INM launches Ireland’s largest industry research study
Every €1 spent in print advertising returns up to €39 for the retail sector, according to new study commissioned by Independent News & Media
17 May 2016 | 0
New research published by Independent News & Media (INM) reports that every €1 spent in print advertising returns up to €39 for the retail sector. What’s more, the study also found that when readers come into stores to buy an INM newspaper title, they spend an average of €12.69.
INM revealed key research findings from its new Customer Research Strategy at the Marker Hotel, Dublin earlier today.
The news and media group states its new Customer Research Strategy led to the most comprehensive research project that has been carried out to date in the media industry in Ireland, with 13,000 face-to-face interviews with newspaper buyers, at the point of purchase, over the past 12 months. Developed in association with Amárach Research, the study provides unique insights into the contemporary newspaper buyer market.
Interesting statistics for newsagents include the fact that readers spend 70 minutes reading the Irish Independent and 101 minutes reading the Sunday Independent, against an industry average of 66 minutes.
The research also states Irish people have a strong emotional attachment with INM’s newspaper brands through its supplements, with readers scoring them between seven and nine, (where 0 = don’t care if you read it and 10 means you couldn’t go a week without reading it). What’s more, 83% of Irish Independent newspaper readers reported buying the paper as often as they always did.
INM also wanted to establish how important the print channel was in the overall marketing mix, hence the commission of an Econometrics study, over three years of research across 20 million data points. The study carried out in association with Ignite research shows the print channel continues to deliver a significant return on investment across all key sectors.
AT A GLANCE: KEY FINDINGS
– Print advertising drives 25% of all sales delivered by media
– Print advertising also acts as an influential conduit driving customers to other channels:
o On average, 10% of landing page visits are delivered by print advertising
o On average, 20% of pay-per-click sales (PPCS) originate from print advertising
– Print advertising returns up to €39 for every €1 spent for the retail category
– In Retail: Print advertising is up to 1.5 times more effective than radio advertising in delivering
return on investment
– Print advertising is up to twice as effective as TV advertising in delivering return on investment
– 38% of test drives in the motoring industry are as a direct result of print advertising
– Print advertising returns up to €35 for every €1 spent in travel
– 21% of online travel sales are achieved through print advertising
– 10% of total travel online visits are driven by print advertising