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Indian Magazine Congress February 24, 2014

Indian Magazine Congress February 24, 2014. Had Newsweek been in India, print issue of Newsweek would have continued to thrive and grow. Magazines in 2013 grew by 5% Print : 10%; Overall Advertising 11.1% . Source: Pitch Madison Media Advertising Outlook 2014.

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Indian Magazine Congress February 24, 2014

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  1. Indian Magazine Congress February 24, 2014

  2. Had Newsweek been in India, print issue of Newsweek would have continued to thrive and grow.

  3. Magazines in 2013 grew by 5%Print: 10%; Overall Advertising 11.1% Source: Pitch Madison Media Advertising Outlook 2014

  4. Magazines are growing in emerging economies • Global consumer magazine market US$81.9bn in 2012 (CAGR of less than 1% over 5 years) • The largest market, USA, is expected to de grow (-1.3% CAGR over 2012-2017) • Emerging economies are growing at faster clip and proving to be resilient Source: PWC – Global Entertainment and Media Outlook (2013- 2017)

  5. One comes across many such remarks, indicating inherent strength in Indian Publishing Industry

  6. Rising Incomes and Aspiration, are positive drivers for magazine’s growth in emerging economies

  7. 5 insights, reinforce Magazines as a great medium

  8. Insight # 1 Magazinesare #1in readerengagement Source: Experian Marketing Services, Simmons Multi-Media Engagement Study, Fall 2012

  9. Insight # 2 MagazineAds are Least Annoying Base: All aged 15+ Source: Absorbing Media, 2002

  10. Insight # 3 Magazines captureundivided attention91% of consumers when they read magazines are least likely to engage in other activity Source: Simultaneous Media usage study

  11. Insight # 4 Magazinesads are Noticed and Influential Source: Experian Marketing Services, Simmons Multi-Media Engagement Study, Fall 2012

  12. Insight # 5 Magazinestalk toSuperInfluencers Number of times medium ranks #1 or #2 among super influential consumers across 60 product categories Base: Top quintile of usage for each medium among adults with a HHI of $50K+ Super influentials are defined as people who have great experience in this topic and whose advice on this topic is trusted by friends and family members Source: GfK MRI, Fall 2012

  13. 5 Why magazines have an Edge • # 1 in engagement – Thanks to segmented audience of magazines • Ads are least annoying – Increasing efficacy of advertisements • Undivided attention – Critical in today’s era of multi screen consumption • Ads are Noticed and Influential – Opinion Makers • Speak to influencers – In era of social media connectivity, amplification of those with social clout : Critical

  14. Why magazines should feature in MEGA media plans?

  15. Magazines can deliver on media numbers for high reach plans • Key Finding of Madison’s M:Spectra • Once 70 @1+ thru TV is achieved • Incremental reach is cheaper by using other media than TV • Magazine could feature purely as cost efficient choice once diminishing return sets in TV M:Spectra is a Madison proprietary tool that estimates combined reach across media • A proxy for single source data that is unavailable in India

  16. Similar findings from other markets • BARB/TGI using fused data discovered • Shifting 25% of budget from TV to Magazines resulted in • Increase in gross ratings from 400 to 493 amongst All Women • Increase in 1+ reach from 73% to 87% • Amongst Light Viewers of TV, “TV alone” plan was inadequate • Adding Magazines doubled Gross ratings and increased reach from 50 to 76 doubled amongst light viewers BARB/TGI fusion, using KMR-SPC’s Mercury software.

  17. However, selection criteria should not be only based on Maximizing media numbers • But Medium’s ability to improve brand scores on key parameters • Madison Touch Point Study points

  18. A proprietary study to understand role and influence of different media in different categories FMCG, Top 6 Metros, Female 25+, Sample Size : 200+

  19. Magazines play a key role in amplifying “Suitable for my needs” and in helping make Final Decision Important to note: Multimedia usage is important!

  20. Cooking Oils could probably do without TV but NOT WITHOUThealth/women’s magazines Important to note: Multimedia usage is important!

  21. If Shampoo brands do not consider magazines, they are opting for a sub optimal strategy Important to note: Multimedia usage is important!

  22. Similar evidence from International Studies • Study on how media impacts consumers as they go thru • five identified stages of the buying process (purchase funnel) • Studied impact across purchase funnel for • TV alone • Incremental impact of Online to TV • Incremental impact of Magazines to TV + Online Dynamic Logic, a company specializing in advertising accountability aggregated 39 case studies for the study

  23. Diverting a portion of campaign budget to magazines improves effectiveness of lead media Television Effectiveness • Marketing Management Analytics (MMA), studied 186 brands across 13 different product categories • If brands increased allocation to magazines, effectiveness of TV increased. • Increase in brand metrics (awareness) % of total spends of the campaign allocated to Magazines

  24. At Madison, we have seen it in action • For Saffola, we used magazines(along with other media) for an important campaign • Saffola’s score as an expert on heart case increased from 59% to 67% • Media Impact Analysis study independently conducted by Millward Brown concluded Print contributed to more than 50% of the brand equity uplift.

  25. We can garner more benefits by thinking “out of the box”

  26. Being Innovative in magazine pays • Sampling thru magazines is a “no brainer” • Segmented audience • Publishers need to find innovative ways to minimize leakage • As with any media, it pays to be innovative Stop Watch research; Sampling Innovations commissioned research among readers of Marie Claire magazine.

  27. Being Innovative • Not just a round shaped ad instead of square one • Clutter breaking but limited shelf life • Sustainable Innovation is by leveraging inherent strengths of magazines • Leveraging Magazine credibility • Speaking to influencers • Precise message for segmented audience

  28. Magazines offer stature TIME Person of the year No other media but only a magazine can create such an Iconic property Property has stature because it is from credible magazine and has been consistent since 1927

  29. By Co-creating iconic properties, marketers can build stature for their brands Requirements to create iconic properties: • Appealing to core audience • Being consistent (Femina Miss India has been running since 1964) • Marketers need to embrace partnership • Not ride on established property but co-create and invest over long horizon for maximum impact

  30. Brands can use magazines to talk to Influencers For Marico, we took social media outside of online world

  31. Insight that drove Marico’s thought process • Magazines build buzz. They excel in reaching people who shape attitudes and behavior. • Source: GfK MRI Fall 2011

  32. Skoda targeting small set with relevant message • Ride to Glory with Harper Bazaar • Taking the same idea forward, Superb targeted successful woman from different fields who spoke about their mantra of success • The shoot captured the space and features of the car along with editorial content • Simply Superb with Mansworld • Created a special section in the magazine where the brand communication “Legend is Back” was integrated into the editorial content • Prominent individuals spoke about their rules/ formulas that have worked for them • The readers got an insight into personality’s life and their philosophy

  33. Results • Massive 20,000+ enquiries recorded after the launch • The search on Google for the brand Octavia shot up by 550% • Sale target set for 2 months was achieved in just 3 weeks; whopping 1000+ cars were sold • The entire success of the launch got highly appreciated and recorded as best practices by the Skoda headquarters

  34. Brands can use magazines to talk to Influencers For Marico, we took social media outside of online world

  35. Mantras for Marketers

  36. Magazine offer segmented audience • Evaluate on Cost per incremental Output (sales/brand metrics) vs. CPT • Multimedia is the only sustainable approach to beat clutter • Allocate 10% to magazines, it improves effectiveness of other 90% • Innovate • Magazines remain the best media to speak to influencers • Innovation pays. If it is safe, it is risky. • Partner with publishers • Co-Create enduring properties building on credibility offered by magazines

  37. Recommendation to my publisher friends

  38. Commission research to amplify efficacy • Study and record engagement metrics (ad avoidance / Influence in purchase decision) • Segment audience well and be true to your customers • Embrace digital media. An opportunity not a threat • Magzter – Early example of how magazines can benefit from digital media/ mobile explosion • Magazines have more to gain • Content rules : Online or Offline • Credibility of your magazines cannot be easily replicated

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