario.