Many experts are questioning how viable the print product is. Some stories greatly exaggerate the demise of this medium.
Circulation declines in magazines have eased slightly from previous years. Consumers are still cutting back on subscriptions as a mean to maintain a budget balance as the recession continues to put pressure on personal budgets that are already strained.
However, the real bright spot, thanks to technology, is that smartphones and tablets are spurring demand for content on these mobile devices. This provides optimism that growth can be realized and monetized on these devices.
Some advertisers have reduced frequency of ads within magazines. However, several categories are maintaining and/or increasing spending within this medium. Financial, insurance, real estate, cosmetics, and personal products are the sectors with spending gains. Financial and insurance sectors are also driving some of the inventory demands on television as well.
The attractiveness of magazine advertising is really its ability to attract an affluent audience. Granted, magazine readers tend to skew older. However, these affluent readers’ median household income in 2011 was $91,846 according to Mediamark Research.
As such, small-business owners marketing products to mature adults should not discount the impact of magazines, especially since circulation declines are stabilizing. Ensure that your communication messages extend to smartphones and tablets. Tablet users are growing and with the introduction of Apple’s iPad mini, this will continue to generate demand for content on these devices. Plus, these devices will also garner younger consumers.
It appears that one can always find a new use for an old item. Magazines and newspapers too, are breathing life back into an established industry thanks to technology devices. So don’t count out the old and established—this medium has gotten its second wind.
Adele Lassere is a marketing/advertising consultant with 20+ years of experience, freelance writer, and author of “Elements of Buying: A How To Reference Guide on Advertising for Business Owners,” available on amazon.com. Adele was listed on Black Enterprise’s 2011 Top Execs in Marketing & Advertising. Contact: firstname.lastname@example.org
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