Winter 2012 The brand adoption pYramid Selling products or services is not easy, as anyone in sales can confirm. Sales rarely happen with the first contact; it takes multiple contacts to move a prospect along the way towards a sale—and that can be expensive. Here’s a diagram that might help you to make sure your marketing efforts in 2013 are reaching prospects at every phase of the brand adoption process. Qualified, high-yield prospects tries to practice these same principles. Preference to contact a specific company Awareness: Ads in conference publications Positioning of the product versus competitors ht ® yrig Cop Monthly editorial previews Preference: Sales calls by Physics Today sales reps ved. eser ts R Righ Awareness that the product exists . All ates soci & As Akel artin 2, M 201 Perceptions of what the product stands for Perceptions: Technical ADvantage newsletters Positioning: Sponsoring exhibitor lounges at 5 trade shows each year, where costs range from $10k - $15k per conference. Full universe of current and future prospects The brand adoption process begins by addressing the full universe of potential customers. This is the important step of “filling up the funnel”; without a steady input of new prospects, sales leads at the top of the pyramid dry up. Advertising is THE most effective and inexpensive Renewal deadline for online ads was November 1 means of creating this awareness and positioning your products vis-à-vis competitors. Marketing products that have a large reach and low CPM include advertising in print, online, and in e-mail alerts. Marketing products that produce the most qualified, high-yield prospects are conferences and sales calls. These efforts permit discussion and depth of impression per contact, however they are also much more expensive per contact than advertising. When planning for 2013, please contact your Physics Today sales rep for an individual consultation. It’s time for a conversation. Contact your sales rep now to renew any e-mail alert ads or BrandBlock weeks you had in 2012. On November 1, your spots were opened up to all companies first-come, first-served. Buyers Still Rely More on Print G TA LKIN Points B-to-B Magazines Lead the Pack. B-to-B Media Used on a Weekly Basis (print) Print Websites eNewsletters Text/SMS 82% 40% 30% 17% Websites on a mobile device 16% Apps on a mobile device 12% Social Media 9% Just about everyone agrees that the media market is overcrowded. Buyers are overwhelmed by the vast amount of information that is communicated daily and by the dozens of digital and technology options that are available to access information. Just about everywhere they turn, buyers are inundated with some type of message, new technology, or new product. And while there is certainly a broad spectrum of options from which to access all this data, buyers still consistently turn to print for insight and guidance on professional and purchasing information. B-2-B Magazines Rank on Top According to a study entitled,“Improving Marketing Effectiveness,”publications ranked as the number one means of accessing professional information out of fourteen information sources. More importantly, print was the only traditional information source, and it ranked on top when compared to the other digital and technology alternatives. More than 80% of buyers claim they regularly rely on trade magazines to access professional information. According to the study, buyers typically were interested in obtaining information about new products, unique product features, and product comparisons when accessing information in publications. Buyers continue to remain loyal to the print medium because it’s credible and easyto-use, and it’s packed with valuable information. Trade Magazines.............................................................81.1% Ads Provide Useful Information (Top 3) Print Radio Internet Trade Magazine Websites..........................................56.6% Digital Magazines/Apps.............................................50.0% 49% Supplier Websites...........................................................50.0% eNewsletters......................................................................43.7% 37% Webinars..............................................................................32.6% Buyers often begin their product search with publications. Nearly six out of ten buyers believe that publications are a great source for learning about new items and products for their professional and personal lives. After reading and uncovering new ideas and products, many buyers often move to magazine websites to find out even more about advertisers and their products. One study found that print ranked on top for ads that provide useful information about new products and ads that provide information about how new products are used. 55% 55% believe print ads help them learn about new products Second B-to-B study points to magazines, too. A second study that looked solely at business-tobusiness media also found that publications lead the pack. According to the American Business Media study, print continues to dominate other media as an information source, even among buyers under 45 years old. The study tracked media usage among 15 leading business-to-business media channels; b-to-b magazines came out on top by a wide margin. (See chart left column.) The evidence is in and the facts are clear: buyers still rely more on print. LinkedIn................................................................................31.1% 36% Message Boards/Forums............................................26.0% You Tube..............................................................................24.7% Facebook.............................................................................22.7% Blogs.......................................................................................16.9% Podcasts...............................................................................11.4% Twitter....................................................................................10.7% List Services...........................................................................5.9% Sources: Improving Marketing Effectiveness, Josh Gordon & Associates, 2012; Deloitte’s State of the Media Democracy Survey, Fifth Edition, Feb., 2011; 2012 Media Channel Study, American Business Media, 2012. Publications offer the most vibrant format in which to display a product and communicate a sales message. The bright, four-color pages of magazines attract attention and entice buyers to find out more. In fact, the format and vitality of magazines have enabled the medium to compete in a world that is increasingly digital and more overcrowded than ever with media options. Loyal publications readers – including young, tech-savvy readers – continue to turn to publications, and they continue to take action after exposure to print advertising. First in grabbing attention Magazines are ranked number one in attracting attention when compared to other media and sales opportunities. Eight out of ten buyers claim they purchased a product or service after seeing or reading something in a magazine. One study found that out of 36 different media channels and venues where buyers are exposed to advertising, publications ranked on top in terms of the number of buyers who had interest in the advertising. The study found that more buyers were exposed to the advertising in publications, too. TA Points Advertising Effectiveness by Position 1st Quarter of Book 61% 2nd Quarter of Book 61% 3rd Quarter of Book 62% 4th Quarter of Book 62% Driven to the Web After exposure to print advertising, publication readers are far more likely to go online than non-readers and are twice as likely to make an online purchase. They are tech-savvy, social networkers who continue to combine the print format with their many online activities. Seven out of ten buyers posted a publication ad on Facebook. Print media channels buyers to many digital buying opportunities. Magazine Readers Used the Internet vs. G Print Readers are Action -Takers LKIN Non-readers Purchased Online No. 1 for Interest in Advertising Top Five Media Among Those Exposed to Ads 1 Magazines...........................62% 2 Newspaper..........................59% 3 Radio..................................55% 4 Internet...............................51% 5 Direct Mail..........................40% Readers 83% Six out of Ten Take Action After Exposure to Specific Print Ads Non-Readers 77% 60% Readers 43% Non-Readers 21% 77% made purchase sparked by magazine Action-takers When print readers are exposed to advertising, they not only pay attention to it, they take action on it. According to one study, 54% of buyers noted an ad in the last issue and an incredible 61% took action after exposure to specific advertising. These were not simply the biggest and brightest ads in the front of the issue. While cover positions always offer prominence and higher than average recall scores, high recall and action-taking scores are consistent for all run-of-book positions in all four quadrants of the magazine...from front to back. Print readers are action-takers who respond in many ways to the publication ads to which they are exposed. Some purchase a product or service. Others change the way they perceive a specific advertiser. Others go online to find out more. And still others recommend the product or clip and save the ad for future reference. Print readers are action-takers, and print provides a significant selling opportunity to advertisers. Sources: GfK MRI Starch Advertising Research, January – December 2011; Ipsos Mendelsohn Affluent Survey, 2010; “THE CONVERSATION” conducted on behalf of Hearst by Russell Research, 2010. Took any action....................61% Considered product..............22% More favorable opinion of advertiser.........................21% Gather more info..................16% Recommend product............14% Visit website.........................13% Purchase product.................. 9% Save ad................................. 8% Visit salesperson................... 8% AIP One Physics Ellipse College Park, MD 20740 Art due for the January issue of Physics Today Bonus distribution at Biophysical and SLAS January 2 Art due for the February issue Bonus distribution at Photonics West February 1 Art due for the March issue Annual APS March Meeting issue—the largest issue of the year! LKIN G TA December 3 Points Publications are in last place... …In all negative categories when compared to six other major media including the Internet. Print’s Positive Perception Magazines are so well-received by buyers of all ages, and print advertising continues to be the preferred advertising vehicle. Everyone knows that buyers are connected to their phone apps, email, social networking sites, and dozens of other digital options, but even so they remain faithful – and even prefer – the print medium. Print is resilient even in a digital marketplace. Trustworthy, inspirational…my time • Last Place – Lack credibility. • Last Place – Ads are too repetitive. • Last Place – Ads are all alike. Buyers continue to trust the print medium, more so than any other major media. The printed word has long commanded attention, and it continues to do so even in today’s digital era. When directly compared to broadcast media and the Internet, buyers far and away trust publications more than the other major media. This is true for adults of all ages, including young adults. Viewed as Trustworthy Publications Internet Broadcast Sources: Experian Simmons Multi-Media Engagement Study, Spring 2010; “THE CONVERSATION” conducted on behalf of Hearst by Russell Research, 2010; Affinity’s VISTA Service, 2011; GfK MRI, Fall 2010. 100 94 93 Buyers are inspired by the content in magazines. They typically describe publications as life enhancing and inspirational. Buyers have a special affinity and connection with magazines that other media cannot create. Seven out of ten buyers claim that time spent reading publications is considered “my time.” Viewed as Inspirational Publications Internet 100 79 Broadcast 85 69% Reading Magazines is My Time Low Negatives. High Positives. In a time when buyers are overwhelmed by the number of media messages that invade their lives, print remains the medium with very low negative ratings and very positive perceptions. When measured in terms of perceived negative drivers like “no credibility,” and “inconvenient or repetitive advertising,” magazines had the lowest negative ratings. They scored exceptionally high though on one very important positive driver: enjoyment. Print has withstood the test of time…and still remains on top. 64% Enjoy Reading Magazines