Industry Publications Matter in Marketing… Just Not How You Think!
“I want to ask about industry publications. They are exorbitantly expensive, but we haven’t gotten anything from them. Has anyone seen different results?”
I heard this question the other day during the Manufacturing Marketing Mastermind. This question lights up all the parts of my PR person brain, but for the non-comms pros in the room, it’s worth pointing out how common this question is. The role of industry publications in a marketing strategy is often misunderstood.
What “Brand Awareness” Really Means
First, you need to ingrain the 95-5 rule in your brain. This (research-backed!) rule states that, at any given time, only 5% of your potential customers are in-market for your solution at any given time. So, what are you doing to connect with the remaining 95%, who are still forming brand relationships even if they aren’t ready to buy? This is where industry publications hit their stride — brand awareness.
Take this example. For many years, I have been a subscriber of Sky & Telescope magazine. In all of those years, I never lived in a place where I could use a high-quality telescope. But, I loved to educate myself anyway and read the latest news in astronomy. Of course, I saw many, many ads for telescopes and equipment—but I wasn’t ready to buy one myself.
Well, as it happens, my situation is changing, and soon I will be able to buy that telescope I’ve always wanted—and I already know the brand I’m interested in, thanks to Sky & Telescope.
The reason I’m giving this (somewhat dorky) example is this: Nice telescopes aren’t cheap. For manufacturers who are selling to other businesses, their products usually aren’t cheap either. So, we’re not talking about a split-second decision like buying jeans or choosing where to go for dinner.
Industry Publications & Audience Relationships
Appearing in industry publications helps you develop and maintain a brand relationship with your potential customers and with your peers in the industry. And, no, paying $3,000 for an ad isn’t the only way to work with these publications—though it has its uses. There are many ways you can create value for and partner with industry publications that are earned (and that’s a subject for another post).
Think of working with industry publications as planting a seed. Plants take time and care to grow. So, too, does your brand’s reputation and equity.
