A recent report by the Audit Bureau of Circulations (ABC) has revealed that the overall magazine market fell by 7% year-on-year according with newspaper circulation figures also continuing to decline. With advertising budgets being stripped back and much of the way we consume news shifting to online and social, it’s a definite consideration to make when defining your company’s media strategy.
According to Ofcom, social media is now the most popular type of online news, used by 44% of UK adults. With more than seven in ten (76%) of respondents saying that they use now turn to Facebook for news.
The ABC1 socio-economic group are more likely to use internet, radio and newspapers for news than C2DEs, but are just as likely to use TV. TV is the most-used platform for news, followed by the internet, then radio and newspapers.
But traditional media is far from irrelevant, and your brand will reap the benefit of creating a tailored strategy to include all elements of the marketing mix.
While the internet and social media are well read, magazine media is still cited as a more trusted source of information when it comes to relevance, reliability, objectivity and transparency. As social media has a role in news by sharing and offering up to the minute immediacy, magazines have a role in creating and benefiting from the trust of consumers.
Combining the two is perhaps the future. Apple is rumoured to be planning a new subscription service, billed as the Netlfix for news. Similarly to other media subscription services, it’s thought that subscribers will be given unlimited access to articles for a monthly fee, to consumer as they please at home, or on the go. Watch this space!
There’s no doubt that the way we consumer news is changing, and your marketing strategy needs to take to reflect this. If you are interested in learning more about marketing for your food or drink brand, please email email@example.com for more information on how our Elevation Marketing programme for SME’s in the food and drink industry could help you!
SOURCES: MARKETINGWEEK, BUSINESSINDER, OFCOM & CAMPAIGN