Speaking as someone relatively new to the world of media, attending the Newsworks Effectiveness Summit a few days ago provided me with a wide range of insights to the media landscape and how budgets should be apportioned to achieve the best ROI in multi-media packages.
In order to understand the impact of print media on the current media landscape, we need to have an idea where we currently stand. Which is, to put it bluntly, peak complexity. We are in an age where we are bombarded with thousands upon thousands of marketing messages a day across multiple platforms. Old and new media vie for position and market share in an ever more competitive world.
An old analogy is particularly apt for a new problem here; we are floating in a sea of data but struggling to make something useful out of it, particularly in the short timeframes we have to work with.
Recent years have trended toward ‘crack cocaine’ metrics as the context of campaigns have changed…. We have to say something meaningful about a campaign before we can really understand what has happened. This leads to a blurring of the campaign objectives and important long-term insight missed for short term gain. We need to move from all these metrics to models. Long-term brand health isn’t built on short-term optimisation.
The day’s talks were based around three studies commissioned by Newsworks. They looked into the impact that print media plays in integrated advertising campaigns, including how current metrics for measuring brand health can lead to better planning and higher ROI across other print AND other media channels.
There were a number of key points to highlight from the talks:
- Print is the most effective single news brand platform for brand building, driving an average 5% uplift in brand health measures.
- A campaign with print and digital newsbrands produces results 3.4 times better on brand health measures.
- Newsbrands boost the business effectiveness of other media: TV +65%, online display +53%, social media +118%.
In most cases it is an example of 2+2 = more than 4, when the media channels are effectively planned to complement the data.
To summarise the event into a couple of simple points:
- Not all media is born equal, different combinations will have different impacts.
- The future of effectiveness is uniquely digital….Wrong! Print media is the key multiplier in achieving the highest ROI and effectiveness.
- According to the studies presented, print spend should return to 2013 levels, as this was the time when spend was at its optimum.
The presentation has since been followed up by more than 10 full page insertions across a range of newspapers extolling the virtues of print as a valuable media channel.