The recent demise of over 100 News Corp print newspapers and the axing of well known magazine titles like Dolly, Cleo, Women’s Weekly, Cosmopolitan and OK! are big signs that print media is truly dead. Print media readership has declined since the introduction of television. Once the internet was introduced and went on to take took our lives, this decline has been rapid.
Both readership and ad revenue for print media has been in free fall for years. The use of PayWalls for media content was a temporary reprieve for the newspaper industry. But is the COVID-19 pandemic the final nail in print media’s coffin? With people spending more time at home and increasingly relying on the internet for work and entertainment, it seems to be the case.
Tighter Budgets are Speeding Up Print’s Decline
Both consumers and businesses have been facing economic strain during this pandemic. People have less disposable income to buy newspapers and magazines while businesses have a tighter budget and are less willing to spend money on expensive print media ads, especially when you can’t measure results.
Digital is the New Normal
Most people get online to look for information they need, connect with people and entertain themselves. That’s just the reality of today’s world. For example, 99 per cent of millenials and 89 per cent of baby boomers search online when they are looking for a new property. And that was before the pandemic!
During lockdown, digital usage soared even higher. One survey found 39% of Australian respondents are spending longer on social media. It also recorded a whopping 87% increase in time spent on financial news and information websites. With numbers like that, it just doesn’t make sense for real estate agencies (or many other businesses) to invest in print advertising.
Agents Should Invest in Digital Campaigns
Print media has been traditionally used to showcase an agent’s brand rather than particular properties. However, digital channels are still more effective for these types of campaigns. Whether you’re marketing your brand or specific properties, a digital campaign enables you to:
- Reach more people faster while spending less
- Measure ad effectiveness
- Reach the ideal buyer with hyper-targeting tools
- Report ad performance in real time
- Generate more leads with snappy Call To Actions to convert your marketing into business.
Digital campaigns are also versatile. From creative video campaigns for listings to informative articles about the market, there are multiple ways you can promote your brand and position yourself as the local experts.
Plezzel Can Help You Generate More Leads
Let the team at Plezzel help you reach the right people with our innovative digital tools and strategic campaigns. If you want to learn more, please get in touch with the Plezzel team.