Despite smaller readership figures, print advertising in both newspaper and magazines is performing consistently higher than their online counterparts and are much more effective way of advertising to high net worth individuals and is better able to reach high-income households in general than other types of advertising. Print advertising is also considered to be one of the most trustworthy forms of advertising among adult consumers overall
In fact, USA Today readers alone accounted for almost 2 billion in merchandise spending in the first 3 QTRS of 2015 and boasted a readership with a median household income of $158,001 for their readers.
Research also shows that the higher the income the more likely a person is to engage with and trust print advertising over its digital counterparts. Even more astonishing is that print adverting in newspapers ranked the highest among the top platforms among millionaires, in terms of engagement potential at an astounding 74%.
In a study from 2014, it was noted that “Traditional media are alive and well in the land of the wealthy, as TV and printed publications (both newspapers and magazines) remain among the top advertising platforms to reach upscale consumers, especially millionaires. And, notably, printed newspapers are ranked at the top of the list of ad channels for millionaires regarding their ability to engage the wealthy ” Shullman Research Center
The Shullman research center also found that 50% of all people with a personal net worth of over $1 million had been engaged with an ad from a print publication they had read in the last 30 days. Overall research found that high net worth individuals were very likely to be active and engaged with print advertising on a regular basis. Research indicates that 67% of adults showed considerable interest in print advertising they had seen in a print publication in the last 30 days alone.
“ It’s not about how many people see your ad, it’s making sure the right people see your ad that counts,” said Account Executive for MCA-Russell Johns Doug Knowles. “ I want to make sure all my clients put their ad in front of their prime target audience. The majority of my clients want to reach high-income households or consumers who are 55+ because they the current most active, highest-earning “ consumer group.” ( Knowles represents a variety of publications including USA Today, Globe, Examiner, National Enquirer, and Healthy Living among many other well-known titles. Print Advertising through credible niche publications is a great way to reach an active consumer in a credible environment.
One of his most successful clients that he is most proud of, is a nationally known lawn care brand with a franchise opportunity when Doug first began a relationship with the widely known lawn care franchise they had used print before in the past and were unsuccessful. Doug took that as a challenge to show them the value of print advertising and reaching the affluent audience that they needed. To meet their needs He introduced a regional program that has effectively help them achieve their prime target audience and gain sales while achieving a high ROI.
Author H. Iris Chy wrote in her 2013 book “Trial and Error: U.S. Newspaper’ Digital Struggles Toward Inferiority” that print publications would do best to reinvesting in their print products because it would be beneficial for advertisers as well as readers. She says in an October 2015 interview in Media life Magazine that, “ To almost everyone’s surprise, the supposedly dying product (print) still outperforms the supposedly promising digital products by almost every standard — readership, engagement, paying intent, and advertising prospects… Digital news is perceived by users as an inferior good, like Ramen noodles. Ramen noodles are convenient and useful. But “digital-first” publishers seem to believe their digital content is steak, thus the unrealistic strategy and disappointing performance. Selling news is not easy; selling news online is only harder.”
In fact, when advertising to high net worth individuals Chy goes onto note that despite the overwhelming amount of data we are uncovering that print is performing better by far. Despite support from empirical data, many people have found my “Ramen Noodles Theory” hard to swallow.” She goes on to note that “ This is understandable because everyone (me included) once had high expectations for the internet as a news platform. But again, after 20 years of experimentation, as a scholar, I am just presenting the reality as is”
Additional reports done by another consumer reporting group concluded that print publications that included editorial content such as newspapers were trusted by 67% of all adults and were the best media to reach high-income households. In addition, advertising found in newspapers and in magazines continue to be among the most trusted forms of paid advertising that there is today. (Neilsen) Even more surprising, other forms of advertising like radio were only shown to be trusted by 57% of adult consumers and even brand sponsorship still comes in below prints trust-ability at 61% of adult consumers.
For more info on how to reach your target audience or reach high-income household with Print Advertising contact us to speak with one of our expert advertising advisors