Anyone who says “print is dying” must not have heard the latest news. Magazine advertising still provides one of the highest rates of return on advertising spend — a whopping $3.14 for every dollar spent on magazine ads, according to Nielsen Catalina Solutions.
And they’re not the only researchers looking into the power of print. While overall subscription numbers have dropped over the past few decades, that means today’s magazine readers are a highly engaged and enthusiastic audience. Current readers are more likely to be passionate about the subject matter, according to the American Marketing Association. Magazine readers choose the gravitas of print, especially in luxury and travel or hospitality markets, because the weight of a magazine is literally and figuratively giving them a window into glossy, full-page visions of dream destinations and aspirational experiences.
For hotel and destinations, it’s a great time to go where your audience is. Reaching out to meeting and convention planners through websites is obviously effective, but a one- or two-page ad in a highly targeted events magazine can yield a meaningful return on ad spend (ROAS).
GfK Panel Services, a global research group that studies return on investment across ad mediums, found that 44% of people who remembered a magazine ad later took action on that ad. And how many magazine readers actually remembered the ads they’ve seen? GfK’s research shows that full-page ads are remembered 71% of the time, while multipage ads are remembered 86% of the time. Not only that, but multipage ads inspired 96% of the readers to engage with the ad.
While it’s true that print won’t deliver the same number of ad impressions as a well-coordinated digital campaign will, it’s also true that ad dollars spent on print are extremely targeted. Magazine readers take action. And when multipage print ads are created, print advertising becomes even more of an ROAS powerhouse.
Forbes surveyed 10 communications executives, members of their Forbes Communications Council, to find out how industry experts see the future of print advertising. Not every expert saw a glowing future for print ads, but many pointed to the fact that magazines have become more targeted and readers have become more invested in the subject matter as the industry has evolved.
Between the more concentrated audience and the proven return on ad spend, magazine advertising is still one of the strongest pillars of a balanced hotel marketing plan.
Ready to Reach a Targeted Planner Audience?
Distributed to 70,000 qualified event planners, the annual Cvent Meetings magazine is a leading resource that features in-depth profiles of luxury venues, as well as insightful articles on best practices, inspiring ideas, and current trends in the meetings and incentives industry. In fact, more than 70% of readers say they keep the magazine to refer to throughout the year. Learn more about feature article opportunities that will keep your hotel or resort top of mind with planners all year long!