+ February 6, 2019
A brief look into the Print Industry
The importance of print as an advertising channel is still high. The rise of digital has affected the way that publishers are functioning, however at the core many still have a print based system for a reason. Stats help to maintain credibility towards print, showing a favour to brand building for clients through print-based titles. People are 70% more likely to remember businesses seen in print compared to online, with 61% of customers trusting adverts in newspapers. This trust element is huge, especially when compared to digital, with the the term “fake news” consistently being thrown around.
However, many publishers have had to adapt, with people always on-the-go and the shift towards the massive use of the mobile. A survey from PubMatic and Forrester found that advertisers are spending 45% of their budgets on mobile, split evenly between web and in-app. This has meant many of your traditional publishers have continued developing an online platform, where they can share content. For newspapers this is very prevalent, with news becoming very on-the-go. Some have used this model but still maintain a pay wall for information, like The Times. Others rely on donations such as The Guardian. They all however have made adjustments in some way or another, and continue to have a model online and offline.
There has been a shift therefore in the way publishers make money, and how they are going to continue as profitable businesses. Many have gone towards a subscription-based model. This way they have a consistent cash flow of money, with a loyal fan base of people whom they know are interested and connected with the information. This in-tern makes the dwell time on these subscription-based publications higher. Bringing this back around to an advertising point, this is fantastic for advertisers. If they have a relevant piece of content for the publication, such as the Craig and Rose print campaign we launched in Homes and Interior titles such as World of Interiors, people are going to be more interested in that ad as it is relevant to them. This idea of choosing a piece which is contextually relevant is huge. I think it is just as effective to advertise next to a contextually relevant piece of content as it is getting front half. If you place an ad next to relevant content, you know the people reading that content are therefore more likely going to be interested in the ad you are placing.
Print therefore still has a case, with people still showing a willingness to buy into a subscription for a newspaper/magazine, and people willing to break a pay wall to receive content. Publishers have adapted to no longer rely on advertising for revenue. This comes with premiumisation of the print industry itself, with trust being upheld and a level of integrity towards the ads, with advertisers also still seeing the benefits.
Print advertising still has great credentials for any business, as long as it utilised correctly.
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