"In exploring how magazines are treated in econometrics, we are able to demonstrate that correctly distributing magazine audiences over time leads to an uplift of 19% in magazine ROI." ~ Mindshare UK Business Director – Intelligence, Jim Jarrett
Minneapolis, Minnesota (PRWEB) December 03, 2012
A study performed in the UK for magazine publishers by Mindshare and Professional Publishers Association (PPA) shows the effectiveness of magazine advertising. Magonomics investigates the performance of print magazine brands in both driving relationships between advertisers and consumers and inspiring their buying decisions - cost efficiently. The study results were revealed at the Science Museum on November 16th, after analyzing econometric data from 77 campaigns with advertising spend of up to £6m.
The hard facts revealed magazine returns on investment (ROI) figures that were so far over other mediums, that it was coined "advertising’s often-underestimated" contribution to driving sales. The study was carefully crafted to analyze magazines separate from newspapers to highlight the precise value they perform to traditional print within a media campaign.
Eric Sims, owner of Integral Media says, "Mindshare and the PPA use data and analytics to collect, analyze and present data to deliver budget allocation and return on media investment to advertising clients and advertisers around the world. We find their determinations often correct common perceptions. More than of mere interest, their insights help lead Marketers globally to deliver higher ROI to businesses."
Terms That Help To Understand A Marketers Language:
- Econometric - extracts simple relationships between economics, mathematics, and statistics.
- Magonomics - examines the role of print magazine brands in driving bonding between advertisers & consumers and influencing, cost efficiently, their purchase behavior.
A statement directly from the head of research at PPA, Marius Cloete, was poignant: "Our work with Mindshare and Ohal has conclusively shown just how powerful, and frequently underestimated, magazines’ ability are not only to get consumers closer to brands, but to make a substantial contribution to an advertiser’s bottom line when deployed and measured appropriately". Mediaweek UK reported that, “Mindshare also discovered that the gains made by reallocating budget to magazines were far greater than the losses from the host medium.”
Magonomics Study Key Findings Include:
1) Marketers Are Critical Influencers - A correlation between printed magazine investment and high bonding scores - the most critical influencer of purchase behavior.
2) Advertising Increase Sales - In the campaigns analyzed, magazines show a higher average ROI than any other media channel involved, including television, internet and newspapers.
3) Magazine Double Benefits - The study shows that, for the brands included, magazine budgets had to be at least doubled before magazine ROI dropped to the same level as television.
4) It Pays To Increased Magazine Media Allotment Spending - A series of diminishing return curve and media reallocation analyses show a consistent overall increase in sales when magazine media are deployed at higher spend levels (but within the same overall budget).
Jim Jarrett, business director of intelligence at Mindshare UK, explained how they examined magazines' measurement in econometrics to assess performance in the long run. Knowing that magazines do not deliver their entire audience in one ‘easy to pinpoint’ moment, it was a more complicated study. "In exploring how magazines are treated in econometrics, we are able to demonstrate that correctly distributing magazine audiences over time leads to an uplift of 19% in magazine ROI." said Jarrett.
Correctly distributing magazine audiences is a thrilling experience for integrated media buyers. "We consistently surpass client expectations when it comes to print media because there are so many misconceptions about it," says Sims.“
The study observed quantifiable improvements in ROI among those exposed to print magazine advertisements. Marketers who utilize actively engaging magazine advertising that successfully contributes to the overall media mix help drive brand appeal. Television networks and web advertising controlled media appeals to some more than others. Advertisers are interested and concerned that the mass media attract consumers and communicates content that is amenable to consumption. However, the determinate factor is what produces the best ROI. Magazine advertising yields the highest substantial contribution to an advertiser’s bottom line when deployed and measured appropriately.
Call Integral Media at 952-470-5254 to engage marketing consultants who lead wielding the impact of magazine ads and their effectiveness in promoting brands.