Every €1 spent on print ads returns up to €39 for retail
A quarter of all sales delivered by media are driven by print advertising, according to new research.
Two major studies by Independent News and Media also found that every €1 spent on print advertising returns up to €39 for the retail sector.
The studies, conducted with Amarach Research and Ignite Research, were based on more than 13,000 face-to-face consumer interviews and three years of data collected from around 20m data points.
Their aim was to gauge the value of print to advertisers in light of the changing media landscape and new consumer habits.
The research found that the print channel continues to be a pivotal element in the marketing mix, delivering a significant return on investment across all key sectors.
Print advertising is up to 1.5 times more effective than radio advertising in delivering return on investment for the retail industry, the research found.
It is up to twice as effective as television advertising in delivering return on investment for the motoring sector.
Some 38pc of test drives in the motoring industry are as a direct result of print advertising.
For travel advertisers, it returns up to €35 for every €1 spent. Just over a fifth of all travel sales, and one in 10 visits to travel websites, are achieved through print advertising.
The research also gauged how much time consumers dedicate to reading INM newspapers - the Sunday Independent, Irish Independent, Sunday World and Herald. Over 1.2m INM newspapers are sold every week, reaching around 2.4m people when combined with Independent.ie.
Readers spend 70 minutes reading the Irish Independent and 101 minutes reading the Sunday Independent against an industry average of 66 minutes. Some 83pc of Irish Independent newspaper readers said they buy the paper as often or more often than they did before.
At a launch event in Dublin last week, INM chief executive Robert Pitt told marketing executives that their clients need to have their brands advertised in print.
"If you're not in print, and you're not in print with a strategy that goes across digital media as well, and other channels, you're letting your customer down," he said.
Print advertising spending saw significant growth last year as the economy recovered, its first annual increase since 2007.
National newspaper groups collected €164.5m in advertising revenue from their print and digital editions last year, up 5.5pc on the year before, figures from NewsBrands Ireland show.
Spending by advertising agencies rose 8pc to €98.4m, while the other €66.1m in revenues was generated from direct advertising such as property and recruitment.
Spending on all types of advertising is expected to grow by a tenth this year as Ireland's economy expands at the fastest pace in Europe.
It should be the first year of double-digit growth since the recession.
Sunday Indo Business