Luxury real estate marketing professionals are often told that “print media” is dead. Shrinking revenue numbers of traditional media is presented as proof. Besides, Google discontinued its print ads in February of 2009. But, according to the Luxury Institute print will always have a place in luxury and we agree. Why? Because, taking the time to browse through a print magazine is a luxury in and of itself. Plus, it’s a break from being in front of ubiquitous digital screens: TVs, Computers, PDAs, Smart Phones, video games and now reading devises likes Amazon’s Kindle or Barnes and Noble’s Nook.
Consider in-flight magazines. London-based Ink, a privately held company, posted after-tax profit of £2.4 million ($4 million) on revenue of £25.3 million for the year through June 30, 2008. Last fiscal year Ink showed close to a 10% increase in revenue. According to a study conducted by Arbitron, more than 80% of U.S. passengers read the magazines airlines placed in front of them and readers average around 30 minutes per flight with their magazines.
What is important to understand about this captive audience is that frequent flyers, those who can afford to fly frequently (or be sent by their companies), are upper-demographic consumers who are taking a break from electronic devices.
Yahoo! recently announced its new 15 month marketing campaign ($100 million dollar budget) which includes print ads, TV ads and online ads. Clearly, this internet company sees the value of print advertising combined with other media. This balanced approach is a good strategy for luxury real estate marketing professionals, as well, especially when your competition is retreating from print.
Luxury real estate magazines are often placed where high net worth consumers will take the time to read them. For example, duPont Registry distributes its high end magazine to athletes. Their issue featuring California luxury homes is placed in the locker room of the San Francisco Giants. LuxuryRealEstate.com (Who’s Who in Luxury Real Estate) sends their glossy magazine to 500 top CEOs and also on private jets.
Print advertising for luxury real estate marketing can be an integral part of your personal or company branding strategy if it is done effectively. What is often missing is the right call to action that can generate bona fide leads, leads that can convert to measurable sales.
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