| Title | Business |
| Agency | AMV BBDO |
| Campaign | Take A Closer Look - The Economist |
| Advertiser | The Economist |
| Brand | The Economist |
| Posted | September 2003 |
| Business Sector | Newspapers, Magazines, Books |
| Tagline | Take A Closer Look |
| Philosophy | CREATIVE STRATEGY Qualitative research conducted in several European markets demonstrated that there was very little awareness of the product amongst potential readers. Many people assumed, because of its title, that The Economist was a very specialized and serious economics magazine that was of little interest to them. Research revealed that The Economist offered three unique benefits its breadth of coverage, depth of analysis and its distinctive wit and style of writing. The Economists Take A Closer Look press and poster campaign, launched in Spring 2001, was designed to change peoples perceptions of the magazine and encourage trial. MEDIA - Newspaper - Outdoor - Radio TOTAL MARKETING EXPENDITURE 1.5 million MEDIA STRATEGY The strategy combined outdoor and newspaper advertising in France, Germany and the Netherlands. The exceptional value and reach offered by radio in Spain and Ireland provided a means to further extend the geographical reach of the campaign. This medium was used tactically to promote each weeks issue on Fridays and Saturdays. The annualised budget was not significantly different to the previous year. Other international titles were not consistent advertisers over this period, but the main indigenous business titles have spends which dwarf The Economist. EVIDENCE OF RESULTS The overall objective was to grow circulation in the advertised markets, which was clearly achieved. Also, the year-on-year uplift in European circulation is two and a half times greater than the year-on-year uplift witnessed prior to the campaign. The uplift in total circulation in advertised countries is 32% greater than in non-advertised markets and the uplift in news-stand sales, arguably those most directly affected by the advertising, is over 60% greater. In addition to boosting circulation, the advertising has also helped to grow The Economist readership in Europe by 9% in 2002 versus 2000, with the uplift in advertised markets of six times greater (12% v 2%). Encouraging trial There has been an uplift in propensity to buy The Economist amongst both occasional and non/potential readers in each of the post advertising waves of tracking which demonstrates that the advertising is encouraging trial. Over the 2-year campaign period, strong commitment (those very likely to buy) has almost doubled amongst occasional readers from 9% to 17%. Amongst non/potential readers propensity to buy (very/quite likely) has grown by 15 percentage points from 8% to a remarkable 23%. |
| Problem | The Economist has been advertising in Europe since the mid 1990s, however until 2001 the approach was country specific with different campaigns running in different markets (France, Netherlands, Sweden, Germany) at different times. During this time The Economist had enjoyed some growth in circulation, however this growth did not reflect the size of the opportunity in continental Europe. It was time for a concerted effort, but on a limited budget The Economists annual advertising budget for Europe was only 1.5 million. The marketing challenge was to identify the European markets that would offer the best growth potential and value for money and then develop a pan European campaign that would appeal to potential Economist readers in all of those markets. CAMPAIGN OBJECTIVES The overall campaign objective was to grow circulation in the advertised markets. Occasional and potential readers of the publication needed to be converted into regular readers. To achieve this, the advertising had to: 1. Drive brand salience. As a foreign language publication, awareness and stand out of The Economist was low versus domestic newspapers and magazines. 2. Educate people about what the Economist offers and broaden their understanding of its content. 3. Encourage trial TARGET AUDIENCE Qualitatively, the audience of potential Economist readers works in a diverse range of professions (government, finance, law, media and the arts) but what unites them is their international outlook and interest in the world around them. They use English at work and probably have some international aspect to their job. Quantitative analysis of the European market showed that the biggest opportunities lay in France, Germany, Netherlands, Italy and Spain. |
| Media Type | |
| Advertising Manager | Jacqui Kean |
| Account Planner | Annabelle Watson |
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