Print is a vital component of advertising, major study reveals
Published 18/05/2016 | 02:30
Print ads have driven a quarter of all sales delivered by media, according to new research.
And every €1 spent in print advertising returns up to €39 for the retail sector, according to the research commissioned by Independent News & Media in conjunction with Ignite Research.
To establish how important the print channel was in the overall marketing mix, INM commissioned an Econometrics study which spanned three years of research across 20 million data points.
The data, launched at a breakfast briefing for executives and agencies yesterday, shows that the print channel continues to be a pivotal element in the marketing mix, despite the rise of digital, delivering a significant return on investment across all key sectors.
At yesterday's launch, 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," Mr Pitt said.
Key findings from the research include:
• Print advertising drives 25pc of all sales delivered by media.
• Print advertising also acts as an influential conduit driving customers to other channels.
• On average, 10pc of landing page visits are delivered by print advertising.
• Print advertising returns up to €39 for every €1 spent for the retail category.
• In the retail sector, print advertising is up to 1.5 times more effective than radio advertising in delivering return on investment.
• Print advertising is up to twice as effective as TV advertising in delivering return on investment in the automotive sector.
• 38pc of test drives in the motoring industry are as a direct result of print advertising.
• Print advertising returns up to €35 for every €1 spent in the travel sector.
• Every €1 spent in print advertising returns up to €8.10 for the finance industry.
• About a fifth of travel sales are achieved through print advertising.
INM also yesterday launched its new Customer Research Strategy, carried out in association with Amárach Research, based on more than 13,000 face-to-face interviews with newspaper buyers, at the point of purchase, over the past 12 months.
It's thought to be the most comprehensive research project that has been carried out to date into the media industry in Ireland.
In terms of the INM titles, the research found that readers spend 70 minutes reading the Irish Independent and 101 minutes reading the 'Sunday Independent' against an industry average of 66 minutes.
And 83pc of Irish Independent newspaper readers said they buy the paper as often as they ever did.
The research also found that readers score INM's magazines and supplements between 70pc and 90pc for relevancy.
Karen Preston, Group Advertising Director, said deeper customer insights enable INM to produce better products for its readers.
"In recent years much of the conversation around print has been about its decline, however this extensive research demonstrates that the print channel plays a significant role in the marketing mix and cannot be underestimated in any manner," Ms Preston said.