Newspaper Ads Still Relevant to Auto ShoppersBy the Numbers: Reports of Newspapers’ Demise Not True for Auto Shoppers
The report of my death was an exageration.
–Mark Twain, 1897
Elvis is alive. UFOs crashed in New Mexico. The moon landing was filmed in a basement.
Isn’t it funny how rumors can take root and last for decades? The longer these rumors persist, the more we start to question people who believe them.
But here’s the thing about rumors; they’re not true.
Newspapers have been fighting rumors of their demise for decades.
There’s no denying that fragmentation has forever changed the landscape of media and how people consume news and content. There’s also no denying that the size of today’s newspaper audience is considerably smaller than it was 20-30 years ago.
While marketers scramble to adjust to an ever-changing media landscape scarred by dying traditions and new technology, one truth remains:
Newspapers continue to deliver a massive audience with an incredible array of buying potential.
This truth is especially evident in how Courier-Journal subscribers impact the local automotive landscape.
Recent studies from the University of Michigan’s Transportation Research Institute and other sources have shown that Baby Boomers make up the bulk of today’s new car buyers. Newspaper audiences are rich in this audience. In fact, 80% of The Courier-Journal’s subscribers are 45 and older.
That got us thinking:
If new car buyers are aging, and our readership includes this key demographic, what impact does our engaged audience have on local car sales?
To answer this question, for the second consecutive year, we partnered with third-party analytics provider ValueScope to match Courier-Journal subscribers to their automotive purchasing habits and history based on IHS Automotive vehicle registrations.
Here is a by-the-numbers-look at how Courier-Journal subscribers impacted local automotive sales in 2014:
We Are a Community of Drivers
|235,341||Vehicles are currently owned by Courier-Journal subscribers|
|2.4||Vehicles owned per home.
Compare that to 1.9 vehicles per home for the market average
Our Vehicle Purchasing Power is Strong
|26,891||New and used vehicles purchased in 2014 by Courier-Journal subscribers|
|$594M||Estimated retail value of those vehicles|
|22%||Courier-Journal subscriber households who bought at least one vehicle in 2014|
|8,463||New vehicles purchased by Courier-Journal subscribers in 2014|
|$262M||Estimated retail value|
|15,498||Used vehicles purchased by Courier-Journal subscribers in 2014|
|$331M||Estimated retail value|
Our Impact Is Felt Among Many Brands
Retail Value of New Vehicles Purchased in 2014 (Top 5 Brands)
|$62M||New Ford vehicles|
|$36M||New Toyota vehicles|
|$29M||New Honda vehicles|
|$23M||New Chevrolet vehicles|
|$14M||New Nissan vehicles|
We Are Not Done Buying Yet
|5.4||Average number of years Courier-Journal subscribers historically have gone between car purchases|
|127,809||Courier-Journal subscriber homes with at least one vehicle owned for 5.4 years or longer|
Proven Audience with Purchasing Power
Like the death of Mark Twain, reports of newspapers’ demise have been greatly exaggerated. Instead, newspapers continue to provide a proven audience with shopping power suitable for any product or service, especially automotive sales.
The Courier-Journal is investing in research to directly measure the impact our audience has on local auto dealers’ business. How many other media companies can claim that? We also have a variety of products and platforms reaching this audience on a daily basis.
If you would like to learn more about our 2014 automotive study and how Courier-Journal Media’s audience impacts your dealership, feel free to contact us. We’d also love to talk to you about how an integrated marketing strategy – combining offline and online media – can help you reach your goals.
In the meantime, don’t believe everything you hear.