Driving Success
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HEADING HERE DRIVINGHeading SUCCESS: THE VALUE OF PRINT TO THE LUXURY AUTOMOTIVE INDUSTRY ccBis dollecabo. Que liatem verupta teceaqui occabo. 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For print media, the focus has been on how digital has eaten away at its But print media also plays a key role beyond the point of purchase, turning audience and its advertising profits. For the automotive industry, digital customers into brand advocates and delivering the luxury experience puts new demands on what is a very slow-moving business. high-net-worth individuals (HNWI) expect from a brand magazine. Any notion that there’s value in the two industries coming together may At Dialogue, we’ve long understood the importance of print and how it raise some eyebrows. However, there’s a long history of automotive working supports retention and delivers brand loyalty. We know from our with print media, particularly in its use of brochures and specification sheets. multi-platform work with Harley-Davidson that the Harley Owners Group And print is still highly important for the sector and its clients. (H.O.G.) brand magazine plays a key role in engendering community as well as creating a platform for further sales: 62% of H.O.G. members are inspired Deloitte’s Global Automotive Consumer Study highlighted the significance to attend an event, 26% inspired to test a new model and 35% inspired to of printed products at the point of purchase – 80% of customers said engage with the brand. they found traditional information channels most useful when at a dealership, with 61% stating that they preferred printed brochures Print can provide that essential glue between the real and digital worlds, so or specification sheets.1 we wanted to assess the value of print to the luxury automotive consumer in 2020 and we have turned to data insight to do so. It makes sense. When making an expensive purchase, there’s something reassuring about a tangible, tactile list of its attributes – it confirms that it’s worth the investment. Driving success | 3 THE REPORT The report at a glance ABOUT THE REPORT Meanwhile, in his book The Revenge of Analog: Real Things and Why We’ve collaborated with global audience insight consultancy entSight on They Matter, David Sax explains that the millennial fascination for print this report to evaluate the behaviour of 50,000 global luxury automotive comes from digital burnout: “Because the millennial generation came consumers in terms of how they use and value print formats. We surveyed of age with broadband, internet, smartphones and social media, we men and women of all age groups who self-identify as being in the top two assume that is all they want … [but] they don’t view digital as special. wealth tiers as well as car consumers, either owning or planning to own a car Digital is like the air around them. There’s a uniqueness when someone in the next 12 months. presents them something in an analog format. They’re more willing to see the value and not to see it as antiquated.” The data has been evaluated in comparison to a global sample, which allows us to understand how this audience ‘indexes’ compared with the norm. There is a physical, tangible reality to print magazines that exudes trust, The global sample data is drawn from GlobalWebIndex, which provides authority and credibility, which you don’t get online, especially in an era digital consumer insights across 45 countries and 40,000 data points. of fake news. ABOUT PRINT This is even more applicable to the luxury market, where quality and Print plays a very particular role in the marketing communication mix. To exclusivity are key. OgilvyOne Director Scott Manson explains: “When understand its value, you must understand its unique purpose, which is you print something, it looks like you have gone to a lot of trouble to different to say digital, a platform that is faster to produce and take to make it. There’s a feeling when you pick up a really well-produced print market, but equally more saturated and disposable. product that love and craftsmanship have gone into it, and you can see and feel the production values.”3 Marketing success has been increasingly measured by numbers of eyeballs on content, but digital metrics have been consistently called into question Key statistics about print: as being measurable but unreliable. A key consideration for any medium is engagement and print provides all-important respite from the screen – • Consumers prefer to read the printed version of books (72%), especially relevant in the 2020 Covid-19 crisis, a period that has seen an magazines (72%) and newspapers/news (55%) over digital options – unprecedented rise in screen time, but also huge hikes in magazine and Two Sides, 2019. newspaper subscription rates. • Sales of print books are at a five-year high, while e-book sales have A Bangor University/Millward Brown study proved that the ‘real’ experience fallen by 17% to the lowest since 2011 – Publishers Association, 2017. of physical material involves more emotional processing in the brain than digital media and that is important for memory and brand associations.2 • Brand recall is 70% higher on print than digital – True Impact, 2015. 4 | Driving success THE REPORT Key insights at a glance The wealthier the consumer, the more they discover through print (across all age groups) The global luxury automotive audiences we analysed for this report showed a strong preference for printed media when it came to learning about new brands and products ― especially for the Rural luxury audiences respond more to stories in print, while urban audiences higher wealth groups. respond more to adverts in print - Edward Bass, Founder & Director, entSight Brand communities are expected from luxury automotive audiences Driving success | 5 KEY LEARNINGS Key learnings According to research by Aston Martin, the number of HNWIs in the world (people with $1 million-plus of investable assets) is predicted to climb from 18 million to 30 million by 2030. In addition, there’s been a shift from inherited wealth to self-made money and the age of entrepreneurs has widened to include some as young as 18.4 With rising wealth comes a growing audience – but how can your brand reach them? Our research has provided an abundance of highly valuable insight, from brand and behaviour to