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What is Virginia Business?
² Since 1986, Virginia’s source for business intelligence ² Monthly glossy magazines:
Ø Virginia Business (statewide) Ø Roanoke Business (Roanoke/Blacksburg/New River Valley)
² Digital Products Ø virginiabusiness.com Ø Daily e-News Ø Weekly CRE-Intel (commercial real estate) Ø Digital editions (iPad, Android, Kindle)
² Event Opportunities Ø Best Places to Work in Virginia Ø THE BIG BALL Ø CFO Awards Ø Virginia Business Political Roundtable
May 2013 2
Value proposi,on: high-‐level audience engagement
2013 Audience Survey
May 2013 3
Who is GfK MRI?
² For more than 30 years, GfK MRI (formerly known as Mediamark Research & Intelligence) has been a dominant voice in media and consumer research in the United States
² GfK MRI's Survey of the American Consumer™ is the primary source of audience data for the U.S. consumer magazine industry
² Similar to Nielsen for television, Scarborough for newspapers and Arbitron for radio, GfK MRI’s nationally-syndicated consumer magazine study is used by all major national media buyers and advertising agencies in the U.S.
For magazines, GfK MRI is the best in class research company.
2013 Audience Survey
May 2013 4
Survey Methodology
Survey Period:
February 7, 2013 through March 5, 2013
Survey Method:
An emailed invitation to take an online survey was sent to 10,004 Virginia Business subscribers
Respondent Incentives:
Grand prize: a two night weekend golf package with accommodations and golf at The Boar’s Head in Charlottesville, VA. Four second place prizes: $50 Amazon gift cards.
Sample Selection:
The 10,004 subscribers receiving the emailed invitation represented approximately one-third of all subscribers
Completion: 922 completed surveys were received
Response Rate:
9.2 percent
Standard Error:
At the 95 percent confidence level, +/(-) 3.3 percent
2013 Audience Survey
The GfK MRI index
Certain data within this survey includes an “GfK MRI Index.” These scores are computed in comparison to GfK MRI’s national Survey of the American Consumer.
For example, 94.0% of Virginia Business’ subscribers stayed at a hotel or motel in the last 12 months while 48.5% of GfK MRI U.S. Adults have done so. (94.0 ÷ 48.5) X 100 = 194.
An index of 100 indicates no difference between the respondents and U.S. Adults. An index of 194 means the incidence of staying in a hotel in the last 12 months among Virginia Business’ subscribers is 94% greater than that of all U.S. Adults.
Data from the GfK MRI Spring 2012 Syndicated Study was used to calculate all indices.
May 2013 5 2013 Audience Survey
May 2013 7
Audience Engagement
Q On the average, out of four issues that are published, how many issues of Virginia Business do you read or look into?
1%
4%
9%
85%
0% 20% 40% 60% 80% 100%
1 of 4
2 of 4
3 of 4
4 of 4
Source: GfK MRI - 2013 Virginia Business Audience Study
n = 922
On a cumulative basis, the average issue’s readership
is 94 percent!
2013 Audience Survey
May 2013 8
Who reads Virginia Business?
Q Are you any of the following for your company?
33%
12%
55%
14%
23%
18%
6%
0% 20% 40% 60% 80% 100%
Other posi4ons
Vice President
C-‐Suite or higher (net)
C-‐suite posi4ons
President
Owner/Partner
Chairman/CEO
910
860
210
967
GfK MRI Index
n = 922 Source: GfK MRI - 2013 Virginia Business Audience Study
2013 Audience Survey
May 2013 9
Company Size
Q How many employees are there in your entire company, including all plants, branches and subsidiaries?
Q What are the approximate gross annual sales or revenues of your entire company, including all plants, branches, divisions and subsidiaries?
33%
31%
20%
16%
0% 20% 40% 60% 80% 100%
Less than $1 million
$1 to $10 million
$10 to $99 million
$100 million or more
n = 879
45%
17%
18%
5%
15%
0% 20% 40% 60% 80% 100%
Less than 25
25 to 99
100 to 499
500 to 999
1,000 or more
n = 879
Source: GfK MRI - 2013 Virginia Business Audience Study
200
235
193
51
GfK MRI Index
225
2013 Audience Survey
Upscale demographics
Virginia Business
Subscribers
GfK MRI U.S. Adults
GfK MRI Index
Mean age (in years) 58 43 Male / Female 75% / 25% 48% / 52% 155 / 49 Married 83% 64% 129 Graduated 4-‐year college or more 80% 33% 239
Post Graduate Degree 36% 12% 414 Own home 95% 70% 310 Mean home value (000s) $447.2 $249.6 Own other proper4es 56% Investment real estate 30% 4% 759 Vaca4on/weekend home 22% 4% 574 Median HHI (000s) $160.3 $69.6 Avg. Net Worth (000s) $1,548.5 $324.0
May 2013 11 Source: GfK MRI - 2013 Virginia Business Audience Study
2013 Audience Survey
May 2013 13
Hotel Stays
Q Have you personally stayed at a hotel or motel for business and/or personal/vacation in the past 12 months?
Yes 94%
No 6%
Q How many nights have you personally spent in a hotel or motel in the past 12 months for business and/or personal/vacation purposes?
n = 922
n = 867
MRI Index 194
Source: GfK MRI - 2013 Virginia Business Audience Study
11%
26%
15%
48%
0% 20% 40% 60% 80% 100%
Less than 5
5 to 10
11 to 14
15 or more
25
168
312
GfK MRI Index
79
2013 Audience Survey
May 2013 14
Hotel Preferences
Q At which of these hotels have you stayed in the past 12 months?
n = 867 n = 867
National Chains Select Virginia Properties
5%
7%
7%
9%
10%
10%
18%
0% 20% 40% 60% 80% 100%
The Inn at VA Tech
Boar's Head Inn
The Jefferson Hotel
The Greenbrier (W.Va.)
Williamsburg Lodge
Hotel Roanoke
The Homestead
10% 11% 12% 12% 13% 15% 23%
35% 35% 37%
47%
0% 20% 40% 60% 80% 100%
Wyndham
Sheraton
Wes,n
Hya`
Doubletree
Embassy Suites
Holiday Inn
Courtyard
Hampton Inn
Hilton
Marrio`
Source: GfK MRI - 2013 Virginia Business Audience Study
266
524
409
MRI Index
524
304
444
2013 Audience Survey
May 2013 16
Company decision-makers
18%
20%
26%
34%
33%
50%
51%
57%
0% 20% 40% 60% 80% 100%
Freight/express
Real estate
Consul,ng
Office furniture
Copiers/office supplies
Mee,ngs/travel
Banking/investments/insurance
IT/telecom
375
1244
686
460
492
523
746
397
GfK MRI Index
n = 879
Q In your present position have you been involved with initiating, recommending, ordering or approving the purchase of any of these for your firm?
Source: GfK MRI - 2013 Virginia Business Audience Study
2013 Audience Survey
May 2013 17
Off-site meetings
Q Does your company plan to hold any off-site meetings in the next 12 months?
n = 879
23%
27%
24%
10%
16%
0% 20% 40% 60%
One
Two
3 to 4
5 to 6
7 or more
n = 434
Yes 49%
No 51%
Q Approximately how many off-site meetings does your company plan to hold in the next 12 months?
Source: GfK MRI - 2013 Virginia Business Audience Study
2013 Audience Survey
May 2013 18
Economic development
Q Does your company plan to add satellite offices, expand its current physical plant and/or move to a new location within the next two years?
Q Which of the following region(s) of Virginia will your company consider as an option for a future location?
n = 879 n = 229
20% 7% 6% 7% 7% 8% 12% 21% 25% 26%
73%
0% 20% 40% 60% 80% 100%
Don't know VA not an op4on
Shenandoah Valley SWVA
CharloZesville Southern VA
Roanoke/Blacksburg Hampton Roads
Richmond NOVA
VA is an op4on (net)
Yes 26% No
74%
Source: GfK MRI - 2013 Virginia Business Audience Study
2013 Audience Survey
May 2013 19
Virginia-educated
UVA 9%
VA Community Colleges
4%
VCU 3%
Univ.of Richmond
5%
VA Tech 3%
ODU 3%
William & Mary 2%
George Mason 1%
12 Other VA Colleges
3%
None of these 67%
Q Which of the following colleges and/or universities in Virginia have you attended for executive education?
VA Tech 12%
UVA 10%
VCU 8%
Univ. of Richmond
6% ODU 5%
William and Mary 4%
JMU 4%
VA Community Colleges
3%
Other Public Colleges
5%
Other Private Colleges
4%
None of these 39%
n = 902 n = 902
Q Which of the following colleges and/or universities in Virginia have you attended for a degree program?
Source: GfK MRI - 2013 Virginia Business Audience Study
2013 Audience Survey
May 2013 21
A “must read” publication
Q Do you consider Virginia Business a “must read?”
Yes 77%
No 23%
n = 922
Source: GfK MRI - 2013 Virginia Business Audience Study
2013 Audience Survey
May 2013 22
Are we getting better?
Q Compared to one year ago, would you say that the content of Virginia Business has gotten better, worse or stayed the same?
9%
35%
51%
2%
n = 922
Source: GfK MRI - 2013 Virginia Business Audience Study
2013 Audience Survey
May 2013 23
Advertiser perception
Q Are you more likely to regard a company as a serious player in the marketplace after seeing its ad in Virginia Business?
Yes 82%
No 18%
n = 922
Source: GfK MRI - 2013 Virginia Business Audience Study
2013 Audience Survey
May 2013 24
Advertising engagement
4%
2%
8%
10%
17%
41%
53%
0% 10% 20% 30% 40% 50% 60%
Scheduled an appointment with a company
Returned a phone call from an adver,sed company
Bought/ordered a product/service from an adver,ser
Requested informa,on from an adver,ser
Visited a specific hotel/resport/spa
Visited an adver,sers Web site
Took adver,sing-‐related ac,ons (net)
n = 922
Source: GfK MRI - 2013 Virginia Business Audience Study
Q Which of the following actions have you taken in the last 12 month as a result of reading Virginia Business?
2013 Audience Survey
May 2013 26
Readership of other publications
Q Which of these publications do you read regularly, that is, at least 3 out of every 4 issues?
8% 8% 9% 9% 11% 14% 14% 14% 15% 16% 15% 18% 21% 28%
32%
0% 20% 40% 60% 80% 100%
Newport News Daily Press Roanoke Business
Fortune Washington Business Journal
Forbes Roanoke Times Business Week Virginia Living
Richmond Magazine Inside Business
USA Today Virginian-‐Pilot
Washinton Post Wall Street Journal
Richmond Times-‐Dispatch
Three or more of the last four issues of Virginia Business were read by 94 percent of this audience!
n = 922
Source: GfK MRI - 2013 Virginia Business Audience Study
2013 Audience Survey
Roanoke Business
² Launched in July 2012 ² Serving the Roanoke/Blacksburg/New River Valley Region. ² 10,000 circulation, poly-bagged with Virginia Business and
also free multiple distribution points across the market ² Major advertisers:
Ø Virginia Tech Ø Valley Bank Ø Gentry, Locke, Rakes & Moore Ø Virginia Western Community College Ø Hometown Bank Ø Woods Rodgers Ø Radford University Ø Carilion Clinic Ø Poe & Cronk Ø Thalhimer
May 2013 28 2013 Audience Survey
Roanoke Business Ratings
May 2013 29
Q Thinking specifically about Roanoke Business magazine, please indicate how much you agree with each of the following statements?
--AGREE COMPLETELY/SOMEWHAT AGREE
Q How do you rate Roanoke Business magazine overall compared to other publications you read?
3%
1%
31%
47%
18%
0% 20% 40% 60% 80% 100%
Poor
Average
Good
Very good
One of my favorites
n = 72
97%
88%
94%
99%
94%
0% 20% 40% 60% 80% 100%
I trust it
When reading my copy, I usually think of someone I can
pass it along to
I look forward reading every issue
It is an enjoyable read
Is be`er than other magazines of its type
n = 72
Source: GfK MRI - 2013 Virginia Business Audience Study
2013 Audience Survey
Audience Demographics
Total Audience
Roanoke Business
Median Age 58 61
Male/Female 75%/25% 76%/24%
Bachelor’s Degree + 80% 83%
Married 83% 86%
Homeowner 95% 93%
Median Home Value (000s) $417.9 $342.3
Median Hsld. Income (000s) $160.3 $137.5
Avg. Net Worth (000s) $1,548.5 $1,306.6
May 2013 30
Source: GfK MRI - 2013 Virginia Business Audience Study
2013 Audience Survey
Virginia Business Digital Products
² Websites: Ø virginiabusiness.com Ø roanoke-business.com Ø vabusinessmedia.com
² e-Newsletters: Ø Virginia Business e-News (daily) Ø CRE-Intel (weekly)
² Digital Editions: Ø iPad Ø Android Ø Kindle
² Multimedia: Ø Videos/slideshows Ø Facebook Ø Twitter
May 2013 32 2013 Audience Survey
Interest in Digital Products
36%
2%
4%
4%
35%
20%
30%
64%
0% 20% 40% 60% 80% 100%
None of these
Twi`er feed
Facebook page
Videos/slideshows
e-‐Newsle`ers
Digital version
Website
Any of these (net) Q Which of the following VIRGINIA BUSINESS digital products interest you most?
May 2013 33
Source: GfK MRI - 2013 Virginia Business Audience Study
n = 922
2013 Audience Survey
Frequency of use
3%
3%
3%
9%
23%
43%
53%
0% 20% 40% 60% 80% 100%
Facebook page
Twi`er page
Videos/slideshows
e-‐Newsle`ers
Website
Digital version
Any of these (net) Q How often do you visit VIRGINIA BUSINESS’ digital products?
ONCE A MONTH OR MORE
May 2013 34
Source: GfK MRI - 2013 Virginia Business Audience Study
n = 592
2013 Audience Survey
Digital Metrics
² virginiabusiness.com Ø 61,244 to 88,600 monthly pageviews Ø 24,789 to 58,281 monthly visits Ø 23,612 to 35,479 monthly unique visitors
² e-News Ø 7,000+ subscribers
² CRE-Intel Ø 1,400+ subscribers
² Digital Edition Ø 20-50 iPad application downloads per month
² Social media Ø 2,000+ twitter followers Ø 300+ Facebook “likes”
May 2013 35 2013 Audience Survey
virginiabusiness.com
² Pageviews and unique visitors are consistent on a monthly basis, varying somewhat based on site content.
² Significant growth in Mar ‘13 due to the 50 Most Influential Virginians.
71,744 61,280
65,819 73,420
63,169 69,050
61,244 68,552
61,835 58,898
75,944 75,840
88,600
29,059 25,093 25,552 30,008 24,178 26,883 23,612 26,611 24,698 24,789
30,322 29,273 35,479
-‐
25,000
50,000
75,000
100,000
Pageviews Unique Visitors
May 2013 36
Source: Google Analytics
2013 Audience Survey
Audience Demographics
Total Audience
Digital Audience
Median Age 58 57
Male/Female 75%/25% 70%/30%
Bachelor’s Degree + 80% 82%
Married 83% 81%
Homeowner 95% 92%
Median Home Value (000s) $417.9 $396.4
Median Hsld. Income (000s) $160.3 $164.9
Avg. Net Worth (000s) $1,548.5 $1,432.3
May 2013 37
Source: GfK MRI - 2013 Virginia Business Audience Study
2013 Audience Survey
May 2013 38
Website audience
Q Have you ever visited Virginia Business’ website, www.virginiabusiness.com?
Yes 44%
No 56%
Q How often do you visit Virginia Business’ website in an average month?
8%
15%
14%
63%
0% 20% 40% 60% 80% 100%
Once a week or more
A few ,mes a month
Once a month
Less than once a month
n = 922
n =356 Source: GfK MRI - 2013 Virginia Business Audience Study
2013 Audience Survey
May 2013 39
e-News audience
Q Which of the following actions have you taken in the past 12 months? – read Virginia Business e-News?
Yes 18%
No 82%
Q On average, how often do you read or look into Virginia Business’ e-News?
11%
18%
18%
54%
0% 20% 40% 60% 80% 100%
Once a month or less
Once a week
Several ,mes a week
Daily
n = 922
n =200 Source: GfK MRI - 2013 Virginia Business Audience Study
2013 Audience Survey
May 2013 40
CRE-Intel audience
Q Which of the following actions have you taken in the past 12 months? – read Virginia Business CRE-Intel?
Yes 6%
No 94%
Q On average, how often do you read or look into Virginia Business’ CRE-Intel?
7%
21%
72%
0% 20% 40% 60% 80% 100%
Once a month or less
2-‐3 ,mes a month
Once a week
n = 922
n =58 Source: GfK MRI - 2013 Virginia Business Audience Study
2013 Audience Survey
Total print readership
28,730 controlled circula,on
x 94% percent who read monthly
27,006 average monthly audience
x 2.8 average readers per copy
75,617 total monthly readership
May 2013 42
Sources: BPA Worldwide - Business Publication Audit, GfK MRI 2013 Virginia Business Audience Study
2013 Audience Survey
May 2013 43
Multimedia audience (net)
Print Readers 75,617
Sources: BPA Worldwide - Business Publication Audit, GfK MRI 2013 Virginia Business Audience Study, Google Analytics
Total monthly audience = 94,059+
Online Unique Visitors
29,273*
* Feb 2013 during survey period
Readers who visited in the past 30 days 10,831
e-News/ CRE-Intel
??
2013 Audience Survey
Summary of findings
² Virginia Business has highly-‐engaged readers who respect the magazine and respond to its adver,sing.
² 85 percent of subscribers say they have read all four of the last four issues. The average issue of is read by 94 percent of our subscribers.
² Virginia Business readers are affluent and influen,al business decision-‐makers. Fipy-‐five percent of our readers hold C-‐suite or higher posi,ons at their companies.
² 26 percent of readers say their companies will expand or relocate within the next two years; 73 percent say a Virginia loca,on is an op,on.
² Virginia Business reaches heavy travelers and upscale consumers. ² 53 percent of readers report having taken ac,on on adver,sing within the past
12 months. ² Compared to other publica,ons, Virginia Business has a significantly higher
frequency of reading. ² Early response to Roanoke Business is very posi,ve. ² Interest in digital products is high. Over half of Virginia Business’ print audience
has visited one or more of its digital products in the last month.
² Our unduplicated net audience in print and online approaches 100,000 readers/visitors each month.
May 2013 45 2013 Audience Survey