Print is Dead!!
We at Distinctive Homes Magazine agree with that statement wholeheartedly. Sound odd coming from a magazine Publisher?
Print does continue to decline! Most statistics regarding print decline however refer to news paper. Before I bought this business I ran the sales division for the Northeast for an online company called AutoTrader.com since its inception in 1999 till just this year, perhaps you have heard of it? Cox Communications created the website in order to capitalize the lost revenues from their newspaper companies (Atlanta Journal Constitution being one of the largest), and I made my living on recapturing the advertisers in the Automotive world that were leaving the newspapers in droves. I am very familiar with the statistics regarding the medium.
We agree that news print is dying if not dead. However magazine niche publications continue to thrive and are very stable, especially ones targeted and distributed to a specific demographic (over 55, affluent clientele, 1st time home buyers) Most successful real estate brokerages realize that a strong mix of online and print is necessary in order to have a comprehensive marketing plan, especially when it comes to luxury homes. When the average sales cycle of homes upwards of a million is in the vicinity of 10 months to over 1 year, online marketing in and of itself will not reach the demographic necessary to capture buyers, and indeed to satisfy, most importantly, the sellers. They demand print.
I further agree that even some niche publications are a waste of money....national publications might seem glamorous and appealing, but our studies have shown us that more than half of home buyers in our category are moving up within their own community, which is where we come in. Further, a broad encompassing local magazine like Philly magazine, with astronomical rates and scattered distribution will certainly result in an extraordinarily high ROI, not what you are after I'm sure.
Finally, we are in the process of building a state of the art website, which will allow our advertisers to post ALL their listings on our site with a feed from Trend (not just the advertised home in the magazine). In my research I have not found a print publication that will offer that kind of online exposure included at no charge.
We intend to dominate the luxury market in Greater Philadelphia, and provide better distribution, better service and be the only magazine with online exposure for the lowest possible price for our realtors. I would love some opinons as whether you agree, disagree, or some feedback in general as to what print IS working for succesful agents out there!
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Print has been dead. Some of the old school agents still rely heavily on this. 82% of buyers are beginning their search online, not in ego-look at me magzines for their home or agent. If 80% plus buyers are online then it only makes sense to advertise your listings ONLINE and not in your local magazine. Sadly, sellers still don't know this. Sellers, their coming around just like buyers. I hope my competition sticks to their glossy face in their homes & land mag.