All the indicators are that digital advertising across all channels is set to exceed 60% of global ad spend in 2022. More businesses are investing in new ecommerce tech, heavier promotion of ecommerce generally, and increased advertising through ecommerce platforms.
The result is that we now have a global ad spend that’s forecast to expand by 5.7% in 2023 and 7.4% in 2024, with brands looking to leverage more social media, more online video, more advanced TV, and more ecommerce channels.
According to Zenith’s Advertising Expenditure Forecasts report, social media will overtake television next year and become the fastest-growing channel between 2021 and 2024, with an average annual growth rate of 14.8%, closely followed by online video at 14.0%.
What happens to print in this growing digital torrent?
Newspaper and magazine ad spend have plunged to levels not seen since the mid-80s, with print forecast to decline by 4.7%. And while it might sound as though print is on the way out, the reality is that even in a digitally saturated world print can still be highly relevant.
The evidence shows that print can deliver better results than email marketing, and can often be more cost-effective.
Print can do things that digital can’t.
It can deliver better brand recall – 70% higher in participants reading print compared to digital, and takes 21% less cognitive effort to process than digital media (5.15 vs. 6.37), suggesting that print is both easier to understand and more memorable.
73% of people say they prefer receiving print ads because they can read them when they want, while 75% of people said receiving a printed ad made them feel special. And 61% of people polled said they trusted newspaper ads compared with 42% who trust online ads.
It’s not hard to see that there are fewer distractions when focused on newspaper content than when you’re presented with a constant stream of digital information vying for your attention.
You can even track your print ads simply by adding a unique URL or PURL, using a promo code, a call tracking number, or a QR code, so you know who is responding to what, and how well your print ad campaign is doing.
Making a strong case for print.
In a recent ad from British Gas, one of the UK’s largest brands, the company needed to put out an emergency message addressing a miscommunication on what the energy price cap on bills really meant. They decided that the best way to get the message across was through a full page spread in a newspaper.
Just a few simple lines of type, but thanks to the choice of media there’s no denying it made a big impact.
Print as a key component in your marketing plan.
While we’re not advocating you put all your marketing eggs in the print basket, we reckon the advantages of adding printed elements to an integrated campaign, together with digital platforms such as social media, PPC and SEO, can prove the most impactful way of getting your marketing message across.
Let’s not forget that effective marketing isn’t about what makes most noise, it’s about what works best.
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