Why print Yellow Pages STILL work…

A couple of weeks ago on a Saturday night, the USA Network had the network TV premier of “Skyfall”, the newest of the 23 James Bond movies.

I am a BIG Bond film fan having been raised on films that took me to places I had never been, and featured a really dapper guy who was always in control, no matter what the danger was. As a teenager, I marveled at how he always seemed to know what to say, especially around the girls.

I can tell you this TV movie was a big event in our household that evening.

So why should my fascination with James Bond be important to you? Only because we watched that entire movie on network TV and never had to sit through a single commercial. Why — because we recorded it, and then zipped thru the commercials.

But I’m not unique. Research indicates that over 50% of television viewers always skip through the advertising using some type of DVR set-top box that permits time-shifting an event.

So was all that advertising around that movie wasted?? At least half of it was. Question is: do the advertisers who paid big money to be shown during that movie know which half?

I am often asked the same question about our print, online, and mobile Yellow Pages. The answer may surprise you.

I’ll give you a hint – it’s about something called “life-events” which create major shopping episodes involving things we usually have little experience with, but more often involving BIG $’s.

And no one fast forwards through these ads….

Well, here’s the truth: Unlike the TV, the Internet, or even mobile devices, Yellow Pages are not necessarily used every day; it is not even used routinely. According to CRM Associates, about 90% of its usage is “episodic”, driven by those pesky life events and “out-of-the-ordinary” events in people’s lives.

These events create major shopping activity; involving things we consumers have little experience with (replacing a roof, finding an assisted living residence for an aging parent, replacing a water heater, finding dental specialist). These events tend to involve big $ expenses. CRM Associates says the typical average amount people spend when they use our print, online, or mobile Yellow Pages is about $730.

Most of the types of purchases that fit these activities are service-related. So it should be no surprise that 80% of Yellow Pages’ top headings are service related. The strength of Internet and mobile maybe on the retail side; but the strength of Yellow Pages is, and always has been, on the LOCAL service side.

For major service jobs, such as air conditioning, plumbing, roofing, health care, and even financial planning support, the ideal customer for these businesses is typically someone at least in their 40’s, most likely in their 50s, 60s, or even their 70s.

This demographic is critical to the success of most local service businesses – and will continue to be so for the next several decades. How do we know this? Consider:

• Over 80% of the nation’s financial assets are held by households 50 and over.
• 61% of the national’s discretionary income is made by those over 44, and this group accounts for almost two thirds of spending in Yellow Pages top heading categories.
• The number of people in this age group will increase 40% over the next 10-15 years.
• And, this group is set to inherit over $11 trillion from their parent’s generation

And surprise – these people are the heaviest users of print, online, and mobile Yellow Pages…..

People want and trust local service providers. And even with all of the technology available these days, consumers still see Yellow Pages as the most credible source for information about local service providers. These Yellow Page products:

• Have never been hacked,
• No one’s identity has ever been stolen,
• They don’t fill your mail box with junk mail or direct mail flyers for things you don’t need at that time
• No special Internet connection, power source, or technology is needed – just your fingers

Yellow Pages in print, online, and mobile formats are the ultimate local shopping resource.

Why Marketers Shouldn’t Ignore Baby Boomers

Finally, someone else is saying what the Yellow Page has known for years — baby boomers are where marketers should be focusing their advertising dollars, and that then means Yellow Pages are the medium marketers should be using if they want to capture those boomer buyers as they are making a buying decision.

At the recent Nielsen’s Consumer 360 Conference, the well-known media and consumer research company said three key consumer groups are rapidly changing for marketers:

• baby boomers,
• moms,
• lower income consumers.

But it is the baby boomers that really have the biggest prize — disposable income (aka money to spend). Beth Brady, Nielsen’s leader for marketing effectiveness, warned that if advertising dollars are funneled elsewhere: “….It’s a missed opportunity.”

Here are some of the numbers behind these comments:  Nielsen indicated that there are 100 million baby boomers — a number which will climb by a third in 2030. Most are growing out of the key 18-49 demographic into the 50+ number.  More importantly, they control $230 billion in sales or about half of the total for the entire U.S.  And they are not done yet — in five years, they will control 70% of disposable income.  Yet by and large, this key core demographic is ignored by marketers who seemed smitten want to reach 18 – 25-year-olds with far less disposable income and needs (as in they don’t have much money to spend).

So why should marketers then consider Yellow Pages to reach this core demographic group?  How about this list of key characteristics of heavy Yellow Page users from Dr. Dennis Fromholtzer of CRM Associates:

•  Informed & smart shoppers
•  Information gatherers
•  Adventurous / enjoy taking risks / pursuing challenge, change, novelty
•  Culturally sophisticated
•  Fashion/style conscious
•  Keep up with changes
•  Like to stand out in a crowd
•  Change brands for variety & novelty
•  Outspoken
•  Leaders
•  Influencers – others come to them for advice

Shouldn’t this be the part of the market that businesses are clamoring for?  Then Yellow Pages is the most efficient way to reach it 24 hours a day, 7 days a week, 365 days a year…

 

 

Is Advertising Missing It’s Best & Biggest Target??

We’ve all heard the same old message of doom and gloom about how people aged 18-34 never use print Yellow Pages, that the industry needs to come up with new ways to attract their interest and their spending, etc. etc. etc..  But it seems like that focus on the younger demographic may be misplaced.

A recent study by the Nielsen Company indicates that Baby Boomers (that age group that has an estimated  78 million strong in the U.S.) are spending 38% of CPG (consumer package goods) dollars, yet less than 5% of advertising dollars are targeted to adults 35-64 years, which include Boomers (born 1946-1964) and the latter half of generation X (born 1965-1976). Could marketers be missing the biggest piece of the market with their obsession towards the younger groups???

This from Pat McDonough, Senior Vice President, Insights, Analysis and Policy at the Nielsen Company:

“..Boomers should be as desirable for marketers as Millennials and Gen-Xers for years to come; they are the largest single group of consumers, and a valuable target audience. As the U.S. continues to age, reaching this group will continue to be critical for advertisers.”

Some additional findings from the Nielsen study about Boomers:

• The group dominates 1,023 out of 1,083 consumer packaged goods categories (yes, they are buying lots of stuff)
• Boomers are big online shoppers, comfortable using email and messaging to stay in touch.
• Boomers comprise 1/3 of all TV viewers, online users, social media users and Twitter users (Was that an AGH!!! I just heard from all the Millennials..)
• More likely to have broadband Internet access at home (who says Boomers aren’t wired??)

So why are most marketers ignoring more than half of the affluent Boomers, those with the money to spend, and only targeting only to 18-49 year olds??  I really can’t tell you.  Sounds like they are really missing an opportunity here.

Our take:

Every Yellow Pages advertiser needs to know that if you want to reach those Boomers who have money to spend, who are ready to buy locally NOW, our print directories are there for them 24 hours a day, 365 days a year, with no special connections or wireless communications required, they often come in larger print (so we can see things easier), and they are organized in a manner which is logical and easy to use so they can find your business quickly.

Did I also mention our IYP and mobile products are pretty good too???