5 Reasons We Love Print
Online and email marketing are great tools for reaching specific customers, at specific times, with specific types of messages. But print remains the bedrock of any great marketing campaign.
Here are 5 print marketing statistics that every marketer should know, including some that may surprise you.
1. When it comes to coupons, Millennials prefer print. When shopping for items such as food, OTC medication, and beauty care, 61% of e-media and mobile-savvy Millennials use print coupons, more than any other channel. (Source: “2K14 Valassis Shopper Marketing Report”)
2. Among the 65+ demographic, there remain customers who can be reached only by print. While more affluent, college-educated consumers in this age bracket are deeply embedded in digital technology, among those who have not attended college, only 40% go online and just 27% have broadband at home. (Source: Pew Research Center, April 2014)
3. Direct mail is the number one marketing vehicle for fundraising. According to a YouGov study, direct mail remains the strongest, most effective way for nonprofits to solicit donations. According to the study, 21% of people gave to a nonprofit because of a print solicitation. This is compared to 12% through mass media, 6% through social media, and 10% through email. (Source: “YouGov Giving Report 2013”)
4. 10% more consumers visit a company’s website because of print. If you want to drive traffic to your website, send mail! According to a survey by the U.K. Direct Marketing Association and fast.MAP, 10% more consumers visit a company’s website because of a print advertisement than an email contact. (Source: “From Letterbox to Inbox 2013”)
5. Print is seen as more trustworthy. In the same U.K. Direct Marketing Association / fast.MAP study, 56% of respondents said they found printed marketing to be the “most trustworthy” of media channels. (Source: “From Letterbox to Inbox 2013”)
There is a reason that print remains the bedrock of today’s most successful marketing campaigns. Email, mobile, and social media all have important places in the media mix, but with print’s tangibility, credibility, and motivating power, it remains the cornerstone of truly successful multichannel marketing.
Are You Taking Advantage of Coupons?
Are you taking advantage of the power of coupons? Storewide discounts and everyday low prices are great, but there is something about a coupon that people really like. Middle income people. Rich people. High discounts. Low discounts. It doesn’t matter. People just like coupons.
According to fast.MAP’s annual Marketing-GAP study (2011), 97% of U.K. consumers surveyed are using coupons. Moreover, a 20% face value is enough to motivate more than half of shoppers to redeem their coupons. A 50% face value will motivate three quarters to redeem them.
This data is not alone. An A.C. Nielsen study found that 60% of U.S. consumers actively look for coupons. An article in the Wall Street Journal (“In a Pinch, Snip” 2012) found that 54% of U.S. shoppers surveyed said they had already stepped up use of coupons. Fast.MAP found that three in five consumers redeem coupons “occasionally” and three in 10 redeem them “regularly.”
Despite the proven power of coupons, fast.MAP found that marketers continue to underestimate their value. In fact, for the seventh year running, the research firm’s Marketing-GAP survey found that marketers expected fewer than one-quarter of consumers to redeem 20% coupons and less than three in 10 to redeem 50% coupons. That’s a big gap with consumers’ self-reported behavior!
Here are five reasons that you should not under-estimate the value of coupons:
1. Coupons sell more than the product discounted.
You may not make a ton of money on the product or service you are discounting, but once you get those customers in the door, chances are they’ll walk out with more.
2. Coupons expand your market area.
Consumers cannot resist a deal. When the coupon is good enough, people will travel significant distances to redeem them. Once these shoppers are in the door, the rest is up to you.
3. Coupons steal business from competitors.
No matter how loyal consumers may be to their favorite brands, coupons have a powerful draw. With a coupon, many will try your brand at least once.
4. Coupons re-engage inactive customers.
Sometimes customers get lazy or disengaged with your brand. Coupons get customers re-engaged.
5. Coupons track and prove results.
Coupons are one of the most trackable promotions. Use coupon codes to track the results of specific campaigns, marketing channels, or promotions. Or try serializing codes to track not only the results of the larger campaign, but the behavior of individual respondents.
Coupons are a simple, inexpensive way to boost the power of your marketing. If you are looking for ideas to jump start your couponing efforts, give us a call. We are happy to help.