Business Periodicals Retain Digital & Print Influence

A recent blog post from B2B marketing agency Weidert argues that trade publications remain vital to B2B marketing, which should be encouraging news for AccuList USA’s many business periodical marketing clients. Whether online or in print, trade magazines retain reputation and authority with their vertical audiences, and many people trust information from these niche publications more than any other source, says Weidert blog author Tammy Borden.

Digital Offsets Print Declines for Trade Pubs

Borden notes that while circulation and ad spending for printed magazines may have dipped, digital editions are thriving. That contention is borne out by the latest PwC ad spending forecast, which sees an upward five-year path for trade magazine ad revenues from 2018 to 2022, albeit slight at 0.6%. The overall positive trend is because digital ad growth (9.3%) will offset print losses (-8.4%). In fact, PwC predicts that the digital ad spend will overtake print spending this year.

Digital Audiences on a Growth Path

Borden cites the multiple attractions of digital trade publications for business marketers, such as a growing readership: According to the 2018 Mequoda Magazine Consumer Study, 42.4% of U.S. adults read at least one digital magazine per month — a 15% increase in three years. Plus, there are also now digital magazine marketplaces like Magzter and Zinio that allow readers to access thousands of B2B trade titles in one place, further expanding audience reach.  For content marketers, digital content in business magazines is especially appealing because it can not only link to websites but can be SEO-optimized to leverage online impact.

Printed Business Magazines Retain Clout

Despite the growth of online readership and content, Borden still touts the marketing value of printed trade periodicals. She points to a survey finding that more than 32% subscribe to one or two print magazines compared with only 18% for digital publications. Plus, the print version of a publication (like direct mail) offers a richer sensory experience (visual and tactile) and a shelf life unmatched by digital. With the option to place advertising or content in both print and digital versions of a respected business periodical, marketers can maximize audience preferences and reach.

Check out the overall PwC media advertising outlook.

Many Business Publications Fail to Fully Mine Audience Data

Business periodical marketers come to AccuList USA for help with audience building via multi-channel campaigns. But as data experts, we’d like to remind them that their audience data offers other revenue streams worth mining. Most publishers know that targeted audience data is key to competing for ad dollars; for improved subscriber response via personalization; and for better targeted content marketing, but a recent Adweek article by Jason Downie suggests several other ways to monetize audience data.

Building Valuable Off-the-Shelf Audience Segments

Downie urges publishers to build “off-the-shelf” audience segments that can be sold directly to advertisers, for example. Consider how a seminar promoter could use a business magazine’s data if the publication built an audience of people interested specifically in his topics or proven seminar buyers; the advertiser would be able to enjoy the benefits of tapping not just a business-engaged audience but a strategically targeted set of potential buyers more likely to convert. By creating off-the-shelf audience segments, the publication offers more options for ad clients and more targeted impressions from high-value users. Audience segments can also offer insights that can be further monetized. For example, analytics could show that seminar attendees are four times more likely to share content online. That makes them online influencers, and since influencers are extremely valuable, the publisher can demand a higher CPM. Additionally, an audience segment can open the door to new advertisers and marketers, including non-endemic spending. A business publisher’s analytics may show a subscriber segment visits golf sites as well as the magazine site, for example. The publisher can now woo clients looking to target “golfers.”

Using Data to Win RFPs

Another way publishers can take advantage of data is in the RFP process, according to the Adweek article, noting that the average publisher spends up to 1,600 hours per month, or 18% of revenue, responding to advertiser RFPs. Publishers can develop a customized response to an advertiser RFP, starting with first-party data to build out the RFP-requested audience and then enriching that database with third-party data appending. Digital campaigns can expand targeting by adding lookalikes. Author Downie advises running a portion of an ad campaign without audience or contextual targeting to identify additional audiences, interests, actions and behaviors of those who respond well to the campaign but were not included in the initial targeting.

Turning Data Into New Revenue Streams

Another option for publishers with high-quality audience data is to sell it as “second-party data.”  The data can be sold either directly to another company through a second-party data exchange or through a programmatic data exchange. Second-party exchanges are popular because they are private marketplaces one-to-one with another company, versus an open environment. And, of course, subscriber lists can be monetized as “third-party data,” earning regular rental revenue on the open market and via data brokers. For more detail, see the full article.