Many of us know that print advertising is physically printed media. This means things such as billboards, magazine ads, brochures, and so on. Between 2015 and 2019, companies within the U.S. spent roughly $25 billion on print advertising each year.
In order to determine whether or not your marketing efforts are actually assisting the company in enhancing its bottom line, one of the most crucial aspects of a marketing campaign is to evaluate its performance, impact, and profit. This concept is referred to as marketing return on investment (ROI).
Let’s explore these two marketing terms in more detail:
This may come as a surprise to some, but print advertising is still as effective as it ever was! Nowadays, you can target specific audiences with print marketing. This could mean placing articles in a newspaper if you’re targeting an older audience or sending our flyers in the mail to target specific audiences who live in homes or apartments. Don’t believe us? Let’s look at some statistics!
- 75% of consumers said receiving print advertisements made them feel special.
- 73% of consumers said that they prefer receiving print advertisements.
- 33% of millennials alone have an active subscription to a newspaper or magazine, while only 19% report opening marketing emails frequently.
- 82% of consumers trust print advertisements the most when making a purchase decision.
- 69% of people like receiving print advertisements that include coupons for restaurants and 65% like coupons for retail businesses.
- 88% of people take the time to look through the print advertisements they receive.
- 80% of people look forward to receiving print advertisements in the mail.
And as an extra special statistic, there is a 112% ROI on response rates with print advertising!
MARKETING RETURN ON INVESTMENT (ROI)
The practice of attributing profit and revenue growth to the effects of marketing initiatives is known as marketing ROI. Organizations can gauge the extent to which marketing initiatives, whether taken as a whole or on a campaign-by-campaign basis, contribute to revenue growth by calculating the return on marketing investment. For ongoing and upcoming campaigns and initiatives, marketing budget allocation is typically justified using marketing ROI.
It can be challenging to calculate the ROI for conventional forms of advertising. There are methods for tracking how many people see and interact with your online advertisement, but how can you tell if a customer who entered your store or went to your website did so as a result of seeing your print advertisement?
A compelling call-to-action is a crucial element that will enable you to accurately assess the ROI of your advertisement. Before publishing anything, think about what you want readers to do after seeing your advertisement. Do you want them to go to your website? Register for your newsletter? Attend a big event or sale? Knowing what your call to action should be will help you create an advertisement with a compelling message that will persuade the reader to take a particular action.
While figuring out the return on investment for print marketing isn’t easy, we can assure you that partnering with us is! Adventure Media Company is a full-service marketing agency that works with businesses in the hunting, fishing, and outdoor adventure industries. Contact us today for a free consultation!