We’re in a world where the pressure to justify marketing spend seems to grow all the time. A hundred years ago, it was okay for John Wanamaker to say: “Half the money I spend on advertising is wasted; the trouble is I don't know which half.” But that era is well and truly over. In the new world of digital, anything that shows demonstrable ROI has a tendency to win people over. This in part explains why print has suffered as a marketing medium. Marketers look at digital with its real-time statistics and their heads are turned. They are able to see likes, clicks, shares, visits, comments, download -- the list goes on. While some of these may be viewed as vanity metrics, they do show a level of impact that can be discussed by CMOs and directors. Most marketers do seem to believe in print, at least anecdotally, but a lack of evidence of its success has somewhat hampered its usage. Click Read More below for additional detail.
Challenges facing the print advertising economy have generally not spared shelter magazines. Across the category, page counts are falling, sales and edit teams are consolidating and investment is being diverted toward more promising digital and experiential offerings.
But emphasizing a hybrid, regionally focused yet nationally reaching, controlled-circulation approach, meant to allow advertisers to target specific segments of super-affluent (and purchase-inclined) readers, Sandow’s Luxe Interiors + Design believes it has found a solution to convince both endemic and non-endemic marketers to continue investing in print.
“Other magazines are putting their emphasis on digital, which is fine, but we’re approaching it from a different angle,” says group publisher and chief revenue officer Katie Brockman, who joined Luxe in 2017 after 14 years at Hearst’s Veranda. “We’re saying that in order to speak to this luxury audience, you have to deliver a luxury product. So we continue to put resources behind it, from the quality of the paper to the content to the range of photography.”
The strategy appears to be working. Luxe was up 3 percent in print revenue last year, raised its rate base (to 480,000) for the first time since 2014 and just this week, closed its May/June issue up 12 percent over 2018. Perhaps most distinctively, the magazine’s traditional advertisers—appliance and furniture brands, window and door manufacturers, interior design firms—are increasingly being joined by non-endemic luxury brands, from Ferrari to Tiffany & Co.
Throughout Luxe‘s 14-year history, its value proposition to advertisers has always involved its deep roots in the regional markets it serves, following the philosophy that design and architecture are inherently local. What began in 2005 as single title serving the Colorado market has since evolved into a national operation with 14 regional editions from New York to the Pacific Northwest (a 15th, serving the Southeast region, will debut in May), each with its own dedicated sales and editorial teams reporting up to Brockman and founding editor-in-chief Pamela Jaccarino, who ensure cohesion on the business and content sides, respectively.
While certain aspects of each issue, like Jaccarino’s editor’s note and the front- and back-of-book departments, remain uniform, each regional edition gets its own specific cover, feature well and mix of ad pages. It is an inherently expensive and logistically challenging undertaking from a production standpoint, but one that Luxe considers worthwhile.
“We’ve always believed that design is local and that design should be in context with the landscape,” Jaccarino tells Folio:. “From a content perspective, Luxe digs deep into communities across the country to report architecture and design stories. Our editors are spread across the country, living in the communities they report on. It’s a different approach that’s served us and our readers very well.”
more detail at: https://www.foliomag.com/luxe-print-advertising/