"Doing business without advertising is like winking at a pretty girl in the dark;
You know what you are doing, but nobody else does."
- Stueart H. Britt
...or if you're a cynical anti-capitalist: Manipulating the minds of Americans through the dissemination of corporate propaganda. :D
INDUSTRY THOUGHTS AND INSIGHTS
RIP Ye Ole GRP - 2.20.21
As consumers watch more and more video on more and more devices, multi-screen measurement becoe increasing important. The shift in video consumption habits will underpin a move away from traditional methods of measuring viewership and toward metrics that include more media channels.
Therefore, it's safe to not say we need to move away from transacting on GRPs and toward an impression-based model. GRPs are an estimate of potential reach and do not survive in an one-to-one impression-based measurement world.
C'mon TV...catch up!
P.S. And don't get me started on the Metheringham formula!
MAGAZINE ADVERTISING: MYTH VS. REALITY (7-1-13)
Myth: Magazines help me build my brand, but are not key to drive purchase intent.
Client-commissioned studies show magazine ads bested TV and online ads in boosting purchase intent.
Magazine Advertising is an effective form of "image branding" your business or targeting a specific audience though trade magazines.
Myth: New media lead in driving web behavior.
Reality: Magazines excel at influencing consumers to start a search online.
Myth: Online and TV provide results most consistently.
Reality: Magazines perform best overall across the purchase funnel based on 52 client-commissioned studies.
Myth: Millennials and Gen X’ers don’t read magazines.
Reality: Readership for adults18–34 continues to be strong.
Myth: Magazine websites aren’t that valuable.
Reality: Video on magazine websites led in driving consumer visits to a store and to a company’s site.
Myth: TV is the best medium at driving “actionable” web traffic.
Reality: Print ads led at driving “actionable” web traffic.
Myth: Online is the only medium with growing reach.
Reality: Magazine users have grown over the past five years at a higher rate than users of all other media except online.
Magazines Most Consistently Deliver ROI
Magazines are the most consistent medium in driving purchasing results
Magazine advertising bests TV and online advertising in boosting purchase intent
Magazines out-perform other media at influencing consumers to start an online search
Print ads rank as the #1 offline source in driving “actionable” web traffic
Video on magazine websites led all other media in driving consumer visits to a store and to a company’s website
Magazine users have grown over the past five years at a higher rate than the users of all other media except online
WHY MAGAZINE ADVERTISING? (2-19-13)
Magazine ads last: Consumers refer to magazines multiple times - even saving them, giving advertisers the opportunity for added exposures.
Magazines target efficiently: With a range of titles that appeal to specific demographics, lifestyles and interests, advertisers can hone in on the targets that fit their needs.
Magazines sell: Multiple studies have demonstrated that allocating more money to magazines in the media mix improves marketing and advertising ROI (return on investment) across a broad range of product categories.
Magazine readers generate results: Magazine advertising spurs readers' actions - from changing their opinions to making actual purchases.
Magazines provide reach - faster than you might think: The average magazine consumes almost two-thirds of its audience within a month's time.
Magazines supply credibility: Consumers trust and believe magazine advertising more than advertising in other media.
There is constant talk of engagement in print media circles, while at the same time the digital world is now obsessed with "Likes." Print, arguably the most measured, researched and audited medium, is having a hard time proving its value to marketers who are intrigued by the immediacy and quantitative benefits of digital. (Just becasue you can count it, doesn't mean it's working.) Single copy newsstand purchasers and paid subscribers to magazines vote with their wallets and should be valued for their proven engagement - not to mention the credibility and high journalistic standards demanded of its writers, editors and experts.
The Fallacy of Click-Through-Rates (1-2-12)
According to Felix Salmon of Reuters, "It's a known fact in advertising circles that only idiots click on ads -- and yet advertisers still think that click-through rates mean something, and that a higher click-through rate means a better ad. It's the measurement fallacy: People tend to think that what they can measure is what they want, just because they can measure it. And it's endemic in the online advertising industry."
Net vs. Gross (12-30-11)
Okay people, it's the year 2012 in the Gregorian calendar and we are still quoting rates in gross (includes 15% agency commission). These rates and their rationale are antiquated. The original 15% was paid to "agents" who worked on behalf of the newspspapers to run ads for their clients. Very few, if any, agencies still collect the generous 15% from their clients anymore and so media vehicles who still quote rates in gross are merely creating continued opportunities for rate discrepancies and confusion. Net is already the standard in new media; traditional media needs to catch up!
Calculators will survive so now is the time to eliminate this outdated system.