Quarter of all sales delivered by media driven by print advertising - new INM research
A quarter of all sales delivered by media are driven by print advertising, 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.
The publisher launched its new Customer Research Strategy at the Marker Hotel in Dublin this morning, which was attended by 140 executives.
The study, carried out in association with Amárach Research, was the most comprehensive research project that has been carried out to date in the media industry in Ireland, with over 13,000 face-to-face interviews with newspaper buyers, at the point of purchase, over the past 12 months.
INM also wanted to establish how important the print channel was in the overall marketing mix, and therefore commissioned an Econometrics study, carried out in association with Ignite Research, which spanned three years of research across 20 million data points.
The data shows that the print channel continues to be a pivotal element in the marketing mix, delivering a significant return on investment across all key sectors.
At this morning’s launch, INM Chief Executive Robert Pitt said advertising businesses and brand names cannot afford not to be advertising 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 Retail, 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
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 buy the paper as often as they always did.
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.